Stax

AUGUST 22, 2024

Thorough due diligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy. You need thorough due diligence, technology, and adherence to regulatory guidelines in your risk management strategy. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Nanonets

DECEMBER 13, 2023

The audit trail acts as a comprehensive record, demonstrating due diligence in regulatory adherence. Data Privacy and Security Compliance: AI systems can enhance data privacy and security compliance by implementing robust encryption methods and access controls.

AI 102

AI Process Fraud Detection Compliance 102

Neopay

JUNE 27, 2024

This includes implementing robust customer due diligence processes, screening arrangements, customer risk assessment, transaction monitoring systems and ongoing due diligence reviews and risk assessments. Implement strong data privacy controls, including access controls, encryption and regular data backups.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

The Payments Association

MARCH 20, 2025

Having robust contingency plans, backup systems, and disaster recovery mechanisms ensures that, in the event of a failure, operations can continue with minimal impact. Advances in quantum computing may revolutionise cybersecurity, offering next-generation encryption that protects against sophisticated cyber threats.

Compliance 88

Compliance Disaster Recovery Regulatory Compliance Risk 88