Independent Banker

AUGUST 31, 2022

In today’s intense regulatory landscape, compliance extends to every aspect of banking, so much so that no one person or team can be solely charged with managing a bank’s compliance requirements. In fact, compliance has grown to become a massive responsibility that must be part of every employee’s job. My top three.

Compliance 177

Compliance Community Leadership Industry 177

Perficient

FEBRUARY 29, 2024

Banking institutions are responding by integrating advanced technologies, particularly artificial intelligence and data analytics, into their lending operations to enhance efficiency and adaptability. Explore and integrate alternative data sources and innovative scoring models to offer fairer assessments of creditworthiness.

Trends 221

Trends Industry Analytics Compliance 221

PYMNTS

SEPTEMBER 23, 2020

Banks in the EU have been racing to comply with the General Data Protection Regulation ( GDPR ) and the revised Payment Services Directive ( PSD2 ) since both measures were enacted in 2018. He explained that the cloud can help FIs swiftly respond to compliance and security challenges during the pandemic.

Compliance 225

Compliance Regulation Guidelines Security 225

PYMNTS

MARCH 27, 2019

While regulators had transparency and financial security in mind when introducing more stringent requirements for banks following the global financial crisis, financial institutions faced a sudden surge in the burden compliance. The Key To Compliance Is Data.

Compliance 116

Compliance Data Regulation Analytics 116

Abrigo

DECEMBER 5, 2023

AML Compliance Ten qualities of a successful BSA officer Hiring a Bank Secrecy Act (BSA) Officer for a financial institution involves looking for a unique experience level and skillset that ensures compliance with the BSA and related regulations.

Training 222

Training Compliance Regulation Software 222

Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. It involves using software to analyze both structured and unstructured data (i.e., email, text, audio data), with the aim of identifying fraud or anomalous transactions. Credit Decisions.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. That’s only if analysis of that data can be done correctly, however.

Compliance 191

Compliance Risk Management Training Analysis 191

PYMNTS

OCTOBER 6, 2020

Keeping customers' digital payment data safe and secure is a critical part of doing business in the digital economy, and following Payment Card Industry (PCI) compliance guidelines is an effective way for firms to accomplish this. Getting Up to Speed on Compliance. This can be particularly burdensome for smaller firms.

Compliance 178

Compliance Meeting Payments Cards 178

Perficient

DECEMBER 22, 2023

Positive Aspects of AI in Financial Services As noted by the OCC, advances in computing capacity, increased data availability, and improvements in analytical techniques, have significantly expanded opportunities for banks to leverage AI for risk management and operational purposes.

Risk Management 221

Risk Management Compliance Fraud Regulation 221

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech in banking and finance. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Using regtech in banking With new federal regulatory and compliance challenges like the CFPB rule on the horizon, more and more community financial institutions are exploring regtech for banks to enhance their processes. What is regtech?

Technology 195

Technology Fraud Compliance Regulation 195

PYMNTS

SEPTEMBER 24, 2020

Staying abreast of these various compliance shifts can be costly and challenging for banks, but doing so is necessary to ensure that financial institutions’ (FIs) operations can run smoothly and ward off cyberattacks. Compliance, Cybercrime And The Cloud . Answering The Data Question . EU and U.K. EU and U.K.

Compliance 151

Compliance Fraud Regulation Security 151

PYMNTS

DECEMBER 8, 2019

Firms like Google, Alibaba and Facebook could be forced to share data with banks and FinTech firms. Banks are required to share customer data with rival FinTech firms, and “this may need to be the case with Big Tech, too,” the FSB said in the report.

Regulation 131

Regulation Data Google Fintech 131

PYMNTS

NOVEMBER 9, 2020

Regulation. EU Gears Up To Propose New Big Tech Regulations. Australian Regulator Looks Into Merger Law Changes. Foreign companies operating in Turkey that reach more than 1 million people daily have been told about some of the rules they need to comply with,” Sayan said on social media.

Regulation 211

Regulation social media Compliance California 211

PYMNTS

SEPTEMBER 28, 2020

Regulations. Facebook Threatens EU Withdrawal Over Data Sovereignty. SocialMediaToday reported that in early September, an EU “privacy regulator … sent Facebook a preliminary order to suspend data transfers to the U.S. More Nevada Tax Breaks for Google Data Centers . about its EU users.”

Taxes 162

Taxes Compliance Illinois Las Vegas 162

PYMNTS

SEPTEMBER 25, 2019

Regulators the world over are beginning to take a closer look at the alternative and marketplace lending business model. Know Your Customer is another area of compliance friction for these companies, added Wales, as money laundering and terrorist financing become more significant threats to the borrowing and lending space. In the U.S.,

Compliance 117

Compliance Risk Management Lending Regulation 117

PYMNTS

SEPTEMBER 23, 2019

Financial crimes risk management software company Quantifind and Oracle Financial Services have teamed up to improve anti-money laundering (AML) compliance and to add intelligence and automation properties directly into the compliance workflows, according to a release.

Compliance 164

Compliance Software Risk Management Management 164

PYMNTS

FEBRUARY 5, 2020

As we know, mostly anonymous corporations have been collecting consumer data online for years, usually without explicit permission, selling it or using it for ad retargeting and personalization. Then, there are the huge data breaches that just keep happening, increasingly to companies with high levels of consumer trust.

Google 288

Google Data Regulation social media 288

Bobsguide

APRIL 12, 2018

Compliance with legislation is a basic condition for all businesses. However, few industries are as regulated as the financial sector. Since the financial crisis, the volume of regulations has grown exponentially, and market participants now find themselves operating in a minefield of various legal.

