Fintech News

OCTOBER 6, 2024

One major focus is on proactive prevention, where the IMC advocates for tighter regulations on corporate service providers and enhanced due diligence for non-financial sectors vulnerable to exploitation by money launderers. The IMC’s recommendations aim to adapt Singapore’s AML framework to counter increasingly sophisticated criminal methods.

Money Laundering 108

Money Laundering Law Enforcement Financial Crimes Due Diligence 108

Fintech News

MAY 8, 2024

As digital technologies continue to transform the financial landscape, central banks worldwide are exploring the potential of Central Bank Digital Currencies (CBDCs). The pilot results showed that RCBDC could support access and integration for bank and non-bank FSPs, addressing existing pain points in the payment infrastructure.

CBDC 116

CBDC Bots Real Time Gross Settlement (RTGS) Non-Bank 116

The Fintech Times

APRIL 15, 2024

This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. “By analysing big data and rapidly assessing risks, AI empowers financial companies to make well-informed decisions. .

Embedded Finance 134

Embedded Finance AI Finance Assessments 134

Fintech News

AUGUST 12, 2024

These trends include ecosystem banking, generative artificial intelligence (GenAI), and embedded finance, a new report by PwC India and ASSOCHAM says. Generative AI driving banking and fintech trends in India Generative is one of India’s biggest fintech trends highlighted in the report.

Embedded Finance 106

Embedded Finance FinTech Non-Bank Cross-Border 106

Neopay

OCTOBER 3, 2024

The recent £29 million fine imposed on Starling Bank by the Financial Conduct Authority (FCA) for financial crime failings offers important lessons for businesses in the e-money and payments industry. For more details, you can read the FCA’s Final Notice on Starling Bank’s failings here.

Financial Crimes 59

Financial Crimes Crime Due Diligence Compliance 59

Fintech News

SEPTEMBER 29, 2024

These schemes are facilitated by the fact that many BNPL firms do not conduct formal credit checks, instead relying on internal algorithms to quickly assess new clients. The legislation established the CCOB and the Council for Consumer Credit Malaysia (CCC) to ensure fair treatment across financial services providers, including non-banks.

BNPL 126

BNPL Scams Identity Theft Non-Bank 126

FICO

JANUARY 6, 2021

Posts dealing with debt collection were among the most popular on the FICO Blog last year, for obvious reasons. Here were the five most popular posts in this category last year: #1. Bruce Curry brought his experience to bear in a series of posts, beginning with this one. there will be large books that need to be worked.

Posting 98

Posting Credit Risk Risk Returns 98

Fintech Finance

SEPTEMBER 24, 2024

Bank Alfalah, one of Pakistan’s largest commercial banks has already invested in Qist Bazaar, leading the seed round. ” Strategic Backing from Industry Leaders Qist Bazaar has benefitted from an early equity partnership with Bank Alfalah, which led their seed round. The post Qist Bazaar Raises US$3.2

BNPL 103

BNPL Underserved Non-Bank Finance 103

FICO

APRIL 27, 2017

Sovcombank, a universal bank with more than 2 million customers, is using the score to “gamify” the credit application process. The EFL credit risk score is created through a dynamic behavioral design and psychometric assessment that analyzes character traits with a proven relationship to credit risk.

Credit Risk 66

Credit Risk Assessments Risk Financial Inclusion 66

Fintech News

JULY 3, 2024

Vietnam’s digital finance landscape is undergoing a notable shift as new players emerge, established ones fade, and traditional banks rise to prominence, a new report by Decision Lab shows. However, by Q4 2023, Moca had slipped out of the top rankings, replaced by mobile apps from traditional banks.

Finance 104

Finance Online and Mobile Banking Micro-Entry Non-Bank 104

The Fintech Times

APRIL 3, 2024

This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. Whether it be retailers, ride-hailing apps, super-apps, or other non-bank service providers, embedded finance appears to be making its way into every sub-sector.

Embedded Finance 126

Embedded Finance Finance Non-Bank Embedded Payments 126

Neopay

NOVEMBER 27, 2023

The European Council and European Parliament have struck a provisional agreement on the mandatory provision of instant credit transfers in euros and access to central bank payment rails by non-bank e-money institutions and stablecoin issuers.

Instant Payments 52

Instant Payments Stablecoins Non-Bank IBAN 52

The Fintech Times

SEPTEMBER 16, 2024

While oil and gas remain the backbone of Brunei’s economy, since 2010, the non-oil and gas private sector has grown by 2.6 Although there are at least seven commercial banks, only two of them compete for the majority of users. For example, last year, BIBD announced its plans to be a digital-first bank.

