Fintech Review

JULY 2, 2024

This capability not only expedites compliance processes but also improves accuracy and reduces the risk of regulatory breaches. Financial institutions are increasingly adopting AI-driven solutions for real-time monitoring of transactions, identifying suspicious activities, and ensuring adherence to regulatory standards.

Compliance 98

Compliance Regulatory Compliance AI Interoperability 98

The Paypers

AUGUST 13, 2024

Cockroach Labs and PwC UK have announced a partnership aimed at mitigating the risks, costs, and complexities associated with regulatory compliance and mainframe modernisation.

Regulatory Compliance 36

Regulatory Compliance Mitigation Compliance Risk 36

Fintech Finance

SEPTEMBER 24, 2024

This verification process is crucial in mitigating fraud, preventing payment errors, and ensuring that funds are accurately directed to the intended recipients. The service provides a vital layer of security for financial transactions, helping to reduce the risk of fraudulent activity and accidental misdirection of payments.

Payee 98

Payee Verification IBAN Regulatory Compliance 98

The Fintech Times

AUGUST 10, 2024

Taishin Bank has partnered with OneDegree Global , a cybersecurity and risk management solutions company, to test and validate its artificial intelligence system, positioning itself as the first in Taiwan’s financial sector to establish a responsible AI framework.

Cybersecurity 119

Cybersecurity Compliance AI Privacy 119

Finovate

OCTOBER 14, 2024

The experts will delve into the transformative potential of AI, including Generative AI, in boosting overall productivity and maintaining regulatory compliance. Enhance operational efficiency: Discover how to leverage AI and automation to streamline operations, mitigate risks, and ensure compliance.

AI 52

AI Innovation Regulatory Compliance Compliance 52

The Finance Weekly

OCTOBER 15, 2023

This article can help CFOs see the exciting opportunities of Generative AI, while also understanding the risks involved. This improves forecasting and helps in , managing risks better , leading to better choices. Algorithmic Bias: Mitigate biases in AI algorithms to ensure fair decision-making in financial processes.

AI 52

AI Risk Automation Data Security 52

Fintech Review

JUNE 12, 2024

We explore the innovations in personalised insurance products, the role of IoT devices in data collection and risk assessment, and the challenges faced by established insurance companies integrating new technologies. Enhanced Risk Assessment IoT data provides insurers with a more accurate understanding of risk profiles.

Risk Assessment 96

Risk Assessment Regulatory Compliance Assessments Risk Management 96

Innovative Payments Association

AUGUST 29, 2024

Conduct a Risk Assessment Before building a compliance program, businesses should conduct a thorough risk assessment to identify potential compliance risks. This includes assessing the risk of money laundering, financial crime, and regulatory violations.

Cannabis Banking 52

Cannabis Banking Boot Camp Compliance Money Laundering 52

Agile Payments

JANUARY 9, 2020

The Payment Facilitator is responsible for regulatory compliance and has financial risk of their sub-users. Becoming a true Payment Facilitator is expensive, time consuming and requires staffing to meet compliance and risk mitigation demands.

Facilitators 100

Facilitators Risk Mitigation Regulatory Compliance Debit Card 100

Fintech Review

OCTOBER 1, 2024

These protocols are integral to combating financial crime and ensure regulatory compliance. These technologies enable financial institutions to analyse vast amounts of data quickly, detecting risks with greater efficiency. FI’s that fail to keep up with these changes risk significant fines and reputational damage.

AML 98

AML Verification Research Consumer 98

Fi911

FEBRUARY 29, 2024

The Importance of a VAR Sheet for Banks For banks, the VAR Sheet holds particular significance, offering a multitude of benefits: Risk Management: By detailing security measures and compliance protocols, the VAR sheet helps banks mitigate the risk of fraud and data breaches associated with payment processing.

VARS 68

VARS Payment APIs and Integration Regulatory Compliance Gateways 68

Neopay

MARCH 4, 2024

Therefore, prioritising compliance, risk management, and ethical conduct is essential to mitigate the risk of regulatory scrutiny.

