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. Lenders are now focusing on alternative data signals to mitigate risk without excluding valuable customers. Regulatory compliance adds another layer of complexity.

Risk 52

Risk Fraud Prevention Deepfake Risk Management 52

Fintech News

AUGUST 11, 2024

Thailand’s Securities and Exchange Commission (SEC) has officially launched the Digital Asset Regulatory Sandbox to support the development and testing of digital asset services in a real-world environment. The SEC will assess participants based on criteria such as capital adequacy, management structure, and operational readiness.

Regulatory Compliance 115

Regulatory Compliance Participant Advisors Adjustments 115

PYMNTS

APRIL 24, 2020

These circumstances have brought to the fore what has long been a central concern for lenders: assessing and managing credit risk. This vital task is complicated even in normal times due to the multitude of financial risk factors in play at any given time. percent reported using AI for underwriting and risk assessment purposes.

Credit Risk 100

Credit Risk Risk AI Underwriting 100

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. In this guide, we discuss the dynamics of skilled person reviews, providing insights into effectively navigating this intricate regulatory landscape.

Audit 59

Audit Regulatory Compliance Financial Crimes Compliance 59

Innovative Payments Association

AUGUST 29, 2024

Conduct a Risk Assessment Before building a compliance program, businesses should conduct a thorough risk assessment to identify potential compliance risks. This includes assessing the risk of money laundering, financial crime, and regulatory violations.

Cannabis Banking 52

Cannabis Banking Boot Camp Compliance Money Laundering 52

VISTA InfoSec

OCTOBER 20, 2023

Regulatory Compliance : Meets requirements like HIPAA that mandate disaster recovery plans. Perform ePHI Risk Assessment: Potential Threats: Identify threats to ePHI assets, including natural disasters, technical issues, and security threats. Service Continuity : Ensures essential healthcare services remain operational.

Disaster Recovery 130

Disaster Recovery Regulatory Compliance Procedures Duplicate 130

The Finance Weekly

OCTOBER 15, 2023

This article can help CFOs see the exciting opportunities of Generative AI, while also understanding the risks involved. This improves forecasting and helps in , managing risks better , leading to better choices. 5 Tips for CFOs to Limit the AI Risks Ensure Responsible AI Implement strong safeguards to prevent misuse of AI technology.

AI 52

AI Risk Automation Data Security 52

Neopay

JUNE 27, 2024

Your senior team will all need to have understand the obligations on the firm and be able to prioritise regulatory compliance and its impact across the business. Additionally, firms should stay updated on regulatory changes and developments in the payments industry.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

VISTA InfoSec

AUGUST 22, 2023

As technology advances and the use of biometric data becomes more prevalent, it is crucial to address the privacy concerns and regulatory compliance associated with this sensitive data. Artificial Intelligence (AI) can also be utilized to ensure compliance and responsible handling of biometric data.

Privacy 130

Privacy Compliance Legal Best Practices 130

Fintech Review

JUNE 18, 2024

Standardize portfolio management procedures and segregate duties to minimize operational risk. Foster a culture of compliance. Develop workflows that embed regulatory compliance into every aspect of hedge fund operations. Assess operational risk regularly. Avoid costly errors and regularly lapses.

Reconciliation 98

Reconciliation Compliance Regulatory Compliance Best Practices 98

The Fintech Times

SEPTEMBER 14, 2024

Hilary Wandall , chief ethics and compliance officer at Dun & Bradstreet “AI is beginning to play a pivotal role in streamlining certain regulatory compliance processes within the fintech industry. “Likewise, machine learning algorithms continuously learn from data, improving accuracy over time.

Compliance 69

Compliance AI Process Suspicious Activity Report (SAR) 69

Fintech News

MARCH 3, 2024

In her new role at FOMO Group , Cindy will be essential in advancing the company’s compliance infrastructure, ensuring adherence to the diverse regulatory landscapes of the jurisdictions in which the company operates. FOMO Group has consistently demonstrated its commitment to the highest standards of compliance.

