Accenture

FEBRUARY 22, 2017

Following on from my previous blog introducing the new year in the Fintech Innovation programme, I wanted to turn the focus onto the emergence of RegTech—technologies that address the challenge and cost of regulatory compliance. Both are alumni of our FinTech Innovation Lab. There are hidden costs too.

Compliance 150

Compliance Regulation Innovation Fintech 150

PYMNTS

FEBRUARY 8, 2018

B2B payments are an instrumental component of global trade and of setting the stage for currencies to operate as global instruments of cross-border trade. Three unnamed sources told Reuters that Chinese officials are opening up its large-value payment system to operate 21 hours a day, with the ability to process payments overnight.

Innovation 111

Innovation Payments blockchain Analysis 111

BankBazaar

MAY 7, 2024

BankBazaar.com, India’s leading fintech co-branded Credit Card platform and online platform for free Credit Score, marks its third consecutive year of fast and sustainable growth, with an unaudited operating revenue of Rs.215 215 Crore Revenue appeared first on BankBazaar - The Definitive Word on Personal Finance. 215 Crore in FY24.

Branding 78

Branding Cards Fintech Leadership 78

Abrigo

MAY 8, 2024

Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. They can more easily consider how to harness genAI's power to enhance their operations, compliance, risk management, and member or customer experience. That’s equivalent to 9% to 15% of operating profits, the report notes.

Examples 221

Examples Fraud Resources Risk Management 221

PYMNTS

AUGUST 7, 2020

Growing numbers of FinTechs are also forcing banks to innovate or be left behind. They are definitely more agile. They’re definitely faster. And they have fewer rules and regulations to comply with, which keeps us on our toes.”. So, there’s definitely an opportunity and a threat at the same time.”.

Payments 301

Payments Fintech Innovation US 301

PYMNTS

JULY 11, 2017

The basis of innovation is not the desire to create something new or even the inspiration to do so. Innovation occurs where there is a problem and a person with the tools to solve it. Anyone can have a good idea,” Lowthers said; innovation is about what you do with it. PYMNTS: Where do you look for innovative ideas, and why?

Innovation 101

Innovation social media Security Leadership 101

PYMNTS

SEPTEMBER 29, 2020

What has shifted most during the pandemic are consumers’ views on the data privacy and online security standards attached to these digital transactions, Oren Paran , managing director for Israeli retail startup firm Retail Innovation Club , explained in an interview with PYMNTS. under the GDPR. Joining the Global Open Banking Push.

Payments 172

Payments Regulation Online Retail 172

PYMNTS

JANUARY 7, 2020

The financial center operates with its own legal, regulatory and tax infrastructure and traces its roots back to 2005. As reported by the Gulf Times , the Qatar Central Bank adopted new regulations in December that focus on combating money laundering and terrorist financing.

cryptocurrency 132

cryptocurrency Bitcoin blockchain Course 132

PYMNTS

SEPTEMBER 25, 2018

The report noted that there is no internationally agreed-upon definition of what that activity might be, but for the confines of the report, it includes “all credit activity facilitated by electronic [online] platforms that are not operated by commercial banks.” China was the largest market, yet volume has declined in recent periods.

Fintech 172

Fintech Lending United States Regulation 172

CFPB Monitor

FEBRUARY 2, 2021

Since the California Consumer Financial Protection Law (CCFPL) became effective on January 1, the state’s Department of Financial Protection and Innovation (DFPI) has wasted no time in asserting its expanded jurisdiction over consumer financial services providers. (The

CA 60

CA Company Innovation Regulation 60

PYMNTS

MAY 7, 2020

Kindred Group operates the online casino and sportsbook service Unibet. Kindred Group, which also supports gambling platforms in Europe and Australia, has been operating its Unibet brand in New Jersey and Pennsylvania for about a year. This definitely would be extremely good and also extremely safe for U.S. in the next year.

Online 142

Online New Jersey Pennsylvania Regulation 142

CFPB Monitor

FEBRUARY 20, 2019

The Advisory Panel was formed in 2017 to identify actionable steps for improving state licensing, regulation, and non-depository supervision and for supporting innovation in financial services. It has 33 fintech company members that engage with the CSBS Emerging Payments and Innovation Task Force and other state regulators.

