PYMNTS

SEPTEMBER 6, 2019

The sharing economy is a two-way street that operates on trust between suppliers and customers, and that trust is even more important for high-value exchanges like home shares. percent of sharing economy platforms require new users to verify their identities by submitting identification documents online. How Do Platforms Authenticate?

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PYMNTS

AUGUST 11, 2020

Ucommune , a Chinese rival of co-working space operator WeWork, scrapped a planned U.S. IPO via a document filed on Monday (Aug. Securities and Exchange Commission (SEC). The withdrawal comes days after President Donald Trump proposed new SEC regulations that would give U.S. 10) with the U.S. ”

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Cisco

JANUARY 24, 2023

The prior blogs in this series, listed at the bottom, have discussed the various regulations affecting CIOs and their IT organizations. The purpose of this blog is to discuss a few ways in which tooling and automation capabilities can be used to satisfy the asset management requirements of the FFIEC Operations Guide.

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PYMNTS

FEBRUARY 17, 2020

increased regulation over content delivered online through platforms may be on the horizon. This past week, Britain’s federal government said its media regulator, known as Ofcom, would be given new oversight to monitor and regulate material posted on the web by companies such as Facebook, Google and Twitter. In the U.K.,

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Regulation Google Operations Company 140

Cisco

MARCH 24, 2021

Throughout 2021, Cisco Financial Services will continue to examine how ‘Connect, Secure, and Automate’ – our strategy for helping customers accelerate their digital agility – enables financial institutions to deliver digital-first customer engagements that capitalize on a hybrid work operating model.

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South State Correspondent

MAY 30, 2024

Instead of just the revenue test, where most CPA firms focus, our approach targets the total or partial suspension of operations aspect of ERC eligibility. Our team has worked with approximately 55+ banks and secured over $82 million in credits. The average tax rebate is approximately $1.5

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Cisco

MAY 24, 2022

This week we welcome Marc Gilman , General Counsel and VP of Compliance at Theta Lake for a Q&A on a key topic for compliance, operational risk, and security leaders – ensuring that robust controls are in place for regulatory, cybersecurity, and privacy of collaboration platforms. All rights reserved.

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Perficient

JUNE 5, 2020

Secure software practices are at the heart of all system development; doubly so for highly regulated industries such as health-care providers. As a best-practice it is recommended to adopt automation of certain security audits, integration of compliance oversight into key development process areas (e.g. Source Code Analysis.

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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. The emergence of modern alternatives to traditional credit scoring signifies a broader movement toward financial inclusion.

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Trends Industry Analytics Compliance 221

PYMNTS

JUNE 5, 2020

Providing robust services via mobile channels is especially important now, as the COVID-19 pandemic has caused businesses to operate remotely and consumers to stay at home as much as possible. The need to secure open banking has only grown as financial criminals have stepped up to exploit disruptions caused by the COVID-19 pandemic, he added.

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Security Fintech Data Fraud 174

Abrigo

NOVEMBER 9, 2020

Sound loan administration software or systems will generate accurate, timely information in a secure environment. A smooth, effective loan administration process is like the defensive line against unnecessary loan losses, given that it impacts operations from the time a loan is approved until it is off the bank or credit union’s books.

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PYMNTS

DECEMBER 8, 2020

. Traditional bank account opening methods have long involved visits to branches and face-to-face meetings with officials in which physical identification documents are presented. Jumio said the offering can reduce operational costs by as much as 90 percent, eliminate in-person visits and paper costs, and simplify archival processes.

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PYMNTS

JANUARY 26, 2021

In other news, European FinTech SIA is partnering with WizKey to create a platform to allow credit negotiations on blockchain for banks, financial operators and funds, according to a press release. Diokno, Philippines’ Central Bank (BSP) governor in the release.

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blockchain Guidelines cryptocurrency Marketing 244

PYMNTS

DECEMBER 23, 2020

The road to mainstream acceptance of cryptocurrencies will still have its bumps, its potential roadblocks set in place from regulators. At the heart of it all might lie a jousting existential in nature — namely, between the companies that create and issue cryptos and the agencies that regulate them.

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cryptocurrency Security Bitcoin Regulation 234

PYMNTS

AUGUST 28, 2019

It’s hardly news that consumers (along with regulators and politicians) are becoming increasingly focused on privacy and online security. According to one estimate, “about 50 million internet-connected cars operate on U.S. According to the tracker, the global IoT security market is expected to increase by a 35.5

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PYMNTS

OCTOBER 17, 2019

In today’s payments news, China has allowed PayPal to operate in the country with its purchase of a majority stake in GoPay. China has allowed PayPal to operate in the country with its purchase of a majority stake in GoPay. Also, Mastercard has outlined its intentions with blockchain following its high-profile Libra Association exit.

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Operations blockchain Payments Apple 100

PYMNTS

SEPTEMBER 21, 2020

The Financial Crimes Enforcement Network ( FinCEN ) uncovered government documents on how giant financial institutions move trillions of dollars in suspicious transactions, padding their bottom line, while terrorists, drug dealers and corrupt politicians are allowed to run free.

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PYMNTS

JUNE 30, 2020

However, the internal document hints that the firm’s client base was significantly less sizable and the revenue from it much more uneven, per the report viewed by FT. The Commercial Affairs Department (CAD) of Singapore has been looking into the company’s Singapore operations for 16 months.

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PYMNTS

MARCH 29, 2019

Unfortunately, smoothly and securely connecting employers and freelancers from around the globe is no easy task. Gig work marketplaces must tackle these concerns on top of meeting various governments’ security and compliance regulations – and do so quickly, or they’ll turn their user base away. . Global Security .

