Perficient

MAY 5, 2022

Two-plus years later, banks and credit unions continue to feel the pressure to transform their credit and lending operations. The IDC Market Glance offers an overview of the landscape for consumer and small business digital lending. And for good. A Pathway to Improved Loss Rates and Happier Customers.

Lending 354

Lending Strategy Marketing Big Data 354

PYMNTS

DECEMBER 16, 2020

Robinhood has come under the watchful eye of regulators — this time in Massachusetts. State regulators are set to file a complaint on Wednesday (Dec. 16) saying that the stock-trading platform failed to protect its customers and their assets, violating state laws and regulations.

Massachusetts 178

Massachusetts Regulation Security Compliance 178

PYMNTS

NOVEMBER 26, 2019

In recent years, the market has gone from one struggling with high financial illiteracy and limited card acceptance, to a bright spot in Europe for FinTech innovation. Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment. But financial regulatory compliance can be a headache for any market.

Compliance 182

Compliance Regulation Fintech Resources 182

PYMNTS

NOVEMBER 30, 2020

The British government is establishing a new Digital Markets Unit tasked with enforcing laws that apply to Big Tech companies, such as Google and Facebook , authorities announced in a press release. s Competition and Markets Authority (CMA), the agency that oversees enforcement of antitrust laws. According to the U.K.

Marketing 189

Marketing Regulation Google Innovation 189

PYMNTS

NOVEMBER 12, 2020

While helpful, the availability of affordable financing for SMBs is not necessarily typical of a market in which smaller firms can struggle to access funding. And when federal funding runs dry, SMBs will continue to need financing to remain viable and thrive in a post-pandemic market. The High-Risk Perception.

Regulation 232

Regulation Capital Marketing Lending 232

PYMNTS

AUGUST 28, 2020

seeks to reinstate its license to provide ride-hailing services in London after a suspension, the city’s transportation regulator will leave the decision up to a judge. Bloomberg News reported that Transport for London (TfL) will stay neutral and let the court decide whether Uber can operate in its biggest European market.

Operations 154

Operations Regulation Groups Data 154

Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. AI technologies, such as voice recognition and natural language processing (NLP), are being used to improve customer experience and to gain operational efficiencies. Personalization of Customer Services.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

NOVEMBER 5, 2020

Ant Group 's initial public offering (IPO) could be delayed by six months and its valuation reduced by quite a lot after its delay this week, a report from the Financial Times says, as new regulations come into play. 3), one day after Beijing debuted a set of regulations that would have forced Ant Group to re-do its business model.

Groups 189

Groups Regulation Lending Financial Technology 189

Jeff For Banks

AUGUST 14, 2022

In 2012 the Obama administration launched "Operation Choke Point" ("OCP") which was designed to ensure banks considered the risk of banking payday lenders that were engaged in abusive practices. But in January 2021, the new OCC announced it would pause the "Fair Access" rule that was intended to prevent another Operation Choke Point.

Operations 78

Operations Lending FDIC Industry 78

Perficient

OCTOBER 27, 2022

The FRB and FDIC are looking to improve financial stability by limiting contagion risk ( the spread of an economic crisis from one market or region to another) by reducing the likelihood of uninsured depositors suffering loss. of total leverage exposure. This calibration is intended to ensure U.S. of total leverage exposure.

Capital 275

Capital Regulation FDIC Regional 275

PYMNTS

JUNE 25, 2020

It will be easier for New York cryptocurrency businesses to launch in New York, thanks to a plan by regulators that would ease licensing rules. The existing licensee would provide the startup with the operational, staffing, and other support until it can obtain a full DFS virtual currency license.

New York 240

New York cryptocurrency Regulation Innovation 240

BankUnderground

NOVEMBER 2, 2022

Operational risk is rapidly becoming one of the most important threats to the financial system but is also one of the least well understood. But they are only one part of operational risk, which includes losses from any kind of business disruption or human error, including power outages or natural disasters.