Compliance 119

Compliance Capital Data Fintech 119

PYMNTS

OCTOBER 7, 2020

As merchants accelerate their digitization roadmaps, the volume of data they’re able to work with increases. But data in payment transactions provides an often-untapped opportunity for merchants to optimize their payment operations and grow their businesses, Tony Wimmer , head of data analytics for J.P.

Data 258

Data Analytics Payments Operations 258

CFPB Monitor

NOVEMBER 11, 2021

The agencies explain that they believe the temporary flexibility is no longer needed “because servicers have had sufficient time to adjust their operations by, among other things, taking steps to work with consumers affected by the COVID-19 pandemic and developing more robust business continuity and remote work capabilities.”. forbearance.

Compliance 78

Compliance Regulation FDIC Meeting 78

Perficient

JUNE 1, 2023

We also enable clients to use Writer’s snippets to follow strict compliance regulations and efficiently include disclosures in their Sales and Marketing. Boost operational efficiency and rapid scalability by effortlessly generating new documents using existing data and content with the help of AI-powered document creation.

Compliance 251

Compliance Industry Regulation Data 251

PYMNTS

JULY 1, 2020

The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). Grappling with such increased demand with fewer resources might make it challenging for banks to satisfy at least some regulatory requirements, such as data privacy.

Compliance 166

Compliance National Fraud Operations 166

PYMNTS

JANUARY 25, 2019

With PSD2 in full swing in the European Union (EU), any merchant dealing with the payment data of EU citizens must upgrade their payment protocols to stay compliant. The Tracker also looks into how PSD2 could potentially serve as guidance for other countries that may be reevaluating their own rules on data privacy and payments.

Operations 195

Operations Regulation Data Trends 195

PYMNTS

OCTOBER 30, 2020

Slow compliance checks and sluggish processing times are commonplace, especially on the legacy systems still used by many banks around the world. Automating Compliance. Cash payments are quickly falling to the wayside, with only 26 percent of all U.S. consumer purchases made with cash.

Operations 228

Operations Payments Compliance System 228

Bank Innovation

JANUARY 17, 2019

regulators have taken a greater interest over the last year in technology startups promising to reinvent finance. Several financial-technology companies are looking to staff up in regulatory compliance, according to job posting data reviewed […].

Regulation 150

Regulation Fintech Compliance Financial Technology 150

Cisco

OCTOBER 4, 2022

It is an update to the 2004 Operations book, and links the different processes of Architecture, Infrastructure, and Operations (AIO) into a cohesive framework for auditors to assess. In this booklet the FFIEC discusses the principles and practices for IT and operations, as well as processes for addressing risk respective to IT systems.

Operations 118

Operations Software Risk Management Management 118

PYMNTS

APRIL 26, 2018

is only weeks away from bringing its Global Data Protection Regulation (GDPR) rules into effect, and corporates are ill-prepared for the data security requirements, according to new research. Seventy-one percent said they are aware noncompliance could be detrimental to their companies’ international operations.

Data 148

Data Compliance Survey Regulation 148

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. financial institutions (77 percent) for AML compliance.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

PYMNTS

SEPTEMBER 17, 2018

The problem is that certain technologies struggle to gain traction within fleet operations. “Fleets must focus on more sophisticated use of telematics features and data for competitive advantage,” Teletrac Navman stated in its announcement of the report.

Compliance 139

Compliance Industry Technology Data 139

PYMNTS

JULY 15, 2020

That’s bureaucratic code for “Regulators will be checking on ‘Know Your Patient’ (KYP) compliance in the near future.” Medical data theft is perhaps the ugliest kind. Medical records command a high value on the dark web and can be listed for 10 times more than the average credit card data breach record. They should.

Data 146

Data Compliance Regulation Meeting 146

Abrigo

DECEMBER 19, 2022

Checklists, guides, and more to help you and your AML-CFT staff Thousands of FinCrime professionals have accessed these guides, checklists, and other resources produced in 2022 by Abrigo's team, which includes former bankers, BSA officers, and regulators. . Would you like other articles like this in your inbox? From crypto to cannabis.

Resources 195

Resources Training Fraud Compliance 195

Abrigo

JANUARY 24, 2024

Takeaway 2 Successful acquisition of failed banks requires rapid comprehension of targeted loan portfolio data, core deposit value, potential deposit runoff, and more. The FDIC bid process is highly confidential and typically operates within a short window before the FDIC officially closes a bank and declares a successful acquirer.

FDIC 195

FDIC Regulation Strategy Data 195

PYMNTS

JUNE 9, 2020

The EU enacted open banking rules in 2018, inspiring regulators worldwide to reconsider how they were transacting funds or transmitting data. The COVID-19 pandemic’s impact on daily business has generated new questions surrounding these initiatives that regulators are now scrambling to answer. and the EU. Australia and Canada.

Regulation 132

Regulation Online California Regional 132

PYMNTS

NOVEMBER 9, 2016

Any organization, small or large, private or public, must handle the pressures of compliance. “It varies around where revenue is coming from, the requirements attached to that revenue and the scale of operations. . “It introduces a lot of complexities for managing both revenues and expenses for the organization.”

Compliance 174

Compliance Resources Data Management 174

PYMNTS

MARCH 8, 2019

It’s one of the main clichés of the early 21 st century, but that doesn’t mean it’s wrong: Data is the new oil. However, as is the case with any powerful, profitable substance (whether tangible or not), data can be dangerous if not used appropriately. The problem is fear of data monetization gone wrong (more about that in a bit).

Data 170

Data Strategy Maine Compliance 170

PYMNTS

JULY 17, 2019

According to Trisha Price, executive vice president of Product Development and Engineering at bank technology provider nCino , that reactive approach is rooted in one of the largest challenges today for banks and their lending operations. On top of that balancing act is the rising pressure of regulatory compliance, too.

Data 130

Data Management Analytics Compliance 130