Bank Automation

APRIL 12, 2024

based bank INB relies on third-party vendors to build most of its technology, then customizes it to meet the needs of INB its clients. “For Springfield, Ill.-based For our size, we need a good partner,” Chief Operating Officer Mark Donovan told Bank Automation News.

Third Party Vendors 72

Third Party Vendors Technology Automation AI 72

Bank Automation

JANUARY 17, 2024

In 2023, financial institutions continued to look to third-party vendors for innovative solutions to enhance their offerings. A December report by Scottdale, Ariz.-based based bank and fintech advisory company Cornerstone Advisors of Arizona said U.S.

Third Party Vendors 75

Third Party Vendors Transactions Advisors AI 75

Fintech News

FEBRUARY 21, 2024

MAS’ advisory outlines several key measures for FIs • Stay informed about quantum computing advancements and understand the cybersecurity risks they pose. • Ensure senior management and third-party vendors are aware of the quantum threats and the importance of transitioning to quantum security solutions. • Work with IT vendors to assess and (..)

Third Party Vendors 101

Third Party Vendors Cybersecurity Mitigation Encryption 101

Finovate

SEPTEMBER 4, 2024

.” Third party risk management is a hotter topic than ever in today’s banking and fintech landscape, especially as the number of banks hit with consent orders rises due to regulatory breaches and compliance issues.

Risk Management 59

Risk Management Risk Acquirers Due Diligence 59

Innovative Payments Association

SEPTEMBER 5, 2024

In today's interconnected business landscape, companies often rely on third-party vendors, suppliers, and partners to help them operate efficiently and effectively. While these relationships can bring numerous benefits, they also come with inherent risks.

Boot Camp 52

Boot Camp Due Diligence Third Party Vendors Compliance 52

Fintech Finance

MARCH 5, 2024

Spencer Hanlon, Global Head of Travel Payments at Nium, said: “For too long, the travel industry has retrofitted outdated payment methods to its unique ecosystem of travellers, tourism suppliers, and third-party vendors.

Cross-Border Payments 52

Cross-Border Payments Cross-Border Third Party Vendors Payments 52

FICO

AUGUST 4, 2020

This information is used to train a machine learning model that produces a risk score that forecasts the likelihood of a future breach event for a given company or its third-party vendors.

Risk 52

Risk Third Party Vendors Risk Assessment Security 52

The Fintech Times

JUNE 7, 2024

The copilot plug-in is system-agnostic, acting as one central copilot that can be used on top of all web-based enterprise applications, pulling data from any system including Customer Relationship Management (CRM) systems, case management systems, third-party vendors, and Excel documents.

Financial Crimes 62

Financial Crimes Crime AI Third Party Vendors 62

PYMNTS

FEBRUARY 25, 2020

A new Walmart service will let third-party vendors hire the retailer to shelve, pack and ship items to customers in a move that could help Walmart compete better with eCommerce giant Amazon, CNBC reported.

Third Party Vendors 51

Third Party Vendors On-Demand Returns Process 51

PYMNTS

JANUARY 20, 2021

The EU announced formal antitrust probes into Amazon , questioning its responsibility to third-party vendors versus itself as a rival on the platform. Congress has also looked into accusations that Amazon abuses its position as an online platform. .

Third Party Vendors 78

Third Party Vendors Regulations Authorization Laws 78

The Paypers

FEBRUARY 22, 2021

has announced it was among the victims of a data breach involving a third-party vendor’s file-transfer service.

Data Breach 28

Data Breach Breach Third Party Vendors 28

PYMNTS

OCTOBER 7, 2020

The new integration is intended to make it easier for users of Work.com — whether employees of the organization subscribing to the Salesforce service or third-party vendors to whom a subscriber wants to provide access — to quickly log in once and then work with various tools.

Third Party Vendors 109

Third Party Vendors On-Demand Security Continuity 109

PYMNTS

JULY 3, 2019

The judge said Amazon might be liable because the company’s business model “enables third-party vendors to conceal themselves from the customer, leaving customers injured by defective products with no direct recourse to the third-party vendor.”.

