CB Insights

FEBRUARY 16, 2022

RapidRatings , a supplier risk management software provider, has raised $200M in a Series C funding round that drew participation from 22C Capital and Spectrum Equity. Want the full post? The post RapidRatings raises $200M from Spectrum Equity for its supplier risk management software.

Risk Management 59

Risk Management Risk Assessments Participant 59

Fintech News

OCTOBER 8, 2024

Under this proposal, DTSPs must apply for a license, and MAS will assess various aspects of the applicant’s business model, financial sustainability, and adherence to international regulatory standards. Additionally, the proposed regulatory framework includes guidelines on technology risk management and cybersecurity.

Service Provider 78

Service Provider Due Diligence AML Money Laundering 78

Fintech News

SEPTEMBER 15, 2024

XenCapital, since its inception in 2021, has disbursed over US$ 700 million in loans to businesses, focusing on risk management and understanding merchant needs across the region. The company had recently raised US$4.3 million in a Series B funding round led by Kenanga Investors who contributed US$4 million to the round.

Security 116

Security Financial Inclusion Risk Management Assessments 116

Fintech Review

JUNE 12, 2024

We explore the innovations in personalised insurance products, the role of IoT devices in data collection and risk assessment, and the challenges faced by established insurance companies integrating new technologies. Enhanced Risk Assessment IoT data provides insurers with a more accurate understanding of risk profiles.

Risk Assessment 96

Risk Assessment Regulatory Compliance Assessments Risk Management 96

Fintech News

APRIL 16, 2024

This collaboration aims to introduce AI-led credit risk management to KBZ Bank, enhancing its ability to assess creditworthiness across retail and SME products with greater accuracy and efficiency. said Sanjay Uppal, Founder and CEO of FinbotsAI.

Credit Risk 108

Credit Risk Risk Management AI Assessments 108

Fintech News

AUGUST 6, 2024

The MAS assessment emphasized the regulator’s role in promoting a sound financial sector, focusing on insurer risk management and long-term policy protection. When assessing a change in substantial shareholder, criteria like track record, financial soundness, and fitness are considered. billion (EUR 1.5

Consumer Protection 99

Consumer Protection Consumer Risk Management Best Practices 99

The Fintech Times

SEPTEMBER 11, 2024

Nova Credit ’s Cash Atlas platform will provide cash flow analytics to help lenders on MoneyLion’s platform assess credit risk by using consumer-permissioned bank transaction data. The integration of cash flow data could help expand credit access while maintaining risk management practices.

Underwriting 59

Underwriting Risk Management Credit Risk Issuers 59

FICO

APRIL 10, 2019

for example, the Chamber of Commerce and FICO have launched a quarterly Assessment of Business Cyber Risk that looks at whole industries, through a roll-up of the FICO® Cyber Risk Score. As companies learn their FICO Cyber Risk Score, it raises the question: What are our recommendations for cyber risk management?

Risk Management 40

Risk Management Risk Best Practices Compromise 40

Fintech Finance

AUGUST 7, 2024

In addition to issuer processing, Orenda will benefit from Tribe’s proprietary Risk Monitor platform, which allows for real-time assessment of banking transactions against an array of predefined conditions. It also enables the real-time assessment against global sanctions, PEP and Adverse Media databases.

Issuers 105

Issuers Process Payment APIs and Integration Fraud Prevention 105

The Fintech Times

APRIL 15, 2024

“By analysing big data and rapidly assessing risks, AI empowers financial companies to make well-informed decisions. However, a significant revolution lies ahead – the personalisation of services based on individual user assessments. “Finally, AI is reducing risk in the embedded insurance space.

Embedded Finance 134

Embedded Finance AI Finance Assessments 134

Fintech Finance

AUGUST 23, 2024

In addition to issuer processing, SetldPay will also benefit from Tribe’s proprietary Risk Monitor platform, which allows for real-time assessment of card transactions against an array of pre-defined conditions, along with the real-time assessment against global sanctions, PEP and Adverse Media databases.

Issuers 98

Issuers Process Reconciliation AML 98

Fintech News

FEBRUARY 21, 2024

In response, the National Institute of Standards and Technology (NIST) has initiated a global effort to standardise post-quantum cryptography (PQC), which includes identifying quantum-resistant cryptographic algorithms compatible with existing communication protocols to safeguard against CRQC threats.

