Cisco

JUNE 7, 2022

Those risks were associated with internal processes, behaviors, and systems within institutions which were determined to be contributing factors. It also put an even greater emphasis on cyber risk management within institutions and financial regulatory agencies. Nation-states will influence the financial services supply chain.

Risk Management 118

Risk Management Management Cyber Security Handbook 118

PYMNTS

DECEMBER 16, 2019

government affairs and public policy, said in a letter to the Fed that Google “worked closely” with the National Payments Corporation of India (NPCI) to build Google Pay for the Indian market. NPCI, the payment regulator governed by the Reserve Bank of India (RBI), launched real-time payments in 2016. billion now.

Google 144

Google System Payments Study 144

Abrigo

MAY 30, 2019

An institution needs a system that will adapt and withstand the changes associated with growth. Take Woodforest National Bank , for example. Consider your regulator’s feedback. Did he or she say it’s time to automate and/or move toward a more robust system? Consider your regulator’s feedback. Why not both?

System 150

System Software Regulation Report 150

Perficient

DECEMBER 27, 2023

Manage third-party risks, especially for relationships involving higher-risk or critical activities. . * * Note that the AML Act of 2020 requires the issuance of changes to the Customer Due Diligence and Beneficial Ownership Rule.

Compliance 221

Compliance FDIC Regulation Fraud 221

PYMNTS

JANUARY 7, 2019

In Ireland, reported CryptoGlobe , the Irish cabinet has approved legislation that will bring more regulation to the sector. Separately, in India, the action toward crypto regulation seems to be … inaction. The site noted that the new rules still await passage by the country’s legislative body.

Regulation 151

Regulation cryptocurrency National Capital 151

PYMNTS

JANUARY 12, 2021

-based digital payments firm, has increased its valuation to $15 billion following the closing of a Tiger Global Management-led $450 million Series C funding round. Pakistan Launches Payment System To Boost Financial Inclusion. Checkout.com, which was started in 2012, recently brought an office to New York City. and the World Bank.

Detroit 135

Detroit New York City System Payments 135

Abrigo

AUGUST 5, 2020

is officially in a recession, according to the National Bureau of Economic Research. Now, banks and credit unions must determine how to safely and effectively manage risk in the portfolio while also driving growth at their institution. The national effects remain opaque and will continue to change – do not get complacent.

Management 195

Management Risk Management Trends Industry 195

PYMNTS

FEBRUARY 16, 2017

According to Bloomberg , the Monetary Authority of Singapore published a new consultation paper that revealed new and existing venture capitalists will no longer be subject to the same rules that apply to fund managers overall, including capital requirements and business conduct regulations.

Regulation 183

Regulation Capital Fintech Innovation 183

Abrigo

FEBRUARY 6, 2024

Where to begin Develop a member business lending strategy Developing a sound MBL strategy, or tightening an existing one, can help credit unions achieve long-term success in managing member business lending risks. Credit risk rating system: Establish an FAS-compliant credit risk rating system that staff can understand and carry out.

Lending 221

Lending How To Risk Management Policies 221

South State Correspondent

APRIL 30, 2024

An inverted yield curve, continued bank failures, and the desire to manage risk and offer clients higher service are all factors that are driving more community banks to adopt a loan hedge program. More sophisticated entities can handle a higher ratio because they possess system and managerial sophistication to manage the risk.

Community Bank 195

Community Bank FDIC Community National 195

South State Correspondent

APRIL 30, 2024

An inverted yield curve, continued bank failures, and the desire to manage risk and offer clients higher service are all factors that are driving more community banks to adopt a loan hedge program. More sophisticated entities can handle a higher ratio because they possess system and managerial sophistication to manage the risk.

Community Bank 195

Community Bank FDIC Community National 195

CFPB Monitor

JULY 27, 2020

The OCC issued a letter last week stating that “a national bank [and a federal savings association] may provide. Through intermediated exchanges of payments, banks facilitate the flow of funds within our economy and serve important financial risk management and other financial needs of bank customers.

