For Blockchain Adoption, FIs Have to Solve Compliance First
Bank Innovation
MAY 26, 2017
The next big thing in financial services won’t make it very far off the ground if FIs don’t innovate with an eye towards compliance.
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Bank Innovation
MAY 26, 2017
The next big thing in financial services won’t make it very far off the ground if FIs don’t innovate with an eye towards compliance.
Insights on Business
JULY 26, 2018
IBM RegTech Innovations. One of the best things about working at IBM—and in the RegTech field in particular—is meeting daily with the engineers and developers who are driving technological innovation in the financial industry. Consider, for example, the blockchain space. Figure 2: The Value Proposition of Blockchain for KYC.
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Bank Innovation
APRIL 27, 2018
EXCLUSIVE - Technology services provider Synechron launched a regtech program focused on helping its financial services clients on regulatory compliance issues. Although it is called an accelerator, the model of the program is based on Synechron's blockchain project (also called an […].
Perficient
FEBRUARY 22, 2023
In the banking industry, RPA is being used to automate a wide range of processes, from loan origination and account opening to back-office processes, such as compliance and accounting. Perficient will also bring insight surrounding the banking industry’s growing use of blockchain to the Summit.
PYMNTS
JULY 30, 2019
Blockchain-based payment system PumaPay has announced the launch of a new cryptobilling solution which has secured PCI (payment card industry) compliance. Lawmakers said that the reason for the exclusion was to prevent the disappearance of cryptocurrencies from the local economy and interfere with innovation.
PYMNTS
FEBRUARY 13, 2020
Wells Fargo Strategic Capital (WFSC) is backing the London-based blockchain analysis firm Elliptic with a $5 million investment, bringing the startup’s Series B round to $28 million, Elliptic announced in a press release on Thursday (Feb. WFSC joins existing investors SBI Group and Santander InnoVentures.
CFPB Monitor
MAY 31, 2022
On May 19, 2022, the Associate Director of the Enforcement and Compliance Division of the Financial Crimes Enforcement Network (“FinCEN”), Alessio Evangelista, spoke at the Chainalysis Links Conference in New York City on the topic of “The Intersection of Cryptocurrencies and National Security.” Responsible Innovation “.
Bank Innovation
MARCH 29, 2018
Blockchain technology has been talked about in banking for so long that readers here can be excused for being a bit jaded on the subject. The technology has been touted as solving just about every problem bankers face, but as Adam Ludwin, CEO of Chain, told us in San Francisco at Bank Innovation 2018 earlier.Read More.
Bank Innovation
SEPTEMBER 27, 2017
What is the state of banking innovation today? Fintech funding has grown tougher for startups, but banks’ balance sheets are looking stronger– what does it mean for innovation? Talk has shifted from last year’s discussions on blockchain and chatbots to artificial intelligence and cloud-based cores.
PYMNTS
NOVEMBER 19, 2020
This week’s round-up of the latest innovations in payment rails for B2B payments shows a key focus on real-time transactions and embrace of emerging, faster payment rails. Plus, blockchain makes new inroads in the B2B arena. TOMIA and Clear Embrace Blockchain for Telecom B2B Payments. Canada Taps Vocalink for Real-Time Rail.
Bank Innovation
FEBRUARY 15, 2018
EXCLUSIVE- Global technology company IBM is involved in more than 400 blockchain projects, according to its vice president of blockchain technologies, Gennaro “Jerry” Cuomo, who testified before Congress yesterday.
PYMNTS
SEPTEMBER 14, 2020
As for why it's using the unusual procurement method, the agency wrote in today's release: "The federal government struggles at times with identifying ways to test, purchase and deploy innovative technology solutions. The controls concerned vehicles already on the market and, as such, the entire compliance process needs to adjust now.
PYMNTS
SEPTEMBER 21, 2018
Switzerland is reportedly exploring ways to make it easier for blockchain companies to open corporate bank accounts as the government moves to prevent those innovators from leaving the country. Experts said blockchain innovators struggling to access the traditional financial services sector have been pushed out because of it.
Insights on Business
OCTOBER 3, 2018
IBM RegTech Innovations. Advances in artificial intelligence (AI), blockchain, and cybersecurity are poised to transform the financial services industries. New hybrid cloud platforms will offer unprecedented scalability, agility, and security, optimized for enterprise AI and blockchain.
