PYMNTS

SEPTEMBER 23, 2019

Financial crimes risk management software company Quantifind and Oracle Financial Services have teamed up to improve anti-money laundering (AML) compliance and to add intelligence and automation properties directly into the compliance workflows, according to a release.

Compliance 164

Compliance Software Risk Management Management 164

PYMNTS

JULY 8, 2019

and compliance teams would manually check onboarding customers to make sure their records were clear. That is no longer the case today. Wiping out the manual process and handling compliance in an automated fashion can propel companies forward,” Meier said.

Compliance 202

Compliance Data System Fintech 202

PYMNTS

AUGUST 23, 2019

Security and compliance are also vital components in ensuring that payments are delivered safely and without delay. In her view, financial institutions are indeed coming together to share common compliance concerns, and in doing so, are working openly to create innovative solutions and put the pieces together.

Compliance 192

Compliance Security Payments Community 192

PYMNTS

MAY 23, 2017

The Euro Banking Association (EBA) announced Monday (May 22) that it issued a new information paper looking at benefits and uses cases of digital currencies for international payments and correspondent banking practices. The paper also looks at specific use cases, such as distributed KYC registries and low-value P2P/B2C payments.

Groups 100

Groups Analysis Compliance Payments 100

Bank Innovation

NOVEMBER 11, 2016

In reality, how will banks use the blockchain? “To Blockchain is at a bit of a critical point, because it’s running up against the one universal enemy all new technologies have to face eventually: reality. To do the real thing, it takes time, effort and expertise,” says Alex Wolff, head of Read More.

blockchain 340

blockchain Technology Software Compliance 340

CFPB Monitor

MAY 3, 2022

On April 28, 2022 the New York Department of Financial Services (“NYDFS”) issued its Guidance on Use of Blockchain Analytics , a document directed to all virtual currency business entities that either have a NYDFS Bitlicense or are chartered as a limited purpose trust company under the New York Banking Law. Augmenting KYC Controls.

Analytics 147

Analytics Compliance blockchain Policies 147

PYMNTS

MARCH 11, 2020

Among those announcements includes a deepened integration with PayPal, which allows small businesses using QuickBooks to send out invoices with a feature enabling debit and credit card payment on those bills, facilitated by PayPal. Airwallex Readies B2B X-Border Card.

Cards 130

Cards Capital Fintech Tools 130

PYMNTS

SEPTEMBER 23, 2020

He explained that the cloud can help FIs swiftly respond to compliance and security challenges during the pandemic. With regulations governing open banking, [like] PSD2, and storage of data, [like] GDPR, we now have an even stronger case to securely open our systems to external partners,” Schmidt said.

Compliance 225

Compliance Regulation Guidelines Security 225

PYMNTS

NOVEMBER 9, 2016

Any organization, small or large, private or public, must handle the pressures of compliance. For example, when a donor provides funds to a nonprofit , the company must be able to record information like where the funds originated, and there are requirements or restrictions on how the firm can use that money.

Compliance 174

Compliance Resources Data Management 174

PYMNTS

SEPTEMBER 16, 2019

Despite announcements last month that the deadline for Strong Customer Authentication (SCA) compliance will be extended , the original proposed deadline approaches next week. The potential cost for non-compliance is huge. Previous efforts for the U.S. to come up with a national privacy law were stymied. a password).

Compliance 130

Compliance Guidelines Regulation National 130

Perficient

JUNE 1, 2023

This is generative AI that’s ready for at-scale enterprise use cases — without needing to build an internal Machine Learning and Natural Language Processing team or application layer yourself. With the API and Figma plugin, they can empower everyone to use the language that differentiates them in a competitive industry.

Compliance 251

Compliance Industry Regulation Data 251

PYMNTS

MAY 4, 2020

Singapore implemented lockdown mandates across the nation-state April 7 following COVID-19 outbreaks in the dormitories used by migrant workers. Tokyo saw outings fall about 50 percent through the end of April as the number of new coronavirus cases declined from the city’s peak of 201 on April 17. . As new cases in the U.S.

Google 153

Google Data Compliance Georgia 153

PYMNTS

MAY 23, 2016

Will artificial intelligence help banks navigate the complexities of compliance more effectively? Against a backdrop where regulations have grown by leaps and bounds in the wake of the financial crisis, The Wall Street Journal reported that banks have taken on tens of thousands of new staffers tied exclusively to compliance.

Compliance 103

Compliance Management Survey Course 103

PYMNTS

APRIL 26, 2019

In the world of supply chain compliance, complex regulatory requirements like Know Your Customer (KYC) and anti-money laundering (AML) probably come to mind. There are also the challenges of supplier management, tax legislation, cross-border compliance, worker protection and more. ”

Compliance 147

Compliance Policies Guidelines Examples 147

American Banker

FEBRUARY 27, 2024

Helping programmers become more productive, modernizing legacy systems and conducting compliance assessments are among the hundreds of gen AI use cases in production or in the pipeline for Shadman Zafar, co-CIO for Citi and lead for the bank's generative AI work.