Economy 59

Economy Central Bank Non-Bank FinTech 59

Fintech News

MAY 22, 2024

Arctic Intelligence (Australia) Headquartered in Sydney, Australia, Arctic Intelligence is a multi-award-winning regtech company specializing in financial crime risk assessment technologies. For larger enterprises and the consultants assisting them, Arctic Intelligence offers the Risk Assessment Platform. Transparently.AI

Financial Crimes 77

Financial Crimes Crime APACS Risk Assessment 77

Payment Savvy

JULY 3, 2024

These fees cover the costs of processing the transaction , ensuring the payment goes from the customer’s bank to the business’s bank account securely and efficiently. Banks may charge interchange fees, which are set by the card networks like Visa or Mastercard and are a portion of the transaction amount plus a flat fee.

Debit Card 52

Debit Card Process Debit Transaction Processors 52

Fintech News

MARCH 27, 2024

The Protect suite is among nearly 200 products under Visa’s portfolio, covering critical areas such as Acceptance, Advisory, Issuing, Open Banking, and Risk and Identity. This service employs deep learning models to assess transaction risks instantly, aiding financial institutions in preemptively blocking fraudulent activities.

Fraud Prevention 98

Fraud Prevention AI Value Added Service Fraud Detection 98

The Fintech Times

APRIL 8, 2024

This April, The Fintech Times is focusing on all things embedded finance, the integration of financial services into non-financial products and services. First, we turn our attention to the growth of Banking-as-a-Service (BaaS). “Do they have a banking licence that means their customers’ money is protected up to a certain level?

FinTech 116

FinTech Regulatory Compliance BSA Money Laundering 116

FICO

JANUARY 5, 2021

Two of our top five posts focused on digital transformation innovations in biometrics and customer identification. Here were our top 5 posts: #1: Fraud And Financial Crime Convergence. These patterns create a behavioral signature that is unique to you, which can be assessed without asking you to perform additional tasks.”.

Financial Crimes 52

Financial Crimes Crime Posting Scams 52

FICO

JANUARY 4, 2018

Here were the top 5 posts of 2017 in the Risk & Compliance category: US Average FICO Score Hits 700: A Milestone for Consumers. Read the full post. Read the full post. A New Way to Score Credit Risk – Psychometric Assessments. He shared the characteristics scored by EFL: Read the full post.

Risk 58

Risk Posting Credit Risk Regulatory Compliance 58

Fintech News

SEPTEMBER 4, 2024

These companies, which represent countries such as Malaysia, the Philippines and South Korea, are tackling challenges in sectors such as lending, banking, and business finance, leveraging innovative business models and cutting-edge technologies to boost efficiency and enhance accessibility across the financial services industry. With a US$6.6

FinTech 114

FinTech Cross-Border Payment APIs and Integration Credit Cards 114

Neopay

AUGUST 22, 2024

The European Banking Authority (EBA) and the European Central Bank (ECB) published a joint Report on payment fraud data. The report assesses payment fraud reported by the industry across the European Economic Areas (EEA), which amounted to €4.3bn in 2022 and €2.0bn in the first half of 2023.

Central Bank 52

Central Bank Volume Payments Authorization 52

Fintech Finance

JANUARY 24, 2024

Tink , the market leader in open banking, has launched ‘Risk Signals’ – a rules-based risk engine that unlocks instant payment experiences across Europe, while minimising risk. In some European markets, bank transfers can take up to three days to settle depending on the scheme, with a chance that the funds never arrive.

Instant Payments 52

Instant Payments Risk Payer Payments 52

FICO

JANUARY 15, 2021

The FICO Blog posts last year reflected that – we wrote about everything from the impact on collections, proactive lender communications with consumers, issues with fraud, and of course, how FICO® Scores were impacted. And as our fourth most popular post explains, the average U.S.

Posting 59

Posting Agreements Credit Cards Consumer 59

Fintech News

OCTOBER 6, 2024

Mutual recognition Source: Depositphotos The agreement covers the recognition of equivalence in the areas of banking, investment services, insurance, asset management and financial market infrastructures for sophisticated clients. In some cases, where the wholesale UK and Swiss markets are already open, the agreement affirms existing access.

Agreements 94

Agreements Cross-Border Risk Management Risk 94

Fintech News

DECEMBER 20, 2023

But despite increased adoption of these novel payment methods, BNPL profitability remains a challenge, hampered by high fixed costs, increasing funding expenses and elevated delinquency rates, a new report by the Bank for International Settlements (BIS) says. million in 2023.

