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. Regulatory compliance adds another layer of complexity.

Risk 52

Risk Fraud Prevention Deepfake Risk Management 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. The efficiency of the loan process also hinges on the banks’ ability to manage their resources. However, the efficiency of bank lending is often debated.

Risk Management 105

Risk Management Assessments Small Business Innovation 105

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

The Fintech Times

SEPTEMBER 14, 2024

She explains while AI can streamline compliance processes and save compliance teams time to spend elsewhere, firms need to be careful about how they implement it. “This improves customer due diligence by concurrently cross-referencing many databases to verify identities with potential clients and any risks associated with them.

Compliance 69

Compliance AI Process Suspicious Activity Report (SAR) 69

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

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

VISTA InfoSec

JUNE 3, 2024

Compliance with Other Standards and Regulations While GDPR sets a high bar for data protection, organizations must also consider compliance with other relevant standards and regulations. These may include: SOC1/SOC2: Service organization control reports that assess controls related to financial reporting and data security.

MFA 130

MFA Credential PCI DSS Compliance 130

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. AML Screening : Sanctions and watchlist screening, transaction pattern analysis for detecting money laundering activities.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

Nanonets

DECEMBER 13, 2023

2: Proactive Regulatory Compliance AI plays a crucial role in ensuring regulatory compliance in insurance claims processing through the following: Automated Compliance Checks: AI algorithms can be programmed to conduct automated checks against regulatory requirements.

AI 102

AI Process Fraud Detection Compliance 102

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. They can leverage AI algorithms to analyze individual financial histories, spending patterns, and future goals.

AI 88

AI MFA Regulatory Compliance Best Practices 88

Neopay

MARCH 4, 2024

Therefore, prioritising compliance, risk management, and ethical conduct is essential to mitigate the risk of regulatory scrutiny. For firms operating in the financial services sector, being publicly named as subjects of investigation can have significant reputational and business implications.

Compliance 52

Compliance Mitigation Risk Mitigation Regulatory Compliance 52

Clearly Payments

FEBRUARY 23, 2024

They serve as the foundation for assessing the overall health and performance of a payments business. These indicators are typically a smaller set of highly critical metrics that reflect the organization’s performance in key areas such as revenue growth, customer acquisition and retention, operational efficiency, and risk management.

Processors 91

Processors PCI DSS Payments Assessments 91

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

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

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

The Fintech Times

MAY 14, 2024

My previous roles in corporate banking and investments, coupled with my experience in building tech companies, have provided me with a unique blend of financial insight, strategic thinking, client relationship management, risk management, entrepreneurship, and technical expertise.

Compliance 64

Compliance Privacy FinTech Innovation 64

PYMNTS

SEPTEMBER 25, 2019

Industry players will continue to face tighter regulations, but according to Kim Wales, founder and CEO of CrowdBureau , a company that aggregates marketplace lending industry data to establish performance and risk management benchmarks, operating within the confines of the law is a complicated task for this sector.

Compliance 47

Compliance P2P Risk Management Regulatory Compliance 47

Nanonets

APRIL 5, 2023

In the world of lending, risk management is crucial to success. But with a growing number of loan applications and an increasing number of delinquencies, how can lenders effectively manage risk without sacrificing efficiency? The answer lies in automating steps in the lending process.

Automation 52

Automation Process Risk Assessment Assessments 52

Fintech News

JANUARY 16, 2024

Generative AI offers many applications in banking, from enhancing due diligence and risk management to streamlining legal contract generation and code writing. High mortgage rates and inflation pose a risk of stressed customers defaulting on their mortgages, potentially causing government interventions.

AI 112

AI Risk Non-Bank On-Demand 112

FICO

FEBRUARY 11, 2019

APC Intelidat, the credit bureau in Panama, will soon provide regulatory compliance capabilities to its customers and fight financial crime in Panama with a FICO solution. This is the beginning of our relationship with FICO, which is known worldwide for its risk management and financial crime compliance solutions.

Financial Crimes 40

Financial Crimes Crime Due Diligence Money Laundering 40

PYMNTS

JANUARY 24, 2019

By fostering cooperation between procurement and compliance to streamline collection of this data, both functions of the enterprise can become significantly more efficient. Automated risk management solutions can be helpful in theory. That’s only if analysis of that data can be done correctly, however.

Compliance 76

Compliance Due Diligence Risk Mitigation Risk 76

Nanonets

MAY 31, 2023

The need for AI in finance In traditional finance functions, companies often rely on manual processes, extensive paperwork, and repetitive tasks to manage their financial operations. These tasks include data entry, invoice processing, and financial analysis for decision-making, operational planning, and risk management.

AI 122

AI Finance Fraud Detection Mitigation 122

Seon

JUNE 29, 2023

Part of staying compliant with KYT – and thus avoiding fines – involves assessing how effectively your organization has implemented the process. KYT is a regulatory compliance requirement. It achieves this through transaction and behavior monitoring, risk assessment, and alert generation.

