Bank Innovation

JANUARY 6, 2017

Professionals in the financial services industry are focusing their energy on regulation and data management, according to a survey from consulting firm and technology services provider Synechron.

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Accenture

SEPTEMBER 20, 2023

In this post, they explain how central banks can go about changing the way they use data and… The post Reviving the central bank: Getting (everyone) on the data train appeared first on Accenture Banking Blog.

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Perficient

MAY 15, 2023

of Americans are considered “fully banked,” many opportunities exist for financial services institutions to take advantage of the vast amount of customer data they possess. Here are three ways financial services institutions can reap the benefits of a data-driven mindset. market trend data, economic data, etc.)

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Accenture

JUNE 18, 2020

But they are also forcing central banks and regulators to rethink and restructure their approaches to becoming resilient, adopting new technologies, leveraging data and constructing an agile operating model, all while providing regulatory services. Hence, regulators need to step up to stay relevant in the digital economy.

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Accenture

MAY 21, 2020

Our first post identified five areas central banks should focus on to become the digital regulators of tomorrow. Pillar 1: Harness the power of data Most central banks base their decisions on traditional information flows, yet these can suffer from a range of issues: much data….

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PYMNTS

DECEMBER 10, 2019

India has proposed new rules regarding how technology companies use data, and the proposal is similar to Europe’s GDPR regulation, according to a report by TechCrunch. The new rules would force companies to get consent from people before their data is collected, and before they could use personal data.

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PYMNTS

DECEMBER 19, 2018

securities regulator is having trouble with rating agencies because it doesn’t have the tools or specific knowledge it needs to analyze huge amounts of rating data, according to a report from Reuters. The SEC, when it first started collecting data, asked registered ratings firms to give them monthly data on ratings changes.

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PYMNTS

FEBRUARY 28, 2019

The New York State Department of Financial Services has requested information from Facebook regarding apps that were sending sensitive personal data to the site, according to a report by The Wall Street Journal. The regulator is stepping up an investigation after the report showed the apps sent data like body weight and menstrual cycles.

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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.

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PYMNTS

NOVEMBER 8, 2018

A campaign group has asked EU regulators to investigate several data brokers, credit rating agencies and adtech companies to see if they are breaching the General Data Protection Regulation (GDPR). As a result, the number of complaints filed with the U.K.

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Chris Skinner

SEPTEMBER 14, 2017

Following on from the discussions about identity on Monday, it gets interesting to think about the customers’ data and who owns it, especially in light of the Payment Services Directive 2, PSD2 for short, which comes into force at the start of next year. The regulation forces banks to open … The post Who owns the customers’ data?

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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.

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PYMNTS

MARCH 27, 2020

While the advancement of open banking regulations may be seeing a small skip due to the spread of the coronavirus , many countries saw business and typical banking operations halted right after deciding upon new online privacy rules. Around The Data Protection And Security World. The virus is sweeping through the U.S.

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PYMNTS

OCTOBER 16, 2019

The CEO of Foursquare , a location data company, wrote an op-ed piece in the New York Times Wednesday (Oct. 16), saying, “It’s time for Congress to regulate the industry.”. There are no formal rules for what is ethical — or even legal — in the location data business,” Jeff Glueck wrote. “We

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Perficient

JULY 15, 2020

can leverage the Modern Data Platform approach. This Digital Transformation approach will help enterprises looking to re-platform, helping various Line of Businesses embark on the journey for Self Service Analytics, Modern fully managed Data Platform services etc. We then present a Functional, Capability and technical Matrix.

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PYMNTS

JULY 2, 2020

The PYMNTS Merchants Guide To Navigating Global Payments Regulations, done in collaboration with Ekata , examines rapidly changing developments in digital payments at a time when cybercrime — and identity scams particularly — are going hard on legitimate businesses. New Behaviors, Same Regulations. Contactless, Meet Compliance.

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Payments Source

MARCH 16, 2021

As the Consumer Financial Protection Bureau weighs rules on protecting customer information shared between banks and third parties, it should consider giving consumers full authority over their financial data and committing to direct oversight of everyone involved, including data aggregators and fintechs. ]].

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Abrigo

JULY 14, 2023

Practical advice for using data to develop and support institution goals Answering three questions ahead of strategic development discussions can ensure data drives your financial institution's efforts. Second, efficiently generating those insights from your data is a requirement for a sustainable process.

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Bank Innovation

DECEMBER 31, 2019

Although banks’ handling of consumer data is already covered by the federal Gramm-Leach-Bliley Act (GLBA), banks are scrambling to figure out what […].

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Data California Regulation Fintech 307

PYMNTS

SEPTEMBER 21, 2020

In a bit of high-tech saber-rattling, Facebook is threatening to pull the plug on its social media platform in the European Union if a controversial decision by Irish regulators is allowed to stand. according to Metro. government. government. That could prove to be “immensely complicated,” the Times reported, and likely highly expensive.

