The Fintech Times

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 59

Cross-Border Payments Cross-Border Visa Multi-Currency 59

Fintech News

FEBRUARY 7, 2024

Netbank – US$344 million (Series A, Philippines) Filipino banking-as-a-service (BaaS) provider Netbank secured the largest funding round in Southeast Asia (excluding Singapore) last year, raising in May 2023 a US$344 million Series A funding round, data from KPMG and Pitchbook show. Soft Space – US$31.5 billion (US$79.6

FinTech 109

FinTech Online and Mobile Banking Non-Bank On-Demand 109

Finovate

AUGUST 13, 2024

banks and credit unions. Banks and credit unions. Diadem Capital Diadem Capital is a deal flow engine and fundraising solution connecting private companies to private capital ranging across venture capital, private equity, venture debt, and non dilutive funding sources. Banks and credit unions.

Credit Union 59

Credit Union Due Diligence Legal Non-Bank 59

Fintech News

JUNE 10, 2024

Finance and Venture Capital Category (24) Aleena Nadeem, 29, Founder and CEO, EduFi, Pakistan Aleena Nadeem is the founder and CEO of EduFi, a Pakistani startup that aims to make higher education more accessible to students. She also played a role in the initial public offering (IPO) of Lyft and Auto1.

FinTech 127

FinTech Non-Bank Finance AI 127

The Payments Association

OCTOBER 11, 2024

Tighter oversight of third parties: When firms engage third parties to manage safeguarded funds, stricter due diligence and diversification will be required , reducing third-party failure risks. He says: “I think the onus will be on doing appropriate due diligence at the start.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

Tearsheet

AUGUST 7, 2024

This collaboration aims to provide corporate clients with improved short-term financing options and embedded payment solutions at the point of sale. We have chosen Slope to help provide our clients with a solution to offer short-term financing as an extension of payment terms to their business customers, powered by Slope’s platform.

AI 59

AI B2B Finance Underwriting 59

Neopay

JANUARY 25, 2024

The European Banking Authority (EBA) on 16th January extended its Guidelines on money laundering (ML) and terrorist financing (TF) risk factors to crypto-asset service providers (CASPs). Therefore, it is important that CASPs know about these risks and put in place measures that effectively mitigate them.

Service Provider 52

Service Provider Risk Due Diligence Money Laundering 52

Fintech News

FEBRUARY 7, 2024

Netbank – US$344 million (Series A, Philippines) Filipino banking-as-a-service (BaaS) provider Netbank secured the largest funding round in Southeast Asia (excluding Singapore) last year, raising in May 2023 a US$344 million Series A funding round, data from KPMG and Pitchbook show. Soft Space – US$31.5 billion (US$79.6

FinTech 93

FinTech Online and Mobile Banking Non-Bank On-Demand 93

Stax

DECEMBER 4, 2023

The Bank Secrecy Act (BSA) establishes AML program requirements for financial institutions in the US while the USA Patriot Act lays down which entities are required to comply. Often, it’s also used for the financing of terrorism making the world highly unsafe. Non-compliance can have major implications. Let’s get started.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

Fintech News

MAY 22, 2024

It includes a suite of financial and non-financial crime risk domains with hundreds of risk indicators and controls, though users can also integrate their own. The company’s clients span across 11 sectors, including banking, fintech, corporate services, and real estate, and 18 jurisdictions. Transparently.AI

Financial Crimes 85

Financial Crimes Crime APACS Risk Assessment 85

The Fintech Times

DECEMBER 19, 2023

” AI and banks John Barber, vice president of Infosys Finacle Europe The primary learning from 2023 is that generative AI is bringing in a paradigm shift in how banks embrace AI, according to J ohn Barber , vice president of Infosys Finacle Europe. Many banks have had noteworthy pilots.

AI 78

AI Embedded Finance Due Diligence Finance 78

PYMNTS

SEPTEMBER 24, 2020

Australian banking giant Westpac has agreed to a massive fine of $920 million ($1.3 24), noting that Westpac had violated anti-money laundering (AML) and terrorism financing regulations more than 23 million times. million in Australian dollars) in a bid to put a money-laundering scandal behind it.

