Fintech News

JUNE 23, 2024

Singapore has released its updated Money Laundering (ML) National Risk Assessment (NRA) , highlighting increased risks in the digital payment token (DPT) services sector. The updated assessment highlights increased risks due to economic and geopolitical shifts, as well as the rise in technology-enabled transactions.

Money Laundering 107

Money Laundering Risk Crime Law Enforcement 107

Fintech Finance

OCTOBER 24, 2024

Set to go live in early 2025, this premiere payments solution will integrate Plaid’s instant account verification (IAV) and network-powered risk assessment capabilities into Dwolla’s pay by bank platform.

Risk Assessment 109

Risk Assessment Payment APIs and Integration Verification Assessments 109

Neopay

DECEMBER 20, 2023

1371) will introduce notable changes in the assessment of risks associated with Politically Exposed Persons (PEPs). In the case of customers identified as domestic PEPs or having close associations with domestic PEPs, the initial risk assessment will consider them to present a lower level of risk compared to non-domestic PEPs.

Risk Assessment 52

Risk Assessment Money Laundering Assessments Regulations 52

FICO

MARCH 8, 2021

eDriving SM , a leading global provider of digital driver risk management programs, has partnered with FICO to create scoring algorithms to capture driving behavior and develop a transformational predictor of a drivers’ risk level designed to help them reduce their risk of future collisions. Every year there are approximately 1.35

Risk 98

Risk Risk Assessment Assessments Risk Management 98

Finextra

NOVEMBER 7, 2024

Modern credit risk management now leans significantly on predictive modelling, moving far beyond tra.

Credit Risk 59

Credit Risk Risk Assessment Risk Assessments 59

Fintech News

APRIL 16, 2024

Generative artificial intelligence (AI), also known as gen AI, is expected to significantly impact risk management over the next five years, allowing financial institutions to automate tasks, accelerate processes and improve efficiencies. The tech can also draft model documentation and validation reports.

Risk Management 112

Risk Management AI Risk Use Case 112

Bank Automation

MARCH 18, 2024

This demand is driving a transformative shift towards leveraging Artificial Intelligence (AI) and automation to redefine credit and risk assessment strategies. In the dynamic world of financial services, the need for rapid and precise credit decisions has never been more crucial.

Credit Risk 83

Credit Risk Automation AI Risk 83

FICO

MARCH 25, 2020

Home Credit , a global non-bank consumer lender, has successfully reduced its credit risk while maintaining loan volumes and keeping approval rates steady by incorporating the FICO® Score X Data to optimize its loan process in China. This type of financial inclusion is good for the consumer and good for our business. by FICO.

Risk 97

Risk Financial Inclusion Point-of-Sale (POS) Risk Assessment 97

The Payments Association

NOVEMBER 25, 2024

De-risking endangers financial inclusion, driving MSBs out and boosting unregulated markets, calling for urgent reform. As professionals deeply embedded in the payments industry, we are acutely aware of the delicate balance between risk management and financial inclusion. The de-risking practices jeopardise these vital connections.

Risk 88

Risk Financial Crimes AML Financial Inclusion 88

VISTA InfoSec

OCTOBER 21, 2024

As financial institutions increasingly rely on digital infrastructure to enhance operations, customer experience, and security, they also face growing challenges in mitigating the risks that come with it, such as cyber threats, system failures, and other operational vulnerabilities.

Compliance 152

Compliance Third-Party Service Provider Risk Assessment Audit 152

PYMNTS

NOVEMBER 2, 2020

Bloomberg customers will now be able to use the news site's terminal to look at Credit Benchmark 's credit risk data, which comes from risk views of the world's largest financial institutions, according to a press release. They can also assess ongoing credit quality. The pandemic has created rifts of uncertainty in the markets.

Credit Risk 85

Credit Risk Risk Risk Management Assessments 85

The Paypers

JULY 24, 2024

Clearspeed , a provider of voice analytics technology for large-scale risk assessment, has partnered with Deloitte's US government and public services practice.