Third Party Vendors 104

Third Party Vendors Cybersecurity Mitigation Encryption 104

Fintech News

MAY 8, 2024

New measures that will take effect this year include mandatory risk-awareness assessments for customers, bans on trading incentives, and restrictions on providing credit for cryptocurrency transactions. In November last year, MAS had also approved stablecoin issuance aligned with its proposed regulatory framework. .”

Addressing 100

Addressing Stablecoins Monetary Loss Cryptocurrency 100

Fintech News

JANUARY 25, 2024

ServiceNow Gen AI to help EY risk management The alliance with EY involves ServiceNow offering solutions in generative AI (Gen AI) for compliance, governance, and risk management. ” The post ServiceNow Lands AI Partnerships with Visa and EY appeared first on Fintech Singapore.

AI 108

AI Disputes Risk Management Risk Assessment 108

The Fintech Times

APRIL 16, 2024

With this move, KBZ Bank will help accelerate the adoption of AI-led credit risk management in Myanmar. Integrating CreditX With CreditX, FinbotsAI’s AI-powered credit scoring platform, KBZ Bank will be able to assess the creditworthiness of applicants across retail and SME products.

Checks 69

Checks Credit Risk Risk Management Assessments 69

Fintech Review

JANUARY 24, 2024

One might argue that the rigorous processes banks employ in assessing loan applications reflect a diligent risk management approach. The efficiency of the loan process also hinges on the banks’ ability to manage their resources. The post Are banks good at lending? appeared first on Fintech Review.

Risk Management 105

Risk Management Assessments Small Business Innovation 105

Fintech News

OCTOBER 6, 2024

Based on a thorough assessment of each other’s regulatory and supervisory frameworks, the agreement provides for mutual recognition where they achieve comparable outcomes. Under the Berne Financial Services Agreement, the two countries have developed a layered approach to risk management that overcomes this challenge.

Agreements 94

Agreements Cross-Border Risk Management Risk 94

Fintech News

JUNE 2, 2024

Additionally, the tests could lead to the wider use of information sharing in fraud detection, building on its success in assessing cybersecurity threats. These pilots are rooted in responsible use of AI and are aligned with emerging global standards, such as ISO 42001, the NIST AI Risk Management Framework, and the EU AI Act.

Cross-Border Payments 113

Cross-Border Payments Cross-Border SWIFT AI 113

The Fintech Times

JULY 20, 2024

HKMA explained it selected participants based on which institutions it felt demonstrated a genuine interest in developing a stablecoin issuance business in Hong Kong with a reasonable business plan, during the assessment process. RD Technologies will continue to contribute to the development of the Web3 ecosystem in Hong Kong.”

Stablecoins 105

Stablecoins Participant Cross-Border Issuers 105

Fintech Finance

JULY 24, 2024

PayU GPO , the leading online payment service provider operating in over 50+ emerging markets, today announces the appointment of Simona Covaliu as Chief Risk Officer. Security : Implementing new solutions to support staying ahead of evolving threats.

Risk 98

Risk Privacy Compliance Regulatory Compliance 98

Neopay

AUGUST 5, 2024

Understanding risk management is also a crucial part of the training. This involves identifying and mitigating risks associated with safeguarding and understanding potential threats and vulnerabilities to client assets and data. Senior management must also receive training to understand safeguarding processes and risks.

Compliance 52

Compliance Procedures Audit Risk Management 52

Finovate

MARCH 13, 2024

Compliance and oversight The ruling specifically calls out banking as an “essential private and public service” and categorizes it as a high-risk use of AI. Therefore, banks using AI systems must assess and reduce risks, maintain use logs, be transparent and accurate, and ensure human oversight.

AI 111

AI Laws Fraud Detection Assessments 111

Neopay

DECEMBER 6, 2023

The Financial Conduct Authority (FCA) employs skilled person reviews, also known as Section 166 reviews, to assess and rectify concerns within financial institutions. Skilled person reviews are an integral component of the FCA’s regulatory toolkit, initiated to obtain an independent and expert assessment of a firm’s activities.

Audit 59

Audit Regulatory Compliance Financial Crimes Compliance 59

Finovate

SEPTEMBER 23, 2024

Power f raud detection and risk management While GenAI can continuously monitor transactions to detect anomalies and identify fraudulent patterns, Agentic AI can instantly flag suspicious activities, alert relevant parties, and even block transactions. Photo by cottonbro studio The post Are You Ready for Agentic AI?

