The Paypers

OCTOBER 2, 2024

FinCause has announced its partnership with iDenfy in order to integrate AI-powered ID verification, ensuring regulatory compliance and security against financial crime.

Regulatory Compliance 41

Regulatory Compliance Financial Crimes Crime Verification 41

Finovate

JULY 30, 2024

Texas-based Vantage Bank announced this week it has tapped financial risk control platform Cable to facilitate the bank’s compliance and risk management program. This partnership comes as Vantage Bank seeks to grow its fintech program and partnerships in today’s tightened regulatory environment. ” U.K.

Compliance 52

Compliance Risk Management Regulatory Compliance Financial Crimes 52

Fintech Review

OCTOBER 1, 2024

A new focus on digital identity verification As the financial landscape continues to evolve, the importance of Anti-Money Laundering ( AML ) and Know Your Customer (KYC) processes has never been more pronounced. These protocols are integral to combating financial crime and ensure regulatory compliance.

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AML Verification Research Consumer 98

Finextra

MAY 21, 2024

Financial crime consultancy Plenitude has acquired Contineo Financial Risk Solutions, a provider of technical advisory services for regulatory compliance operations.

Acquirers 59

Acquirers Risk Regulatory Compliance Financial Crimes 59

The Fintech Times

SEPTEMBER 25, 2024

In addition, technological disruption and cybersecurity were highlighted as key challenges for respondents’ companies, by 26 per cent and 38 per cent of firms respectively.

Consulting 64

Consulting Risk Regulatory Compliance Financial Crimes 64

FICO

JUNE 12, 2020

Stopping financial crime in Australia is an age-old problem, but today’s criminals have become so sophisticated that long-standing anti-money laundering (AML) systems and processes are no longer keeping up. Like other advanced financial sectors, Australia has a complex and evolving regulatory environment. and the U.K.

Financial Crimes 52

Financial Crimes Crime AML Money Laundering 52

FICO

DECEMBER 23, 2020

In the wake of such radical changes, as we look to the year ahead, the challenge for global banks and financial institutions at large has never been greater. Here is how we predict banks will endeavor to enhance their financial crimes controls in 2021: 1. Machine Learning Will Play a Great Role in Fighting Money Laundering.

Financial Crimes 52

Financial Crimes Ransomware Crime AI 52

Fintech News

JUNE 11, 2024

According to Hawk, the new funding will support its accelerated international expansion plans, driven by the growing demand for its AI-powered anti-financial crime technology. Its explainable AI approach allows financial institutions to reduce false positive rates and detect previously unseen and novel financial crimes.

Financial Crimes 106

Financial Crimes Crime Regulatory Compliance Fraud Prevention 106

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. Financial crime poses one of the most significant threats to financial institutions.

Regulatory Compliance 49

Regulatory Compliance Best Practices Compliance Financial Crimes 49

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 announcement comes on the heels of Jumio’s Sept. As part of the deal, Beam employees in the U.S.

Financial Crimes 61

Financial Crimes AML Crime Money Laundering 61

Fintech News

FEBRUARY 14, 2024

Lee brings extensive experience in regulatory technology and anti-financial crime, with previous positions at Thomson Reuters, LSEG, Refinitiv and Napier Technologies, where he spearheaded the APAC division. They’re an exceptional group of people, combining world-class technologists and seasoned financial crime-fighters.

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APACS AI Financial Crimes Money Laundering 109

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

FICO

JULY 23, 2020

Europe and the USA are the two regions of the world hardest hit by financial crime compliance costs. With the projected total cost of financial crime compliance across the global finance sector estimated to be $180.9

Financial Crimes 52

Financial Crimes Crime Money Laundering Compliance 52

Neopay

JUNE 27, 2024

Many in financial services have been concerned that some elements of the FCA’s more stringent approach may not always be justified by reductions in financial crime and money laundering or consumer protection. Additionally, firms should stay updated on regulatory changes and developments in the payments industry.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

Neopay

MARCH 7, 2024

Furthermore, financial crime controls have failed to keep pace with the rapid growth of these businesses. Governance and training: Lack of resources dedicated to financial crime, insufficient training on financial crime matters, and an absence of clear audit trails for financial crime-related decision-making have been noted.

AML 52

AML Financial Crimes Crime Risk Assessment 52

The Fintech Times

OCTOBER 18, 2024

Law and regulation risks : The risk of financial, reputational, or litigation damage resulting from a failure to monitor, control, and reduce regulatory compliance risks. Financial crime risks : Risks associated with the failure to prevent financial crimes such as money laundering and market abuse.

Risk 87

Risk FinTech Risk Management Cybersecurity 87

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

FICO

FEBRUARY 14, 2017

It’s not often that we enter a greenfield market that is just on the cusp of significant growth, but earlier this month FICO announced its entry in the Nepalese financial market. Therefore, non-compliance could lead to the loss of these banking relationships and access to important capital markets.

Financial Crimes 61

Financial Crimes Crime Compliance Correspondent Bank 61

The Fintech Times

APRIL 8, 2024

While BaaS solutions offer a lot of potential, many have concerns regarding the regulatory compliance of providers and the third parties that use them. To find out more about the regulatory hurdles the BaaS space possesses, we reached out to industry leaders and asked them which regulatory challenges fintechs should be most aware of.