Regulations 46

Regulations Money Laundering Due Diligence Law Enforcement 46

Global Fintech & Digital Assets

MARCH 5, 2024

Regulator sets out its expectations for banks looking to provide digital asset custody services, and sell and distribute tokenised products. All of this recent guidance aims to deliver more certainty for banks and securities firms seeking to capitalise on developments in digital assets and tokenisation. loyalty points, in-game assets).

Authorization 59

Authorization Product Due Diligence Procedures 59

PYMNTS

JUNE 17, 2020

In financial fraud, the breaches come when bank standards are lax. Australian bank Westpac Banking Corp. And that guiding principle is what leads fraudsters and bad actors to probe systemic vulnerabilities in banks’ compliance processes. may stand as Exhibit A here. There was no evidence of intentional wrongdoing.”.

AML 75

AML Money Laundering Compliance Financial Crimes 75

PYMNTS

MARCH 15, 2019

As a major player in cross-border banking and global finance, the country doesn’t just need to combat domestic financial crimes: It is also at risk of becoming a hub for transmitting and investing criminal funds obtained overseas. . banks and their subsidiaries every year. It is actually impossible in the U.K.,

Money Laundering 65

Money Laundering AML Non-Bank Regulations 65

Stax

JANUARY 1, 2024

Some banks might offer fee waivers under certain conditions, such as maintaining a combined balance across multiple accounts. Depending on the bank and the type of account, this can range from a nominal sum to a substantial amount. The ease of managing finances can significantly impact a business’s day-to-day operations.

Accounts 88

Accounts Online and Mobile Banking API ATM 88

Stax

JANUARY 8, 2024

Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer due diligence, and adherence to card regulations. However, several complex types of risks come along with this. This requires sound underwriting policies and procedures.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

Fintech News

JANUARY 24, 2024

The move aims to protect against financial crime and loss, particularly in digital fraud, and includes broadening DPT service definitions and enhancing Anti-Money Laundering (AML) protocols such as Customer Due Diligence and transaction monitoring. Sparrow Tech Private offers digital asset products and solutions.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Stablecoins 98

Nanonets

APRIL 29, 2024

As you look into the labyrinth of spreadsheets and ledger entries, you stumble upon discrepancies in your balance sheet—a familiar scenario for many finance professionals. It leverages advanced algorithms and artificial intelligence to identify discrepancies and errors, allowing finance teams to promptly investigate and resolve issues.

Reconciliation 52

Reconciliation Payment APIs and Integration Regulatory Compliance Audit 52

PYMNTS

SEPTEMBER 12, 2017

The company uses an API that captures transaction data from a corporate buyer, and its network of banks, to provide suppliers with payments on their invoices 24 hours after their orders ship. Designing a solution specific to B2B payments means taking into accounts receivable risks like non-payment.

Payment APIs and Integration 46

Payment APIs and Integration B2B Due Diligence Payments 46

FICO

MARCH 6, 2020

A partnership aimed at helping banks, payment providers and fintechs meet the ever stronger regulatory demands while reducing effort and expense. . We serve corporates, insurance companies, and banks – be it a retail, private, wealth management, automotive or telecom bank, tier 1 or tier 3 bank. What do you do?

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

Global Fintech & Digital Assets

JANUARY 8, 2024

The Discussion Paper received responses from a wide variety of stakeholders, including industry bodies, crypto native firms, and banks, and the HKMA announced in the Discussion Conclusions that it would propose a risk-based regulatory framework for fiat-referencing stablecoins (FRS), with further consultation in due course.

Stablecoins 59

Stablecoins Consulting Issuers Non-Bank 59

Global Fintech & Digital Assets

FEBRUARY 13, 2024

In June 2023, Hong Kong introduced a comprehensive regime to regulate VA service providers operating a virtual asset trading platform (VATP) (see this Latham blog post ) through an amendment to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). VATPs are supervised by the Securities and Futures Commission (SFC).

Regulations 59

Regulations Money Laundering Stablecoins Consulting 59

EBizCharge

JUNE 20, 2024

13 accounts receivable best practices Adopting the best AR practices helps maintain consistent revenue, reducing the need for external financing and minimizing non-payment risk. This due diligence reduces the risk of bad debt and strengthens financial planning and risk management strategies.