Risk Assessment 36

Risk Assessment Assessments Risk Governance 36

PYMNTS

APRIL 24, 2020

These circumstances have brought to the fore what has long been a central concern for lenders: assessing and managing credit risk. This vital task is complicated even in normal times due to the multitude of financial risk factors in play at any given time. percent reported using AI for underwriting and risk assessment purposes.

Credit Risk 100

Credit Risk Risk AI Underwriting 100

Finextra

MAY 28, 2024

It’s no surprise to see cybersecurity holding its position as one of the Financial Services (FS) sec.

Risk Assessment 59

Risk Assessment Assessments Risk Cybersecurity 59

Stax

JANUARY 8, 2024

However, several complex types of risks come along with this. 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. could also be classified as operational risks. Let’s get started.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

Stax

AUGUST 22, 2024

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.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Finextra

APRIL 23, 2024

Fintech Galaxy, a leader in Open Banking and financial innovation, has launched innovative credit profiling capabilities in collaboration with Singaporean fintech company FinbotsAI using artificial intelligence models and aggregated Open Banking data.

Risk Assessment 52

Risk Assessment Assessments FinTech Risk 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

PYMNTS

DECEMBER 9, 2020

Managing credit risk used to be a reactive process. Taking this retroactive approach to credit risk management was never efficient, but it has become even less feasible amid the pandemic. The practical applications for AI extend far beyond credit risk assessment and detection, however.

Credit Risk 98

Credit Risk AI Risk Fraud Detection 98

PYMNTS

NOVEMBER 3, 2020

Today in B2B, Bloomberg broadens its credit risk data pool, and two ERP solutions secure B2B payments integrations. Bloomberg To Incorporate Credit Risk Data. The release stated firms have more often been looking for data to validate their own internal counterparty and credit risk assessment. 2) announcement.

Credit Risk 88

Credit Risk B2B Risk ISO 20022 88

VISTA InfoSec

MARCH 6, 2024

Other Logs Review "periodically" based on the company's risk assessment Periodic review is still required but now explicitly mentioned in Requirement 10.4.2 Aligning periodic reviews with the organization’s risk profile. Risk Assessment Requires performing a risk assessment post-failure, to consider any further actions needed.

PCI DSS 130

PCI DSS Procedures Best Practices Risk Assessment 130

Fintech Review

MAY 7, 2024

Machine learning is particularly transformative in various fintech applications, such as personalised financial advice and risk assessment, marking a transformative shift in financial methodologies towards more advanced, data-driven approaches. It is essential to mitigate these risks to prevent potentially devastating impacts.

AI 98

AI FinTech Risk Assessment Fraud Detection 98

Clearly Payments

JANUARY 8, 2024

In the rapidly advancing world of payments and eCommerce, merchants find themselves navigating a landscape of risk in payment processing. While these technologies bring unparalleled convenience and global reach, they also introduce a plethora of risks that can impact the financial stability and reputation of businesses.

Risk Management 68

Risk Management Risk PCI DSS Process 68

Finezza

JANUARY 4, 2024

A combination of superior risk assessment, fraud detection capabilities, and quick and accurate underwriting turnaround can transform a lender’s success rate with borrowers and reduce non-performing assets. The revenue growth and profitability of a lending business depend on several factors.

Transactions 94

Transactions Fraud Detection Risk Assessment Underwriting 94

The Fintech Times

JULY 31, 2024

ZestyAI , a climate and property risk analytics solutions provider, is expanding its existing partnership with Amica Mutual Insurance , enabling the insurance firm to leverage ZestyAI’s full property and climate risk analytics platform. Stolte , assistant vice president at Amica. “Amica earned the top spot in the J.D.

