The Fintech Times

SEPTEMBER 14, 2024

2024 is proving another standout year for the regulatory space, finding itself under the spotlight, for better and worse reasons. Having already explored compliance challenges, penalties and solutions, we now turn our attention to the technology of the moment: AI.

Compliance 68

Compliance AI Process Suspicious Activity Report (SAR) 68

FICO

MARCH 31, 2016

As FICO’s premiere client conference, FICO World 2016 , heads to the nation’s capital at the end of next month, it is not surprising that regulatory compliance strategies and solutions will be a hot topic of discussion. Model management continues to present financial institutions with new compliance obstacles.

Regulatory Compliance 49

Regulatory Compliance Best Practices Compliance Financial Crimes 49

The Payments Association

OCTOBER 11, 2024

The reforms aim to address weaknesses in safeguarding practices, reduce consumer fund risks, and enhance regulatory compliance, particularly in preventing fund shortfalls. However, there are numerous issues due to poor compliance. What’s next?

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

PYMNTS

FEBRUARY 7, 2019

Tightening regulations have introduced loftier compliance burdens to global supply chains, made even more complex and challenging as companies do business with thousands of vendors across borders. The burden of regulatory compliance came to a head in the U.S. regulations, even if a vendor is not in the U.S.

Compliance 65

Compliance Due Diligence Audit Blockchain 65

Neopay

JUNE 3, 2024

Key considerations for a successful CiC Due Diligence : Prior to pursuing a CiC, thorough due diligence is essential. This involves: Financial services register : Checking the target firm’s regulatory status. Regulatory compliance : Assess the target firm’s regulatory history.

Due Diligence 52

Due Diligence Acquirers Regulatory Compliance Regulations 52

PYMNTS

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. ” Organizations must do more with less, and they must do it quickly, he continued.

Compliance 76

Compliance Due Diligence Risk Mitigation Risk 76

Neopay

DECEMBER 6, 2023

Skilled person reviews are an integral component of the FCA’s regulatory toolkit, initiated to obtain an independent and expert assessment of a firm’s activities. These reviews play a crucial role in identifying potential risks, ensuring regulatory compliance, and safeguarding the integrity of financial markets.

Audit 59

Audit Regulatory Compliance Financial Crimes Compliance 59

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.

AML 52

AML Financial Crimes Crime Risk Assessment 52

FICO

JULY 21, 2020

As my colleague TJ Horan says in his post , the worlds of fraud and compliance are moving closer together. The objectives of the fraud department are different from those of the compliance team and traditionally they have come at the thorny issue of accurately identifying and understanding their customers from different angles.

Compliance 52

Compliance Money Laundering Regulatory Compliance Due Diligence 52

Seon

SEPTEMBER 20, 2023

According to McKinsey, banks use up to 40% of their onboarding time on KYC and due diligence processes. By ensuring identity verification compliance, KYC onboarding increases an organization’s likelihood that it won’t waste its time dealing with illegitimate individuals.

Process 52

Process Due Diligence AML Verification 52

Seon

SEPTEMBER 23, 2024

Compliance with anti-money laundering (AML) regulations is now a legal obligation. This process is essential for maintaining compliance in an increasingly regulated financial landscape. Together, payment screening and transaction monitoring form a multi-layered approach to AML compliance and fraud prevention.

Suspicious Activity Report (SAR) 52

Suspicious Activity Report (SAR) Money Laundering Due Diligence AML 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. Thanks for taking time out to talk to us. REP-CRIM has been extended to a lot more firms.

AML 52

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

Neopay

JUNE 27, 2024

To ensure compliance, firms must thoroughly familiarise themselves with the regulations applicable to their business models. 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.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

FICO

MARCH 6, 2020

Visma Connect recently interviewed Jürgen Krieg, FICO's head of global compliance sales. In this excerpt from that article, Jürgen elaborates on the importance of compliance. . A partnership aimed at helping banks, payment providers and fintechs meet the ever stronger regulatory demands while reducing effort and expense. .