Compliance 106

Compliance AML Money Laundering Regulatory Compliance 106

FICO

JULY 31, 2019

As TPRM or third-party risk management grows in importance, so does cybersecurity risk assessment as part of it. The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management.

Risk 70

Risk Security Risk Assessment Risk Management 70

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. CEO of ComplyTek, says: “ Effective transaction screening and monitoring cannot be separated from the overall risk scoring of customers.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

The Fintech Times

JUNE 19, 2024

Fenergo explained it plans to help First Abu Dhabi Bank to deliver end-to-end digital client onboarding and risk assessment for sanctions, AML and KYC. This will enable First Abu Dhabi Bank to straight-through-process its low-risk customers, enhancing onboarding efficiency and minimising costs.

AML 59

AML Compliance Money Laundering Regulatory Compliance 59

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.

AML 52

AML Financial Crimes Crime Risk Assessment 52

Fintech Review

JANUARY 24, 2024

One might argue that the rigorous processes banks employ in assessing loan applications reflect a diligent risk management approach. Innovative strategies like peer-to-peer platforms and AI for risk assessment are revolutionizing the market, offering tailored loans and faster approvals, thereby boosting customer satisfaction.

Risk Management 105

Risk Management Assessments Small Business Innovation 105

Neopay

AUGUST 5, 2024

Effective safeguarding training covers the policies, procedures, and regulations that must be adhered to in order to minimise risks and maintain compliance with regulatory standards. Understanding risk management is also a crucial part of the training.

Compliance 52

Compliance Procedures Audit Risk Management 52

Neopay

JULY 4, 2024

Nigel Reed, COO of Neopay Ltd, has personally supported over 100 firms in gaining authorisation from the FCA and continues to provide support to them after authorisation to help them with their AML and regulatory compliance. Thanks for taking time out to talk to us. What methods does it use for its data led approach?

AML 52

AML Due Diligence Suspicious Activity Report (SAR) Risk Assessment 52

The Fintech Times

APRIL 8, 2024

While BaaS solutions offer a lot of potential, many have concerns regarding the regulatory compliance of providers and the third parties that use them. To find out more about the regulatory hurdles the BaaS space possesses, we reached out to industry leaders and asked them which regulatory challenges fintechs should be most aware of.

FinTech 116

FinTech Regulatory Compliance BSA Money Laundering 116

FICO

MARCH 18, 2021

At FICO , we’re working with our strategic clients to ensure they maintain a solid risk analysis and risk modelling programme. Right now, there are a host of factors that need to be considered when calculating ongoing exposure to risk. It’s crucial to keep pace. . by Michelle Beetar.

Risk 52

Risk Federal Reserve Assessments Credit Risk 52

Nanonets

DECEMBER 13, 2023

In addition, AI can help insurance firms evaluate risk with high accuracy by analyzing large volumes of data. 1: Increased Accuracy and Reduced Errors AI in insurance claims processing plays a pivotal role in enhancing accuracy and reducing errors by automating various tasks and mitigating the risks associated with manual processes.

AI 102

AI Process Fraud Detection Compliance 102

VISTA InfoSec

JUNE 3, 2024

A GDPR-compliant password policy should enforce unique passwords for each account to mitigate the risk of credential stuffing attacks. Regular training sessions and awareness programs can help users understand the risks associated with poor password management and the benefits of adhering to the organization’s password policy.

MFA 130

MFA Credential PCI DSS Compliance 130

The Fintech Times

MARCH 25, 2024

This debate has become more complex and nuanced in the context of open finance, where aligning technology investments with key objectives such as regulatory compliance, secure data management, and enhancing customer interactions takes precedence.

Finance 115

Finance Regulatory Compliance Compliance On-Demand 115

Finovate

JUNE 20, 2024

The rapid evolution of technology turned regulatory compliance into a daunting frontier. Misra , who sits at the forefront of this arena, is a pioneer in using LLMs to do the heavy lifting when it comes to compliance. Priya V Misra : EKAI is the first AI compliance ‘co-worker’ for risk and finance professionals.

