Finextra

AUGUST 20, 2024

Norwegian software vendor Commercial Banking Applications AS (CBA), today confirmed that ABN AMRO Bank has gone live using the comprehensive Transaction Due Diligence (TDD) functionality now available within CBA’s IBAS GBF - Global Banking Factory.

Due Diligence 52

Due Diligence Transactions Finance 52

Finextra

MARCH 6, 2024

Danish due diligence startup Spektr has hired former Citi and Google executive Reno Mathews as chief compliance officer.

Due Diligence 45

Due Diligence Compliance 45

Fintech News

AUGUST 1, 2024

This service aims to streamline business due diligence and compliance for financial institutions and SMEs, addressing counter-party risk, credit exposure, and compliance with anti-money laundering (AML) regulations. JewelPaymentech, acquired by ADVANCE.AI The post ADVANCE.AI

Due Diligence 113

Due Diligence Money Laundering AML Verification 113

FloQast

MAY 2, 2024

Listeners gain valuable lessons in ethics, due diligence, and professional skepticism, making it a compelling exploration for finance professionals. More than a narrative of past misdeeds, “The Fraud Files” offers insights into the mechanics of fraud and its consequences.

Crime 101

Crime Due Diligence Advisors Agreements 101

Finezza

APRIL 9, 2024

It involves due diligence regarding customer background by the lenders, regulatory compliance, and financial processes for the lender. The lending life cycle consists of all activities that begin at the loan application stage and culminate with the final repayment.

Best Practices 89

Best Practices Due Diligence Regulatory Compliance Compliance 89

Bank Automation

JANUARY 25, 2024

Venture funding fell in 2023 as investors took uncertain macroeconomic conditions into account and doubled down on due diligence. Global venture funding in 2023 stood at $248.4 billion, down 42% year over year, its lowest point since 2017, according to a Jan. 4 State of Venture 2023 report by business analytics provider CB Insights.

Due Diligence 78

Due Diligence FinTech Accounts 78

Fintech News

APRIL 16, 2024

As well as the option to benefit from diligence services supported by iCapital, the platform provides a variety of investment opportunities under a unified agreement, facilitating the creation of diversified investment portfolios that align with client objectives.

Due Diligence 120

Due Diligence APACS Advisors Returns 120

PYMNTS

SEPTEMBER 22, 2020

“A bank providing services in support of a stablecoin project must comply with all applicable laws and regulations and must ensure that it has instituted appropriate controls and conducted sufficient due diligence commensurate with the risks associated with maintaining a relationship with a stablecoin issuer,” Gould wrote. .

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Office of the Comptroller of the Currency OCC Stablecoins Due Diligence 138

Stax

NOVEMBER 27, 2023

KYC’s three main components are the customer identification program (CIP), which was imposed by the USA Patriot Act in 2011; customer due diligence (CDD); and regular monitoring of the customer’s account and activities, which is also called enhanced due diligence (EDD). In the U.S., Contact us for a free demo today.

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Due Diligence Money Laundering AML Financial Crimes 88

Fintech News

OCTOBER 8, 2024

These include maintaining a minimum capital of S$ 250,000 and adhering to stringent AML/CFT obligations, such as conducting customer due diligence, monitoring transactions, and reporting suspicious activities. MAS’ proposed regulatory amendments Once licensed, DTSPs will be subject to ongoing compliance requirements.

Service Provider 97

Service Provider Due Diligence AML Money Laundering 97

Fintech News

DECEMBER 6, 2023

According to Airwallex, the introduction of this generative AI technology has led to a 50 percent decrease in false-positive alerts during the KYC due diligence phase. The new tool, which utilises large language models (LLMs), aims to expedite the company’s “Know Your Customer” (KYC) assessments.

AI 120

AI Due Diligence Assessments Rules 120

Payments Dive

APRIL 25, 2022

The Office of the Comptroller of the Currency said the bank — the first crypto firm to receive a national trust bank charter in January 2021 — must overhaul its anti-money laundering program after failing to implement internal controls for customer due diligence and procedures for monitoring suspicious activity.