FinTech 116

FinTech Regulatory Compliance BSA Money Laundering 116

FICO

APRIL 18, 2018

FICO today unveiled several solution upgrades that will help banks, lenders, fintechs and other institutions fight fraud and financial crime. These solutions bring unparalleled efficiency and machine learning capabilities to fraud, risk and compliance professionals.

Financial Crimes 53

Financial Crimes Crime Money Laundering AML 53

FICO

MAY 28, 2020

It feels like we have been discussing the convergence of fraud and financial crime for at least a decade. I’ve certainly shared my views and predictions, including one of my recent blog posts Fraud and Financial Crime Product Strategy: C is for Convergence , but just in time for summer, the strategy is finally making a splash.

Financial Crimes 52

Financial Crimes Crime Money Laundering AML 52

FICO

MAY 20, 2021

In my Financial Crimes Predictions 2021: More AI & Ransomware post , I talked about how banks will move to operationalize their Anti-Money Laundering (AML) compliance programs to achieve greater efficiencies and how robotic process automation (RPA) adoption will drive the paradigm shift. Source: FICO customer case study.

Financial Crimes 52

Financial Crimes AML Crime Automation 52

FICO

SEPTEMBER 16, 2019

In recent years there has been much talk of the fraud and financial crime departments at banks working together more closely. There is less concern about direct losses to fraud and financial crime or the impact that tackling fraud and financial crime has on the wider business.

Financial Crimes 40

Financial Crimes Crime AML Compliance 40

The Fintech Times

OCTOBER 5, 2024

The booming popularity of neobanks following the pandemic saw people, both good and bad, flock to them, however, one notable name has failed to tackle financial crime and as a result is now facing a hefty fine from the Financial Conduct Authority (FCA). “Effective compliance isn’t just about ticking boxes.

Financial Crimes 52

Financial Crimes Crime Compliance Money Laundering 52

Fintech News

APRIL 16, 2024

Generative artificial intelligence (AI), also known as gen AI, is expected to significantly impact risk management over the next five years, allowing financial institutions to automate tasks, accelerate processes and improve efficiencies.

Risk Management 111

Risk Management AI Risk Use Case 111

Fintech News

APRIL 28, 2024

Deloitte estimates that approximately 30% of the revenues in the financial services industry will be generated through cross-industry ecosystems by 2025. Banks are facing growing challenges in protecting customer data, preventing unauthorized transactions, and ensuring compliance with regulatory requirements, the report says.

AI 109

AI Innovation Financial Crimes Crime 109

FICO

FEBRUARY 15, 2021

Our roadmap for regulatory compliance with the FICO Siron solution meets existing regulatory requirements and will enable us to rapidly adapt to new regulations,” said Marina Skalistiri, head of compliance risk assessment planning and reporting at Eurobank Greece. This is a first-class result of our project.”combined

Money Laundering 52

Money Laundering Regulatory Compliance Correspondent Bank AML 52

Fintech Finance

AUGUST 2, 2024

ComplyTek introduces an advanced transaction screening solution for instant payments , designed to ensure compliance and mitigate fraud within the critical 10-second processing window. Flexible Integration : Robust APIs for seamless integration with various payment systems and compliance tools. Faisal I. ,

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

PYMNTS

MAY 19, 2020

Robert Werner brings regulatory, financial crime compliance and enforcement experience from his work in the public and private sectors, Libra said. He also headed financial crime compliance for Merrill Lynch. Previously, Werner worked at the U.S.

Treasury 90

Treasury Financial Crimes Crime Fincen 90

PYMNTS

FEBRUARY 12, 2020

Fenergo , a Dublin-based FinTech startup that helps other banking organizations deal with regulatory compliance, onboarding and “lifecycle management,” has raised $80 million and has a valuation of $800 million, according to a report. This round is reportedly one of the larger ones completed for an Irish FinTech.

Compliance 60

Compliance Regulatory Compliance Financial Crimes Crime 60

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

PYMNTS

FEBRUARY 22, 2019

Office of the Comptroller of the Currency (OCC), over deficiencies that the OCC identified in the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program. The office recently examined the branches for BSA/AML and Office of Foreign Assets Control (OFAC) sanctions compliance. On Wednesday (Feb.

OCC 43

OCC AML Office of the Comptroller of the Currency Compliance 43

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

PYMNTS

OCTOBER 16, 2019

The Cost of Compliance. Scandal and fraud tarnishing banks’ reputations aside, the impact that AML compliance controls have had on these banks’ bottom lines can’t be underestimated. Meg Birch, vice president of AML solutions at Feedzai, spoke about how a financial institution’s AML program can be a growth strategy. “It

AML 49

AML Compliance Money Laundering Financial Crimes 49

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. Key drivers of financial crime strategy.

Money Laundering 52

Money Laundering Financial Crimes AI APACS 52

The Fintech Times

DECEMBER 28, 2023

Today our leaders address escalating challenges related to fraud and the need for businesses to take proactive measures to address these issues and maintain customer trust and regulatory compliance. In this pursuit, businesses like SEON can help companies to bolster their defences against sophisticated fraud schemes.

Fraud Prevention 81

Fraud Prevention Scams Fraud Detection Regulatory Compliance 81

FICO

MARCH 24, 2021

Maintain a strong Tone at the Top (“Culture of Compliance”). Plan for upticks in particular areas of AML compliance activity. Designation of qualified compliance officer along with a compliance oversight committee (or governance committee). Set clear and realistic priorities. by Claudia Huesmann.

Money Laundering 98

Money Laundering SARS Financial Crimes Fincen 98