Fintech Finance

AUGUST 27, 2024

EURI will be available on the Ethereum and BNB Smart Chain blockchains and subject to transaction monitoring and risk assessments for fraud identification and general risk mitigation.

Stablecoins 116

Stablecoins Multi-Currency Regulations Risk Mitigation 116

Stax

AUGUST 22, 2024

In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Payment APIs and Integration 88

Finovate

AUGUST 30, 2024

Risk mitigation and compliance solution provider ValidiFI announced this week that Community Bank & Trust selected its technology to help verify bank account ownership and possession for potential borrowers. ValidiFI was acquired by alternative bank and payment data firm Ribbit last June.

Community Banks 52

Community Banks Tax Refunds Accounts Risk Mitigation 52

The Fintech Times

AUGUST 28, 2024

EURI will be available on the Ethereum as well as the BNB Smart Chain blockchains and subject to transaction monitoring and risk assessments for fraud identification and general risk mitigation.

Stablecoins 80

Stablecoins Multi-Currency Risk Mitigation Risk Assessment 80

Fintech News

FEBRUARY 21, 2024

This guidance is intended to supplement existing MAS notices and guidelines on technology risk management and cybersecurity.

Third Party Vendors 109

Third Party Vendors Cybersecurity Mitigation Encryption 109

Seon

JUNE 24, 2024

The rise of online transactions and evolving cybercrime tactics highlight the urgent need for strong identity risk management and monitoring. Identity theft presents significant challenges to businesses, making proactive risk mitigation essential for regulatory compliance, trust, asset protection, and operational integrity.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

Finovate

DECEMBER 12, 2023

“Any informed ESG assessment must be built on as large a data foundation as possible. In addition to ESG-related adverse events and controversies, ESG Fusion also provides assessments of industry-inherent risk of any given company. ” ESG Fusion leverages AI to consume large amounts of unstructured data. million (€50.5

Assessments 59

Assessments Risk Mitigation AI Mitigation 59

Nanonets

SEPTEMBER 22, 2023

Effective  vendor management  contributes to cost optimization,  risk mitigation , and quality assurance.   Risk mitigation : Thorough   vendor evaluation   and ongoing monitoring can minimize the risks associated with disruptions, delays, or subpar product or service quality.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40

PYMNTS

JUNE 24, 2020

The insurance industry is all about risk mitigation, and not only when it comes to underwriting policies. Averse to the risk of change, the property and casualty (P&C) insurance arena has been resistant to embrace electronic payments when disbursing funds to claimants.

Business Continuity 114

Business Continuity Mitigation Risk Continuity 114

PYMNTS

MARCH 20, 2020

But lenders themselves, even industry incumbents, are also quickly recognizing the potential that unlocking data has not only on improving the SMB borrowing experience, but on significantly improving their own internal operations, particularly when it comes to risk mitigation.

Risk Mitigation 93

Risk Mitigation Mitigation Payment APIs and Integration Risk 93

Stax

JANUARY 8, 2024

A sound and unambiguous risk management policy provides an effective starting point for all the subsequent actions at the managerial and operational levels. Conduct regular risk assessments and audits: The risk management process is extremely dynamic with new risks and challenges emerging all the time.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

PYMNTS

MARCH 8, 2019

Through the partnership, Zurich Insurance Group will provide corporate customers with riskmethods’ supply chain risk identification and management technologies. We are committed to offering our customers solutions that go beyond risk transfer,” Zurich Global Head of Property and Energy Rob Kuchinski said in a statement.

Risk 51

Risk Risk Mitigation Mitigation Risk Management 51

Neopay

MARCH 4, 2024

Neopay’s suite of services encompasses regulatory compliance, risk assessment, training, and ongoing support, enabling firms to stay abreast of evolving regulatory landscape and proactively address compliance challenges.

Compliance 52

Compliance Mitigation Risk Mitigation Regulatory Compliance 52

PYMNTS

OCTOBER 23, 2020

"That process of gathering data and having your expert personnel evaluate it to determine that risk is definitely the biggest challenge.". Risk Focus In Flux. Pre-pandemic, cybersecurity risks among third-party partners like suppliers had been top priority. Thinking Ahead.

Risk 57

Risk Risk Mitigation Mitigation Cybersecurity 57

PYMNTS

SEPTEMBER 25, 2018

The updates include connectivity with third parties, allowing its Fusion Framework System users to engage with their suppliers and other third parties in supply chains to streamline the vendor risk assessment process. The enhancement means third parties can more easily participate in a holistic risk mitigation strategy, Fusion noted.

Risk Management 73

Risk Management Risk Risk Mitigation Risk Assessment 73

PYMNTS

MARCH 23, 2020

“But at the same time, they have all lacked a credible tool to conduct an assessment of these [SMBs] in an independent way.” “We’re be able to source directly from current accounts and have an [SMB] risk score calculated on a daily basis — that’s really amazing.” Expanding The Data Scope.

Underwriting 75

Underwriting Risk Assessment Risk Mitigation Mitigation 75

PYMNTS

NOVEMBER 2, 2020

The acquisition of LLamasoft will strengthen the value of its business spend management (BSM) software for the corporate sector, at a time when firms across the board are struggling to accurately assess and balance supply and demand, Coupa noted in a press release.

Risk Mitigation 76

Risk Mitigation On-Demand NOV Acquirers 76

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

Fintech News

JULY 24, 2024

Finally, the Evaluation stage ensures continuous assessment and improvement. By automating routine tasks and leveraging AI for complex decision-making, banks can significantly reduce the risk of human error while improving overall operational efficiency.

