Fintech News

APRIL 7, 2024

Ripple, a provider of enterprise blockchain and crypto solutions, plans to introduce a stablecoin tied directly to the US dollar (USD), pending regulatory approvals. This regulatory compliance extends to the new stablecoin, ensuring it meets global standards. added Monica Long, Ripple’s President.

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Stablecoins Use Case Blockchain Regulatory Compliance 110

The Fintech Times

AUGUST 9, 2024

Capitalising on strong UAE position Panellists also focused on the absence of a standardised accounting framework for digital assets, which can lead to inconsistencies in reporting, impacting investor confidence and potentially complicating regulatory compliance.

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CBDC Digital Currency Central Bank Regulatory Compliance 64

Neopay

AUGUST 5, 2024

Detailed records of all safeguarding training should be maintained for audit purposes. It helps firms comply with regulatory requirements, thereby avoiding penalties and reputational damage. It helps firms comply with regulatory requirements, thereby avoiding penalties and reputational damage.

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Compliance Procedures Audit Risk Management 52

Fintech Finance

MARCH 12, 2024

By leveraging standards-based data encryption, tokenization, and masking, the comforte Data Security Platform provides granular audit and control for regulatory compliance without affecting service levels or compromising efficiency. “We Compliance appeared first on Fintech Finance. PCI DSS v4.0

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PCI DSS Compliance Encryption Real Time Payments 52

FloQast

JANUARY 22, 2024

You can and should: Maximize performance Minimize workload Accounting and finance functions are crucial to your organizational performance and increasing enterprise value is possible by leveraging things like workflow automation, reporting, and audit readiness.

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Automation Technology Audit Compliance 52

Neopay

JULY 4, 2024

Nigel Reed, COO of Neopay Ltd, has personally supported over 100 firms in gaining authorisation from the FCA and continues to provide support to them after authorisation to help them with their AML and regulatory compliance. Audits, advice and reviews from third-party specialists such as Neopay are essential now really.

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AML Due Diligence Suspicious Activity Report (SAR) Risk Assessment 52

Fintech Finance

FEBRUARY 27, 2024

The FCA’s EMI licence, which builds on the company’s previous accreditation as an authorised payment institution in Europe, is a testament to Enfuce’s dedication to the highest standards of regulatory compliance. The post Enfuce receives EMI licence to boost UK expansion appeared first on Fintech Finance.

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Regulatory Compliance Compliance Accreditation Issuers 52

Neopay

JUNE 27, 2024

Your senior team will all need to have understand the obligations on the firm and be able to prioritise regulatory compliance and its impact across the business. Additionally, firms should stay updated on regulatory changes and developments in the payments industry. The post FCA Authorisations: How are things changing?

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Financial Crimes Money Laundering Compliance Crime 52

Fi911

NOVEMBER 7, 2023

These may align with industry best practices or other regulatory frameworks. It’s paramount for such institutions to liaise with legal experts to ensure total regulatory compliance. The post Understanding AML Compliance in the Banking Sector appeared first on fi911blog.

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AML Compliance Money Laundering OFAC 52

Neopay

FEBRUARY 29, 2024

As we approach the full implementation deadline, continued collaboration between regulatory authorities, firms, and industry stakeholders will be instrumental in fostering a robust and consumer-centric financial ecosystem. At Neopay, we recognise the importance of regulatory compliance and consumer protection.

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Consumer Protection Consumer Compliance Assessments 59

The Fintech Times

APRIL 5, 2024

These reserve assets will be audited by a third-party accounting firm, and Ripple will publish monthly attestations. Ripple is committed to regulatory compliance and has a growing license portfolio in key regions around the globe. The stablecoin market is about $150billion, and is forecasted to exceed $2.8 trillion by 2028.

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Stablecoins Use Case Blockchain On-Demand 64

Neopay

FEBRUARY 27, 2024

One of the biggest challenges facing fintech companies today is the increased costs and complexity of compliance. With regulatory bodies imposing stricter standards and more frequent audits, firms are finding it increasingly difficult to keep up.

