Stax

AUGUST 22, 2024

Implementing an effective risk management framework can help you minimize the impact of potential threats, ensure business continuity, and recover quickly in the face of adversity. Additionally, you need to conduct regular compliance training for your staff and internal audits.

Risk Management 88

Risk Management Risk Regulatory Compliance Payment APIs and Integration 88

Nanonets

DECEMBER 13, 2023

Audit Trail and Transparency: AI Insurance Claims Processing systems maintain detailed audit trails of all activities within the claims processing workflow. This transparency is essential for regulatory audits, allowing authorities to review the entire process and verify that each step adheres to compliance requirements.

AI 102

AI Process Fraud Detection Compliance 102

Neopay

JUNE 27, 2024

Operational resilience and business continuity: Develop a comprehensive business continuity plan to ensure uninterrupted operations in the event of disruptions or emergencies. This includes redundant systems, backup facilities, and disaster recovery procedures.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

Global Fintech & Digital Assets

MARCH 5, 2024

Banks should have adequate resources, ensure sufficient training for staff, introduce appropriate reporting lines and senior management oversight, and establish business continuity policies. Banks’ contingency and disaster recovery arrangements should cover any disruption to the outsourced services.

Authorization 59

Authorization Product Due Diligence Procedures 59

Global Fintech & Digital Assets

DECEMBER 11, 2023

Requirements related to business continuity and disaster recovery have also been included for the first time. By April 29, 2024, certified entities must comply with the amended risk assessment, cybersecurity policy, penetration testing and monitoring, training, and audit requirements.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59