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

Segpay

OCTOBER 18, 2023

Let’s have a look at some of the risks that merchants face if transaction launderers are abusing their online business: Legal and Regulatory Consequences: Legal Liability : Merchants could be legally liable for facilitating illegal transactions through their accounts.

Transactions 52

Transactions Due Diligence Money Laundering Legal 52

Seon

JULY 10, 2024

It ensures smooth processing and compliance for legitimate payments, primarily verifying transaction details, validating customer credentials, screening against sanctions and watchlists, and ensuring compliance with regulations. For regulatory compliance, they meet AML requirements by monitoring transactions above certain thresholds.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

Neopay

APRIL 8, 2024

Extended Due Diligence : More time for conducting due diligence checks on suspected fraudulent transactions leads to a stronger evidence base for rejection.

Service Provider 52

Service Provider Due Diligence Fraud Prevention Payments 52

Fintech Finance

MAY 21, 2024

Middesk’s Business Verification solution ensures that financial institutions say ‘yes’ to more businesses while meeting strict compliance and regulatory requirements. They use Middesk to verify the legitimacy of businesses they work with, while adhering to strict regulatory compliance requirements.

UCC 52

UCC Payment APIs and Integration Due Diligence Verification 52

Finovate

APRIL 10, 2024

Banks need to ensure that their partners comply with data protection regulations and stay up-to-date on regulatory changes. To verify ongoing compliance, banks need to implement vendor management practices to oversee the compliance efforts of their BaaS providers and mitigate risks on both sides.

Due Diligence 52

Due Diligence Privacy FDIC Compliance 52

Seon

JUNE 29, 2023

KYT helps organizations reduce their chances of being subjected to fines for failures in AML compliance. KYT is a regulatory compliance requirement. As such, it is part of an organization’s due diligence. Ask an Expert What Does KYT Mean for AML Compliance? Why Is KYT Important?

Transactions 52

Transactions Due Diligence Money Laundering AML 52

PYMNTS

SEPTEMBER 29, 2020

Jumio said it plans to integrate Beam’s AML screening and transaction monitoring services into its KYX platform to help flag financial crime and streamline regulatory compliance. The Palo Alto-based firm on Tuesday (Sept. The announcement comes on the heels of Jumio’s Sept. That’s the real promise of this partnership.”.

Financial Crimes 61

Financial Crimes AML Crime Money Laundering 61

Nanonets

APRIL 29, 2024

You know that untangling this web of numbers is not just about ensuring compliance; it's about safeguarding the financial health and reputation of your organization.   Security and Compliance : Prioritize software solutions that adhere to industry-standard security protocols and compliance requirements.

Reconciliation 52

Reconciliation Payment APIs and Integration Regulatory Compliance Audit 52

The Payments Association

SEPTEMBER 30, 2024

Merchants need to continue adapting to new payment methods, collaborate with industry peers, and stay agile in balancing innovation and regulatory compliance. Simultaneously, the complexity of navigating scheme fees, regulatory compliance, and fraud prevention remains a significant challenge. What’s next?

Fraud Prevention 88

Fraud Prevention Instant Payments Alternative Payment Methods Participant 88

The Fintech Times

SEPTEMBER 19, 2024

2024 is proving another standout year for the regulatory space, finding itself under the spotlight, for better and worse reasons. Risk orchestration provides a strategic approach that enables seamless compliance and fraud management for financial institutions. Automation supports compliance Sarah A.

Risk 58

Risk Financial Crimes AML Risk Management 58

Nanonets

DECEMBER 13, 2023

2: Proactive Regulatory Compliance AI plays a crucial role in ensuring regulatory compliance in insurance claims processing through the following: Automated Compliance Checks: AI algorithms can be programmed to conduct automated checks against regulatory requirements.

