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Understanding Risk Management Strategies as a PayFac

Stax

In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks.

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Understanding Risk Management Strategies as a PayFac

Stax

As such, PayFacs need to equip themselves with an effective risk management strategy that helps them continuously monitor risks and employ appropriate risk responses if needed. TL;DR Four main types of risks come with payment facilitation: compliance risks, operational risks, transactional risks, and reputational risks.

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How Finance Departments Can Mold Risk Mitigation Into Opportunity

PYMNTS

The enterprise is exposed to financial risks at just about every angle, with expansion across borders and into partnerships with unfamiliar firms upping the ante on both risk and reward. Analysts are urging corporates to enhance their risk management strategies in today’s particularly volatile climate.

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Fusion Pulls Suppliers Into Its Corporate Risk Management Software

PYMNTS

Fusion Risk Management is expanding its corporate risk management software offering by integrating new functionality into the tool, the company said in a press release on Monday (Sept. The enhancement means third parties can more easily participate in a holistic risk mitigation strategy, Fusion noted.

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Resilience Launches New Cyber Risk Tools to Empower Clients to Improve Their Risk Mitigation

The Fintech Times

Charles Pruzinsky , head of underwriting and sales at Resilience, also commented: “Resilience is the only company that connects data science, threat intelligence, and comprehensive cyber insurance to empower our clients to prioritise and improve their risk mitigation investments and priorities.

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‘Critical’ That Businesses Improve Risk Mitigation and Security as AI Threat Increases, Says Lloyd’s

The Fintech Times

“Generative AI is not the first, and won’t be the last, disruptive technology to impact the cyber threat landscape, so it is critical that businesses improve their risk mitigation, security and defence technologies, as well as seek appropriate risk transfer today, more than ever before.”

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Ncontracts Acquires Third Party Risk Management Company Venminder

Finovate

Ncontracts has acquired Venminder, a third-party risk management SaaS platform, to enhance its governance, risk, and compliance services. The acquisition will broaden Ncontracts’ expertise in third-party risk management and strengthen its position in both SaaS and knowledge-as-a-service markets.