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

FEBRUARY 28, 2024

Specific Requirement - New: Rules for limited shared account use (duration, documentation, approval, auditability). Changes Core Focus Limiting database access to programmatic methods (apps, stored procedures) and database administrators. Significant shift in approach. New framework for unavoidable exceptions.

PCI DSS 130

PCI DSS Best Practices Authentication Rules 130

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

Nanonets

SEPTEMBER 18, 2024

They are responsible for vendor payments, maintaining transaction records, auditing, taxation, and regulatory compliance. Automating document processing allows these firms to quickly extract financial data from various sources, perform audits with fewer manual steps, and generate reports automatically.

Automation 52

Automation Audit Payment APIs and Integration Compliance 52

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

Nanonets

OCTOBER 30, 2024

Docsumo comparison Criteria Maximum Score Nanonets Docsumo Instant learning with AI 5 ✓ ✗ Support different types of document natively 5 ✓ ✓ Per document cost cheaper than human 5 ✓ ✓ Unstructured Documents 5 ✓ ✓ Text heavy documents 5 ✓ ✗ Doesn't require manual intervention (..)

Bots 52

Bots Automation Database AI 52

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

PYMNTS

NOVEMBER 29, 2019

Maryland, said Peterson, has constructed a database that lists all the items that are taxable in the state. Conversely, Nebraska has a database that lists items that are exempt from taxes. There may or may not be near-term proactivity by states to embrace such databases and educational efforts, said Peterson.

Database 53

Database Audit Compliance Disputes 53

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

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

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

Nanonets

SEPTEMBER 27, 2024

Uploaded IDs undergo an authenticity check and data extraction, which is cross-verified against an external database for verification. This can cause issues with audit and credibility certifications. ✅ One-click Authentication against external databases: 1. or databases, like, Amazon S3.

Process 52

Process Underwriting Automation Database 52

PYMNTS

MARCH 6, 2019

Distributed ledger technology (DLT), in essence, is a distributed database that securely stores and organizes data. Across treasury and supply chain efforts, Rodrigues noted, blockchain can help improve risk management through three major points: data redundancy, auditability and smart-contract permissions.

Treasury Management 75

Treasury Management Treasury Blockchain Distributed Ledger Technology (DLT) 75

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

Segpay

OCTOBER 22, 2024

Blockchain technology offers a solution to these concerns, enabling age verification without collecting or storing sensitive data in a centralized database. High-profile data breaches have made the risks of storing user IDs clear, with victims suffering from identity theft and financial loss.

Verification 83

Verification Blockchain Privacy Encryption 83

Nanonets

JUNE 26, 2024

Audit Compliance protocols: Properly reconciled bank statements are required for accurate tax reporting and can help avoid penalties or issues during audits. Once confirmed, there needs to be an entry in the accounting system which needs to be reconciled against the purchase receipt. This improves compliance and visibility.

Reconciliation 52

Reconciliation Adjustments Audit Checks 52

Nanonets

SEPTEMBER 12, 2023

Enhanced compliance and audit readiness 💭 "We would spend 2-3 hours on the actual payment and maintenance."~ Happy Jewelers was dealing with a significant amount of time spent on ensuring compliance and audit readiness. "~ The AP Team at Happy Jewelers. Set up rules for each stage of review.

Automation 52

Automation Process Audit Compliance 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

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

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

Nanonets

NOVEMBER 14, 2023

This involves scanning or document imaging, wherein essential data is collected, categorized, processed, and placed into databases. Data Extraction : Metadata within the document is identified and extracted automatically, contributing to a more detailed and organized database. invoices, orders, receipts).

Automation 52

Automation Facilitators Compliance Audit 52

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

Nanonets

MAY 31, 2023

Improved Audit Process – with a manual account payable workflow process, audits can take weeks or months, with the accounting team going through endless paperwork. With an automated AP system, all the data required for the audit process is organized and stored in one place, making audits simpler and saving time.

Automation 52

Automation Accounts Audit Process 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

Nanonets

SEPTEMBER 25, 2024

  Bank statement processing is essential for accurate reconciliation , auditing, and financial reporting. Maintain an efficient audit trail for future retrieval. Monitor and review Regularly auditing data quality is vital for maintaining accuracy and compliance. 

AI 52

AI Process Best Practices Reconciliation 52

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

Basis Theory

NOVEMBER 12, 2024

Completing audits and other non-value-generating work consumes resources, timelines, and funds. This means organizations introducing AES-256 will need to ensure their systems, applications, and databases account for ciphertext lengths that may exceed, for example, the original 16-digit card number.

Encryption 88

Encryption Payment APIs and Integration PCI DSS Returns 88

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

Exact Payments

JULY 1, 2024

The encrypted data is then written to our database. All such accesses are meticulously logged to maintain a clear audit trail of data interactions. Instead, each sensitive PII item is encrypted with a newly generated key, and the key is stored in a hardware security module (HSM).

Data Security 52

Data Security Security Encryption Payment APIs and Integration 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

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

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

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