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PYMNTS

JULY 15, 2019

The Financial Action Task Force (FATF) recently released guidelines intended to increase the transparency of digital asset transactions, as regulators push for greater cryptocurrency oversight. All This, Today In Data. The Data: 2,917: Number of licensed marijuana businesses in Colorado.

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Regulation Colorado Data Guidelines 128

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.

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Bank Innovation

FEBRUARY 26, 2018

The Australia and New Zealand Banking Group (ANZ Banking Group) announced an investment in fintech startup Data Republic as the bank readies for new open-banking regulations from the government. The partnership will provide ANZ access to Sydney-based Data Republic’s platform, allowing the bank to use its data so.Read More.

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PYMNTS

SEPTEMBER 13, 2019

The European Union’s (EU) Antitrust Chief Margrethe Vestager said new rules may be imposed to ensure companies that collect data are not misusing it, according to a report by Reuters. Her comments could mean there will be new rules on the horizon to specifically cover how companies handle data.

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PYMNTS

DECEMBER 6, 2020

The proposed regulations from the Competition and Markets Authority (CMA) are expected within the next few weeks and are almost certain to guide the actions of a newly announced government digital watchdog, FT reported. FT quoted an unnamed government spokesman saying of upcoming new regulations: "We are committed to making the U.K.

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PYMNTS

NOVEMBER 25, 2020

The age of digital currencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. Regulators and lawmakers, however, can latch onto digital currency efforts as they must monitor and also supervise such stablecoins. In a paper that debuted Tuesday (Nov.

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PYMNTS

MARCH 22, 2019

With increased adoption, though, comes a need for improved regulations, and both the European Telecommunications Standards Institute (ETSI) and U.S. Congress have released rules to help regulate IoT data security. New IoT Security Bill Exposes Rising Concerns Over Data Protection and Safety. Meanwhile, U.K.-based

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Abrigo

FEBRUARY 14, 2023

What to know about the CFPB 1071 rule affecting small business loans This post provides answers to some frequently asked questions about data requirements and other changes likely from the new rule. Takeaway 3 Lenders will need to collect 20+ data points on each application from businesses with $5 million or less in gross annual revenue.

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PYMNTS

OCTOBER 16, 2019

The CEO of Foursquare , a location data company, wrote an op-ed piece in the New York Times Wednesday (Oct. 16), saying, “It’s time for Congress to regulate the industry.”. There are no formal rules for what is ethical — or even legal — in the location data business,” Jeff Glueck wrote. “We

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PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. The pandemic is dramatically altering how merchants can transact, which data they can store and where they can store it, however.

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PYMNTS

JANUARY 15, 2021

After having its $37 billion dual IPO pulled by Beijing, Jack Ma’s Ant Group is working fast to overhaul operations to comply with government regulations, The Wall Street Journal reported on Friday (Jan. Chinese financial regulators called Ma and his leadership team to answer questions on the eve of the company’s stock market debut.

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PYMNTS

NOVEMBER 27, 2018

and Dutch regulators on Tuesday (Nov. 27) for the data breach in 2016 that impacted millions of users. Meanwhile, the Dutch Data Protection Authority (DPA) fined Uber $678,780. The ICO noted in the statement that data on nearly 82,000 U.K. regulators. Uber was hit with a fine by U.K. Of those, 2.7 noted the report.

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PYMNTS

JANUARY 25, 2019

More than 70 nations are planning to restart World Trade Organization talks in an effort to create a standard set of rules to govern the sharing of eCommerce and cross-border data. In the meantime, China has wanted what the minister called “watered down rules” to maintain control over cross-border data flow.

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PYMNTS

NOVEMBER 26, 2019

Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment. For traditional banks, compliance experts agree that it’s all about data — and the ability to share information with regulators. Lithuania wants to become a global FinTech powerhouse.

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PYMNTS

NOVEMBER 27, 2020

Compliance with financial regulations market-to-market around the globe is increasingly automated yet relies on the same human emotion that undergirds all forms of exchange: trust. In other words, banks and financial institutions (FIs) have an obligation to make sure you are who you claim to be. Here again, trust is the heart of the matter.

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PYMNTS

DECEMBER 4, 2019

Federal banking regulators support using alternative methods to assess creditworthiness to help high-risk people get loans, The Wall Street Journal (WSJ) reported on Tuesday (Dec. Instead of using traditional credit scores, lenders can look at alternative data like borrowers’ cash flow.

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PYMNTS

OCTOBER 14, 2018

European Union lawmakers have proposed new regulations aimed at stopping an online marketplace such as Amazon from using data from merchants’ product sales to boost sales of their own branded products. She wants her committee to vote on the draft proposal on December 6, noted Reuters.

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