Abrigo

DECEMBER 13, 2023

Well-documented adjustments will please regulators. Testing process Calibrate your program with above-the-line/below-the-line testing One of the best ways to address dynamic and emerging risks is conducting above-the-line/below-the-line (ATL/BTL) testing to ensure your software operates at its peak efficiency.

Training 221

Training Fraud Software Regulation 221

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.,

Regulation 140

Regulation Google Operations Company 140

Abrigo

FEBRUARY 16, 2024

It's about ensuring that every aspect of your lending operation is optimized for efficiency and effectiveness. Whether it's at the start of a year or some other time, focusing on these key areas will help you fine-tune your operations and set your financial institution up for success in the year ahead.

Training 195

Training Risk Management Analysis Policies 195

Abrigo

MAY 8, 2024

WATCH Takeaway 1 Understanding generative AI and how peers are using AI and genAI helps financial institution leaders and management vet the technology and related risks. Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. Nevertheless, understanding the technology is crucial.

Examples 221

Examples Fraud Resources Risk Management 221

Perficient

FEBRUARY 29, 2024

Driven by technological advancements, regulatory changes, and shifting consumer preferences, the banking industry must evolve and respond accordingly. Operational Resiliency In an environment marked by heightened regulatory scrutiny and evolving customer expectations, operational resilience stands as a paramount concern for banks.

Trends 221

Trends Industry Analytics Compliance 221

PYMNTS

NOVEMBER 2, 2020

Here’s the latest news from Google and the technology industry, which is coming under increasing global scrutiny from regulatory watchdogs, consumers and organizations. Regulation. The Digital Markets Act is a second set of regulations. Pew Survey: 47 Pct Of Americans Believe Big Tech Should Face Greater Regulation.

Taxes 212

Taxes National Regulation Google 212

Abrigo

JUNE 10, 2020

The former Chief Operational Risk Officer was fined for insufficient action on AML program deficiencies and staffing issues. Adequately staffed and risk-focused AML resources with good documentation are critical. The regulators don’t care what your budget is,” Luttrell says. Ensure good documentation.

Resources 195

Resources Regulation Compliance Policies 195

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.

Video 211

Video Report Meeting United States 211

Abrigo

OCTOBER 14, 2022

Takeaway 3 Utilize regulatory guidance to understand regulators' expectations, which are likely to include consistent stress testing. They are having to outsource a lot and increase their operating expenses without any offsetting revenue and while dealing with supply chain issues.” Get to know regulator expectations and priorities.

Risk Management 195

Risk Management Management Policies Lending 195

PYMNTS

MAY 12, 2020

Traydstream , a FinTech that looks at trade documents with artificial intelligence (AI), has partnered with Infosys Finacle to implement blockchain technology and further automate trade finance, according to a press release. Consequently, our clients have experienced processing time reduction by nearly 75 percent.”.

blockchain 213

blockchain Compliance Regulation Fintech 213

BankUnderground

MAY 15, 2024

These models form the bedrock of revolutionary technologies like large language models (LLMs), opening up new ways for regulators, such as the Bank of England, to analyse text data for prudential supervision and regulation. Analysing text data forms a core part of regulators’ day-to-day work.

Training 68

Training Regulation Policies Data 68

PYMNTS

SEPTEMBER 4, 2020

A Kansas City payday loan company and its operator will be compelled to pay $132.5 The case began in 2015 with charges from the CFPB, according to court documents. Other court documents indicate the company was formed in 2007 and originated loans from May 2008 through December 2012.

Kansas City 170

Kansas City Kansas Regulation Company 170

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. In truth, though, technology can fall short. ” The Limitations Of Tech.

Compliance 164

Compliance Retail blockchain Regulation 164

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. On Tuesday (Sept. And speed is critical.

Regulation 100

Regulation Compliance Technology Payments 100

PYMNTS

JULY 23, 2019

China’s banking regulator is introducing stricter requirements on banks and insurance institutions that provide supply chain financial solutions in an effort to curb fraud, according to China Daily reports last week. Noah, however, claims that it had verified all documentation with JD.com. Regulators Step In.

Fraud 128

Fraud Regulation Report Management 128

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.

Lending 199

Lending Meeting Groups Regulation 199

PYMNTS

NOVEMBER 16, 2020

PwC has spun out its technology for proprietary intelligent data capture to help create a new business, LIKEZERO , focused on next-generation data capture, a press release says. The new development comes from a management buyout by Souter Investments , a private equity-focused family investment office, and Manfield Partners Limited.

Data 169

Data Regulation Risk Management Training 169

Perficient

MARCH 3, 2023

Once the business outcomes and pain points have been documented and prioritized and technology has been assessed, Perficient recommends that the next step be to determine what the inventory visibility capability should be. Perhaps regulators will want/need access to satisfy their inquiries. Who/What/When?

blockchain 275

blockchain Management Regulation Resources 275

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.

blockchain 166

blockchain Bitcoin cryptocurrency Analysis 166

PYMNTS

OCTOBER 8, 2020

The government of the Philippines is considering limiting the number of digital banks that operate in the country, Bloomberg News reported on Thursday (Oct. The consideration of potential limits is part of a policy review process that could produce new regulations governing digital banks by the end of the calendar year, the report noted.

Digital Banking 131

Digital Banking cryptocurrency Regulation Policies 131

PYMNTS

OCTOBER 4, 2020

Nonprofit Nacha , which enables Automated Clearing House ( ACH ) payments, has adopted eight new amendments to the Nacha Operating Rules that a press release said will help to modernize the payment style. One called Voice Payments: An Introduction and Overview was intended to give information about conversational payment technology.