Fintech 68

Fintech Conference Survey Regulation 68

PYMNTS

JUNE 23, 2016

Consumer-facing drones definitely had their moment in 2015 with a crush of them appearing in the sky flowing by hobbyists’ hands. However, commercial operators have largely been stymied by the lack of regulations governing who can and can’t fly – and what they can and can’t deliver by drones as well.

Regulation 102

Regulation Operations Policies Innovation 102

PYMNTS

OCTOBER 23, 2018

Open Banking regulations have gotten FinTech innovators’ brains churning over how to take advantage of the troves of data that traditional banks have typically kept locked away. With regulations like PSD2 and Open Banking emerging as ways to boost financial services competition, the bank-FinTech relationship has taken center stage.

Data 177

Data System Regulation Security 177

PYMNTS

SEPTEMBER 29, 2017

As banks look to pair with FinTechs to meet the treasury needs of their corporate customers, they’re also looking towards such innovators to integrate some of those same solutions in-house. Managing liquidity and credit risk are definitely of main concern to FIs. Staying Updated.

Fintech 141

Fintech Risk Management Compliance Management 141

PYMNTS

SEPTEMBER 20, 2018

Regulations are driving the trucking and logistics industry to adopt cutting-edge technologies. It’s another example of trucking and logistics regulation affecting accounts receivable and payable operations in the sector. “There’s definitely a market out there.

Industry 158

Industry Tools Regulation Management 158

PYMNTS

SEPTEMBER 20, 2018

Adobe announced it has entered into a definitive agreement to acquire software company Marketo for $4.75 Marketo delivers the leading B2B marketing engagement platform for the modern marketer, and there is no better home for Marketo to continue to rapidly innovate than Adobe.”. Until then, each company will operate independently.

CA 143

CA Customer Experience Leadership Software 143

PYMNTS

NOVEMBER 14, 2017

With Europe just weeks away from PSD2 coming into effect, banks across the region are gearing up to get on-board with one of the regulation’s main objectives: to promote open banking and stir up competition and innovation in the financial services market. the banks weren’t having it. ”

Fintech 164

Fintech Regulation Regional Data 164

PYMNTS

JULY 27, 2020

That a market is massive and emerging as a target for digitization, does not necessary mean it will be an easy target to pursue — a lesson learned the hard way by Facebook in June when regulators hit the pause button on its adding payment capabilities to WhatsApp in Brazil. This is definitely happening.

Mobile 153

Mobile America Regulation Regional 153

PYMNTS

NOVEMBER 12, 2019

And while the lesson is old, he said, and some of those same models are now the foundation of such great innovation, the moral of the story is relevant, even today. The industry has a real opportunity for continued innovation with the marketplace concept in this area.”. Regulations Matter. There are still two more to go.

Regulation 119

Regulation Innovation Lending Technology 119

PYMNTS

NOVEMBER 20, 2018

Another Road to Damascus moment — or, perhaps a series of moments, as so much innovation and creativity, contrary to popular conception, is incremental, not sudden — happened during his tenure at Western Union. How new does something have to be for it to qualify as innovation? Innovation in the industry is expected.

Payments 186

Payments Innovation Mobile Comparison 186

PYMNTS

FEBRUARY 21, 2018

Singapore stepped onto the global stage as a world leader in blockchain innovation in recent months. Financial regulators may want to begin looking at not only regulating blockchain, but how blockchain can help in their own regulatory efforts — in this case, to ensure proper safeguards and controls in the banking sector.

blockchain 130

blockchain Los Angeles Regulation Oregon 130

PYMNTS

MAY 6, 2019

Some things are easy to identify as more or less mature at the moment, though, and there are definitely phases in development that can be identified. Yet, healthcare is also an intensely regulated space, which means there are many challenges in how to move, store and secure data that — by statute — must remain private.

Regulation 198

Regulation Data Examples New York 198

CFPB Monitor

FEBRUARY 22, 2016

The CFPB has issued a final policy statement on issuing “no-action” letters (NAL) for innovative financial products or services. The policy is part of “Project Catalyst,” the CFPB’s initiative launched in November 2012 for facilitating innovation in consumer-friendly financial products and services.

Policies 60

Policies Innovation Regulation Resources 60

South State Correspondent

JUNE 27, 2023

One major innovation is the ability to send an “information only” message to add more data to a transaction message. This allows an entirely new layer of transaction richness to take place and for banks to innovate on various products. This can result in significant cost savings and greater operational efficiency.