Compliance 52

Compliance Regulatory Compliance Regulations AI 52

The Fintech Times

OCTOBER 12, 2024

Your winners are… Gaialens : A Greenwashing Analytics Solution enabling investors to assess the greenwashing risk of funds and companies. ESG 360 : An AI-Driven Platform using existing ESG Reports to produce a gap analysis for regulatory compliance that provides full audit capability.

FinTech 52

FinTech Regulatory Compliance AI Professional Development 52

FICO

FEBRUARY 15, 2021

All Digital Transactions Monitored For High-risk Behaviour. Eurobank has managed to meet the new regulatory requirements for European directives AML4D & 5D, to check for money laundering across real-time processes, such as digital onboarding without a significant increase in false positives.

Money Laundering 52

Money Laundering Regulatory Compliance Correspondent Bank AML 52

VISTA InfoSec

FEBRUARY 13, 2024

Vulnerability assessments involve scanning systems for known weaknesses, while penetration testing (or pen testing) takes a more aggressive approach by simulating cyberattacks to evaluate the effectiveness of current security measures. They provide a structured approach to evaluate and enhance the effectiveness of cybersecurity measures.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

The Payments Association

OCTOBER 3, 2024

Sophisticated credit-scoring algorithms allow for more accurate risk assessment, enabling banks to extend credit responsibly and efficiently. Implementing advanced data management solutions enables seamless data integration and real-time analytics and ensures regulatory compliance.

Payment APIs and Integration 88

Payment APIs and Integration Online and Mobile Banking On-Demand Process 88

Nanonets

APRIL 11, 2023

The need to minimize risk and maintain loan portfolio quality : In a volatile economic environment, lenders must carefully manage risk to protect their loan portfolios and maintain financial stability. 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

Neopay

MARCH 4, 2024

Therefore, prioritising compliance, risk management, and ethical conduct is essential to mitigate the risk of regulatory scrutiny.

Compliance 52

Compliance Mitigation Risk Mitigation Regulatory Compliance 52

Nanonets

MARCH 27, 2023

Credit Checks: Credit checks are an essential part of the mortgage application process as they help to assess the borrower's creditworthiness. Underwriting : Underwriting is the process of assessing the borrower's creditworthiness, evaluating the risks and ensuring that the loan meets the lender's criteria.

Automation 52

Automation Regulatory Compliance Underwriting Origination 52

Neopay

JUNE 3, 2024

For example, if you intend to offer e-money services, purchasing a firm with only payment institution permissions would necessitate a subsequent variation of permission (VoP), which carries its own risks and approval uncertainties. Regulatory compliance : Assess the target firm’s regulatory history.

Due Diligence 52

Due Diligence Acquirers Regulatory Compliance Compliance 52

Fi911

JANUARY 31, 2024

Redefining Risk Management Machine learning models can swiftly process massive datasets in real-time, identifying unusual transactions or behavioral patterns indicative of fraudulent activity. Navigating the Path Ahead with Caution Banks bear significant overhead costs managing infrastructure, regulatory compliance, and customer service.

AI 88

AI MFA Regulatory Compliance Best Practices 88

Fintech Finance

FEBRUARY 29, 2024

The joint solution allows merchants and fintechs to accelerate time-to-revenue while ensuring regulatory compliance. Deepfakes, synthetic identities and account takeover fraud are growing threats that require advanced identity proofing and risk assessment.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

Seon

SEPTEMBER 20, 2023

Onboarding ensures the KYC process is worthwhile and well-informed by verifying the identity of prospective customers and assessing their risk level. By ensuring identity verification compliance, KYC onboarding increases an organization’s likelihood that it won’t waste its time dealing with illegitimate individuals.

Process 52

Process Due Diligence AML Verification 52

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