Third Party Vendors 44

Third Party Vendors Product Rules Laws 44

PYMNTS

NOVEMBER 10, 2020

At issue is Amazon’s parallel responsibility to third-party vendors as an eCommerce ecosystem, and to itself as a rival on the platform with competing merchandise, the sources told FT. .

Federal Trade Commission 74

Federal Trade Commission Third Party Vendors Compliance Settlement 74

Global Fintech & Digital Assets

DECEMBER 21, 2023

Third-Party Risk Banks furnishing BNPL loans may not have direct control over the activities of third-party vendors or merchants.

OCC 59

OCC BNPL Electronic Fund Transfer Act (EFTA) Federal Trade Commission 59

The Paypers

DECEMBER 5, 2018

(The Paypers) Feedzai has released Risk Ledger, a financial crime prevention tool that uses federated data from Feedzai’s diverse customer base and third-party vendors.

Financial Crimes 28

Financial Crimes Crime Third Party Vendors Risk 28

PYMNTS

SEPTEMBER 19, 2019

“In the digital age, the only players that will maintain client contact are those who can offer the best products, even if they are provided by third-party vendors.” ” Deutsche Bank joins almost 100 financial institutions from 18 countries using the Deposit Solutions platform.

Third Party Vendors 75

Third Party Vendors FinTech Product Acquirers 75

PYMNTS

FEBRUARY 28, 2019

which suffered a data breach last year as the result of a cybersecurity incident at a third-party vendor. T-Mobile ‘s breach in 2015 that compromised the data of 15 million customers was the result of a third-party security lapse, too. Such cases have been reported at Ticketmaster U.K.

Risk 65

Risk Data Breach Third Party Vendors Cybersecurity 65

Neopay

OCTOBER 15, 2024

Verification reports from third-party vendors. For example, for a due diligence file, include: A copy of the application form or sign-up journey. Screenshots from your CRM showing key information. Copies of verification documents (passport, bank statement, etc.). Screening results.

Audit 59

Audit Compliance Assessments Financial Crimes 59

PYMNTS

JULY 12, 2017

Since its 2015 inception, Amazon has generated massive amounts of money by offering up discounts on its tech devices and third-party vendor’ products. It’s no secret that Amazon’s Prime Day has become a highly sought-after shopping day for consumers over the last few years.

Third Party Vendors 40

Third Party Vendors Product Consumer 40

PYMNTS

AUGUST 23, 2019

Mastercard said in a statement that the incident “has no connection to Mastercard’s payment transaction network … there was an event involving the Specials loyalty platform in Germany managed by a third-party vendor, which resulted in the unauthorized distribution of certain information.”. “We

Breach 61

Breach Visa Third Party Vendors Third-Party Service Provider 61

PYMNTS

APRIL 18, 2017

Said Hudson, smaller firms with smaller staffs and perhaps just a single dedicated cyber risk professional, or with one or two parties with significant oversight of payments processes, can be at greater risk for fraud. At a minimum, you need [cyber]insurance,” along with monitoring of third party vendors.

Cybersecurity 66

Cybersecurity Third Party Vendors Breach Regulations 66

PYMNTS

MAY 2, 2019

.” The company also recommends that businesses consider cyber insurance “and other forms of indemnification,” and explore the New York Department of Financial Services’ Cybersecurity Rules, specifically its third-party vendor cyber requirements.

Data Breach 55

Data Breach Third Party Vendors Breach Cybersecurity 55

PYMNTS

JULY 7, 2020

“But trying to develop backend solutions for supporting eCommerce workflows such as payment systems integrations, third-party fulfillment or re-marketing tools is not the best use of internal resources,” he said.

Third Party Vendors 84

Third Party Vendors Visa Rules Posting 84

Exact Payments

SEPTEMBER 13, 2023

Online Marketplaces The third major category of businesses that are becoming PayFacs is online marketplaces. Online marketplaces like Amazon and eBay are e-commerce platforms that sell goods and/or services from a wide range of third-party vendors.