National 113

National cryptocurrency Risk Management Regulation 113

Abrigo

FEBRUARY 24, 2022

As described in the first post of this series , a key component of effective asset/liability management (ALM) is managing risks. ALM 101: Introduction to Asset/Liability Management. Takeaway 3 Two methods of measuring short-term interest rate risk are a gap analysis and, more commonly, an income simulation. Earnings at Risk.

Management 195

Management Analysis Strategy Policies 195

Cisco

JULY 12, 2022

As a key provider of technology for mission-critical financial system infrastructures across the globe, Cisco is held to the highest levels of scrutiny in the financial services regulatory audit chain. A key challenge is managing iterations of infrastructure in global financial enterprises which have spanned 50+ years of digitization.

Regulation 71

Regulation FDIC System Software 71

Abrigo

AUGUST 9, 2019

Banks and credit unions must learn about these upcoming changes, adjust for them, and meanwhile continue to operate their existing institutions and meet customers’ needs while following all of the regulations that come with being a financial institution. These two tracks will help financial institutions to manage risk and drive growth.

Management 150

Management Conference Lending Training 150

PYMNTS

JUNE 14, 2019

Particularly troubling is that more than 50 percent of sites use outdated Windows software to manage their industrial control systems, and 40 percent have unsecured, direct internet connections. The malware targets smart TVs and wireless presentation systems by exploiting their default credentials.

Regulation 161

Regulation Security Technology Survey 161

Perficient

AUGUST 16, 2020

If you’re part of an organization, there is a very good chance that you have some type of phone system that you use on a daily basis. However, you may not know that there are certain rules/regulations that must be accounted for so you can remain compliant with FCC regulations. RAY BUAM’S Act.

System 348

System Regulation Texas Compliance 348

PYMNTS

JANUARY 28, 2019

The report explores how companies in G20 nations are preparing for risks related to technological disruption, regulation and cybersecurity. “More must be done to ensure sufficient infrastructure and processes are in place to proactively manage business threats in 2019.”

Management 145

Management Risk Management Survey Security 145

PYMNTS

MAY 15, 2018

The Central Bureau of Investigation (CBI), India’s main investigative agency in the country, has filed charges in the Punjab National Bank fraud case against Nirav Modi, the jewelry retail owner, and his uncle Mehul Choksi, as well as senior executives at the state-run lender.

Fraud 100

Fraud National Maine System 100

PYMNTS

AUGUST 29, 2017

federal and state laws require financial institutions to set policies and procedures to detect and prevent illicit money transfers, including screening customers and reporting suspicious transactions to regulators. The Pakistan bank said it will “vigorously contest” the fine in U.S. That bank still has a New York branch.

New York 102

New York Regulation Compliance United States 102

Abrigo

NOVEMBER 2, 2021

On January 1, 2021, the Senate voted into law the National Defense Authorization Act (NDAA). The AMLA is extensive, and there are many steps involved before FinCEN can implement the act, such as conducting studies, writing regulations, and publishing guidance. With the 2021 change in administration in Washington, D.C.,

Compliance 195

Compliance Regulation Resources Policies 195

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? There are significant changes coming in Europe, which highlight getting a handle on responsible AI use, with the banking and financial services sector among those that will be most impacted by increasing regulation.

Regulation 52

Regulation America Compliance Fraud 52

Payments Source

AUGUST 4, 2019

Under the regulation, banks and financial services providers must secure their own systems as well as implement third-party risk management programs, which can mitigate insider threats from third parties, says Michael Magrath, director of global regulations and standards for OneSpan.