AI 102

AI Process Fraud Detection Compliance 102

FICO

FEBRUARY 14, 2017

I’m going to explore the impact advanced analytics can have on the current state of regulatory compliance. Based on the categorization, the right level of due diligence is being applied, with riskier customers getting more due diligence. That’s what a compliance officer is looking for.

AML 40

AML Compliance AI Money Laundering 40

The Paypers

FEBRUARY 11, 2018

(The Paypers) Shyft has rolled out an open and unified blockchain framework for the standardization of regulatory, compliance, and due diligence mandates for KYC and AML.

AML 28

AML Due Diligence Blockchain Regulatory Compliance 28

EBizCharge

JULY 3, 2024

Ensuring Compliance with Industry Regulations Navigating the complex web of industry regulations can be daunting. Regulatory Compliance Maintaining regulatory compliance is critical, given the ever-evolving nature of industry-specific legislation and standards.

Regulatory Compliance 52

Regulatory Compliance Due Diligence Process Compliance 52

Fintech News

FEBRUARY 21, 2024

MAS’ consultative approach in liaising with the financial sector and refining the Bill, coupled with its commitment to balancing regulatory efficacy with industry viability, sets a benchmark for regulatory compliance unlike the rest of the region.

Financial Crimes 104

Financial Crimes Crime Authorization Consulting 104

FICO

FEBRUARY 11, 2019

APC Intelidat, the credit bureau in Panama, will soon provide regulatory compliance capabilities to its customers and fight financial crime in Panama with a FICO solution. This is the beginning of our relationship with FICO, which is known worldwide for its risk management and financial crime compliance solutions.

Financial Crimes 40

Financial Crimes Crime Due Diligence Money Laundering 40

The Fintech Times

FEBRUARY 8, 2024

To deliver financial solutions that empower Latin America, we must address the region’s fragmentation with due diligence and recognise not only divergent demands from each country, but also the diverse needs of the banks and their respective stakeholders.

Product 68

Product Payment APIs and Integration Due Diligence Small Business 68

FICO

SEPTEMBER 16, 2020

FICO’s Integrated AML Compliance Survey has revealed that while the vast majority of banks in more than 11 countries around the Asia Pacific region believe that AI will strengthen anti-money laundering efforts, many remain unsure how to operationalize the advanced technology. Investment in compliance technology.

Money Laundering 52

Money Laundering Financial Crimes AI APACS 52

Nanonets

APRIL 30, 2024

Legal - Automating the extraction of data from legal documents, contracts, and case files to streamline case preparation and review: Contract Management: Extracting key clauses, terms, and obligations from legal contracts, agreements, and court documents to automate contract review, analysis, and compliance monitoring.

AI 52

AI Due Diligence Automation Use Case 52

FloQast

MARCH 12, 2024

These partners will guide you through the regulatory landscape, financial structuring, and effective communication with potential investors. However, larger capital requirements don’t necessarily mean a private company is ready to become a public company.

Advisors 52

Advisors Due Diligence Audit Legal 52

PYMNTS

FEBRUARY 13, 2019

The move targets one of the largest pain points of Know Your Customer (KYC) compliance for businesses and their financial institutions (FIs): the complexity linked to corporations that use multiple banks across multiple jurisdictions. Payments messaging firm SWIFT announced on Tuesday (Feb. It’s serious legal liability for the driver.”

Money Laundering 64

Money Laundering AML Economy SWIFT 64

Fintech News

JANUARY 16, 2024

Generative AI offers many applications in banking, from enhancing due diligence and risk management to streamlining legal contract generation and code writing. In 2024, we expect increased collaboration between banks, central banks, and regulators to develop more effective regulatory approaches.

AI 108

AI Risk Non-Bank On-Demand 108

EBizCharge

JULY 29, 2024

Factors such as company size, industry, budget, compliance requirements, and specific business processes can influence the type of ERP option a business may choose. They also suit businesses with varying compliance or data sovereignty requirements.

Product 52

Product Payments Electronic Funds Transfer (EFT) Compliance 52