Office of the Comptroller of the Currency 78

Office of the Comptroller of the Currency Due Diligence Money Laundering AML 78

Fintech News

JUNE 19, 2024

We are pleased to partner with Sumsub, following a rigorous due diligence process. Achim Thienel “Market requirements and compliance expectations across the financial sector are continually changing. In light of this, banks cannot meet these on their own – they need help from specialists.

Compliance 109

Compliance Fraud Prevention Due Diligence Money Laundering 109

Payments Source

JANUARY 11, 2021

Careful due diligence is required when picking technology to expedite accounts payable automation, says Kofax's Michelle Trapani.

Due Diligence 69

Due Diligence Risk B2B Automation 69

Payments Dive

FEBRUARY 12, 2020

FinCEN put into effect the most stringent KYC regulations to date requiring FIs to comply with new Customer Due Diligence standards on beneficial ownership, along with multiple FAQs on ID collection and verification.

Best Practices 74

Best Practices Due Diligence Fincen Process 74

Fintech News

DECEMBER 13, 2023

The in-depth due diligence 01Fintech has done has shown their deep domain expertise and willingness to identify areas of growth to bring the company to the next level,” said Nikhilesh Goel, Co-founder and Group CEO, Validus. We will be able to tap into their expertise and vast network in the region.

Due Diligence 109

Due Diligence Underserved Finance Small Business 109

Fintech Finance

OCTOBER 24, 2024

Previously, he served as Senior Vice President and Corporate Controller at Netspend, where he played a pivotal role in the company’s initial public offering (IPO), overseeing SEC financial reporting and collaborating with underwriters on due diligence.

Due Diligence 96

Due Diligence B2C Underwriting On-Demand 96

Fintech News

JUNE 10, 2024

The bank said that their rigorous due diligence process ensures the identification of strategies that consistently outperform. The SC Fund will be managed by a team of investment professionals from different geographies, bringing extensive experience in manager selection.

Due Diligence 114

Due Diligence Accreditation Innovation FinTech 114

Fintech News

OCTOBER 6, 2024

One major focus is on proactive prevention, where the IMC advocates for tighter regulations on corporate service providers and enhanced due diligence for non-financial sectors vulnerable to exploitation by money launderers.

Money Laundering 122

Money Laundering Law Enforcement Financial Crimes Due Diligence 122

Finovate

DECEMBER 2, 2024

The workflow includes identification, authentication, and risk screening that provides an overall risk score that enables compliance teams to conduct due diligence and, ultimately, determine acceptance, escalation, or rejection.

Compliance 105

Compliance Acquirers Money Laundering AML 105

The Fintech Times

MAY 30, 2024

Julie Cunningham is the founder of Portend , a compliance-as-a-service platform providing due diligence on investments into startups. We are working vehemently to fine-tune our technology to provide a seamless real-time due diligence tool which is effective, efficient and does not miss any detail.

Due Diligence 59

Due Diligence Checks AI Compliance 59

Fintech News

JANUARY 16, 2024

Blacksmith enables banks to tailor their Customer Due Diligence (CDD) requirements and streamline data collection for efficiency gains. The acquisition also includes Blacksmith KYC, developed in 2017 at ING Labs Singapore, designed to optimise KYC processes within the financial industry.

Financial Crimes 109

Financial Crimes Due Diligence Crime Addressing 109

PYMNTS

APRIL 21, 2020

Ripple announced on Tuesday (April 21) that it is filing a lawsuit against YouTube , alleging that the popular video platform isn’t doing its due diligence to identify and remove crypto-related scams, according to a company blog post.

Scams 96

Scams Due Diligence Cybersecurity Digital Currency 96

The Fintech Times

AUGUST 11, 2024

While some firms demonstrated good practices, many fell short of the required standards, especially in their approach to due diligence on so-called ‘stable’ cryptoassets. The poor In contrast, firms displaying the poorest practices failed to implement robust due diligence processes.

