PYMNTS

AUGUST 2, 2019

Regulators’ influence over non-banks is limited, and banks are left to vet their own vendors. Bank regulations hadn’t “sufficiently modernized to accommodate cloud and other innovative technologies,” according to a U.S. One of the main issues being revisited is Facebook’s purchase of Instagram and WhatsApp.

Regulation 144

Regulation Virginia Google Capital 144

Abrigo

AUGUST 7, 2023

Assessing and preparing for staffing needs AML and fraud compliance is an essential obligation for financial institutions. By performing a thorough staffing assessment of your AML and fraud teams, you understand the resource needs to meet all quality and regulatory expectations.

Training 195

Training Fraud Leadership Resources 195

Insights on Business

MAY 6, 2019

Payment fraud detection has always had a bit more latitude than its counterparts in anti-money laundering, customer due diligence and even trade surveillance compliance. Unlike the latter areas, fraud prevention is an area not as heavily governed by regulations or specific rules of what a financial institution should or should not allow.

Fraud 102

Fraud Regulation Compliance Analytics 102

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. FIs in Fidor’s native Germany should by now be familiar with the standards set by GDPR, PSD2 and other regulations aimed at online banking.

Compliance 225

Compliance Regulation Guidelines Security 225

Insights on Business

NOVEMBER 22, 2017

The changes we see in the global payments landscape, driven by innovative technologies, are fundamentally changing the industry, but they come with a brand new set of challenges. On the other hand, technology capabilities are supporting increasingly complex, sophisticated and global fraud and cybercrime patterns. bn ($5.3Bn).

Fraud 125

Fraud Payments Innovation Industry 125

FICO

DECEMBER 18, 2019

In anticipation of a dramatic increase in CNP fraud, several years ago FICO implemented new machine learning technologies in the FICO® Falcon Fraud Platform to better catch fraud in this area. Current UK Fraud Trends. The differences in fraud rates between debit and credit spending are similarly stark.

Fraud 52

Fraud Trends Cards Maine 52

PYMNTS

FEBRUARY 7, 2020

The Strong Customer Authentication (SCA) regulations say a bank has to verify a person’s identity whenever they make a payment that totals 100 euros ($109.45). The main fear is that the new rules will have customers walking away instead of trying to pay. The new rules are meant to battle fraud and stop huge bills from being racked up.

Cards 204

Cards Regulation Digital Banking Maine 204

PYMNTS

JULY 13, 2020

Technology may have had a place in the real estate industry for some time, but its main purpose until now was in facilitating the consumer’s initial steps in the home buying process. Video technology-enabled and virtual home showings saw increased prevalence as stay-at-home orders were put in place.

Data 198

Data New York City New York Fraud 198

PYMNTS

SEPTEMBER 10, 2019

Businesses that fail to comply with anti-money laundering (AML) and know your customer (KYC) regulations risk major regulator fines and irreparable damage to customer relationships when something goes wrong. Companies therefore must either invest in teams of AML specialists or in fraud-fighting technologies. .

Security 185

Security Fintech Fraud Compliance 185

PYMNTS

FEBRUARY 26, 2019

Dimon called bitcoin a “ fraud ” during the apex of the crypto boom. The bank said it supported crypto as long as it was properly regulated. “We We have always believed in the potential of blockchain technology, and we are supportive of cryptocurrencies as long as they are properly controlled and regulated,” the bank said. “As

cryptocurrency 175

cryptocurrency blockchain Bitcoin Payments 175

PYMNTS

DECEMBER 8, 2020

Nonetheless, Many FIs are looking to simplify and secure their onboarding procedures while also enabling customers to stay safe during the pandemic, leading them to seek out innovative technologies to do so. Brazil-based facial recognition and identification technologies provider Acesso Digital recently reported that more than 5.2

Video 211

Video Report Meeting United States 211

PYMNTS

APRIL 17, 2019

For its part, TransUnion will be able to boost its existing IDVision with iovation suite of products through the integration of Payfone’s Trust Platform and Trust Score, which enables businesses to instantly verify customers, while fighting off fraud and cyberattacks in real time. Payfone serves six of the top 10 U.S.

Fraud 116

Fraud Massachusetts Maine Lending 116

PYMNTS

SEPTEMBER 22, 2020

Consumers pivoting to online banking are also more concerned over the privacy and security of their data, especially as fraud volumes creep up —and financial regulators are taking notice. Around The Cloud Banking World. Banks are continuing their ongoing movement to the cloud even as data and security questions continue to grow.