New York 67

New York National Capital Risk Management 67

PYMNTS

SEPTEMBER 16, 2019

16), Marcus wrote a Twitter thread called “About monetary sovereignty of Nations vs. Libra.”. Recently there’s been a lot of talk about how Libra could threaten the sovereignty of Nations when it comes to money. Money, he said, will “strictly remain the province of sovereign Nations.”. On Monday (Sept.

social media 156

social media National Regulation Payments 156

PYMNTS

OCTOBER 13, 2020

Across the globe, terrorists and criminals are leveraging cryptos in what is gearing up to be a significant national security threat to the United States. That’s according to the U.S. In the report from the U.S. The terrorist threat, in particular, represents what the report termed “the first raindrops of an oncoming storm.”

cryptocurrency 206

cryptocurrency United States social media Regulation 206

PYMNTS

APRIL 16, 2019

Among the most recent headlines, in Asia this past week, the Monetary Authority of Singapore (MAS) and the National Bank of Cambodia have signed a memorandum of understanding (MOU), that Business Times said will boost partnerships on FinTech and financial services innovation. The banks have also agreed to share data on emerging markets.

Fintech 211

Fintech San Francisco National Innovation 211

PYMNTS

DECEMBER 29, 2020

“Though the industry moved to enable interoperability of mobile wallets in 2018, this is limited to only P2P payments, and is yet to be expanded to both merchant and agent interoperability and even to work seamlessly at P2P,” according to the draft of the Kenya National Payments System 2021-2025 report. million new mobile users.

National 160

National Policies Mobile Payments 160

Abrigo

JULY 16, 2021

financial system. Takeaway 2 Regulations haven't been written, but there are steps community financial institutions can take now to prepare. financial system. While these are general today, the AMLA requires that regulations be written around each Priority, as appropriate. financial system. How to prepare.

Community 195

Community Regulation Training Policies 195

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. Intake, Construction, Release Management), and DevOps pipeline tooling. This active detection mechanism prevents known vulnerabilities from being inadvertently embedded into the system.

Compliance 332

Compliance Security Software System 332

Abrigo

JULY 21, 2021

As part of the Financial Crimes Enforcement Network’s (FinCEN) first national priorities list for anti-money laundering and countering the financing of terrorism (AML/CFT) policies, one important priority continues to be detecting, reporting, and preventing terrorist financing. BSA Rules and Regulation. BSA Rules and Regulation.

Training 195

Training National Strategy Regulation 195

Abrigo

AUGUST 31, 2023

Critical KYC Asking uncomfortable questions: the personal touch Senior management may view KYC as a regulatory obligation that burdens the client experience, thus affecting the relationship. For example, form letters often filter information from core systems, automatically assigning “Mrs./Mr./Miss”

Compliance 195

Compliance Community Training System 195

PYMNTS

APRIL 12, 2018

India’s Punjab National Bank (PNB) is conducting an internal investigation into an alleged $2 billion fraud, vowing to come down on anyone involved in the crime. “We For its part, PNB has suspended 21 officials, and Mehta said the bank was investigating how the fraud managed to go undetected for nearly a decade.

National 100

National Fraud Maine Software 100

Insights on Business

MARCH 5, 2019

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. The key is simple: financial institutions just need to improve the efficiency of their people and systems. The question is, how to do this, while keeping the regulators happy?

Regulation 70

Regulation Compliance Analysis Innovation 70

Gonzobanker

FEBRUARY 29, 2024

It’s very hard for regulated banks and credit unions to gain any meaningful efficiencies under $1 billion in assets. Management must invest in the resources necessary for best-in-class digital sales capabilities, and then they need to terrorize their team to hit aggressive growth goals through this channel.

Tools 152

Tools Analytics Data System 152

PYMNTS

NOVEMBER 12, 2020

In today’s top payments news around the world, Visa is rolling out a new program meant to link European financial institutions (FIs) and merchants with cutting-edge digital payment offerings, Payments Canada is teaming with Mastercard’s Vocalink to advance a new Real-Time Rail (RTR) payment system. The RTR is forecasted to roll out in 2022.

Payments 142

Payments Fintech Exercises Risk Management 142

PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

Mobile 229

Mobile Report America Regulation 229

PYMNTS

JANUARY 7, 2021

The World Health Organization (WHO) is warning that Europe is likely entering into the “acute” phase of the COVID-19 pandemic as nations scramble to quell the latest surge in infections. The approval is the second by European regulators, who greenlighted a vaccine developed by Pfizer and Germany’s BioNTech last month.

National 195

National Regional United States Policies 195