Compliance 69

Compliance Due Diligence Regulations Risk 69

PYMNTS

JULY 24, 2020

A traditionally manual process involving PDF questionnaires, supplier due diligence is rarely at the top of the list when organizations are considering where to place their resources to invest in new, automated technology. So it’s not exactly surprising that supply chain risk mitigation efforts can fall by the wayside.

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

Fintech News

NOVEMBER 20, 2024

Regulators only require ‘due diligence,’ but the definition of what constitutes adequate due diligence can vary.” In B2C, there are well-established industry standards, but in the B2B space, there are no universal standards,” Deng said.

Cross-Border Payments 106

Cross-Border Payments Cross-Border B2B Due Diligence 106

Finextra

SEPTEMBER 12, 2024

As the COO of smartKYC, I've been at the forefront of innovation in due diligence and Know Your Cus

Due Diligence 52

Due Diligence AI Innovation 52

Finovate

SEPTEMBER 4, 2024

With Venminder, firms can manage vendors, track contract data, perform due diligence and oversight, send and score questionnaires, conduct risk assessments, systemically monitor risks across domains, order due diligence assessments on vendor controls, and more.

Risk Management 59

Risk Management Risk Acquirers Due Diligence 59

Fintech Finance

SEPTEMBER 6, 2024

This partnership simplifies a crucial part of the payment process, which has grown more complex due to the evolving digital insurance landscape and economic changes. These challenges require enhanced due diligence which Cogitate and One Inc are addressing to create a more efficient and modern policyholder experience.

Payment Solutions 94

Payment Solutions Digital Payments Due Diligence Payments 94

PYMNTS

SEPTEMBER 28, 2020

A Marriage Of Advanced Tech With Due Diligence. As the latest Preventing Financial Crimes Playbook states, “Curbing identity fraud’s rise will require the marriage of advanced technologies with due diligence from customers.

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

Finextra

AUGUST 19, 2024

Global carbon ratings agency, BeZero Carbon, has partnered with Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, to support its carbon due diligence efforts and scale the nascent UAE carbon market.

Due Diligence 52

Due Diligence 52

Fintech Finance

NOVEMBER 6, 2024

Buna’s compliance program integrates rigorous Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), and sanctions screening protocols both before and after settlement, offering real-time monitoring and thorough due diligence to safeguard financial transactions.

Cross-Border Payments 97

Cross-Border Payments Visa Cross-Border Multi-Currency 97

The Fintech Times

FEBRUARY 12, 2024

The actions taken by the FSRA address failures (to the extent applicable in each case) to: follow due diligence procedures as required by the Regulations; keep records of the performance of due diligence; report required information in a complete and accurate manner; and/or submit the required annual information return.

Distributed Ledger Technology (DLT) 59

Distributed Ledger Technology (DLT) Due Diligence Innovation Procedures 59

The Fintech Times

AUGUST 30, 2024

However, they must do their due diligence too, especially in the age of deep-fakes. This ongoing due diligence process is crucial to ensure that businesses continue to meet know your customer (KYC) regulatory requirements.

Authentication 64

Authentication Due Diligence Verification Compliance 64

Bank Automation

OCTOBER 31, 2024

Regulators may issue public orders after examining the firm’s compliance programs “including transaction monitoring, training, governance and customer due diligence,” […] The post BofA says U.S. Bank of America Corp. may take action over money laundering, Zelle appeared first on Bank Automation News.

Money Laundering 59

Money Laundering Zelle Due Diligence Regulations 59

Finextra

SEPTEMBER 12, 2024

FE fundinfo, a leading financial data company connecting the asset management industry to wealth management networks in the UK, Europe and Asia, today announced the further expansion of its comprehensive suite of products for UK advisers with the acquisition of due diligence and product selection tool provider, AdviserAsset.

Due Diligence 52

Due Diligence Product 52

PYMNTS

DECEMBER 11, 2020

“Onboarding corporate customers for business accounts, for example, can take even as long as one month, and these lengthy waits are quite costly for large FIs, amounting to more than $500 million annually spent on due diligence,” the Tracker adds. That’s expected to cost banks an $168.9

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Due Diligence Authentication Verification Deposit Account 81