Bank Innovation
APRIL 7, 2017
Blockchain Capital, the first venture capital firm to focus exclusively on DLT technology is offering digital tokens that represent a stake in the firm’s third fund. The tokens are held on the Ethereum blockchain […].
PYMNTS
JANUARY 18, 2019
Betting On Blockchain. For Inxeption, one of the most promising innovations to achieve this leap is blockchain. The company is also deploying blockchain to create a digital business identity for its users, a mechanism that Dibachi said will instill trust in the buyer-supplier relationship.
Bank Innovation
NOVEMBER 16, 2018
Innovation is expensive. And for banks, making sure regulatory and security compliance is met on each technology undertaking only makes those costs larger. But innovation is a must for banks, who are not only competing with fintechs like neobanks, PFMs, and payment companies, but also with the likes of Amazon, Google, and even Walmart.
Bank Innovation
NOVEMBER 16, 2018
Innovation is expensive. And for banks, making sure regulatory and security compliance is met on each technology undertaking only makes those costs larger. But innovation is a must for banks, who are not only competing with fintechs like neobanks, PFMs, and payment companies, but also with the likes of Amazon, Google, and even Walmart.
Bank Innovation
JUNE 27, 2018
Blockchain‘s future in banking is bright, but right now, the industry is not prepared to take advantage of what the technology offers, according to a new McKinsey report on blockchain’s viability across various industries.
PYMNTS
NOVEMBER 10, 2020
It is the rule of thumb, when it comes to secular change, that very few innovations come along to rapidly change the state of payments themselves. Longer term, in the drive to make crypto spendable, beyond the rails themselves, McCarthy said that compliance and security standards must be robust.
PYMNTS
DECEMBER 16, 2020
Meanwhile, banks in Malta are skeptical of jumping on the blockchain bandwagon, according to Cointelegraph. users to avoid running into potential compliance issues. It is very difficult to be AML-compliant in the United States,” Dmitri Laush, CEO of GetID , an identity verification provider, told Cointelegraph.
PYMNTS
DECEMBER 19, 2018
Blockchain has been steadily making inroads in the B2B realm as a way to help boost supply chain transparency and efficiencies. To that end, in South Korea, a number of government ministries are looking into blockchain, eyeing the potential boost distributed ledger technology can give to marine logistics.
PYMNTS
OCTOBER 17, 2018
Blockchain company DMG Blockchain Solutions is rolling out a new supply chain management solution designed for the legal cannabis market. “The emerging cannabis industry demands product management solutions and blockchain is the most logical choice,” said DMG CEO Dan Reitzik in a statement.
PYMNTS
MARCH 17, 2017
Blockchain technology has the potential to impact nearly every industry involving money. One area in which we’ve seen innovation break through recently may come as a surprise: insurance. PYMNTS: What are the benefits of implementing blockchain technology, and how is it impacting the insurance industry?
PYMNTS
MARCH 11, 2019
CULedger , a credit union, has inked a partnership with IBM to create blockchain services geared toward credit unions. According to a report in Fintech Futures , the idea behind the project is to use permission-based blockchain technology so credit unions can reach more members that don’t have access to financial services.
Bank Innovation
FEBRUARY 18, 2016
Bank Innovation is pleased to welcome Marley Gray, Microsoft’s director of technology strategy for blockchain and financial services, to our speaker faculty. Gray will discuss corporate banking and blockchains on March 1 in Seattle with JP Jolly of Citigroup and Deva Annamalai of Fiserv.
Bank Innovation
NOVEMBER 11, 2016
Blockchain is at a bit of a critical point, because it’s running up against the one universal enemy all new technologies have to face eventually: reality. In reality, how will banks use the blockchain? “To To do the real thing, it takes time, effort and expertise,” says Alex Wolff, head of Read More.
PYMNTS
MARCH 13, 2019
The Malta Financial Services Authority (MFSA) announced it is integrating CipherTrace ’s Compliance Monitoring product to “protect consumers, investors and business partners.” In other news, Overstock ‘s blockchain subsidiary, Medici Ventures , has acquired a 5.1 Ripple is providing all of the $100 million in funding.
Bank Innovation
SEPTEMBER 27, 2018
While legacy banks are establishing digital-only offerings alongside existing services, Mauro Casellini, Bank Frick’s head of blockchain and payment service providers, told Bank Innovation that […]. In the last year, the number of employees has increased from about 60 to more than 130.
