Fintech Review

JUNE 18, 2024

By eliminating needless information transfers from spreadsheets, databases, and PDFs, data can be easily shared and utilized by all team members. Ensure auditability and the future success of the fund by keeping detailed records of transactions, valuations, and investor communications. Foster a culture of compliance.

Reconciliation 98

Reconciliation Compliance Regulatory Compliance Best Practices 98

VISTA InfoSec

OCTOBER 25, 2023

Implement Risk Treatment Plan and Statement of Applicability: The Risk Treatment Plan (RTP) in ISO 27001 certifies threat responses and is subject to audit. Compile Risk Assessment Reports For audit and certification, you need to prepare two crucial documents: The RTP and SoA. ISO 27001 offers various risk management options.

Risk Assessment 130

Risk Assessment ISOs Assessments Risk 130

M2P Fintech

OCTOBER 13, 2023

Product and Tech Requirements Webhooks Framework Technical Deep Dive – System Design, Database Design & Retry Framework Product and Tech Requirements Let us try to create webhooks for merchants to receive notifications when an order is successfully paid or failed. Database Design Designing the database is often the simplest aspect.

Database 52

Database Payment APIs and Integration API Transactions 52

VISTA InfoSec

JULY 31, 2023

Regularly Generate Audit Logs : Antivirus software should be active, updated, and generate audit logs regularly. Install Antivirus on All Systems : Install antivirus on all systems commonly infected with malware and ensure regular scans and audits. Access to Audit Logs : This includes tracking access to audit logs.

PCI DSS 130

PCI DSS Security Encryption Compliance 130

The Fintech Times

MARCH 18, 2024

In February, the BSV Association partnered with Aerospike , a leader in real-time, high-performance NoSQL databases, to subject Teranode to a rigorous six-month stress test ahead of its full node implementation later in 2024. However, Teranode is not some whiteboard mirage that teases a technological paradise that never gets any closer.

Blockchain 145

Blockchain Web 3.0 Technology TPS 145

Nanonets

FEBRUARY 27, 2024

Streamlined Audit Trail: The precision of the date extraction and GL coding , and the subsequent automated data export to QuickBooks creates a clear, detailed audit trail. The Compliance Cruise Control:  Continuous, automated audits make life easier. All such receipts are processed in real time.

Automation 52

Automation Database Audit Use Case 52

Stax

JANUARY 8, 2024

To establish an effective risk management program as a PayFac, you must establish a dedicated risk management team, utilize the right tools and technology, develop proper risk management policies and procedures, conduct regular risk audits, and stay up-to-date with the latest industry regulations.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

PYMNTS

JUNE 4, 2019

The GAO released a report today (June 4) saying the bureau is not complying with five of six recommendations it made, which involve assessing the accuracy of the database of drivers’ licenses, mugshots and other identifying photos supplied to the FBI by at least 20 states.

FBI 43

FBI Law Enforcement Database Audit 43

Exact Payments

JANUARY 4, 2024

Remember that failing to meet these standards can result in significant consequences, such as fines, loss of business, and ongoing audits to demonstrate compliance. Maintaining a secure network demands anti-virus mechanisms that consistently remain active, use up-to-date signatures, and generate auditable logs.

PCI DSS 52

PCI DSS Compliance Audit Encryption 52

Nanonets

AUGUST 6, 2024

For instance, in a sports league scenario, while an LLM could provide generic information about the sport or teams, RAG empowers the AI to deliver real-time updates about recent games or player injuries by accessing external data sources like databases, news feeds, or even the league's own data repositories.

AI 52

AI Database Payment APIs and Integration Automation 52

PYMNTS

JANUARY 7, 2020

With all of the services, the Sustainability Cloud intends to allow businesses an accessible, central way for their environmental data to be displayed.

Product 53

Product Database Best Practices Audit 53

The Fintech Times

JANUARY 5, 2024

Graph databases’, which store complex data structures (most commonly used for social networks), and which are very powerful when combined with generative AI (GenAI), will come to the fore. “Breakthroughs in GenAI and transfer learning from top universities and big tech are driving the next wave of innovation around AI. .