Facilitators 52

Facilitators Payment APIs and Integration Third Party Vendors ISVS 52

The Fintech Times

JUNE 29, 2024

Ross Lancaster head of research at Acuiti “For firms that are not already operating under MIFID II, MiCA will present a significant operational lift to become compliant, and it is no surprise that we found that firms were looking to third-party vendors to assist them in their preparations,” says Ross Lancaster headof research at Acuiti.

Stablecoins 138

Stablecoins Regulations Compliance Cryptocurrency 138

PYMNTS

NOVEMBER 22, 2019

“Is it something that we can look at the governance structure at these third-party providers? The Bank Service Company Act gives financial regulators the power to audit third-party vendors that offer banking services, Ashton said. Can we look at their overall compliance management program?”.

Federal Reserve 46

Federal Reserve Fed Third Party Vendors Security 46

PYMNTS

APRIL 16, 2019

The Italian watchdog said in a press release that it is looking into allegations that Amazon only granted enhanced visibility on the website to third-party vendors using its logistics service.

Authorization 43

Authorization Third Party Vendors Regulations Governance 43

Finovate

OCTOBER 16, 2024

To keep up with availability requirements, banks can adopt automated processing systems, use cloud-based solutions to keep their operations scalable, and partner with third-party vendors who offer 24/7 payment support.

FedNow 59

FedNow Instant Payments Disputes Federal Reserve 59

PYMNTS

AUGUST 13, 2018

“Historic compromises have included small to medium-[sized] financial institutions [FIs], likely due to less robust implementation of cybersecurity controls, budgets or third-party vendor vulnerabilities.

FBI 58

FBI ATM Scams Third Party Vendors 58

PYMNTS

AUGUST 1, 2019

More than 50 percent of Amazon’s sales are from products offered by third-party vendors. . Both eBay and Amazon have a similar sales model, even though eBay used to be more known as an auction site. Lately, 90 percent of its goods are sold at a fixed price.

Third Party Vendors 43

Third Party Vendors Governance Government Accounts 43

PYMNTS

MARCH 20, 2019

The solution is able to assist clients through the resolution of any case, using an intuitive user interface that provides insights into the progress of agents and third-party vendors, as well as case communications from different devices.

Third Party Vendors 40

Third Party Vendors Process Accounts Consumer 40

The Fintech Times

JUNE 20, 2024

As organisations rely on third-party vendors for various services like cloud computing, payment processing or customer service, these external relationships can introduce vulnerabilities if proper oversight and due diligence aren’t conducted.

Risk 57

Risk Cybersecurity Data Breach Ransomware 57

PYMNTS

APRIL 10, 2017

New York rules for banks and insurers include stipulations that firms must scrutinize all third-party vendors that provide them goods and services. Vullo made the remarks to a task force of state insurance commissioners who are struggling with crafting cybersecurity regulations.

Cybersecurity 44

Cybersecurity Regulations Third Party Vendors Risk Assessment 44

FICO

JULY 23, 2020

I recently spoke with Chris Wallace, Director of Cyber Risk at T-Mobile , on how his team of professionals is managing the additional risk that fourth parties — companies that T-Mobile’s 30,000 existing third-party vendor partners may subcontract to — can introduce. . Identifying Critical Third-Party Connections.

Risk 52

Risk Third Party Vendors Assessments Risk Management 52

PYMNTS

NOVEMBER 6, 2019

Tech companies benefit by avoiding payment processing fees to third-party vendors whenever customers use their virtual accounts for payments, the report said, while JPMorgan benefits by being the sole payment processing and cash movement firm for tech companies that offer the eWallet to their customers.

eWallet 41

eWallet Third Party Vendors Accounts Non-Bank 41

PYMNTS

AUGUST 1, 2018

Regulators in China have reportedly launched an investigation into Pinduoduo following on the heels of media reports that third-party vendors are selling fake goods on the marketplace. According to a report in Reuters , the inquiry comes a few days after the startup raised $1.63 billion in what was China’s second largest U.S.

Third Party Vendors 40

Third Party Vendors Law Enforcement Laws Regulations 40