PYMNTS
JUNE 5, 2018
The first baby born on the blockchain is expected to enter the world at a small clinic in rural Tanzania this week. What does that mean – to be born on the blockchain? AID:Tech uses digital identity and blockchain tech to create a new, more transparent way for governments, enterprises and NGOs to deliver digital entitlements.
PYMNTS
SEPTEMBER 6, 2017
Although many people equate blockchain technology with the banking and computer worlds, the technology is changing the food landscape as well. Companies like Walmart, Kroger and Nestle recently joined a partnership effort involving blockchain, signaling that the Internet of Things is making its way into Americans’ kitchens.
PYMNTS
FEBRUARY 14, 2018
Spending on blockchain technologies will ramp up to $9.2 Its latest Worldwide Semiannual Blockchain Spending Guide also calculated a compounded annual growth rate (CAGR) of blockchain spend of 81.2 2018 will be a crucial stage for enterprises as they make a huge leap from proof-of-concept projects to full blockchain deployments.
PYMNTS
MARCH 14, 2018
.” Oliver was discussing cryptocurrencies and blockchain on his show, highlighting the massive potential the world of FinTech has touted for the last year or so. This balance of optimism and realism is taking over the blockchain space as of late. But the segment also warned to temper the hype with healthy skepticism.
PYMNTS
JANUARY 29, 2020
Swiss company Overfuture has been approved to incorporate for an initial public offering (IPO) that offers tokenized shares on a blockchain, according to a report Wednesday (Jan. The prospectus said that the company is offering 8,399,000 “common equity share security tokens” on the ethereum blockchain. 29) by Coindesk.
Bank Innovation
NOVEMBER 28, 2016
will participate in a fireside chat at Bank Innovation 2017. Bank Innovation 2017, March 6-7 in San Jose, Calif., will feature dozens of speakers on investing in innovation, chatbots, blockchain and more. Adam Carson, managing director, global technology strategy & partnerships at JPMorgan Chase & Co.,
PYMNTS
OCTOBER 13, 2016
Regulation and compliance can be a tough space for many to wrap their heads around. Sunil Madhu , founder and CEO of Socure , joined Karen Webster to give context to some of the compliance concepts trending in the industry and also share his thoughts on what’s coming next down the regulatory pipeline. Compliance Decoded.
Bank Innovation
SEPTEMBER 14, 2018
Banks and fintech ranked artificial intelligence and machine learning as their top innovation priority, according to a Bank Innovation survey. Bank Innovation asked people in the banking and fintech community to list what’s top on their innovation wish list.
PYMNTS
JULY 2, 2018
Financial Reporting Council’s Financial Reporting Lab has released a new report on the potential applications of blockchain in the corporate accounting space. But the group also acknowledges that blockchain technology is not yet sufficiently developed to actualize its effect in the corporate finance space.
PYMNTS
JANUARY 15, 2018
It was only (relatively) recently that B2B payments finally secured significant attention and investment from innovators. It exemplifies the newly innovative nature of the B2B payments market, but Ernest Rolfson, Finexio CEO, says that doesn’t necessarily mean progress is guaranteed.
Insights on Business
FEBRUARY 21, 2019
Optimizing risk, compliance and security. These leaders are forming new partnerships—with fintech startups, financial service providers, and platform companies like Alibaba and Tencent — and exploring emerging technologies—such as AI, blockchain, and open banking—to help them develop a new transactional digital business fabric.
Bank Innovation
JUNE 3, 2019
Dominic Venturo, executive vice president and chief innovation officer at U.S. Bank, will participate in a fireside chat at Bank Innovation Build 2019, this blog’s event on best practices in banking innovation. Bank Innovation Build will take place November 6-7 at Atlanta’s W Hotel Downtown. Register here.)
Bank Innovation
MAY 1, 2019
Canada is making a big leap in modernizing identity verification, tapping blockchain technology to let consumers digitally prove who they are to securely access banking and other personal services. SecureKey Technologies Inc.’s s Verified.Me
Perficient
APRIL 20, 2023
blockchain, digital wallets, money center banks, emerging payment solutions, digital lending, economic turmoil, and fintech disintermediation). They want to have meaningful relationships with technology partners who will bring innovative ideas and proven experience to the table.
CB Insights
OCTOBER 29, 2020
This massive market, which includes a broad range of financial “plumbing” services, could be poised for a blockchain shake-up. Currently, complex processes are needed to ensure regulatory compliance and enable secure, trustworthy trades. Submit your application here before November 25. Please click to enlarge.
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