Stax

AUGUST 22, 2024

Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks. Thorough due diligence, technology, and adherence to regulatory guidelines are essential in a PayFac’s risk management strategy. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Fraud.net

NOVEMBER 24, 2023

In this digital age, anti-money laundering is challenging. Find out what regulations apply to AML in banks and how you can remain compliant.

Regulatory Compliance 52

Regulatory Compliance AML Money Laundering Compliance 52

PYMNTS

FEBRUARY 7, 2019

The burden of regulatory compliance came to a head in the U.S. Randy Fields, chairman and CEO of ReposiTrak parent company Park City Group , said this legislation exemplifies the difficulties of supply chain compliance in the food sector, and demonstrates the limitations of technology in automating compliance and due diligence.

Compliance 65

Compliance Due Diligence Audit Blockchain 65

Stax

JANUARY 23, 2025

Ensure regulatory compliance by adhering to anti-money laundering (AML) laws and Know Your Customer (KYC) requirements. Speed vs. accuracy: Streamlining processes without compromising due diligence. Protect financial stability by avoiding potential financial losses from high-risk businesses.

Underwriting 68

Underwriting PCI DSS Processors Money Laundering 68

Segpay

NOVEMBER 26, 2024

This process, known as Customer Due Diligence/Know Your Customer (CDD/KYC) is a regulatory requirement aimed at the detection and prevention of money laundering (AML), fraud and other illegal activities. Regulatory compliance is crucial in ensuring data privacy.

Verification 111

Verification Identity Theft Money Laundering Due Diligence 111

PYMNTS

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. ” Organizations must do more with less, and they must do it quickly, he continued.

Compliance 76

Compliance Due Diligence Risk Mitigation Risk 76

The Payments Association

OCTOBER 11, 2024

The reforms aim to address weaknesses in safeguarding practices, reduce consumer fund risks, and enhance regulatory compliance, particularly in preventing fund shortfalls. Conducting thorough due diligence on these third parties is essential to ensure they meet the necessary standards of security and reliability.

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

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 111

Financial Crimes Crime Authorization Consulting 111

Neopay

JUNE 3, 2024

Key considerations for a successful CiC Due Diligence : Prior to pursuing a CiC, thorough due diligence is essential. This involves: Financial services register : Checking the target firm’s regulatory status. Regulatory compliance : Assess the target firm’s regulatory history.

Due Diligence 52

Due Diligence Acquirers Regulatory Compliance Regulations 52

PYMNTS

SEPTEMBER 29, 2020

Jumio said it plans to integrate Beam’s AML screening and transaction monitoring services into its KYX platform to help flag financial crime and streamline regulatory compliance. The Palo Alto-based firm on Tuesday (Sept. The announcement comes on the heels of Jumio’s Sept. That’s the real promise of this partnership.”.

Financial Crimes 61

Financial Crimes AML Crime Money Laundering 61

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

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.

Compliance 106

Compliance AI Process Suspicious Activity Report (SAR) 106

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

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

Neopay

APRIL 8, 2024

Extended Due Diligence : More time for conducting due diligence checks on suspected fraudulent transactions leads to a stronger evidence base for rejection.

Service Provider 52

Service Provider Due Diligence Fraud Prevention Payments 52

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.

Transactions 52

Transactions Due Diligence Money Laundering Legal 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. Thanks for taking time out to talk to us. REP-CRIM has been extended to a lot more firms.

AML 52

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

AML 52

AML Financial Crimes Crime Risk Assessment 52

PYMNTS

JULY 27, 2020

. “People underestimate the time and effort and money required to enable those regulatory compliance capabilities.” ” Proliferating Market.

Compromise 74

Compromise Compliance FinTech Due Diligence 74

The Paypers

FEBRUARY 11, 2018

(The Paypers) Shyft has rolled out an open and unified blockchain framework for the standardization of regulatory, compliance, and due diligence mandates for KYC and AML.

AML 28

AML Due Diligence Blockchain Regulatory Compliance 28

FICO

JULY 21, 2020

Compliance teams want to: Be compliant with anti-money laundering regulations to protect their reputation and avoid fines. Apply the appropriate level of due diligence, taking into account if the customer is a Politically Exposed Persons (PEPs) or a subject of adverse media or offshore leaks. by Frank Holzenthal.

Compliance 52

Compliance Money Laundering Regulatory Compliance Due Diligence 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.

Financial Crimes 40

Financial Crimes Crime Due Diligence Money Laundering 40

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

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

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

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 Assessments 14

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

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 114

AI Risk Non-Bank On-Demand 114

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

FEBRUARY 13, 2019

.” Indeed, researchers have found evidence that companies are struggling to manage the growing weight of KYC, anti-money laundering (AML) and other financial regulatory compliance demands.

Money Laundering 64

Money Laundering AML Economy SWIFT 64

FICO

DECEMBER 6, 2019

It is the responsibility of the banks that provide those services to carry out due diligence, to meet their legal obligations under AML regulation. Companies set up to launder money or facilitate other criminal behaviour will still need financial services, including bank accounts.

AML 52

AML Checks Due Diligence Money Laundering 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 FDIC Compliance 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 Small Business Due Diligence 69

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.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

The Payments Association

SEPTEMBER 30, 2024

Merchants need to continue adapting to new payment methods, collaborate with industry peers, and stay agile in balancing innovation and regulatory compliance. Simultaneously, the complexity of navigating scheme fees, regulatory compliance, and fraud prevention remains a significant challenge. What’s next?

Fraud Prevention 88

Fraud Prevention Instant Payments Alternative Payment Methods Participant 88

FICO

MARCH 6, 2020

The convergence of fraud and regulatory compliance operations, which includes AML and know-your-customer, or KYC, regulations, is currently seen as one of the biggest trends in the financial crime industry by many experts. How does your software actually work, does it connect to government databases, perform statistical analyses?

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81