Operations 87

Operations Policies System Regulation 87

PYMNTS

APRIL 24, 2019

Regulators want to have a greater stake in the way sharing platforms operate. Many of these regulators also now expect sharing and payment services to comply with shifting data regulations, like GDPR. A reclassification could lead to significant changes in how the mobile payment service can operate in the country.

Marketing 179

Marketing Regulation Case Study Security 179

Bank Innovation

JULY 12, 2018

Online lenders may own more than half of the personal lending market, but they face serious headwinds. For one thing, rising interest rates will increase their cost of funds, and perhaps make their offerings less attractive, and for another, regulations may arrive that make operating their businesses more expensive.

New York 225

New York Regulation Online Lending 225

PYMNTS

SEPTEMBER 8, 2020

With the boom of eCommerce both before and during the pandemic, European Union regulators are taking another look at antitrust rules regarding internet sales and distribution platforms. The European Commission, the EU’s arm for antitrust regulations, said in a press release that it will examine vertical block exemption regulations (VBER).

Regulation 131

Regulation Google Comparison Online 131

PYMNTS

JANUARY 18, 2018

Regulation has undoubtedly acted as a catalyst to major financial services trends in areas like small business (SMB) lending, faster payments and, most recently, open banking and collaboration with FinTechs. In its Global Banking Outlook 2018 survey , EY assessed 221 financial institutions across 29 markets. Optimism Up.

Regulation 156

Regulation Innovation Fintech Marketing 156

PYMNTS

MAY 4, 2020

He will be tasked with developing strategy, direction and comprehensive success of Mastercard’s operations across 53 countries in Europe. Perez also formed partnerships with various businesses, government entities and regulators to advance ingenuity and confidence in the payment landscape.

Operations 141

Operations Regulation Regional Retail 141

PYMNTS

OCTOBER 16, 2020

As it aims to bolster methods of market exit and risk disposal for institutions that loan money, the central bank of China introduced a draft of updates to legislation applicable to commercial banks, Reuters reported. They’ve been asked to support the economy at the expense of their own operational strength.” .

Regulation 280

Regulation Lending National Marketing 280

Abrigo

JANUARY 30, 2023

FinCEN alert targets Russian CRE sanctions evasions FinCEN reminded banks of red flags to watch for to detect CRE market money laundering, particularly by sanctioned Russian elites. Banks should beware of market participants who keep lowering their stakes to avoid detection while still maintaining control of the fund.

Marketing 195

Marketing Fraud Compliance Training 195

PYMNTS

DECEMBER 4, 2020

4), Dutch antitrust regulators have been looking at the company – specifically into Apple’s Pay’s near-field communications (NFC) operability. It should be noted that the Netherlands Authority for Consumers and Markets (ACM) did not explicitly name Apple in its announcement of an investigation into NFC.

Regulation 150

Regulation Apple Google Software 150

PYMNTS

JANUARY 25, 2019

In the January PSD2 Tracker , PYMNTS examines how money movement and data flow are getting an upgrade with PSD2, as well as how the upcoming SCA regulation is bound to affect user authentication. Despite GDPR coming into effect a full six months ago, 50 percent of European merchants still aren’t compliant with the regulation.

Operations 195

Operations Regulation Data Trends 195

PYMNTS

SEPTEMBER 22, 2020

China's top regulator, the State Administration for Market Regulation, has fined coffee chain Luckin Coffee and other firms that helped it inflate its sales and expenses last year, The Wall Street Journal reported. The regulator said on Tuesday (Sept. That prompted the regulator to start the investigation.

Regulation 143

Regulation Company Fraud Policies 143

PYMNTS

JULY 15, 2020

The European Securities and Markets Authority (ESMA), the European Union’s (EU) financial watchdog, plans to examine how German regulators handled oversight of Wirecard AG , the collapsed payments company that is facing a series of criminal allegations.

Regulation 141

Regulation Guidelines Groups Report 141

PYMNTS

AUGUST 6, 2020

The bulk of this value is driven by savings and operational efficiencies, as AI could cut costs for banks by reducing the human error that occurs in payments and other operations. Customer demand, accelerated speed to market and improved back-end efficiencies are all motivating causes, but banks could face ruin if they fall behind.