Best Practices 52

Best Practices Accounts Disputes Procedures 52

Nanonets

NOVEMBER 16, 2023

Although referred to as supplier payments or vendor payments, the complete vendor payments process is much more than simply sending a check in the mail or submitting a wire transfer through your business bank account. Vendor invoice management starts here, requiring a careful eye from your AP team.

Process 52

Process Technology Wire Transfer Payments 52

Fintech Labs Insights

NOVEMBER 18, 2015

additiv’s Descartes Finance Digital Asset Management Platform uses an array of sophisticated digital asset management functions to provide demanding, self-directed investors with solutions to implement individualized portfolio solutions. To watch all 70+ companies demo live, be sure to register soon.

Payment APIs and Integration 31

Payment APIs and Integration Non-Bank Multi-Currency Risk 31

Nanonets

FEBRUARY 13, 2024

When it comes to managing your business finances, one of the fundamental steps you can take is to categorize your expenses. Insurance : Adequate insurance coverage is non-negotiable for protecting your business. In this blog, we're diving into why and how to categorize your business expenses. Why Categorize Business Expenses?

IRS 52

IRS Automation Adjustments Audit 52

Fintech Labs Insights

APRIL 17, 2017

Cadre undertakes all sourcing and due diligence on properties before presenting the opportunities to investors. Groundfloor is open to accredited and non-accredited investors in eight U.S. The company focuses on commercial, retail, and multifamily properties in all major U.S. geographies. Groundfloor. RealtyShares.

Accreditation 19

Accreditation Technology Returns Due Diligence 19

CB Insights

OCTOBER 29, 2018

But money was just the problem: due diligence oversights on Caterpillar’s part and alleged “deliberate, multi-year, coordinated accounting misconduct” at Siwei were uncovered months after the deal closed and Caterpillar took a $580M non-cash goodwill impairment write-down in 2012. Bank of America and Countrywide.

Acquirers 76

Acquirers Online and Mobile Banking Non-Bank Innovation 76

Global Fintech & Digital Assets

OCTOBER 5, 2023

Coin Listing Policy Requirements Under the Proposed Guidance, a VCE need not seek prior DFS approval to list a coin that does not appear on DFS’s Greenlist via self-certification, so long as: DFS has approved the VCE’s coin-listing policy which meets DFS standards for self-certification of the listing of non-Greenlisted coins.

Stablecoins 52

Stablecoins Procedures Issuers Due Diligence 52

CB Insights

OCTOBER 31, 2017

” In the spirit of failure, we dug into the data on startup death and found that 70% of upstart tech companies fail — usually around 20 months after first raising financing (with around $1.3M So its secured lender, which [founder Scott] Jones didn’t name, recently emptied ChaCha’s bank accounts.

Posting 78

Posting Product Online and Mobile Banking On-Demand 78

Finovate

APRIL 24, 2024

Here’s an overview of the new-to-Finovate demo companies currently on the roster: APIMatic APIMatic helps banks and fintechs generate ROI from their API investments via automation and AI solutions. Bloom Credit Bloom Credit helps banks and credit unions offer a deposit retention and credit building tool to their client base.

Payment APIs and Integration 59

Payment APIs and Integration Credit Union AI Advisors 59

CB Insights

NOVEMBER 16, 2017

Mobileye built a successful company in Jerusalem, outside of traditional tech hubs, and raised money from non-traditional investors like Goldman Sachs. So it’s not shocking that they chose to cultivate a single VC as an outside source of capital while raising only $60M of outside equity financing.

Returns 78

Returns Online and Mobile Banking Acquirers On-Demand 78

The Fintech Times

OCTOBER 31, 2024

Dickon Johnstone , CEO at Themis, said: “The financial sector is potentially exposed to environmental crime risks through numerous business activities, including investment, trade finance and insurance. This creates a risk if bad actors initiate illicit activity after onboarding with a bank. per cent) in their firm.

Crime 59

Crime Risk Financial Crimes Due Diligence 59