BNPL 99

BNPL Consumer Financial Protection Bureau (CFPB) Settlement Non-Bank 99

The Fintech Times

JANUARY 25, 2024

Filipino payment habits Assessing their payment habits in 2023 compared to 2022, 64 per cent of surveyed Filipino borrowers self-report that they always pay their loans on time, whilst 36 per cent of respondents say they have missed repayments. Forty-eight per cent have also borrowed from friends or family members.

Online and Mobile Banking 59

Online and Mobile Banking Non-Bank Credit Cards Assessments 59

Global Fintech & Digital Assets

FEBRUARY 26, 2024

Implementation of Basel Committee cryptoassets standard to provide additional clarity for banks looking to engage in cryptoassets business. On 20 February 2024, the HKMA also published guidance on digital asset custody services and sale and distribution of tokenised products conducted by banks.

Consulting 52

Consulting Regulations Distributed Ledger Technology (DLT) Stablecoins 52

Global Fintech & Digital Assets

MARCH 5, 2024

Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products. All of this recent guidance aims to deliver more certainty for banks and securities firms seeking to capitalise on developments in digital assets and tokenisation. loyalty points, in-game assets).

Authorization 59

Authorization Product Due Diligence Procedures 59

PYMNTS

DECEMBER 18, 2020

The new regulations, if adopted after a comment period, would require banks and some other institutions to obtain and report the identities of parties engaging in certain digital transactions, including payments involving what are called "unhosted wallets" – effectively secret bank accounts that hold cryptocurrency.

Treasury 141

Treasury Rules Bitcoin Ransomware 141

The Fintech Times

MARCH 6, 2024

The regulatory tides may be changing in the US, as the Office of the Comptroller of the Currency (OCC) suggests banks should be doing more to manage risks related to partnering with fintech firms.

OCC 69

OCC FinTech Non-Bank Regulations 69

Open Banking

APRIL 20, 2023

The updates also include one non-Order-related proposition funded by a member of the CMA9 (proposition P21b). We will assess and respond to all submitted feedback with a view to releasing v3.1.11 08 Dec 2021 Read more Standards OBL publishes Open Banking Standard v.3.1.11 is ready to align with this version (v3.4).

Non-Bank 52

Non-Bank Consulting Assessments Authorization 52

Fintech News

MAY 20, 2024

Post-COVID-19, webinars continue to thrive, owing to their versatility, accessibility, affordability and effectiveness in engaging and educating audiences in an increasingly digital world. The session will be moderated by Urs Bolt, a Fintech and Banking Expert. Similarly, research by GoodFirms found a notable uptick, with 46.5%

FinTech 131

FinTech Embedded Finance BNPL AI 131

Nanonets

APRIL 11, 2023

A report by McKinsey states that by embracing digital lending processes, leading banks have brought down the “time to yes” from weeks to minutes, and “time to cash” from even longer to less than 24 hours. Manual compliance processes increase the risk of non-compliance and may result in costly fines or penalties.

Origination 52

Origination Automation Risk Assessment Underwriting 52

Fintech News

APRIL 16, 2024

Fintech Thailand is poised for significant growth and development in areas including digital banking, open finance, and startup support. With cashless payment becoming ubiquitous, the Bank of Thailand (BOT) is now paving the way for open finance, aiming to enhance consumer access to financial services.

FinTech 115

FinTech Bots Central Bank Innovation 115

Fintech News

MAY 19, 2024

Data monetization in the banking sector has become increasingly prevalent in recent years, driven by evolving customer expectations, new data sharing rules and opportunities for new revenue streams. Data monetization refers to the process of using data to obtain quantifiable economic benefit. This enhances the overall customer experience.

Rules 81

Rules Non-Bank Audit Central Bank 81

The Fintech Times

JANUARY 9, 2024

The platform, which is backed by Lloyds Bank, targets cash flow shortages, a primary cause of delayed payments in the construction sector. He joins Optimum with more than 40 years’ experience within invoice finance and the financial services, including a long stint at Lloyds Banking Group.

FinTech 59

FinTech Non-Bank Cross-Border Payments Embedded Finance 59

EBizCharge

APRIL 29, 2024

A factoring company specializes in purchasing outstanding invoices by assessing the credit risk associated with unpaid invoices and providing an advance rate, which is a percentage of the invoice’s value. The AR factoring company evaluates these invoices by assessing the debtor’s creditworthiness.

Accounts 52

Accounts Credit Risk Non-Bank B2G 52