Regulation 245

Regulation Payments Innovation Fintech 245

PYMNTS

DECEMBER 5, 2019

regulators on Thursday (Dec. The Bank of England , the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) published a shared policy summary on new requirements to strengthen operational resilience in the financial services sector. The problems prompted a parliamentary inquiry.

Regulation 132

Regulation Operations Policies Technology 132

PYMNTS

DECEMBER 14, 2020

Mexico’s antitrust regulator Cofece has approved the acquisition of grocery delivery platform Cornershop by Uber Technologies, Bloomberg reported on Monday (Dec. and Canada operating under Uber’s app. . The acquisition would give Uber Eats an estimated 37 percent market share, up from a current 29 percent. Department of Justice.

Regulation 168

Regulation Miami Dallas Florida 168

PYMNTS

JANUARY 20, 2020

As Goldman Sachs seeks further expansion in the South African economy, the financial services company joined the Johannesburg Stock Exchange’s interest-rate and currency-derivatives market, Bloomberg reported on Monday (Jan. The filings also indicated that interest income would be spread across operating segments.

Operations 150

Operations Capital Groups Apple 150

PYMNTS

DECEMBER 15, 2020

15) extensive potential new regulations for digital services that would cover online marketplaces, social media and other platforms, offering first drafts for the Digital Markets Act (DMA) and the Digital Services Act (DSA) to the public. The European Commission released on Tuesday (Dec.

Marketing 210

Marketing social media Online Google 210

PYMNTS

JULY 16, 2019

France’s financial regulator is set to approve a wave of cryptocurrency-related firms in the country, subjecting them to new rules that include paying taxes and complying with capital requirements and consumer protections, according to a report by Reuters. Because digital currency is so new, regulations vary around the world.

Regulation 143

Regulation Company cryptocurrency Taxes 143

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

PYMNTS

JULY 28, 2020

Robust international operations require winning over many sellers and operating smoothly around the world, activities that can be challenging for platforms. dollars, but the practice can be inconvenient for sellers in many international markets. Complying With Payments Regulations. Domestic Seller Currencies.

Marketing 159

Marketing Regulation National Operations 159

PYMNTS

DECEMBER 28, 2020

Large Chinese companies, including Alibaba and rivals Tencent , food delivery giant Meituan and retailer JD.com , have lost almost $200 billion in Hong Kong since regulators announced last week that they were investigating Alibaba's reported monopolistic practices, according to Bloomberg. Regulators on Sunday (Dec.

Regulation 141

Regulation Google Report Capital 141

PYMNTS

DECEMBER 11, 2019

The United Kingdom’s regulator on competition and antitrust concerns has signaled that eCommerce giant Amazon’s stake in food delivery service Deliveroo may need additional examination. 11) that Britain’s Competition and Markets Authority (CMA) has said the stake raises “serious competition concerns” and may need more investigation.

Regulation 131

Regulation Innovation Operations Report 131

PYMNTS

FEBRUARY 3, 2020

The European Union is examining the creation of a single data market that would reportedly challenge tech firms such as Google and Facebook, as Reuters reported. The creation of a “single European data space, a genuine single market for data” would include new rules governing cross-border use and data interoperability, among other tenets.

Data 130

Data Marketing Rhode Island Google 130

PYMNTS

JANUARY 12, 2020

Uber will cease operating in Colombia at the end of the month, the company said in a statement. The decision — the latest blow to the rideshare company — comes after protests from Colombian taxi drivers that Uber was breaking the rules of the country’s taxi market.

Regulation 146

Regulation Operations Company Marketing 146

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.

blockchain 244

blockchain Guidelines cryptocurrency Marketing 244

PYMNTS

DECEMBER 18, 2019

The United Kingdom will create a technology regulator next year after Brexit is completed, according to a report by the Financial Times. s Competition and Markets Authority (CMA), which published a report on Wednesday (Dec. There is an emerging international consensus around the scope of new regulation.

Regulation 134

Regulation Google Policies Meeting 134