Seon

SEPTEMBER 20, 2023

According to McKinsey, banks use up to 40% of their onboarding time on KYC and due diligence processes. KYC onboarding is, therefore, an act of customer due diligence and enhanced due diligence. No customer wants to encounter it when they sign up with an organization.

Process 52

Process Due Diligence AML Verification 52

Neopay

MARCH 7, 2024

Due diligence and monitoring: Policies lack specificity, leading to ambiguity in the actions required for compliance with MLRs, particularly concerning due diligence, ongoing monitoring, and the establishment of effective procedures. To find out more about how we can support you business, click here.

AML 52

AML Financial Crimes Crime Risk Assessment 52

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

Segpay

OCTOBER 18, 2023

A payment processor that includes risk management, KYC/AML, and Customer Due Diligence services and robust fraud detection solutions in their value proposition helps merchants reduce costs and prevent the nightmare of accidentally becoming an aggregator for criminals. The post Transaction Laundering appeared first on Segpay.

Transactions 52

Transactions Due Diligence Money Laundering Legal 52

Seon

JULY 10, 2024

In contrast, payment transaction monitoring ensures regulatory compliance and the proper processing of legitimate transactions. However, the two often overlap, as both contribute to an organization’s overall risk management and compliance efforts. What’s the Role of Machine Learning in Fraud Monitoring?

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

Fintech Finance

MAY 21, 2024

Automate Customer Due Diligence (CDD) requirements and identify high-risk entities by classifying a business’ industry and conducting screening for adverse media, U.S. They use Middesk to verify the legitimacy of businesses they work with, while adhering to strict regulatory compliance requirements.

UCC 52

UCC Payment APIs and Integration Due Diligence Verification 52

Finovate

APRIL 10, 2024

Banks need to ensure that their partners comply with data protection regulations and stay up-to-date on regulatory changes. However, by conducting proper due diligence, regularly updating controls, and learning from other institutions’ mistakes, firms may find it easier to sleep at night.

Due Diligence 52

Due Diligence Privacy Compliance Regulatory Compliance 52

The Fintech Times

JULY 31, 2024

Julie Cunningham, founder and CEO of Portend As Julie Cunningham , founder and CEO of due diligence platform Portend , explains: “Fintech impact platforms often grapple with complex regulatory landscapes. Balancing regulatory compliance with innovation is critical to maintaining the trust of users and regulators alike.”

Compliance 64

Compliance AML Regulations Due Diligence 64

Seon

JUNE 29, 2023

KYT is a regulatory compliance requirement. As such, it is part of an organization’s due diligence. Transactions that can be linked to terrorist financing can be elevated from conventional AML due diligence to advanced AML due diligence.

Transactions 52

Transactions Due Diligence Money Laundering AML 52

Neopay

JUNE 27, 2024

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. Additionally, firms should stay updated on regulatory changes and developments in the payments industry. The post FCA Authorisations: How are things changing?

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

Fintech News

FEBRUARY 21, 2024

MAS’ consultative approach in liaising with the financial sector and refining the Bill, coupled with its commitment to balancing regulatory efficacy with industry viability, sets a benchmark for regulatory compliance unlike the rest of the region.

Financial Crimes 104

Financial Crimes Crime Authorization Consulting 104

Fintech Labs Insights

MARCH 24, 2016

You say you wanna revolution in due diligence, but would love to see the plan? OutsideIQ has leveraged its strengths in cognitive computing and natural language processing to deliver an automated due diligence solution, DDIQ. Finovate: What problem does OutsideIQ solve? Finovate: How does DDIQ solve the problem better?

Due Diligence 14

Due Diligence Audit Regulatory Compliance Automation 14

The Fintech Times

SEPTEMBER 14, 2024

Hilary Wandall , chief ethics and compliance officer at Dun & Bradstreet “AI is beginning to play a pivotal role in streamlining certain regulatory compliance processes within the fintech industry. ” The post Using AI to Streamline Compliance Processes: The Future or Could Too Much go Wrong?

Compliance 69

Compliance AI Process Suspicious Activity Report (SAR) 69

EBizCharge

JULY 3, 2024

Regulatory Compliance Maintaining regulatory compliance is critical, given the ever-evolving nature of industry-specific legislation and standards. Businesses must, therefore, conduct due diligence in assessing the security protocols of their chosen billing providers to mitigate potential data vulnerabilities.

Regulatory Compliance 52

Regulatory Compliance Due Diligence Process Compliance 52

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. The post How APC Will Fight Financial Crime in Panama appeared first on FICO.

Financial Crimes 40

Financial Crimes Crime Due Diligence Money Laundering 40

FICO

JULY 21, 2020

As my colleague TJ Horan says in his post , the worlds of fraud and compliance are moving closer together. Compliance teams want to: Be compliant with anti-money laundering regulations to protect their reputation and avoid fines. by Frank Holzenthal.