Compliance 52

Compliance Mitigation Risk Mitigation Regulatory Compliance 52

VISTA InfoSec

FEBRUARY 13, 2024

In jurisdictions where regulatory compliance is stringent, such as in Singapore, audits are an indispensable part of the cybersecurity framework. By regularly conducting these tests, businesses can preemptively discover areas of exposure that cyber attackers could potentially exploit.

Cybersecurity 130

Cybersecurity Audit Best Practices Mitigation 130

The Fintech Times

APRIL 8, 2024

While BaaS solutions offer a lot of potential, many have concerns regarding the regulatory compliance of providers and the third parties that use them. To find out more about the regulatory hurdles the BaaS space possesses, we reached out to industry leaders and asked them which regulatory challenges fintechs should be most aware of.

FinTech 116

FinTech Regulatory Compliance BSA Money Laundering 116

VISTA InfoSec

AUGUST 22, 2023

As technology advances and the use of biometric data becomes more prevalent, it is crucial to address the privacy concerns and regulatory compliance associated with this sensitive data. Artificial Intelligence (AI) can also be utilized to ensure compliance and responsible handling of biometric data.

Privacy 130

Privacy Compliance Legal Best Practices 130

FICO

FEBRUARY 15, 2021

All Digital Transactions Monitored For High-risk Behaviour. Eurobank has managed to meet the new regulatory requirements for European directives AML4D & 5D, to check for money laundering across real-time processes, such as digital onboarding without a significant increase in false positives.

Money Laundering 52

Money Laundering Regulatory Compliance Correspondent Bank AML 52

VISTA InfoSec

JUNE 3, 2024

A GDPR-compliant password policy should enforce unique passwords for each account to mitigate the risk of credential stuffing attacks. Regular training sessions and awareness programs can help users understand the risks associated with poor password management and the benefits of adhering to the organization’s password policy.

MFA 130

MFA Credential PCI DSS Compliance 130

Fintech Finance

MAY 21, 2024

With the growing instances of online fraud, it’s essential for banks and financial institutions to mitigate potential risks, offer more accurate identity verification processes, shorten onboarding times, and improve customer experience.” and global watchlist hits and sanctions, and politically exposed persons (PEP).

UCC 52

UCC Payment APIs and Integration Due Diligence Verification 52

Neopay

AUGUST 5, 2024

Effective safeguarding training covers the policies, procedures, and regulations that must be adhered to in order to minimise risks and maintain compliance with regulatory standards. Understanding risk management is also a crucial part of the training.

Compliance 52

Compliance Procedures Audit Risk Management 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.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

FICO

JULY 31, 2019

As TPRM or third-party risk management grows in importance, so does cybersecurity risk assessment as part of it. The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management.

Risk 70

Risk Security Risk Assessment Risk Management 70

Fintech News

APRIL 28, 2024

By leveraging, advanced technologies such as cloud computing, AI/ML, biometric authentication, anomaly detection algorithms, and real-time monitoring systems, banks can enhance their fraud detection capabilities, identify suspicious patterns, and mitigate risks more effectively.

AI 109

AI Innovation Financial Crimes Crime 109

Fintech Finance

AUGUST 2, 2024

ComplyTek introduces an advanced transaction screening solution for instant payments , designed to ensure compliance and mitigate fraud within the critical 10-second processing window. CEO of ComplyTek, says: “ Effective transaction screening and monitoring cannot be separated from the overall risk scoring of customers.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

VISTA InfoSec

OCTOBER 20, 2023

Regulatory Compliance : Meets requirements like HIPAA that mandate disaster recovery plans. Financial Stability : Mitigates the financial impact of disasters, including costs from data breaches or loss of revenue. Data Protection : Safeguards sensitive data, preventing legal and financial issues.