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FinTech Compliance Audit Risk Management 59

Fintech Finance

JANUARY 30, 2024

Failure to comply means companies can incur heavy fines and suffer significant reputational damage; data from HM Treasury 7 shows that the total value of fines levied by the various UK supervisory bodies for non-compliance jumped from £109m in 2020-21 to £504m in 2021-22.

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Payee Money Laundering Non-Bank Checks 52

FloQast

MAY 13, 2024

From automated bookkeeping and bank reconciliations to AI-driven tax preparation and audit processes, these new technologies enhance efficiency and accuracy and give accountants more time to focus on higher-level, more strategic work. This technology offers an immutable ledger, reducing fraud risks and ensuring a clear audit trail.

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Accounts Technology Cybersecurity Audit 52

Neopay

JULY 2, 2024

How Neopay can help At Neopay, we recognise the importance of regulatory compliance and consumer protection. We offer services such as compliance audits, workshops, and training, helping firms adapt to the evolving regulatory landscape with confidence. Registration is required to attend.

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Consumer Compliance Regulatory Compliance Assessments 52

Neopay

MARCH 7, 2024

Due diligence and monitoring: Policies lack specificity, leading to ambiguity in the actions required for compliance with MLRs, particularly concerning due diligence, ongoing monitoring, and the establishment of effective procedures. The post FCA issues warning to firms over AML failings appeared first on Neopay.

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AML Financial Crimes Crime Risk Assessment 52

Fintech News

APRIL 28, 2024

Remaining compliant Finally, the seventh and last trend highlights the use of technology and automation to enhance regulatory compliance, risk management, and internal audit processes. Compliance functions face ever-changing and more demanding regulator and customer expectations.

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AI Innovation Financial Crimes Crime 104

Segpay

DECEMBER 7, 2023

In that case, you need to be aware of the implications of the DSA and how to ensure compliance with its requirements. In this post, we will explain what is digital law , what it means for your business, and how Segpay can help you manage your online payments securely and efficiently. What is the EU Digital Services Act?

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Compliance Privacy Regulatory Compliance Data Security 52

The Fintech Times

SEPTEMBER 4, 2024

Daniel Bedford, research analyst at Juniper Research “The floor is constantly being raised, and leaving businesses to balance regulatory obligations and financial efficiency. ” The post What are the Biggest Challenges Facing Compliance Teams? appeared first on The Fintech Times.

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Compliance Rules Regulations Cybersecurity 64

FloQast

APRIL 12, 2024

Remember, the goal of the S-1 filing is not just regulatory compliance but to lay a foundation of transparency and trust with your future investors. The post Mastering S-1 Filing Requirements in Your Pre-IPO Journey appeared first on FloQast. Information with respect to the registrant.

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Underwriting Indemnification Due Diligence Regulatory Compliance 52

Nanonets

NOVEMBER 15, 2023

Capture information and digitize documents You might receive purchase orders, receipts, and invoices from various channels — email, Dropbox, Google Drive, post, or even fax. Automate reporting and audit trails With paper-based systems, these tasks often require more time and effort.

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Accounts Payment APIs and Integration Audit Automation 52

FICO

MARCH 24, 2021

These include: Post-pandemic shift to a new world order with associated changes to the relative importance of different currencies. Designation of qualified compliance officer along with a compliance oversight committee (or governance committee). Conducting internal monitoring and auditing. by Claudia Huesmann.

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Money Laundering SARS Financial Crimes Fincen 98

Nanonets

JUNE 27, 2023

Working with digital documents is no longer optional, particularly in the post-pandemic world. Regulatory compliance and auditing Compliance with industry regulations and retention policies is critical for businesses. It is regarded as the most crucial phase on the route to digital transformation.

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Product Disaster Recovery Automation Compliance 52

Neopay

FEBRUARY 12, 2024

It’s not just personnel though, software and IT needs and costs have also increased sharply, alongside other costs such as training and the need for more testing and audits. On top of this, the impact of FCA compliance in other back-office functions is becoming more onerous through things like Consumer Duty and resilience planning.