System 195

System Data Examples Payments 195

CFPB Monitor

NOVEMBER 11, 2019

On November 7, 2019, the George Mason University Antonin Scalia Law School hosted an event with Brian Johnson, the CFPB’s Deputy Director, to discuss the agency, its rulemaking process, innovation programs, and goals for the near future.

Meeting 60

Meeting Analysis Innovation Leadership 60

PYMNTS

JULY 18, 2018

Tongue in cheek as that sentiment may be, the EU fine levied over Android and dominance of that operating system has been a long time coming for Google. And now there’s a definitive amount, and it’s nothing to sneeze at: $5 billion (or about 4.3 The fine, finally. billion euros). The EU’s Orders.

Google 101

Google System Operations Mobile 101

PYMNTS

AUGUST 24, 2019

According to Zach Hensley, vice president of operations and guest experiences for the Seahawks and CenturyLink Field, these services are changing how fans experience live games and boosting their overall enjoyment. These teams are looking to mobile apps to innovate payments in a way that will revitalize purchases and the game experience.

Payments 161

Payments social media Mobile Seattle 161

PYMNTS

JULY 25, 2019

There’s definitely a benefit to having a global setup when it comes to fraud, because some of these fraud schemes are very elaborate, but… they [also] happen everywhere around the globe,” Kopp said in a recent interview with PYMNTS. operations. CEO for German-native, fully digital, mobile-first challenger bank N26.

Fraud 164

Fraud Marketing US Resources 164

PYMNTS

MAY 31, 2018

What may not be as familiar is its potential relevance to the regulations put in place by the European Union (EU), which forces its idea, from Brussels, of a perfect regulatory environment on the rest of the world. EU Regulators and a Backwards View of Who’s Being Harmed. How 28 Countries Ended Up Regulating the World.

Google 120

Google Regulation Data Innovation 120

PYMNTS

APRIL 25, 2019

This is especially true in areas like the European Union, where the General Data Protection Regulation ( GDPR ) is changing how customers and corporates approach data sharing. This is an area that will definitely change in the coming years as people become more confident paying for big-ticket items through mobile wallets.”.

Security 100

Security Data Regulation Mobile 100

PYMNTS

JANUARY 22, 2018

” Perhaps one of the biggest challenges for this space is that the exact definition of the middle market isn’t exactly clear. There are others who will state that the definition of mid-market can hinge on the segment of business that is being discussed.” “We are more than welcoming them.”

Management 116

Management Compliance Taxes Marketing 116

Insights on Business

JUNE 28, 2018

Banks operating on legacy architecture will find it increasingly difficult to compete in an API-driven business environment, says Hans Tesselaar, executive director at BIAN. The key difference with these topics, which both play into the open banking agenda, is that they enable banks to innovate with the systems they already have in place.

System 130

System Innovation Industry Technology 130

BankUnderground

AUGUST 31, 2022

While regulators cannot be sure what risks the next decade will feature, they can be sure that the set of issues will continuously evolve. In designing such frameworks, regulators must continue to adapt to tackle challenges, including resolving limited data availability to better monitor risks and identify systemic interconnections.

Policies 88

Policies Marketing System Regulation 88

Insights on Business

JANUARY 3, 2019

Simultaneously, regulators and auditors are issuing new cybersecurity regulations and guidelines. Regulatory compliance : Given these challenges, regulators from around the globe continue to act by issuing and amending guidelines on the usage of cloud and how to prevent and respond to cyber threats.

Risk Management 128

Risk Management Management Regulation Guidelines 128

PYMNTS

NOVEMBER 19, 2018

Despite the efforts of regulators, correspondent banking relationships continue to decline, according to the G20’s Financial Stability Board in a Reuters report late last week. There is a real need for modernization,” he said, pointing to iBanFirst’s participation in SWIFT’s global payments innovation (gpi) initiative.

Payments 186

Payments cryptocurrency Fintech blockchain 186

PYMNTS

OCTOBER 19, 2017

Many credit unions operate as member-owned organizations with a not-for-profit business model and are thus able to offer more personalized services than traditional banks. This means KTFCU has occasionally been forced to turn an interested customer away because of the definitions outlined in the credit union’s charter.

Innovation 108

Innovation Tennessee Resources Regulation 108