Compliance 191

Compliance Digital Banking Security Online 191

PYMNTS

JULY 16, 2019

False positives — instances of potential but uncertain fraud — can significantly gum up the works when it comes to anti-money laundering (AML) efforts, leading to friction and massive manual review that can eat up costs and cut into profits. percent, believe AI systems are effective in reducing fraud, yet only 5.5 False Positives.

System 143

System Fraud Data Maine 143

PYMNTS

JUNE 16, 2020

He also recommended that the Financial Stability Oversight Council (FSOC) be charged with “the responsibility to create a framework for regulating cryptocurrencies and developing guidelines for strong protections against money laundering and cybersecurity threats to those marketplaces.”.

US 227

US Cyber Security Security National 227

PYMNTS

DECEMBER 7, 2018

Not to ruin your holiday spirit, but let’s start this story with the cold and brutal truth: One of the largest risks that payments and commerce operators face in 2019 is being called to account by government officials, regulators or media about a failure to secure their organizations from cyberattacks. and other places.

Payments 240

Payments Tools Security Regulation 240

Abrigo

JUNE 18, 2020

Proactive outreach, reimagining the purpose of the branch, and evaluating business lending technology will be critical for PPP lenders and non-PPP lenders post-pandemic. From a profitability perspective, the main attraction to issuing PPP loans is the processing fee the SBA issues to the lender. BSA Rules and Regulation.

Lending 195

Lending Strategy Resources Community 195

PYMNTS

JUNE 10, 2016

In the latest installment of PYMNTS’ Commanders In Chief series, Ted Waz, CEO of DaVincian Healthcare , explains the critical role payments and mobile technology can play in not only fostering financial inclusion, but in connecting the underserved to health care providers around the globe. TW: Within health care in the U.S.,

Technology 100

Technology Mobile Community Payments 100

PYMNTS

MAY 22, 2017

That depends, says counterterrorism and cybersecurity expert Richard Clarke, on what companies, banks and regulators are willing to learn from the incident. He noted the standards recommended by FIDO Alliance (Fast IDentity Online), a consortium of several major financial institutions and technology companies.

Regulation 116

Regulation National Online System 116

PYMNTS

DECEMBER 12, 2018

Right now, though, we are talking about fraud, and how criminals use online data sites to steal from consumers in search of romance or, at least, some temporary companionship. Global fraud related to online dating scams costs “several billion dollars a year,” Hochrieser said, “and it’s growing every year.”. The solution?

Online 159

Online Fraud System New York 159

PYMNTS

APRIL 30, 2020

The COVID-19 pandemic has caused an impact on open banking developments worldwide as regulators, financial institutions (FIs) and businesses set their sights on helping their current customers rather than future innovations. where regulators have been workshopping potential rules for several years. Seventy percent of U.S.

Regulation 188

Regulation Regional Data United States 188

Accenture

FEBRUARY 28, 2017

The payments landscape is changing fast due to new disruptive technologies such as open APIs, distributed ledger technology, cloud, Apple/Samsung/…Pay, and customers’ expectations are changing for seamless and faster payments. Distributed Ledger Technology. Real-time Payments Interbank Infrastructure.

Payments 150

Payments Bitcoin Samsung Fraud 150

Accenture

FEBRUARY 28, 2017

The payments landscape is changing fast due to new disruptive technologies such as open APIs, distributed ledger technology, cloud, Apple/Samsung/…Pay, and customers’ expectations are changing for seamless and faster payments. Distributed Ledger Technology. Real-time Payments Interbank Infrastructure.

Payments 150

Payments Bitcoin Samsung Fraud 150

PYMNTS

MARCH 12, 2019

Several banks, including Germany’s Deutsche Bank , are caught in the crossfire, with their own AML protections coming under scrutiny from German regulators. Tapping into Emerging Tech: How Wells Fargo is Fighting Fraud. To find out how banks are upgrading their security, take a look at the Tracker’s Deep Dive.

Digital Banking 209

Digital Banking Fraud United States Security 209

PYMNTS

OCTOBER 10, 2019

Consumers have noticed the rising levels of fraud in digital banking, and they are not pleased. Fraudsters are relying on technologies like artificial intelligence (AI) and machine learning (ML) to put ever-more-complex schemes to work like bot and automated attacks. Synchrony Financial Upgrades Its AML Strategy As Fraud Grows.

