VISTA InfoSec

OCTOBER 21, 2024

Understanding the significance of cyber security is crucial for protecting sensitive data and ensuring business continuity. This article explores the most common cyber security threats targeting SMEs, practical measures to mitigate risks, and essential steps to take in the event of an attack.

Security 130

Security Phishing Ransomware Risk Assessment 130

Fintech Finance

SEPTEMBER 13, 2024

The new guideline, developed by the FPC’s Operational Considerations Work Group, sponsored by Endava , dives deep into the practical considerations FIs must address to successfully implement instant payments, from liquidity management to fraud mitigation, business continuity, and staffing requirements.

Instant Payments 130

Instant Payments Faster Payments FPC Real Time Payments 130

Segpay

MAY 1, 2024

This framework will have significant implications for global PSPs with clients in Europe, as it will require PSPs to strengthen their operational resilience capabilities, comply with regulatory requirements, and adapt their business practices to mitigate operational risks effectively.

Cybersecurity 52

Cybersecurity Compliance Procedures Risk Management 52

VISTA InfoSec

JUNE 3, 2024

A GDPR-compliant password policy should enforce unique passwords for each account to mitigate the risk of credential stuffing attacks. Incident Response and Business Continuity A GDPR-compliant password policy should be part of a broader cybersecurity strategy that includes incident response management and business continuity planning.

MFA 130

MFA Credential PCI DSS Compliance 130

PYMNTS

JUNE 25, 2020

With the global pandemic tossing many organizations into a digitization crash-course, business continuity has remained top of mind for the C-suite. It will continue to be a focus, too, as businesses gradually reopen and as employees begin to return to the office. Mitigating Risk. Asking the Right Questions.

Mitigation 60

Mitigation Risk Mitigation Treasury Risk 60

Center for Payments

SEPTEMBER 1, 2023

By educating individuals and organizations about the threats they may face, such as cyberattacks, fraud, and system disruptions, they can better understand the importance of being prepared and taking proactive measures to mitigate risks. Business Continuity Disruptions in payment systems can have severe consequences for businesses.

Payment Security 40

Payment Security Security Cybersecurity Identity Theft 40

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. PayFacs need to continuously track the financial health, chargebacks, transactions, and compliance activities of all their sub-merchants.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

VISTA InfoSec

OCTOBER 20, 2023

Service Continuity : Ensures essential healthcare services remain operational. Financial Stability : Mitigates the financial impact of disasters, including costs from data breaches or loss of revenue. Regulatory Compliance : Meets requirements like HIPAA that mandate disaster recovery plans. It’s not as complicated as it sounds!

Disaster Recovery 130

Disaster Recovery Regulatory Compliance Procedures Duplicate 130

Center for Payments

SEPTEMBER 15, 2022

The FFIEC Guidelines require financial institutions to implement a solid business continuity management program, which includes an effective Business Continuity Plan. Working in a remote environment for many businesses was a process felt to be a struggle.

FFIEC 40

FFIEC Risk Assessment Business Continuity Federal Reserve 40

PYMNTS

MARCH 3, 2017

Citi released a new report this week warning corporate treasurers to improve their FX risk mitigation efforts. Most of the companies surveyed have mature FX risk mitigation solutions deployed in their enterprises, the research found. The bank said Thursday (Mar. The bank said Thursday (Mar.

Risk Mitigation 40

Risk Mitigation Risk Mitigation Treasury 40

PYMNTS

APRIL 23, 2020

Business Continuity Is Key. Through our experience with previous black swan events and other crises, we know that a comprehensive business continuity plan should be developed and continuously evolved. This is imperative to mitigating impact.

