The Payments Association

DECEMBER 16, 2024

Managing FX Risks in International Payments FX risks can arise from both external factors (e.g., While external factors are harder to control, businesses can mitigate their impact through effective strategies. Streamlined processes and robust controls can mitigate these risks effectively. process inefficiencies).

International Payments 88

International Payments Risk Payments Strategy Multi-Currency 88

Nanonets

MAY 31, 2023

AI can help mitigate these issues. Technologies such as machine learning and natural language processing have revolutionized the finance function by automating and streamlining various financial procedures. AI-driven predictive analytics enables proactive planning and strategic decision-making based on real-time insights.

AI 122

AI Finance Fraud Detection Mitigation 122

Stax

AUGUST 22, 2024

To mitigate some of the financial risks, you can look into retaining a portion of the funds and creating reverse accounts. Regulatory compliance risk To maintain the integrity of financial transactions and to protect cardholder data, any company dealing with payments must strictly adhere to laws and regulations.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

PYMNTS

OCTOBER 30, 2020

Strategic sourcing will also be key for organizations looking to outsource more work to contractors and third-party vendors, while risk mitigation, said Allis, will increasingly involve analysis of organizations' environmental and safety policies and procedures.

Risk 73

Risk Third Party Vendors Risk Management Risk Mitigation 73

PYMNTS

SEPTEMBER 29, 2017

Managing Risk. One of the most crucial areas for banks’ treasuries is risk mitigation , which, according to Beaulande, has become more complex as it relates to other areas of treasury management. Sixty percent said that internal regulatory examinations include an assessment of risk management practices.

Treasury 56

Treasury Addressing Treasury Management FinTech 56

PYMNTS

APRIL 27, 2017

The Central Bank said it also found AIB’s policies and procedures regarding anti-money laundering and anti-terror financing failed to meet the compliance of the law in several areas, including its trade finance business. “A

Money Laundering 40

Money Laundering Compliance Central Bank Due Diligence 40

Nanonets

APRIL 24, 2024

Through this meticulous process, businesses can mitigate the risk of errors, fraud, and legal complications, thus safeguarding their financial health and compliance.     What is Bank Reconciliation Audit and How Does it Work?

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

Neopay

JUNE 27, 2024

Risk management framework: Develop a robust risk management framework that identifies, assesses and mitigates key risks associated with your business operations. 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

Nanonets

JULY 11, 2023

Effective purchases controls ensure compliance with regulations, mitigate risks and promote operational efficiency. Receipt and Inspection of Goods: Purchases controls include procedures for receiving and inspecting goods to ensure that they meet the organization's specifications and quality standards.

Procedures 40

Procedures Audit Mitigation Assessments 40

Nanonets

SEPTEMBER 22, 2023

Effective  vendor management  contributes to cost optimization,  risk mitigation , and quality assurance. Evaluating potential suppliers through a rigorous qualification process can help mitigate risks and ensure that they align with the business objectives and values.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40

PYMNTS

FEBRUARY 11, 2020

Even as businesses move away from physical paper, their reliance on email to transmit information between trading partners and players in the ecosystem exposes the trade finance arena to the growing risk of cyberattacks. “Traditionally, financiers had to take various methods to try and mitigate fraud,” Tarone noted.

Finance 53

Finance Technology Cross-Border Distributed Ledger Technology (DLT) 53

Fi911

AUGUST 31, 2023

For instance, the right of rescission for certain transactions, advertising regulations, and procedures for resolving credit billing errors. Risk Mitigation Complying with TILA reduces the risk of litigation and regulatory fines. The Act also contains provisions pertaining to certain consumer rights in transactions.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Online and Mobile Banking Risk Mitigation Non-Bank 52

Segpay

OCTOBER 4, 2023

Reputation Risks: Non-compliance can damage the reputation of both merchants and affiliates. Source: WebShield To mitigate these compliance risks, merchants and affiliates involved in affiliate marketing should implement robust compliance programs.

Security 52

Security Due Diligence Compliance Payments 52

Center for Payments

SEPTEMBER 15, 2022

The purpose of a Business Continuity Plan is to focus on a subset of operational risk factors, identifying, assessing, and reducing risk to an acceptable level through the development, implementation, and maintenance of a written, enterprise-wide business continuity plan.

FFIEC 40

FFIEC Risk Assessment Business Continuity Federal Reserve 40

PYMNTS

NOVEMBER 9, 2017

More than a third (36 percent) of survey respondents said fraud monitoring and risk mitigation are the areas in which CFOs are most falling short. That’s followed closely by performance risk management and strategic/operational risk management, each cited by 32 percent of survey respondents as areas in which CFOs fail to deliver.

Risk Management 43

Risk Management Risk Treasury AFP 43

FloQast

NOVEMBER 20, 2023

Importance of Internal Audit Risk Assessment The primary purpose of an internal audit risk assessment is to identify risks that could threaten an organization’s ability to meet its business objectives, whether they are financial, operational, or compliance-related.

Risk Assessment 52

Risk Assessment Audit Assessments Risk 52

Nanonets

FEBRUARY 21, 2024

Businesses are encouraged to familiarize themselves with the procedural steps of cash reconciliation, adopt best practices to enhance accuracy, and consider the benefits of automating the process to mitigate risks associated with manual reconciliation.

Reconciliation 52

Reconciliation Best Practices Point-of-Sale (POS) Automation 52

PYMNTS

JULY 19, 2018

We can’t stranglehold innovation by putting all sorts of different rules and risk mitigation platforms in place.”. The assessment phase demands that standardized procedures be put in place for management and reporting purposes. Embracing a Multidisciplinary Approach. Identification means cataloging third-party relationships.

Risk 42

Risk FinTech Risk Management Privacy 42

Nanonets

MARCH 12, 2024

Risk Mitigation: Compliance Risk: Reduces the likelihood of non-compliance with industry and geographical financial reporting standards. Financial Risk: Minimizes errors in financial reporting, thereby avoiding potential fines, legal consequences, and reputational damage.

Process 52

Process Finance Reconciliation Compliance 52

FloQast

DECEMBER 13, 2023

SOX controls , also known as SOX 404 controls, are processes, policies, and procedures aimed to prevent and detect errors in a company’s financial reporting process. In the context of internal controls, risk assessment identifies and evaluates the risks that could prevent the company’s internal controls from operating effectively.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

CB Insights

JULY 23, 2020

As a building’s first point of contact — and first line of defense — entrances and lobbies are poised for a revamp in policies and procedures when it comes to fighting the spread of Covid-19. By doing so, Tessian is able to mitigate the likelihood of sensitive or confidential data being sent to the wrong individual.

Posting 101

Posting Cybersecurity Returns Online and Mobile Banking 101