Fraud 126

Fraud Digital Banking Strategy Security 126

PYMNTS

SEPTEMBER 4, 2018

Or will cards with cutting-edge technology win more loyalty from shoppers? The main message he offered? Even if you consider technologies like mobile, you can see that the consumer is still paying with payment cards.”. Indeed, new payment regulations seem to be pushing payment cards toward the future.

Cards 110

Cards Payments United States Maine 110

PYMNTS

JANUARY 24, 2020

However, government bodies are unable to innovate at the same breakneck pace as retailers or other consumer service industries, as they must adhere to complex regulations, and ensure that their software is not leaving partners behind. Fraud Issues Stemming From Paper Check Use. Check fraud affected 70 percent of U.S.

Payments 130

Payments US Fraud Innovation 130

CFPB Monitor

JULY 6, 2021

The Priorities have been much-anticipated because, under the AML Act, regulators will review and examine financial institutions in part according to how their AML/CFT compliance programs incorporate and further the Priorities, “as appropriate.”. A prime example of this problem is the inclusion of “fraud” as a Priority.

United States 78

United States Fraud Regulation Compliance 78

Independent Banker

JANUARY 31, 2022

With consumer expectations seeming to evolve faster every year, community banks could consider partnering with a fintech to keep up with technological innovation. He points out that the technology enabling mobile wallets is extremely complicated, making it “next to impossible for a bank to develop these wallets internally.” Quick Stat.

Community Bank 159

Community Bank Community Fintech Risk Management 159

PYMNTS

MARCH 14, 2019

Facebook is the subject of a criminal investigation by federal prosecutors over the data deals it inked with some of the biggest technology companies, reported The New York Times. It’s not clear when the investigation kicked off and what the main focus of it is. The grand jury investigation is being handled by the U.S.

New York 122

New York Data social media California 122

PYMNTS

MARCH 7, 2019

Merchants and customers are now transacting under PSD2 and GDPR in the European Union (EU) — regulations that allow a greater window into how customer data is being used. While these regulations are aimed at increasing consumer trust by allowing them more transparency, many consumers in the region are still adjusting.

Lending 198

Lending Regulation Regional Data 198

FICO

SEPTEMBER 18, 2018

It’s a harsh truth that while data and technology in the fraud business abound, true domain expertise is a scarce resource. Meet Andy Procter , one of FICO’s fraud specialists. Today we are excited to pick Andy’s brain on the hot topic of how to fight identity-based application fraud.

Fraud 51

Fraud How To Policies Strategy 51

William Mills

SEPTEMBER 15, 2016

As the influence of technology continues to transform the way financial services organizations conduct business, BAI merged these two conferences into one innovative and immersive conference, which takes place on Oct. 28 – 31st at Chicago’s McCormick Place.

Maine 40

Maine Conference Industry Retail 40

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. That concern, in fact, serves as one of the main barriers that prevents financial institutions (FIs), payment service providers and other businesses from monetizing their customer data. Poorly Understood.

Data 170

Data Strategy Maine Compliance 170

Insights on Business

MAY 1, 2018

While the advances in Payments processing are clear, there still remains a number of areas where further education is necessary, additional trust and security is required, and advances made in payments technology are still needed. Regulation. Enter, the Payments Canada Summit. Topics include: AI. Biometrics. Blockchain. Compliance.

System 126

System Payments blockchain Fraud 126

Insights on Business

MARCH 26, 2018

At IBM Think, the premier business and technology conference, the main theme is “mankind + machine,” and during the Wednesday morning session with Ian Hurst and Sarah Diamond, IBM General Managers of Banking and Financial Markets, and Naresh Vyas, Royal Bank of Scotland Head of Solutions, that theme was on full display. Lastly, Ms.

User Experience 135

User Experience Compliance Maine Regulation 135

BankBazaar

JUNE 3, 2020

Since in India, regulations do not permit 100 per cent digital banks, neo banks partner with traditional banks to offer licensed services and pitch their offerings atop a traditional bank’s services. They also don’t come under RBI regulations. Also, the sponsor bank is the main custodian of all customer information.

Regulation 127

Regulation Cards Millennials Maine 127