Finance 115

Finance Risk Mitigation Automation AI 115

Center for Payments

SEPTEMBER 15, 2022

The purpose of a Business Continuity Plan is to focus on a subset of operational risk factors, identifying, assessing, and reducing risk to an acceptable level through the development, implementation, and maintenance of a written, enterprise-wide business continuity plan.

FFIEC 40

FFIEC Risk Assessment Business Continuity Federal Reserve 40

The Fintech Times

JUNE 3, 2024

Having assessed their in-house strengths and weaknesses and developed a clear understanding of the competitive market, the next crucial move is ensuring stakeholders from C-level to operational teams are involved. You need to carefully assess and continuously monitor this risk factor.

AI 69

AI Risk Mitigation Assessments Consulting 69

The Finance Weekly

AUGUST 26, 2023

Both industry and government regulatory bodies, along with investors, are intensively examining the risk management strategies and protocols of enterprises. Across various sectors, boards of directors are increasingly mandated to assess and disclose the effectiveness of risk management processes within their respective organizations.

Risk Management 52

Risk Management Risk AI Liquidity Risk 52

PYMNTS

JULY 24, 2020

So it’s not exactly surprising that supply chain risk mitigation efforts can fall by the wayside. It’s key for businesses to not only streamline and digitize their supplier risk assessments but for those firms to manage that risk through a holistic pane. ”

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

PYMNTS

JANUARY 7, 2021

The technology can identify patterns and outliers within the data that can more quickly raise any red flags for a bank and reinforce standard risk mitigation methods like Know Your Customer (KYC). You have to look at risk in its entirety," said Gugelmann. "You You have to look at risk in its entirety," said Gugelmann.

Finance 70

Finance Risk Mitigation Mitigation Cross-Border 70

PYMNTS

JUNE 25, 2020

Third-party risk management will emerge as an essential component of business resiliency for corporate treasurers, said Barker. In the short term, asking these risk questions and developing metrics-based scorecards can support a real-time assessment of where organizations stand today.

Mitigation 60

Mitigation Risk Mitigation Treasury Risk 60

PYMNTS

JANUARY 24, 2019

That’s the idea behind Dun & Bradstreet’s D&B Compass solution, launched this week to automate third-party risk management for procurement and compliance professionals. The launch of D&B Compass reflects a changing ecosystem of corporate procurement compliance and the buyer-supplier relationship , noted Alster.

Compliance 76

Compliance Due Diligence Risk Mitigation Risk 76

Nanonets

MAY 31, 2023

This empowers finance professionals to make informed decisions about budgeting, cash flow management, investment opportunities, and risk mitigation. Organizations need to assess the financial feasibility and scalability of AI implementations, evaluating the costs and ensuring the benefits outweigh them.

AI 122

AI Finance Fraud Detection Mitigation 122

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

PYMNTS

MAY 2, 2019

Their partnership will focus on promoting regulatory compliance and digitization of cross-border trade , with the NextGen solution providing analysis of trade transactions, natural language processing to assess unstructured data and customer activity and process automation that aligns bank resources and policies. ”

Transactions 53

Transactions AI Cross-Border Risk Mitigation 53

Nanonets

APRIL 24, 2024

The auditor assesses risks, identifies key areas for review, and develops an audit plan tailored to the organization's specific needs. They assess the adequacy and accuracy of documentation to support the integrity of financial records.

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

Fintech News

JUNE 5, 2024

The Strategy-Risk model features a distinctive two-loop design – the strategy loop and the risk loop – with each loop comprising seven nodes that represent the different stages and activities undertaken in an outsourcing process. What makes the Strategy-Risk model a robust tool is its iterative sequential approach.

FinTech 106

FinTech Mitigation Risk On-Demand 106

PYMNTS

JANUARY 30, 2019

The PayNet tool uses the firm’s proprietary database to predict borrower risk, and will deploy Numerated’s custom rules-based and borrower segment-based credit decision-making capabilities to match lenders’ risk mitigation needs.

Risk 57

Risk Risk Mitigation Small Business Underwriting 57

FICO

FEBRUARY 20, 2017

Proactively understanding and addressing your organization’s security posture means you can demonstrate that your risk mitigation strategies are working to protect your organization’s digital assets. The post Two Advantages to Measuring Your Cybersecurity Posture appeared first on FICO.

Cybersecurity 40

Cybersecurity Risk Mitigation Mitigation Assessments 40

FICO

FEBRUARY 7, 2017

Proactively understanding and addressing your organization’s security posture means you can demonstrate that your risk mitigation strategies are working to protect your organization’s digital assets.

Cybersecurity 51

Cybersecurity Risk Mitigation Mitigation Underwriting 51

PYMNTS

JANUARY 25, 2019

Equipment finance company CapX Partners has announced an integration of Moody’s Analytics technology to strengthen its underwriting and risk mitigation capabilities. “Assessing the creditworthiness of small businesses in a cost-effective manner is one of a lender’s most challenging tasks,” he said.

Underwriting 43

Underwriting Small Business Risk Mitigation Underserved 43

The Fintech Times

AUGUST 2, 2024

The high-risk factors take place when firms use AI for risk-mitigation systems, high quality of data sets, logging of activity, detailed documentation, clear user information, human oversight, and a high level of robustness, accuracy, and cybersecurity. An additional 50 per cent say it has value in enhancing accuracy.

AI 59

AI Compliance Regulations Risk 59

Fi911

AUGUST 31, 2023

Key information includes: Finance Charges: The complete cost of the loan, including interest and other charges assessed over the term of repayment. Risk Mitigation Complying with TILA reduces the risk of litigation and regulatory fines. Annual Percentage Rate (APR): The cost of credit expressed as a yearly rate.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Risk Mitigation Non-Bank Online and Mobile Banking 52