Credit Union 63

Credit Union Credit Union Service Organization Business Continuity Fraud Detection 63

Neopay

JUNE 27, 2024

Risk management framework: Develop a robust risk management framework that identifies, assesses and mitigates key risks associated with your business operations. Provide a clear overview of your risk appetite and mitigation strategies to demonstrate a proactive approach to risk management.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

Nanonets

DECEMBER 13, 2023

#1: Increased Accuracy and Reduced Errors AI in insurance claims processing plays a pivotal role in enhancing accuracy and reducing errors by automating various tasks and mitigating the risks associated with manual processes. This includes addressing areas lacking expertise and implementing strategies to mitigate potential challenges. #6:

AI 102

AI Process Fraud Detection Compliance 102

The Payments Association

OCTOBER 11, 2024

By acting now, firms can mitigate operational disruption, enhance their governance, and ensure they are better equipped to protect consumers in an increasingly complex payment landscape. Firms should follow best practices, such as enhanced due diligence, to mitigate risks associated with third-party providers.”

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

Fintech News

FEBRUARY 15, 2024

This digital shift is not merely a matter of convenience but has emerged as a lifeline for many businesses, especially highlighted during the stringent conditions imposed by the COVID-19 pandemic. The fear of fraud is a significant barrier, with nearly four in ten SMEs prioritising data security to mitigate these risks.

Cross-Border 102

Cross-Border Cross-Border Payments Visa Payments 102

The Fintech Times

JUNE 13, 2024

Don Valentine , commercial director at Absoft , the business building solutions provider, advocates for a different approach – one that mitigates risk, accelerates migration, and ensures rapid access to high-quality transaction level data.

Due Diligence 58

Due Diligence Compromise Process Risk 58

Nanonets

APRIL 19, 2024

Implementing robust controls and monitoring mechanisms is essential to mitigate the risk of fraud or misappropriation. Despite these challenges, businesses can overcome them by implementing effective petty cash management practices and leveraging technology solutions to streamline the reconciliation process.

Best Practices 52

Best Practices Reconciliation Automation Procedures 52

Global Fintech & Digital Assets

MARCH 5, 2024

Banks are expected to apply the follow guidance in connection with their digital asset custodial services: Governance and risk management : Prior to launching digital asset custodial services, banks are expected to undertake a comprehensive risk assessment and to implement appropriate policies and procedures to mitigate identified risks.

Authorization 59

Authorization Product Due Diligence Procedures 59

EBizCharge

JUNE 4, 2024

Known for its adaptability, the platform allows businesses to tailor their functionalities to their specific industry needs and to scale up as they grow. Because it’s cloud-based, Acumatica provides real-time access to business data from any location, facilitating remote work and business continuity.

Credit Cards 52

Credit Cards Process Payment Gateways Best Practices 52

PYMNTS

APRIL 9, 2020

However, an organization can still prepare itself to mitigate the impact of the potential disaster by having dedicated teams and services in place to see it through the tough times. COVID-19 is not the first of these black swan events that we have seen in our lifetime – and unfortunately, it likely will not be the last.

Laws 63

Laws Mitigation Adjustments Technology 63

Open Banking Excellence

SEPTEMBER 21, 2023

Whilst DORA brings with it specific asks for financial institutions and their third-party suppliers, the concept of ensuring that business-critical operations are secure, resilient and can withstand disruption is not a new one. Assign ownership: Manage supplier failure, service deterioration and concentration risk at the most senior level.

FinTech 130

FinTech Compliance Regulations Non-Bank 130

Nanonets

SEPTEMBER 23, 2023

By effectively managing contracts, organizations can mitigate  risks , ensure  compliance , and optimize supplier relationships. This objective helps to maintain business continuity and uphold customer satisfaction. Risk management is also a key focus of contract management.

Gateways 52

Gateways RFP Value Added Service Compliance 52

M2P Fintech

OCTOBER 19, 2023

Risk & Compliance Management: Identifies and mitigates credit and operational risks, ensuring a secure and compliant banking environment. Cloud providers’ robust security and redundancy resources reduce interruptions, ensuring business continuity for banks with modernized core systems.

Online and Mobile Banking 52

Online and Mobile Banking ATM Point-of-Sale (POS) Compliance 52

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Within an array of changes brought on by the pandemic, Wingert said the sudden digital transformation has also highlighted shortcomings in digital identity and fraud management and revealed business process inefficiencies.

AML 108

AML Money Laundering Compliance Law Enforcement 108

PYMNTS

AUGUST 31, 2020

As companies adjust their business models and prioritize risk mitigation, the corporate treasury offers a valuable, forward-looking view into financial futures.