Payments 283

Payments Resources Technology Fraud 283

PYMNTS

DECEMBER 10, 2020

the ability to send secure funds to 12 countries in Africa for a reduced fee, while Volante Technologies Inc. Volante Technologies Accelerates Market Convergence For Santiago Exchange. Volante Technologies Inc., In today’s top payments news around the world, Xoom is now offering clients in the U.S., Canada, Europe and U.K.

Payments 178

Payments Google Technology Taxes 178

Abrigo

AUGUST 7, 2023

Create a business continuity plan A business continuity plan is a document or procedure that details the necessary information an institution or organization needs to continue operating during an unplanned event. Spend time with each staff member to be fully able to document each task carefully.

Training 195

Training Fraud Leadership Resources 195

PYMNTS

JUNE 19, 2019

The activities are being coordinated by the San Francisco blockchain technology company known as Chronicled. Blockchain also is gaining traction in retail settings, as evidenced by the news that Target has got the technology in its sights. We know exactly in which block of ethereum the document with a given hash is published.

blockchain 164

blockchain San Francisco United States Industry 164

PYMNTS

JULY 26, 2020

Avanti Financial Group said in a press release that it has received permission from the Wyoming Division of Banking to begin operating in the state as a bank as early as October and plans to offer a real-time settlement solution for corporate treasurers. The new banking options are largely built around blockchain technologies.

Wyoming 153

Wyoming cryptocurrency Regulation blockchain 153

PYMNTS

OCTOBER 7, 2019

A new technology division is being launched at Germany’s Deutsche Bank to restructure systems for simplicity and efficiency, Reuters reported on Monday (Oct. billion for technology by 2022. billion for technology by 2022. The bank said in its staff memo that moving operations to a cloud-based platform would take time. . “We

United States 116

United States Technology Tools Strategy 116

Insights on Business

NOVEMBER 12, 2018

As these regulations are constantly evolving and changing, complicated legacy systems have been developed over time that became hugely expensive to manage, incompatible with one another, and, as massive number of fines continue to be imposed, are being rendered ineffectual.

Compliance 107

Compliance Technology User Experience Analytics 107

Abrigo

NOVEMBER 9, 2022

How has CECL implementation impacted their operations and reserves for credit losses? Some CECL consultants can provide financial institutions with the model and initial allowance calculation, including documentation of the decision and backtesting. CECL's impact on operations. Stay up to date on CECL best practices.

Survey 195

Survey Software Resources Meeting 195

PYMNTS

SEPTEMBER 20, 2018

Regulations are driving the trucking and logistics industry to adopt cutting-edge technologies. Paper documents are far from a conducive strategy to get all players in the trucking, transport and logistics space on the same page. Partnerships in the supply chain go far beyond a trucking company and its clients.

Industry 158

Industry Tools Regulation Management 158

Perficient

FEBRUARY 1, 2021

Fast Healthcare Interoperability Resources (FHIR) is a standard for exchanging electronic health records that is easier to implement as it uses current API technology. With regulations such as the CMS Final Rule , patient data such as the below needs to be available and shareable: Patient Record API. Provider Directory API.

Data 271

Data Resources System Management 271

Abrigo

DECEMBER 22, 2023

Takeaway 2 The top lending and credit blog posts focused on the benefits of banking technology, interest rate management, and developing risk ratings. If your financial institution is considering new banking technology, read this blog for decision-making tips. Reduce operating cost while ensuring loan policy consistency.

Lending 221

Lending Risk Management Community Management 221

Abrigo

DECEMBER 29, 2023

Aside from formal training, one way that banks and credit unions can ensure staff are attuned to the latest regulations and best practices is by routinely sharing lending and credit risk resources. Regular training of lending and credit risk staff helps keep processes and systems in shape to produce good loans. Stay up to date on CFPB 1071.

Resources 221

Resources Lending Risk Management Policies 221

CFPB Monitor

SEPTEMBER 24, 2020

The CSBS announcement explains that each exam will be led by one state overseeing a group of examiners sourced from across the country, and posits “…this exam protocol will enable states to fine tune a risk-based approach to each company’s operations.”

Regulation 60

Regulation Payments cryptocurrency Conference 60

Abrigo

DECEMBER 28, 2022

Abrigo, a leading technology provider of software solutions for financial institutions, published more than 85 unique articles on its industry-focused blog in 2022. Abrigo's most popular financial crime blogs over the last 12 months cover topics that continue to catch the attention of professionals and regulators.

Fraud 195

Fraud Training Compliance Regulation 195

PYMNTS

FEBRUARY 14, 2020

The challenges are illuminated in especially stark relief in developing economies where some of the most basic official documentation may be lacking. But, in an interview with Karen Webster, Zac Cohen, chief operating officer at Trulioo , cautioned against a “one-size-fits-all” approach to the digital identity space. The Micro Level.

How To 205

How To National Data Fraud 205

PYMNTS

JANUARY 3, 2017

regulators are apparently giving smaller banks a bit of a break when it comes to reporting requirements. Reports late last week said the Federal Reserve and other regulators will allow small banks that hold less than $1 billion in assets to file their required reports via more streamlined versions of those documents.

Regulation 128

Regulation Compliance Report National 128

PYMNTS

SEPTEMBER 24, 2020

This month’s Deep Dive explores the challenges that remittance service providers face when seeking to stay compliant, the impact this has on the availability of cross-border money transfer services and regulatory technology strategies to help reduce this friction. . Correspondent Banking .

Compliance 223

Compliance Tools Fraud Regulation 223