Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

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. Appointing compliance officers Allowing external audits Providing access to data to researchers Enabling users to flag illegal or harmful content.

Compliance 52

Compliance Privacy Regulatory Compliance Data Security 52

The Fintech Times

JULY 31, 2024

“One of the most meaningful ways we protect our customers and their homes is to work with them to understand and mitigate risk,” said Rebecca L. .” ” With ZestyAI models, carriers are able to move from territory-based segmentation to a property-by-property risk assessment.

Risk 58

Risk AI Risk Assessment Assessments 58

The Fintech Times

AUGUST 29, 2024

Cashfree Payments , the Indian paytech and API banking solutions provider, has launched Secure ID, its end-to-end solution for identity verification, risk assessment and fraud prevention. Today, regulatory compliance is paramount for digital-first businesses to reduce losses and grow. With UIDAI recording 1.96

Checks 68

Checks Risk Assessment Security Payment APIs and Integration 68

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

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

Neopay

MARCH 7, 2024

Risk Assessment weaknesses: Annex 1 firms have demonstrated inadequacies in conducting comprehensive Business Wide Risk Assessments and Customer Risk Assessments, leaving significant gaps in their AML frameworks.

AML 52

AML Financial Crimes Crime Risk Assessment 52

The Fintech Times

MARCH 25, 2024

This debate has become more complex and nuanced in the context of open finance, where aligning technology investments with key objectives such as regulatory compliance, secure data management, and enhancing customer interactions takes precedence.

Finance 114

Finance Regulatory Compliance Compliance On-Demand 114

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

Seon

JUNE 24, 2024

The rise of online transactions and evolving cybercrime tactics highlight the urgent need for strong identity risk management and monitoring. Identity theft presents significant challenges to businesses, making proactive risk mitigation essential for regulatory compliance, trust, asset protection, and operational integrity.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 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 102

Risk Management AI Risk Use Case 102

Neopay

MARCH 4, 2024

By publicly naming firms under investigation, the FCA sends a clear message that misconduct will not be tolerated, aiming to dissuade other firms from engaging in similar malpractices and fostering a culture of compliance and integrity.

Compliance 52

Compliance Mitigation Risk Mitigation Regulatory 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. And finally, remember your risk assessment is fundamental. No problem.

AML 52

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

EBizCharge

NOVEMBER 12, 2024

Risk assessment: After gathering the necessary information, a risk assessment is conducted to evaluate a business’s risk profile. Underwriters analyze factors such as transaction volumes and potential risks to determine the likelihood of financial instability or fraud.

Underwriting 52

Underwriting ISOs Risk Assessment Assessments 52

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

VISTA InfoSec

AUGUST 22, 2023

As technology advances and the use of biometric data becomes more prevalent, it is crucial to address the privacy concerns and regulatory compliance associated with this sensitive data. Artificial Intelligence (AI) can also be utilized to ensure compliance and responsible handling of biometric data.

Privacy 130

Privacy Compliance Legal Best Practices 130

Nanonets

APRIL 11, 2023

These challenges include: Increased regulatory scrutiny and compliance requirements : Stricter regulations and compliance mandates place a significant burden on lenders to adhere to evolving rules and standards. Manual compliance processes increase the risk of non-compliance and may result in costly fines or penalties.

Origination 52

Origination Automation Risk Assessment Underwriting 52

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. “This is done through the integration of risk management, adaptive risk mitigation, process automation, and real-time analysis. ” So is risk orchestration all it’s cracked up to be?

Risk 58

Risk Financial Crimes AML Risk Management 58

VISTA InfoSec

OCTOBER 20, 2023

Regulatory Compliance : Meets requirements like HIPAA that mandate disaster recovery plans. Perform ePHI Risk Assessment: Potential Threats: Identify threats to ePHI assets, including natural disasters, technical issues, and security threats. Service Continuity : Ensures essential healthcare services remain operational.

Disaster Recovery 130

Disaster Recovery Regulatory Compliance Procedures Duplicate 130

Fintech Finance

FEBRUARY 29, 2024

Socure’s AI-powered platform uses predictive analytics and a database of over two billion identities to provide industry-leading accuracy for KYC/CIP compliance, fraud detection and ID verification through its fully integrated suite. Trustly, with direct banking integrations, provides instant Open Banking payments with transaction guarantees.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

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

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. However, more than half (51 percent) characterized their AML risk assessment, specifically, as “very” or “completely” effective.