AI 75

AI Database Financial Crimes Compliance 75

VISTA InfoSec

JANUARY 22, 2024

d Check a sample of audit logs to confirm PAN is unreadable or not present. b Check data repositories and audit logs to confirm PAN is unreadable. Requirement and Testing Procedures 3.4 b Check several tables or files from data repositories to confirm PAN is unreadable. c Check a sample of removable media to ensure PAN is unreadable.

PCI DSS 100

PCI DSS Encryption Procedures Authorization 100

PYMNTS

JANUARY 26, 2018

The solution can also safeguard information linked to compliance, auditing and regulatory review, the company noted. Blockchain technology is superior to the current centralized, cloud-based databases for recording digital asset transfer and access by third parties,” the company stated.

Blockchain 62

Blockchain Transactions B2B API 62

PYMNTS

JANUARY 14, 2021

AI software providers would have to provide bias audits of their solutions before and after selling them to employers. Russia’s Ministry of Internal Affairs is planning to launch a database of DNA, fingerprint and facial biometric data collected from Russians and visitors by the end of 2023, according to state news agency TASS.

Verification 73

Verification Database AI Audit 73

PYMNTS

APRIL 28, 2019

Earlier this month, the Los Angeles Police Department got rid of its “chronic offender” database after concerns about inaccuracy, as well as an audit from the department’s inspector general that found “significant inconsistencies” in how the database was being used, whether people were informed they were on it and a general “lack of oversight.”.

Law Enforcement 58

Law Enforcement Laws Risk Assessment AI 58

PYMNTS

DECEMBER 4, 2018

Late last month Amazon Web Services (AWS) announced it was rolling out two new solutions designed to enhance the transparency of corporate transactions for companies that have full audit requirements.

Blockchain 83

Blockchain Database Audit Digital Currency 83

PYMNTS

DECEMBER 8, 2019

Asset management, payments and lending are being offered by Microsoft, Amazon, eBay, Baidu, Apple, Facebook and Tencent — all which have colossal databases. The Fed is considering an audit of Big Tech firms’ compliance policies and governance structures.

Regulations 52

Regulations Federal Reserve Financial Inclusion Fed 52

PYMNTS

NOVEMBER 25, 2020

In the case of recognition, an individual’s picture might be compared to millions of other faces in a database, one by one. He said the person would examine a slew of facial images to determine authenticity, and in effect audit the data. Facial recognition is about exposing one’s identity.

AI 141

AI Verification Disaster Recovery Authentication 141

Nanonets

AUGUST 1, 2023

Over the years, the auditing landscape has undergone remarkable transformations, and among the most significant advancements has been the advent of audit automation software solutions. Computer-Assisted Audit Tools and Techniques (CAATTs) have been available to auditors since the early 1990s. The situation has changed now.

Audit 40

Audit Automation Risk Assessment Payment APIs and Integration 40

Nanonets

MAY 11, 2023

The invoice and payment details are archived in the GL for future audits. Missed invoices lead to delayed payments and associated penalties, strained vendor relationships, delays in operation, and audit issues.  This can lead to accrued liabilities over time, escalating pressure at audit periods, and non-compliance.

Process 52

Process Automation Audit Checks 52

FICO

NOVEMBER 30, 2022

These new offerings, however, require integration of internal data along with third-party data, profiles, real-time or streaming data, and perhaps certifying a contract in a Blockchain for security and audit purposes. Over the last few years I’ve worked directly with insurers who provided us with their customer database.

Underwriting 52

Underwriting Database Audit Automation 52

PYMNTS

DECEMBER 26, 2018

. “Blockchain will begin to emerge as a meaningful technology in use cases like auditing and approval workflows, where strict corporate processes must be adhered to for payment authorization. “The industry comes back down to earth on Amazon QLDB [Amazon Quantum Ledger Database] a bit.

Blockchain 80

Blockchain Cross-Border B2B Payments 80

Nanonets

JUNE 13, 2023

Similarly, an accounting department could utilize OCR to digitize receipts and invoices stored in SharePoint, making it easier to extract important financial data for analysis and auditing. You can also extend the workflow by adding postprocessing, validation / approval rules, exports to software / database of your choice.