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PYMNTS

SEPTEMBER 11, 2019

Nicolas Dinh , chief operating officer of year-old Canadian financial startup STACK , recently spoke with PYMNTS about the key forms of fraud that nascent mobile financial services firms face and how companies can leverage security technologies and partnerships to gain customers’ trust. Partnering With Established Players.

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Security Fraud Mobile Cards 113

PYMNTS

MAY 1, 2020

Financial institutions (FIs) and regulators in Singapore, the E.U. have passed laws or implemented programs over the past two years to put more focus on digital banking and data security, fundamentally changing how online transactions work. with ease, control and security.”. and the U.S. Similar to the U.K.

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PYMNTS

DECEMBER 5, 2018

The funding will be used to hire staff, “build out our infrastructure and secure the appropriate steps are taken to develop a regulated market for digital assets,” said ErisX Chief Executive Officer Thomas Chippas, according to Reuters. A new document shows that the U.S.

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blockchain Bitcoin cryptocurrency Analysis 166

PYMNTS

JUNE 18, 2018

Reports in the South China Morning Post on Friday (June 15) said WorldFirst is about to receive its license to operate in Shanghai, according to Shanghai Financial Services Office director Zheng Yang. According to Yang, WorldFirst has been asked to provide documents to support its previous application to operate in China.

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PYMNTS

DECEMBER 20, 2020

21) will file documents with securities regulators to allow a special purpose acquisition company (SPAC) it created previously to raise as much as $600 million through an initial public offering (IPO), Axios reported. SPACs themselves have no business operations. Softbank on Monday (Dec.

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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.

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PYMNTS

NOVEMBER 3, 2020

3), stock exchanges in Shanghai and Hong Kong have suspended the looming IPO (initial public offering) in Ant Group, citing regulatory changes in the financial services landscape — and summoning executives including controller Jack Ma to meet with Chinese regulators at the China Securities Regulatory Commission.

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Abrigo

JULY 19, 2021

Human smuggling activities also intersect with the financial system at many points during the operation, although the data is less clear since the crime is often undetected. Customs and Border Protection, between October 1, 2020 and May 31, 2021, their Office of Field Operations has seized $47,825,514. BSA Rules and Regulation.

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PYMNTS

AUGUST 3, 2020

The paper cited documents and “Italian legal sources” in its story about the organized crime syndicate ’Ndrangheta and CenturionBet, an online gaming company based in Malta. It is unclear whether the bank knew its services were being used to skirt anti-money laundering regulations, the paper reported.

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Regional Online Fintech Regulation 362

South State Correspondent

MAY 18, 2023

At this session, one of the rules was that you could not worry about constraints – You can’t mention budget, regulation, risk, or capabilities. Tate ingests currently approved documents and provides natural language answers to our employees. Poorly structured documents cause the bulk of generative AI inaccuracies.

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PYMNTS

SEPTEMBER 22, 2016

Know Your Customer regulations can mean corporations have to wait as long as three months — yes, months — to get onboarded to a new bank. According to Khosla, normally, banks in each jurisdiction would have to aggregate documents and information about their clients manually. ” Speed and regulation rarely go hand-in-hand.

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Abrigo

FEBRUARY 15, 2023

That means it’s essential to ensure that awareness of risk and coordination efforts to reduce risk are documented within your institution’s AML/CFT risk assessment. If your institution has additional mitigation procedures laid out in other documents, be sure to include those policies and procedures in your risk assessment.

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PYMNTS

FEBRUARY 7, 2019

Tightening regulations have introduced loftier compliance burdens to global supply chains, made even more complex and challenging as companies do business with thousands of vendors across borders. regulations, even if a vendor is not in the U.S. “We use technology as the basis for gathering, and for maintenance of, the documents.

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Compliance Retail blockchain Regulation 164

PYMNTS

JANUARY 30, 2018

In corporate finance, the tool could upend the status quo of supply chain management, cross-border payments, invoicing and document sharing and more. Because so many developers are deploying blockchain for the purpose of enhanced security, the executive added, “ensuring the technology is glitch-free is critical.”.

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blockchain Security Software Tools 144

Abrigo

NOVEMBER 22, 2021

Takeaway 1 Risk tied to consumer lending compliance has been elevated as a result of the pandemic and associated operating challenges. They also had to ensure adequate documentation of borrowers’ payments under any loan modifications or accommodations, as well as any changes to collateral values or advances on new or existing loans.

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Compliance Lending Risk Management Regulation 195

PYMNTS

SEPTEMBER 12, 2018

regulators turn down its plan to pay back customers who purchased auto insurance they didn’t need. In June, Wells Fargo submitted the plan to regulators as part of a $1 billion settlement it reached with the CFPB and the OCC. Reuters noted that there is no deadline for when the regulators need to sign off on the plan.

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PYMNTS

APRIL 19, 2019

Apple’s new offering, a biometric credit card, comes with security features that make fraud difficult for bad actors. That’s because the card features dynamically change security codes, making it nearly impossible for thieves to use stolen data effectively. Deep Dive: Keeping Online Gaming Age-Appropriate.

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Abrigo

JUNE 19, 2022

Takeaway 1 The ELE tool for CECL from the Fed is aimed at reducing the operational burden of implementation ahead of the 2023 deadline. . And while regulators said some institutions would find the ELE tool useful for CECL, they acknowledged it did not represent a preferred method of regulators or a “safe harbor” method for GAAP compliance.

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