Transactions 52

Transactions Due Diligence Money Laundering AML 52

Nanonets

DECEMBER 19, 2023

  💡 According Gartner: “ Sourcing and procurement leadership must invest in supplier risk management, digitalization, future of work and post pandemic recovery. Many eSourcing solutions use AI algorithms for sourcing and assessing regulatory compliance by vendors. 

Request for Information 52

Request for Information RFP Best Practices Risk Management 52

Nanonets

AUGUST 16, 2024

Artificial Intelligence (AI) AI is particularly brilliant at handling complex tasks like fraud detection, risk assessment, and claims adjudication. Advanced AI systems can cross-check claim details against policy data, third-party databases, and historical claim records to detect anomalies and assess the validity of claims.

Automation 52

Automation Process Fraud Detection Payment APIs and Integration 52

Fintech News

JULY 24, 2024

This involves technological considerations, business alignment, and regulatory compliance. Finally, the Evaluation stage ensures continuous assessment and improvement. This proactive approach to operations and maintenance represents a paradigm shift from reactive problem-solving to predictive risk management.

Finance 115

Finance Risk Mitigation Automation AI 115

FloQast

MAY 13, 2024

With access to tools that can analyze big data, you can help with forecasting, cash flow planning, managing risk, and increasing profitability. You can start by assessing what data your organization is collecting and what insights you can extract from that data.

Accounts 52

Accounts Technology Cybersecurity Audit 52

Seon

MAY 10, 2024

Through automating tasks that used to take up much of an analyst’s time, case management systems can quickly highlight and prioritize the most severe alerts. This enables analysts to use their time effectively, closing alerts more swiftly and improving their risk management.

AML 52

AML Money Laundering SARS Suspicious Activity Report (SAR) 52

FICO

JANUARY 4, 2018

A New Way to Score Credit Risk – Psychometric Assessments. Yes, and psychometric risk analytics could expand credit in markets worldwide. 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.

Risk 58

Risk Posting Credit Risk Regulatory Compliance 58

Nanonets

SEPTEMBER 22, 2023

Effective  vendor management  contributes to cost optimization,  risk mitigation , and quality assurance. In  clinical research ,  vendor management  involves stringent  regulatory requirements , including ICH E6 Good Clinical Practice, ISO 14155, FDA 21 CFR Part 50, and Regulation (EU) No 536/2014.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40

PYMNTS

OCTOBER 16, 2019

A majority of FIs plan to invest more in financial crime compliance than fraud risk management, though 43 percent reported no integration between fraud and financial risk compliance. However, more than half (51 percent) characterized their AML risk assessment, specifically, as “very” or “completely” effective.

AML 49

AML Compliance Money Laundering Financial Crimes 49

FICO

MARCH 18, 2021

Concentrations of risk – It’s worth being extra vigilant as to where exposure to credit risks are highest – be it by geography, region, commercial sector or customer segment. An up-to-date assessment of the impact of expected loss of cash inflows and outflows during the coming months and years will need close attention.

Risk 52

Risk Federal Reserve Assessments Credit Risk 52

FICO

MAY 27, 2021

Decision Management Innovation. eDriving , a leading global provider of digital driver risk management programs, partnered with FICO to create a score based on telematic driving data. Credit approvals are up 10 percent, expenses down 25 percent and time taken to assess application reduced by 30 percent. Fraud & Security.

Online and Mobile Banking 52

Online and Mobile Banking Liquidity Risk Risk Fraud Detection 52

FloQast

MAY 9, 2024

They not only uphold regulatory standards but also inform strategic decisions and protect stakeholders’ interests. However, the path to compliance is fraught with challenges , including large upfront costs, organizational chaos, and reactive risk assessment processes.

Compliance 93

Compliance Audit Risk Assessment Assessments 93

PYMNTS

OCTOBER 10, 2018

According to Mugford, fraud and regulatory compliance are a headache for banks and corporates regardless of payment rails used, but remain of paramount importance. “More than ever, though, KYC [Know Your Customer] and risk management are critical to protect a financial institution and its customers.”

Wire Transfer 46

Wire Transfer Wire Wires Cross-Border 46

The Fintech Times

SEPTEMBER 19, 2024

However, risk orchestration is a process promising to help fintechs and financial institutions combine their customer onboarding, authentication and risk management processes into one place. “This is done through the integration of risk management, adaptive risk mitigation, process automation, and real-time analysis.

Risk 59

Risk Financial Crimes AML Risk Management 59

The Fintech Times

AUGUST 29, 2024

Cashfree Payments , the Indian paytech and API banking solutions provider, has launched Secure ID, its end-to-end solution for identity verification, risk assessment and fraud prevention. Today, regulatory compliance is paramount for digital-first businesses to reduce losses and grow. With UIDAI recording 1.96

Checks 69

Checks Risk Assessment Security Payment APIs and Integration 69