Database 52

Database Automation Process Fed 52

FICO

MARCH 13, 2017

It might not stand up to an audit — who can reproduce what has been checked? We built an interface between the FICO® TONBELLER® Siron®KYC solution and the ICIJ Offshore Leaks Database. Not only is this database constantly updated, it’s exhaustive: The data covers nearly 40 years. Worst of all, it’s a one-time approach.

Money Laundering 45

Money Laundering Database Due Diligence BSA 45

VISTA InfoSec

JULY 5, 2023

Personal health data, a compilation of information related to a patient such as their Names , Birthdates , Social Security Numbers , and other medical record data , is used to identify their medical history and records stored in a database. A PCI QSA audit can provide assurance that you’re on the right track.

PCI DSS 130

PCI DSS Compliance Data Breach Breach 130

Nanonets

MAY 8, 2023

You can also create a new file on Google Sheets or the database of your choice containing all the extracted data. Nanonets also maintains a proper audit log for third-party inspections so you don’t have to save documents physically. Why should you choose Nanonets?

Reconciliation 52

Reconciliation Automation Process Adjustments 52

Nanonets

JULY 13, 2023

Audit and Record-Keeping Duplicate receipts can create challenges during internal audits or financial reviews. As users upload receipts, Nanonets can compare them to existing records or a database of previously processed receipts.

Duplicate 52

Duplicate Audit Process Rules 52

PYMNTS

NOVEMBER 29, 2018

Amazon Web Services (AWS) is rolling out two new solutions designed to enhance the transparency of corporate transactions for companies that have full audit requirements. ” He spoke at the firm’s re:Invest conference on Wednesday, when the products were announced, separate reports in CNBC said.

Blockchain 61

Blockchain Database Audit Transactions 61

Nanonets

APRIL 15, 2024

Auditing Challenges: Manual reconciliation can pose challenges during audits or financial reviews. Auditors may have difficulty verifying the accuracy and completeness of manual reconciliations, potentially leading to audit findings or discrepancies.

Reconciliation 52

Reconciliation Adjustments Correspondent Checks 52

Nanonets

SEPTEMBER 21, 2023

In addition to aiding in financial transactions, invoices are an integral part of  accounting internal controls  and  audits. Invoices play a crucial role in maintaining accurate accounting records, internal controls, and facilitating  audits.

Audit 40

Audit Legal Accounts Transactions 40

Nanonets

JANUARY 17, 2024

The expense report enables more thorough auditing throughout the permitting process than just showing the total expenditures incurred. Once the expense is completely approved, the data is exported to the system of choice like Xero, NetSuite, Google Sheets, or other databases. What should you include in your expense report?

Automation 52

Automation Reconciliation Accounts Audit 52

Fintech News

MAY 22, 2024

Founded in late 2015, the company provides regulated entities with tools to manage audit, risk, and compliance programs effectively. Arctic Intelligence (Australia) Headquartered in Sydney, Australia, Arctic Intelligence is a multi-award-winning regtech company specializing in financial crime risk assessment technologies.

Financial Crimes 67

Financial Crimes Crime APACS Risk Assessment 67

Segpay

MARCH 25, 2024

These include conducting risk assessments, implementing measures to mitigate systemic risks, appointing compliance officers, allowing external audits, and providing access to your data to researchers. You will face one set of requirements if you reach about 45 million users or approximately 10% of the EU population.

Rules 52

Rules Regulations Privacy Risk Assessment 52

Nanonets

AUGUST 23, 2023

It could be exporting the data to your ERP or CRM system or updating your databases. Lastly, this workflow makes it easier to create an audit trail, ensuring that your business remains compliant and maintains a clean record of all data processing activities. How does AI document processing address common workflow challenges?

AI 97

AI Process Payment APIs and Integration Compliance 97

Nanonets

SEPTEMBER 21, 2023

Moreover, including the purchase order number on the invoice provides a transparent audit trail, allowing for easier tracking and reconciliation of financial records. Invoices also serve as important documentation for legal and auditing purposes.

Disputes 52

Disputes Legal Procedures Facilitators 52

Nanonets

JUNE 13, 2024

Want automated data extraction capabilities once you upload your documents (meaning no data entry or creating templates) and transaction matching powered by ML algorithms (meaning AI matching) across documents you either upload, receive from an email or provide connection to the database ?

Reconciliation 52

Reconciliation Automation Accounts Close Processes 52