Disaster Recovery 130

Disaster Recovery Regulatory Compliance Procedures Duplicate 130

Segpay

FEBRUARY 21, 2024

These tokens are generated for each transaction, reducing the risk of data breaches. Analyzing patterns and anomalies identifies potential risks associated with identity theft or fraudulent activities. This ensures that the KYC processes remain robust and aligned with regulatory compliance, a critical aspect for financial institutions.

AI 105

AI Innovation Fraud Detection Encryption 105

Fintech News

JULY 24, 2024

Additionally, human error remains a significant risk factor; as systems become more complex, the potential for misconfigurations or operational mistakes increases. This involves technological considerations, business alignment, and regulatory compliance.

Finance 115

Finance Risk Mitigation Automation AI 115

Segpay

APRIL 22, 2024

Network tokenization offers merchants a powerful tool to enhance payment security, reduce fraud risk, and provide a seamless and secure checkout experience for customers across various channels. Similarly, PSPs can offer their clients a secure payment solution that helps mitigate the risk of fraud, chargebacks, and costly data breaches.

Data Breach 52

Data Breach Risk Online and Mobile Banking PCI DSS 52

PYMNTS

JULY 17, 2019

Financial institutions are in a constant balancing act: open up access to capital for borrowers to promote economic growth and financial inclusion and mitigate against the risk exposure lending produces — sometimes with disastrous implications for the global economy.

Risk 52

Risk Compliance Risk Mitigation Mitigation 52

Seon

JUNE 20, 2024

As industry players brace for implementing these regulations, the focus remains on balancing regulatory compliance with operational efficiency. With this maturation comes new challenges, particularly in regulatory compliance and licensing across various markets.

Fraud Prevention 52

Fraud Prevention Regulatory Compliance AML Instant Payments 52

Nanonets

DECEMBER 13, 2023

In addition, AI can help insurance firms evaluate risk with high accuracy by analyzing large volumes of data. 1: Increased Accuracy and Reduced Errors AI in insurance claims processing plays a pivotal role in enhancing accuracy and reducing errors by automating various tasks and mitigating the risks associated with manual processes.

AI 102

AI Process Fraud Detection Compliance 102

Fintech Finance

JANUARY 30, 2024

“In developing the Fraud & Error Prevention Suite, AccessPay’s aim was to help businesses take a proactive approach to fraud and risk management,” states Anish Kapoor, CEO of AccessPay. This removes the need for finance teams to conduct checks off-platform by creating mock payments on banking portals to verify payee details.

Payee 52

Payee Money Laundering Non-Bank Checks 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. To verify ongoing compliance, banks need to implement vendor management practices to oversee the compliance efforts of their BaaS providers and mitigate risks on both sides.

Due Diligence 52

Due Diligence Privacy Compliance FDIC 52

Fintech Finance

FEBRUARY 29, 2024

The joint solution allows merchants and fintechs to accelerate time-to-revenue while ensuring regulatory compliance. Deepfakes, synthetic identities and account takeover fraud are growing threats that require advanced identity proofing and risk assessment.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

Fintech Finance

DECEMBER 19, 2023

With the fusion of Neonomics’ technical acumen and Ping Payments customer-centric payment solutions, the companies aim to provide a payment ecosystem that’s not only larger in scope but also exemplary in its adherence to user experience, security, and regulatory compliance.

Verification 52

Verification Regulatory Compliance Compliance Payments 52

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. Furthermore, financial crime controls have failed to keep pace with the rapid growth of these businesses.

AML 52

AML Financial Crimes Crime Risk Assessment 52

Nanonets

APRIL 29, 2024

Regulatory Compliance : Compliance with regulatory standards such as GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards) is non-negotiable for businesses. Risk Management : Accurate and timely reconciliation is critical for effective risk management.

Reconciliation 52

Reconciliation Payment APIs and Integration Regulatory Compliance Compliance 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 announcement comes on the heels of Jumio’s Sept. The financial terms of Jumio ’s acquisition of Beam’s AML platform were not disclosed.

Financial Crimes 61

Financial Crimes AML Crime Money Laundering 61