Nanonets

SEPTEMBER 22, 2023

Effective  vendor management  contributes to cost optimization,  risk mitigation , and quality assurance. It is a critical aspect of optimizing costs, minimizing risks, and ensuring quality assurance in business operations. Benefits of Effective Vendor Management: 1.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40

The Fintech Times

JULY 29, 2024

Julie Cunningham , founder and CEO Portend , the due diligence platform, explains how firms prioritising compliance completely avoid issues and are in turn, able to direct resources towards making change. Successful platforms prioritise proactive compliance measures and user education.

FinTech 69

FinTech Due Diligence Cybersecurity Risk Mitigation 69

Segpay

OCTOBER 4, 2023

Minimal Risk: Merchants often have a low financial risk since they only pay for actual conversions. Risk Management Fraud detection and prevention measures are crucial in this type of high-risk business. Why is this type of Business often considered High-Risk?

Security 52

Security Due Diligence Compliance Payments 52

Neopay

JUNE 27, 2024

To demonstrate financial adequacy, firms should consider the following: Capital Planning: Develop a robust capital planning strategy that takes into account potential risks and contingencies. This includes conducting a thorough risk assessment, implementing appropriate risk controls and establishing effective monitoring mechanisms.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

PYMNTS

MAY 17, 2018

According to a press release Wednesday (May 16), the European Central Bank (ECB), based in Germany, has chosen OpenLink to provide treasury and risk management technology to manage its euro-dominated investment portfolio, foreign reserves and other asset purchase programs.

Treasury Management 43

Treasury Management Central Bank Treasury Due Diligence 43

PYMNTS

JULY 19, 2018

The need is there for a comprehensive approach for risk management, which in turn means that both FinTechs and FIs need a strong, consistent strategy and roadmap from the very start of collaborations. Thus, risk management must evaluate compatibility not just of tech platforms in place, but must also take a cue from strategic goals.

Risk 42

Risk FinTech Risk Management Privacy 42

PYMNTS

APRIL 18, 2018

In the age of data breaches , there’s a lot of talk and tools emerging in the fraud prevention and risk mitigation spaces, but many merchants are overlooking one of the most damaging types of fraud: the kind that is carried out not by criminals, but by the merchant’s own trusted customers.

Due Diligence 40

Due Diligence Disputes Data Breach Fraud Prevention 40

FICO

SEPTEMBER 16, 2020

In fact, 20 percent of respondents picked this as their principal obstacle in meeting financial crime risk mitigation targets. Banks are challenged by the need for more information to deal with high rates of alerts from ineffective systems, while not vexing customers with incessant due diligence questions.

Money Laundering 52

Money Laundering Financial Crimes AI APACS 52

FICO

FEBRUARY 14, 2017

We have seen some improvement in the false positive rate through the use of the risk-based approach (RBA), which banks have been implementing to comply with international regulations (such as the 4 th EU ML directive, BSA 4 pillars, and FATF 2012). customers are automatically categorized into a risk bucket. But it’s still too high.

AML 40

AML Compliance AI Money Laundering 40

Nanonets

APRIL 29, 2024

Balance sheet reconciliation software offers built-in compliance checks and audit trails, ensuring adherence to regulatory requirements and mitigating the risk of non-compliance penalties. Risk Management : Accurate and timely reconciliation is critical for effective risk management.

Reconciliation 52

Reconciliation Payment APIs and Integration Regulatory Compliance Compliance 52

PYMNTS

APRIL 27, 2017

The Central Bank told Bloomberg that during that time frame, AIB failed to “report suspicious transactions without delay” to police and tax authorities and did not engage in any due diligence of customers who had accounts that predated the first Irish anti-money laundering laws in 1995.

Money Laundering 40

Money Laundering Compliance Central Bank Due Diligence 40

PYMNTS

AUGUST 21, 2018

Know Your Customer (KYC) regulations are tightening, but due diligence goes both ways in the buyer-supplier relationship, leading to a rise in Know Your Supplier efforts, too. The risks for buyers and suppliers when doing business with each other are vast. ” Financials on both ends of the equation are key, too.

Bots 40

Bots Risk Mitigation Risk Mitigation 40

Faster Payments Council

SEPTEMBER 23, 2023

The panel will also examine leading practices to help FIs and corporates mitigate these risks. Panelists will share takeaways including steps banks and fintechs should take to determine if a partnership is a fit, ways to mitigate fraud.

FPC 88

FPC Federal Reserve RFP Faster Payments 88

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

The Fintech Times

AUGUST 9, 2024

AU10TIX , the identity verification and management firm, has unveiled a new anti-money laundering (AML) solution, in a move to help businesses ensure a safer approach to risk mitigation. The post AU10TIX Aims to Reduce Operational Risk for Businesses With New AML Solution appeared first on The Fintech Times.

AML 64

AML Risk Payment APIs and Integration Money Laundering 64

PYMNTS

OCTOBER 22, 2018

With financial crime on the rise, CGI HotScan360 aims to deliver integrated, intelligent and real-time anti-money laundering (AML), customer due diligence and fraud detection capabilities. CGI has announced the launch of CGI HotScan360, an enhanced version of its industry leading HotScan solution.

Risk Mitigation 43

Risk Mitigation Mitigation Compliance Risk 43

FICO

JANUARY 7, 2021

Leaders will: have a real-time strategic map of their supply chain network, which they will stress-test using scenarios; demand more transparency from their suppliers, and share risk and resiliency with their customers; use that understanding as a lever to reduce their cost of capital. For more information, watch this webinar: #2.

AI 52

AI Posting On-Demand Due Diligence 52

PYMNTS

APRIL 26, 2018

The growing complexity of international supply chains inevitably adds complexity to risk mitigation and increases risk exposure to all players involved. Once, a company’s top supplier-related risk may have been the threat of a vendor going out of business, or goods failing to make it to their destination on time.

Risk Management 54

Risk Management Risk Risk Mitigation Mitigation 54

Core

FEBRUARY 6, 2024

Government Accountability Office’s Fraud Risk Management Framework , a framework rooted in leading practices for both prevention and response is crucial to successfully manage fraud risk mitigation for government programs. According to the U.S. Such a framework can only work when multiple strategies are implemented at once.

Best Practices 52

Best Practices Governance Government Fraud Prevention 52