PYMNTS

SEPTEMBER 24, 2020

Reducing fees for remittances might push price points low enough that more consumers could resume sending money home, though, and some researchers believe that money transfer service providers could make such price adjustments if they are able to reduce their own expenses through more robust and cost-effective regulatory compliance measures. .

Regulatory Compliance 89

Regulatory Compliance Compliance Correspondent Bank Correspondent 89

Bank Automation

OCTOBER 17, 2024

TD Bank is bolstering its anti-money-laundering practices with leadership changes and investment in data and technology following regulatory scrutiny resulting in major fines The Financial Crimes Enforcement Network fined the Toronto-based bank $1.3 billion and the U.S. Department of Justice levied $1.8 billion in fines on Oct.

AML 64

AML Compliance Money Laundering Financial Crimes 64

FICO

AUGUST 12, 2021

Financial Institutions’ compliance officers and teams should be concerned that Open Banking may render their existing AML/CTF and KYC compliance programs inadequate. AML compliance has not traditionally focused on monitoring this type of network. Customer data screen-scraping widespread.

Financial Crimes 52

Financial Crimes Compliance Crime Risk 52

Innovative Payments Association

AUGUST 29, 2024

However, one major challenge that cannabis businesses face is banking compliance. To navigate the complex world of cannabis banking compliance, businesses must develop a strong compliance program. This includes assessing the risk of money laundering, financial crime, and regulatory violations.

Cannabis Banking 52

Cannabis Banking Boot Camp Compliance Money Laundering 52

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

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

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 Money Laundering AML 52

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

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.

AML 98

AML Verification Research Consumer 98

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

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 Crime Ransomware AI 52

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

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 95

Financial Crimes Crime Regulatory Compliance Fraud Prevention 95

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.

APACS 98

APACS AI Financial Crimes Money Laundering 98

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

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

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

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 83

Financial Crimes Crime Compliance Money Laundering 83

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

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

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 108

Risk FinTech Risk Management Cybersecurity 108

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

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 94

Risk Management AI Risk Use Case 94

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 97

AI Innovation Financial Crimes Crime 97

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 59

Risk Financial Crimes AML Risk Management 59

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

Seon

SEPTEMBER 23, 2024

With the rise of online transactions and real-time payments, the risk of fraudulent activity has surged, putting financial institutions and businesses in a constant battle to protect their customers and themselves. Compliance with anti-money laundering (AML) regulations is now a legal obligation.

Suspicious Activity Report (SAR) 52

Suspicious Activity Report (SAR) Money Laundering Due Diligence 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 72

Instant Payments Transactions Payment APIs and Integration Compliance 72

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

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

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

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