AI 105

AI Assessments Compliance Automation 105

Seon

SEPTEMBER 20, 2024

SEON recently brought together industry leaders from the online lending space to discuss the evolving landscape of fraud prevention and risk management. Achieving this balance is critical to satisfying customers without undermining risk management strategies.

Risk 52

Risk Fraud Prevention Deepfake Risk Management 52

FloQast

JANUARY 2, 2024

Businesses that navigate the ever-changing risk management landscape are the ones that will be most likely to succeed. PWC’s 2022 Global Risk Survey reveals that organizations embracing risk management as a strategic organizational capability are twice as likely to expect revenue growth of 11% or more in the following year.

Risk Management 52

Risk Management ISOs Risk Mitigation 52

The Fintech Times

FEBRUARY 8, 2024

In this week’s Behind the Idea, we chat to Gill to learn how Confide evolved from addressing the lessons learned from the Wirecard scandal into a holistic platform for governance, risk management, and integrity assurance. Confide was born out of a necessity to bridge the gap in corporate governance and risk management.

Risk Management 59

Risk Management Governance Government Risk Assessment 59

Global Fintech & Digital Assets

DECEMBER 21, 2023

The OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in BNPL lending. The OCC expects that banks engaged in BNPL lending “do so within a risk management system that is commensurate with associated risks.” By Arthur S.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

FICO

FEBRUARY 12, 2023

Home Blog FICO Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti The most popular posts in our Customer Development category dealt with digital banking, optimizing credit line increases, loan pricing and machine learning for credit risk models. Here are extracts from those customer development posts.

Posting 52

Posting Online and Mobile Banking Credit Limit Risk 52

Finovate

FEBRUARY 1, 2024

The OCC said the California-based bank “engaged in unsafe or unsound practices,” stating that it failed to establish effective risk management and internal controls. Strengthen third-party risk management In the era of banking-as-a-service (BaaS), multiple aspects of banking leverage third parties, and for good reason.

OCC 59

OCC Office of the Comptroller of the Currency Risk Management Compliance 59

Neopay

JUNE 27, 2024

It is crucial to conduct a thorough assessment of your financial position and ensure that you meet the minimum capital requirements. To demonstrate financial adequacy, firms should consider the following: Capital Planning: Develop a robust capital planning strategy that takes into account potential risks and contingencies.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

The Fintech Times

FEBRUARY 24, 2024

It also lays down stringent requirements to ensure consistent security practices throughout the European Union, covering key areas such as ICT risk management, incident management and reporting, operational resilience testing, third-party risk management, and information sharing.

Compliance 69

Compliance Finance Risk Management Risk 69

FICO

JANUARY 4, 2018

What were some of the most interesting risk analytics topics last year? Judging from the views on the FICO Blog, risk professionals are keenly interested in new ways to approach risk analytics. Here were the top 5 posts of 2017 in the Risk & Compliance category: US Average FICO Score Hits 700: A Milestone for Consumers.

Risk 58

Risk Posting Credit Risk Regulatory Compliance 58

The Fintech Times

SEPTEMBER 2, 2024

As part of the collaboration, Ant International will explore integrating its AI-driven credit tech solutions, including an automated and intelligent risk management engine, into the Dock One platform.

Financial Inclusion 72

Financial Inclusion AI Underserved Underwriting 72

Neopay

MAY 7, 2024

The FCA aims to assist firms in understanding regulatory expectations while empowering them to assess the adequacy of their financial crime systems and controls. This includes references to the travel rule and updates to sections on risk assessment and fraud.

Financial Crimes 52

Financial Crimes Crime Risk Assessment Money Laundering 52

Neopay

MARCH 7, 2024

Risk Assessment weaknesses: Annex 1 firms have demonstrated inadequacies in conducting comprehensive Business Wide Risk Assessments and Customer Risk Assessments, leaving significant gaps in their AML frameworks. The post FCA issues warning to firms over AML failings appeared first on Neopay.

AML 52

AML Financial Crimes Crime Risk Assessment 52

Fintech Finance

AUGUST 2, 2024

The solution integrates seamlessly with financial systems, providing real-time alerts, customizable rule engines, and robust data management for effective transaction validation and risk management. Post-Execution Monitoring: ClienTek ML analyzes and scores client transaction behavior post-execution.

Instant Payments 89

Instant Payments Transactions Payment APIs and Integration Compliance 89