Treasury 74

Treasury Treasury Management Risk Mitigation Mitigation 74

PYMNTS

JULY 17, 2020

Although parents are largely still working from home, their need for childcare remains intact — and with many childcare centers still unable to fully open due to social distancing requirements, this industry has faced its own unique challenges to ensure business continuity without compromising quality of care.

Payroll 64

Payroll Direct Deposit Automation Contactless Payments 64

PYMNTS

MAY 25, 2020

In a black swan event such as the pandemic, ensuring business continues to flow not only means mitigating volatility of today. For many businesses along the global supply chain, it may also mean introducing changes that will affect how trade is done well into the future, too.

Adjustments 57

Adjustments B2B Product Mitigation 57

Fintech News

MAY 20, 2024

The COVID-19 pandemic led to restrictions on physical gatherings, prompting businesses to swiftly move their marketing activities to online platforms and bringing webinars into the spotlight. Webcasting and virtual event platforms like ON24 witnessed a remarkable surge, reporting a 167% increase in webinar hosting activities.

FinTech 133

FinTech Embedded Finance BNPL AI 133

PYMNTS

JANUARY 26, 2021

It really helps to build an organization’s culture of compliance by providing a continuous monitoring approach to expense,” he said, adding that this could come in the form of identifying a potential issue with an invoice payment before that transaction ever occurs, or pinpointing employee spending behavior trends from historical expense reports.

Audit 75

Audit Continuity Automation Risk 75

PYMNTS

APRIL 16, 2020

Businesses continue to make tough decisions to cope with volatility fueled by the coronavirus pandemic. Supply chain challenges that have forced businesses to cancel vendor orders or extend payment terms are sometimes unavoidable.

Finance 75

Finance Automation Lockbox Checks 75

Nanonets

SEPTEMBER 22, 2023

By implementing  vendor management solutions , organizations can optimize their procurement process, make informed decisions based on vendor performance data, improve communication and collaboration, and mitigate risks associated with manual processes.

Automation 52

Automation Compliance Risk Process 52

Seon

MAY 23, 2024

As a result, businesses may be disadvantaged and need help accessing the timely and accurate intelligence required to detect and mitigate fraudulent activities in real time. Safeguard Your Business, Protect Your Future Don’t let fraud drain your resources. Take proactive steps to ensure business continuity.

Fraud Prevention 52

Fraud Prevention Deepfake Fraud Detection Authentication 52

EBizCharge

MAY 14, 2024

This can mitigate and eliminate payment discrepancies and reconciliation issues, saving businesses time and resources. As businesses continue to adapt to evolving market demands, leveraging QuickBooks payment links alongside EBizCharge becomes increasingly indispensable for staying competitive in the digital landscape.

Payments 52

Payments Encryption Security Accounts 52

PYMNTS

MAY 10, 2017

Earlier this year the company warned companies to mitigate against FX volatility resulting from Brexit, urging firms — especially smaller ones — to strategize their global payments plays. Data from East & Partners recently found small businesses continue to lag in their adoption of FX mitigation tactics.

Cross-Border 40

Cross-Border Small Business Cross-Border Payments Global Payments 40

PYMNTS

MARCH 14, 2017

And as businesses continue to prioritize working capital optimization as a strategic initiative for growth, technologies like AI, said Daly, can offer more accurate ways to finance a small business. Advances in technology are propelling the trade credit insurance industry, Daly explained.

Risk 54

Risk Payment APIs and Integration AFP Payments 54

Global Fintech & Digital Assets

DECEMBER 11, 2023

Requirements related to business continuity and disaster recovery have also been included for the first time. Penalties for noncompliance may vary, and an extensive list of considerations and mitigating factors are provided.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59

PYMNTS

JANUARY 13, 2017

Though the companies have since worked to address the vulnerabilities and mitigate ongoing risk, Digital Shadows CTO and cofounder James Chappell told PYMNTS that the threat is just an indication of what’s to come in the world of cybercrime. Ransomware is not going away in 2017; it’s very much here to stay,” he added.

ATM 46

ATM Cybersecurity Ransomware Compromise 46