Neopay

MARCH 7, 2024

Risk Assessment weaknesses: Annex 1 firms have demonstrated inadequacies in conducting comprehensive Business Wide Risk Assessments and Customer Risk Assessments, leaving significant gaps in their AML frameworks.

AML 52

AML Financial Crimes Crime Risk Assessment 52

Stax

DECEMBER 4, 2023

An effective AML compliance program must include Know Your Customer (KYC) protocols, transaction monitoring and reporting, risk assessment and categorization, and training and awareness for staff. With AML legislation, financial institutions are required to follow strict protocols for money laundering risk management.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

Neopay

MARCH 14, 2024

In February, the FCA confirmed that it has significantly increased its supervisory activity with payments firms, with a focus on prudential risk management, wind down planning and safeguarding. Risk assessments and due diligence of third parties should be reviewed regularly based on your safeguarding policy.

Audit 59

Audit Risk Assessment Reconciliation Due Diligence 59

Seon

JUNE 29, 2023

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. It achieves this through transaction and behavior monitoring, risk assessment, and alert generation.

Transactions 52

Transactions Due Diligence Money Laundering AML 52

The Fintech Times

SEPTEMBER 14, 2024

The emergence of AI and ML tools has enabled companies to analyse vast amounts of data in real time, detecting patterns that indicate potential compliance risks, such as money laundering, sanctions, or fraud. AI is only as smart as the data that fuels it, making it imperative to introduce policies and adhere to data quality standards.

Compliance 106

Compliance AI Process Suspicious Activity Report (SAR) 106

FICO

JANUARY 25, 2018

Here are just three examples of where it is necessary to understand the cybersecurity posture of your business partners: Vendor risk management – understanding your suppliers’ (and their suppliers’) cyber risk. As my colleague Doug Clare wrote in his blog , connectivity creates aggregate risk. Credit risk.

Cybersecurity 49

Cybersecurity Risk Assessment Data Breach Due Diligence 49

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. Both AML and KYC onboarding are systems of risk management.

Process 52

Process Due Diligence AML Verification 52

The Fintech Times

SEPTEMBER 19, 2024

However, risk orchestration is a process promising to help fintechs and financial institutions combine their customer onboarding, authentication and risk management processes into one place. “This is done through the integration of risk management, adaptive risk mitigation, process automation, and real-time analysis.

Risk 59

Risk Financial Crimes AML Risk Management 59

Nanonets

DECEMBER 13, 2023

The audit trail acts as a comprehensive record, demonstrating due diligence in regulatory adherence. Risk Assessment and Compliance Prediction: AI can assist in proactively identifying potential compliance risks by analyzing historical data and patterns.

AI 102

AI Process Fraud Detection Compliance 102

Neopay

JUNE 27, 2024

Governance structure: Present a well-defined governance structure, highlighting key individuals responsible for regulatory compliance, risk management and oversight. Risk management framework: Develop a robust risk management framework that identifies, assesses and mitigates key risks associated with your business operations.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

PYMNTS

JUNE 20, 2019

The last thing that anyone wants to hear in almost any financial organization is that the people tasked with risk management is feeling less than fully confident about their ability to actually do that job — because they aren’t sure if their data is good.

AML 66

AML Due Diligence Money Laundering Risk Assessment 66

Global Fintech & Digital Assets

MARCH 5, 2024

Banks are expected to apply the follow guidance in connection with their digital asset custodial services: Governance and risk management : Prior to launching digital asset custodial services, banks are expected to undertake a comprehensive risk assessment and to implement appropriate policies and procedures to mitigate identified risks.

Authorization 59

Authorization Product Due Diligence Procedures 59

PYMNTS

MAY 15, 2017

The management of third-party relationships is no longer “one and done,” she added, with sporadic risk assessments. The firm was in the midst of evolving its risk management program to meet the then-current expectations of bank management and regulators.

Cybersecurity 43

Cybersecurity Risk Disaster Recovery Risk Management 43

FICO

MARCH 6, 2020

FICO brings AI and advanced analytics to risk management, fraud detection, collections and much more. We serve corporates, insurance companies, and banks – be it a retail, private, wealth management, automotive or telecom bank, tier 1 or tier 3 bank.

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

Nanonets

SEPTEMBER 22, 2023

Effective  vendor management  contributes to cost optimization,  risk mitigation , and quality assurance. In  clinical research ,  vendor management  involves stringent  regulatory requirements , including ICH E6 Good Clinical Practice, ISO 14155, FDA 21 CFR Part 50, and Regulation (EU) No 536/2014.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40

Tearsheet

AUGUST 7, 2024

Morgan’s financial strength and Slope’s innovative approach to credit risk assessment and monitoring. All of these features are powered by our AI-driven underwriting and risk-scoring infrastructure, which is built in-house from the ground up. The partnership brings together J.P.

AI 59

AI B2B Finance Underwriting 59

PYMNTS

DECEMBER 4, 2017

Judging by the startup’s name, it’s no surprise that Emailage is leveraging customer email addresses as it investigates transaction risk factors. Now, the firm is also using phone data to provide an even richer risk assessment — and relaying that data back to retailers so they can also leverage it.

Cross-Border 45

Cross-Border Payments Due Diligence Cross-Border Payments 45