Compliance 52

Compliance Money Laundering Regulatory Compliance Due Diligence 52

Seon

MAY 10, 2024

Efficient case management systems can pre-populate SARs with information from custom fields, leveraging generative AI to write SAR narratives and direct filing with regulatory authorities. What is AML Compliance? When classified as high risk, Enhanced Due Diligence (EDD) is performed to provide a deeper analysis of the potential risks.

AML 52

AML Money Laundering SARS Suspicious Activity Report (SAR) 52

FloQast

APRIL 12, 2024

Remember, the goal of the S-1 filing is not just regulatory compliance but to lay a foundation of transparency and trust with your future investors. The post Mastering S-1 Filing Requirements in Your Pre-IPO Journey appeared first on FloQast.

Underwriting 52

Underwriting Indemnification Due Diligence Regulatory Compliance 52

Fintech News

JANUARY 16, 2024

Generative AI offers many applications in banking, from enhancing due diligence and risk management to streamlining legal contract generation and code writing. This technology can significantly reduce costs, minimise disruptions, and enhance regulatory compliance.

AI 109

AI Risk Non-Bank On-Demand 109

FICO

FEBRUARY 14, 2017

In yesterday’s post, my colleague TJ Horan introduced the topic of artificial intelligence being applied to anti-money laundering (AML). I’m going to explore the impact advanced analytics can have on the current state of regulatory compliance. Cost pressure will accelerate the adoption of AI in the compliance sector.

AML 40

AML Compliance AI Money Laundering 40

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. Collect data from internal and external sources.

Financial Crimes 52

Financial Crimes AML Crime Automation 52

Fintech Labs Insights

FEBRUARY 21, 2017

In addition to the funding, Mundi will provide due diligence support and will offer Qumram access to corporate executives, new markets, and new customers via the Mundi Club, a global network of 500+ Spanish business leaders. The post Qumram’s Regtech Offering Lands $1.49 and U.S.A. Million appeared first on Finovate.

Due Diligence 15

Due Diligence Fraud Detection Regulatory Compliance Compliance 15

The Fintech Times

AUGUST 13, 2024

PwC UK , the professional services leader, is joining forces with Cockroach Labs , a cloud-native SQL database provider for modern cloud applications, in a move to reduce the risks, costs, and complexity of regulatory compliance and mainframe modernisation.

Compliance 64

Compliance Risk Database Due Diligence 64

Fintech Labs Insights

NOVEMBER 12, 2015

When investors find what they are interested in, they can dig deeper and conduct the necessary due diligence. They can find out which have added the offering to be tracked, which have conducted due diligence, and so on. The Future.

Due Diligence 26

Due Diligence Accreditation Regulatory Compliance Regulations 26

Seon

SEPTEMBER 23, 2024

List Checking : Comparing information against core sanctions lists, such as the Office of Foreign Assets Control (OFAC) Consolidated List, OFAC’s Specially Designated Nationals (SDN) List, the European Union’s Consolidated List of Sanctions, the United Nations Security Council’s Consolidated List, and other local regulatory watchlists.

Suspicious Activity Report (SAR) 52

Suspicious Activity Report (SAR) Money Laundering Due Diligence AML 52

FloQast

MARCH 12, 2024

Describe the company’s operating model and how it plans to scale operations post-IPO. These partners will guide you through the regulatory landscape, financial structuring, and effective communication with potential investors. Post IPO The IPO isn’t the end of the story. Company strategy. Company strengths.

Advisors 52

Advisors Due Diligence Audit Legal 52

The Fintech Times

FEBRUARY 8, 2024

To deliver financial solutions that empower Latin America, we must address the region’s fragmentation with due diligence and recognise not only divergent demands from each country, but also the diverse needs of the banks and their respective stakeholders.

Product 69

Product Payment APIs and Integration Due Diligence Small Business 69

The Fintech Times

SEPTEMBER 19, 2024

This approach not only improves compliance efficiency but also strengthens the institution’s ability to adapt swiftly in a dynamic regulatory landscape. Previously, the AML focus was primarily on conducting due diligence during the onboarding of new customers and periodically throughout the customer lifecycle.

Risk 59

Risk Financial Crimes AML Risk Management 59

The Fintech Times

FEBRUARY 19, 2024

As regulatory compliances are updated, fintechs and payment platforms with robust currency management programs, multiple licences and MCCY IBAN’s will become more popular with businesses engaged in global trade. . ” The post What Is the Top Priority for Firms Looking To Offer Cross-Border Payments?

Cross-Border Payments 69

Cross-Border Payments Cross-Border Stablecoins Multi-Currency 69

EBizCharge

JULY 29, 2024

Compliance requirements: Local and international regulations, such as anti-money laundering (AML) and knowing your customer (KYC) laws , can complicate B2B transactions. Increased data security and compliance with regulations Data security and regulatory compliance are critical concerns for businesses.

Product 52

Product Payments Electronic Funds Transfer (EFT) Compliance 52