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FinTech Compliance Reconciliation Risk Management 52

EBizCharge

JULY 12, 2024

Enforcing explicit procedures for approval and reimbursement creates a standard for audits. Clear documentation rules support transparency and ease auditing, reinforcing the company’s commitment to financial accountability. The post Top Expense Policy Strategies for Modern Businesses appeared first on EBizCharge.

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Compliance Best Practices Procedures Process 52

FloQast

JANUARY 2, 2024

Because it’s considered the gold standard for risk management, private companies can also benefit from using the COSO ERM framework to establish internal financial controls, including setting up internal audit departments. The post What You Need To Know About the COSO ERM Framework appeared first on FloQast.

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Risk Management ISOs Risk Mitigation 52

EBizCharge

AUGUST 28, 2024

Compliance and regulatory importance: ABA numbers are integral to regulatory compliance within the banking industry. In addition to the Federal Reserve using ABA numbers to process Fedwire funds transfers, they’re required for banks to reconcile accounts and ensure compliance with relevant financial regulations.

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Wire Transfer Direct Deposit Wire Wires 52

EBizCharge

AUGUST 28, 2024

Compliance and regulatory importance: ABA numbers are integral to regulatory compliance within the banking industry. In addition to the Federal Reserve using ABA numbers to process Fedwire funds transfers, they’re required for banks to reconcile accounts and ensure compliance with relevant financial regulations.

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Wire Transfer Direct Deposit Wire Wires 52

The Fintech Times

JANUARY 5, 2024

. “In order to fine-tune a model to generate the insights that will best answer customer inquiries, minimise investment risk, or process documents for loan applications, underwriting, regulatory compliance and more, firms will need to train them on their proprietary, industry-specific data. appeared first on The Fintech Times.

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AI Database Financial Crimes Compliance 75

Nanonets

AUGUST 31, 2023

Compliance and accuracy Automation reduces the risk of human error and ensures improved accuracy in tasks like data entry and call routing. It also helps maintain regulatory compliance by automating necessary checks and balances, thus protecting your business from potential legal issues.

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Automation CRM Compliance Process 52

FICO

JUNE 5, 2017

Facilitating engineering, deployment, management and regulatory compliance: While text and the process of analyzing it can be quite complex, the results need to be simple to understand and use. The post The Future of Analytics: The Revolution Will Be Unstructured appeared first on FICO.

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XML Origination Regulatory Compliance CRM 108

Nanonets

MAY 11, 2023

o   Are there performance issues post receipt that warrant withholding payment? 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.

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Process Automation Audit Checks 52

FICO

JUNE 16, 2016

Mandated audit capabilities are driving collectors to communicate more skillfully in a consultative manner in a variety of channels. They found themselves with stagnant recovery rates and languishing consumer accounts while regulatory disputes within the industry were skyrocketing. The times, they are a-changing.

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Disputes Regulatory Compliance Issuers Returns 45

EBizCharge

MAY 14, 2024

These benefits include time efficiency, improved accuracy, enhanced customer service, scalability, cost savings, regulatory compliance, insights and analytics, and integration with other systems. The post How Do You Set Up Automated Billing? Set up a self-service customer payment portal. appeared first on EBizCharge.

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Automation Payment APIs and Integration Best Practices Online and Mobile Banking 52

FloQast

MAY 9, 2024

These enhancements usher in greater automation and visibility, empowering proactive risk assessment, more effective management of compliance programs, and smoother internal audit processes. Audit Pain and Expense: Challenge : Inadequate preparation for audits results in prolonged processes.

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Compliance Audit Risk Assessment Assessments 93

Nanonets

SEPTEMBER 27, 2024

In this blog post, we'll explore what STP means in the context of the Insurance industry, the pain points within the industry and the benefits of STP. These pain points span across various aspects of insurance operations, from customer experience and fraud prevention to operational efficiency and regulatory compliance.

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Process Underwriting Automation Database 52

Fintech Labs Insights

OCTOBER 4, 2016

Wisdom goes beyond access control to address regulatory compliance, multi-party risk, long-running and multi-legged transactions, and contextual obligations. Wisdom manages accountability for risky actions and assures auditability of all grants of authority. Check out more of today’s FinDEVr previews: IBM.

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Regulatory Compliance Authorization Audit Compliance 17