AML 49

AML Compliance Money Laundering Financial Crimes 49

The Payments Association

OCTOBER 3, 2024

Sophisticated credit-scoring algorithms allow for more accurate risk assessment, enabling banks to extend credit responsibly and efficiently. These solutions empower organisations to manage the entire card lifecycle, from issuance to compliance, with minimal operational overhead.

Payment APIs and Integration 88

Payment APIs and Integration Online and Mobile Banking On-Demand Process 88

Seon

SEPTEMBER 20, 2023

Onboarding ensures the KYC process is worthwhile and well-informed by verifying the identity of prospective customers and assessing their risk level. 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

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

PYMNTS

APRIL 10, 2020

The study is part of the larger Unlocking AI series by PYMNTS, examining how AI and other computational systems are being used to manage critical business functions, including payments, regulatory compliance, risk assessment and fraud protection.

AI 144

AI Fraud Detection Regulatory Compliance Risk Assessment 144

Nanonets

SEPTEMBER 18, 2024

Even small errors can lead to significant financial discrepancies or compliance issues. Solutions: Choose a reputed automation tool that adheres to national and global compliance and regulatory standards such as GDPR, HIPAA, SOC2, ISO 27001, FedRAMP (in the U.S.)

Automation 52

Automation Audit Payment APIs and Integration Compliance 52

PYMNTS

MARCH 6, 2020

The goal of this series is to assess how banks and other sectors are using AI and other computational systems to manage critical business functions, including payments, regulatory compliance, credit risk and financial fraud. Our study identifies six main computational systems in use by FIs today, including AI.

AI 81

AI Credit Risk Regulatory Compliance Risk Assessment 81

The Fintech Times

MAY 14, 2024

One of the most significant frustrations is the regulatory complexity and uncertainty that often accompany innovative fintech solutions. Navigating through a labyrinth of regulations and compliance requirements can be daunting, especially when these regulations vary across different regions and jurisdictions.

Privacy 63

Privacy Compliance FinTech Innovation 63

Tearsheet

JULY 1, 2024

First and foremost, your security must exceed industry compliance standards. Start with a risk assessment. Another area is regulation and compliance. The regulatory environment is continuously shifting, and understanding and keeping up with this can be impossible if you’re also trying to run a business.

BNPL 105

BNPL Online and Mobile Banking Encryption Payments 105

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. Ask an Expert What Does KYT Mean for AML Compliance? It achieves this through transaction and behavior monitoring, risk assessment, and alert generation.

Transactions 52

Transactions Due Diligence Money Laundering AML 52

FICO

MARCH 24, 2021

Here are some quick tips to keep you focused on your priorities: Review Risk Assessments and adjust internal controls as needed. Maintain a strong Tone at the Top (“Culture of Compliance”). Plan for upticks in particular areas of AML compliance activity. Set clear and realistic priorities.

Money Laundering 98

Money Laundering SARS Financial Crimes Fincen 98

Fintech Review

JANUARY 24, 2024

Innovative strategies like peer-to-peer platforms and AI for risk assessment are revolutionizing the market, offering tailored loans and faster approvals, thereby boosting customer satisfaction.

Risk Management 105

Risk Management Assessments Small Business Innovation 105

PYMNTS

APRIL 24, 2020

percent reported using AI for underwriting and risk assessment purposes. About: The Unlocking AI Playbook: Credit Risk And Payments Edition , powered by Brighterion , examines the state of AI adoption in the banking sector and assesses the system’s most promising applications currently and in the future.

Credit Risk 100

Credit Risk Risk AI Underwriting 100

The Fintech Times

MARCH 18, 2024

As the financial toll climbs, regulators worldwide are stepping up, implementing stricter security and compliance mandates to safeguard the digital payment ecosystem and enforce corporate accountability in fraud prevention. Multi-dimensional analysis AI algorithms are powerful detectives in the fight against fraud.

Fraud Prevention 58

Fraud Prevention AI Fraud Detection Payments 58

FICO

JULY 31, 2019

As TPRM or third-party risk management grows in importance, so does cybersecurity risk assessment as part of it. The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management. if necessary?

Risk 70

Risk Security Risk Assessment Risk Management 70

PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. A report found that the U.S. imposed a full $23.52 billion and the Middle East levied $9.5 million. .

Suspicious Activity Report (SAR) 75

Suspicious Activity Report (SAR) FinTech Money Laundering AML 75