Risk 59

Risk AI Risk Assessment Assessments 59

VISTA InfoSec

OCTOBER 21, 2024

The risk of cyber attacks for companies is increasing and can significantly disrupt their operations, have negative financial consequences and damage their reputation. This article explores the most common cyber security threats targeting SMEs, practical measures to mitigate risks, and essential steps to take in the event of an attack.

Security 130

Security Phishing Ransomware Risk Assessment 130

Fintech News

JUNE 12, 2024

This platform, Reinsurance-as-a-Service (RAAS), offers a fully digital customer experience, from onboarding and risk profiling to policy issuance. It integrates an advanced cyber risk exposure scanning solution into the underwriting process. ” said Ian Lim, Chief Executive Officer of Lexasure.

Risk Assessment 88

Risk Assessment Assessments Cybersecurity Underwriting 88

Open Bank Project Blog

NOVEMBER 27, 2024

“We are not pricing risks correctly.” This assertion kicked off the conversation, setting the tone for a critical roundtable discussion on the role of climate risk in financial markets and security pricing. Although awareness has grown, in many cases these risks are still difficult to predict without the right tools and data.

Risk 52

Risk Security Risk Assessment Assessments 52

Seon

JUNE 24, 2024

The rise of online transactions and evolving cybercrime tactics highlight the urgent need for strong identity risk management and monitoring. Identity theft presents significant challenges to businesses, making proactive risk mitigation essential for regulatory compliance, trust, asset protection, and operational integrity.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

FloQast

MAY 9, 2024

In the intricate dance of modern business, compliance programs serve as vital navigational guides, steering organizations through a labyrinth of regulations and risks. However, the path to compliance is fraught with challenges , including large upfront costs, organizational chaos, and reactive risk assessment processes.

Compliance 97

Compliance Audit Risk Assessment Assessments 97

The Fintech Times

MARCH 12, 2024

Among these, the insurance industry stands as a critical player uniquely positioned to drive sustainable initiatives and proactively manage climate-related risks. It allows insurance providers and their customers to assess the risks of today and help prepare them for those of the future.”

Mitigation 72

Mitigation Risk Underwriting Risk Assessment 72

Fintech News

JANUARY 25, 2024

ServiceNow Gen AI to help EY risk management The alliance with EY involves ServiceNow offering solutions in generative AI (Gen AI) for compliance, governance, and risk management. These collaborations mark another noteworthy step in the integration of advanced AI technologies in compliance and financial services.

AI 117

AI Disputes Risk Management Risk Assessment 117

Bank Automation

FEBRUARY 29, 2024

based company’s hardware can increase the accuracy in statistical modeling, speeding processes like trading activities and risk assessment by 15% to 20%, Annika Moslein, technical project manager at Quantum Dice, told Bank Automation News Feb. […] The Oxford, U.K.-based

Risk Assessment 78

Risk Assessment Assessments Automation Risk 78

Finovate

SEPTEMBER 4, 2024

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.

Risk Management 59

Risk Management Risk Acquirers Due Diligence 59

Fintech News

MARCH 31, 2024

This balance ensures the protection of legitimate customers’ interests while empowering FIs to effectively assess and mitigate risks associated with financial crimes.

Financial Crimes 105

Financial Crimes Crime Money Laundering Law Enforcement 105

The Payments Association

DECEMBER 11, 2024

By examining comprehensive online identities, organisations can create nuanced risk profiles beyond simple transactional data. Machine learning enhances this approach by processing vast datasets to identify subtle patterns and predict fraudulent activities, making real-time anomaly detection and risk assessment possible.

Fraud Prevention 88

Fraud Prevention Risk Assessment Payments Account Takeovers 88

Fintech News

JANUARY 16, 2024

Utilising advanced technology, Igloo’s Weather Index Insurance employs big data, real-time risk assessment, and automated claims management. This blockchain-based solution uses smart contracts to streamline claims processing.

Risk Assessment 119

Risk Assessment Database Blockchain Assessments 119