Compliance 93

Compliance System Technology 93

Insights on Business

JUNE 28, 2018

A recent explosion of AI applications is taking place in financial institutions, particularly in the area of risk and compliance. Some may see this as a no-brainer, but others might not think about AI applications outside the more common uses by banking and financial institutions. So how is AI helping risk and compliance processes?

Compliance 70

Compliance Case Study Analysis Analytics 70

Perficient

SEPTEMBER 16, 2020

The implementation of such advanced technology improves data quality, consistency, compliance, and operational efficiency. Use Cases. The ROI can be significant. . You can find the one-hour webinar below, in which you will learn how to utilize AI and automation to enhance your PV system. The webinar highlights: .

Analytics 294

Analytics Compliance Data System 294

PYMNTS

APRIL 7, 2017

Compliance is not just about dealing with a specific corporate action or use case. When payments are involved, compliance is a way of life, as constant as the transactions themselves, and it is complex enough an activity for some firms as to demand outsourcing to experts. She noted that WePay exists “behind the scenes.…

Compliance 100

Compliance social media User Experience Fraud 100

Abrigo

SEPTEMBER 7, 2023

Court case: Credit union held liable for ACH fraud losses A construction company argued the financial institution "failed to establish a reasonable routine" for monitoring suspicious activity alerts tied to ACH. Takeaway 2 The case is under appeal, but it nevertheless holds lessons related to monitoring ACH risks.

Fraud 221

Fraud Training System Trends 221

South State Correspondent

JANUARY 16, 2024

Some bankers will soon hear about another example of banks using derivatives that, unfortunately, will lead to losses. The reason for the cessation of BSBY is simple – lack of use. BSBY was not well received by US regulators from its inception, but the market eventually embraced SOFR over BSBY. No ISDA documents.

Community Bank 195

Community Bank Community Compliance CA 195

PYMNTS

SEPTEMBER 17, 2019

When it comes to requesting consent from users, Modo Chief Product Officer Ryan Lee notes that companies — as technologists — use many tools, which collect personal information. FinTechs like Modo, however, disclose what technology they use to collect data around product usage (and what telemetry they take in.)

Fintech 200

Fintech Compliance Data Regulation 200

PYMNTS

MARCH 8, 2018

and group compliance director, explained to PYMNTS how online tools can make remote identity verification even more robust than in-person processes — and also help kick cross-border payments into higher gear. “Is In a recent interview, Brion Nazzaro, the company’s U.S. Nazzaro asked. Response has been positive in the P2P space.

Compliance 101

Compliance Regulation Online Payments 101

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Certainly, the use and availability of cryptocurrencies is another emerging area that is contending with its own unique set of compliance issues, but it is also one Wingert said appears to be closing gaps in regulation.

Fraud 270

Fraud Compliance cryptocurrency Security 270

PYMNTS

OCTOBER 13, 2016

Regulation and compliance can be a tough space for many to wrap their heads around. Sunil Madhu , founder and CEO of Socure , joined Karen Webster to give context to some of the compliance concepts trending in the industry and also share his thoughts on what’s coming next down the regulatory pipeline. Compliance Decoded.

Compliance 100

Compliance blockchain Regulation Data 100

Insights on Business

NOVEMBER 12, 2018

Today, governance, risk and compliance (GRC) is being transformed by not only rapidly-evolving regulatory standards and growing costs of non-compliance, but also by the clear and present need for greater GRC adoption/engagement – by the first line of defense – while delivering added value by empowering business users.

Compliance 107

Compliance Technology User Experience Analytics 107

FICO

JUNE 11, 2019

Tax agencies have a limited amount of resources to pursue tax compliance activities (collections and audit). Because of this resource limitation, they are required to build criteria to determine which individuals and businesses to select for audit and which collection cases to focus their efforts on. Three Types.

Taxes 58

Taxes Analytics Compliance Resources 58

Perficient

DECEMBER 14, 2023

Automated invoice processing provides a solution by leveraging advanced data extraction and processing capabilities, to identify and classify the fees, ensuring compliance and transparency. This results in stronger supplier relationships, enhanced compliance and audit, and timely payments. What is Automated Invoice Processing?

Training 221

Training Strategy Exercises Data 221

Perficient

DECEMBER 14, 2023

Automated invoice processing provides a solution by leveraging advanced data extraction and processing capabilities, to identify and classify the fees, ensuring compliance and transparency. This results in stronger supplier relationships, enhanced compliance and audit, and timely payments. What is Automated Invoice Processing?

Training 221

Training Strategy Exercises Data 221

BankInovation

FEBRUARY 17, 2021

Automation can help eliminate risk — if it’s used correctly. But this is often not the case, according to a chief risk officer who has worked with censured banks. The most common mistake banks make is using technology without auditing or understanding it, according to Andrew Stines, chief risk officer at the $1.77

Compliance 98

Compliance Technology Risk Management Management 98

Perficient

FEBRUARY 10, 2021

New features are very difficult to deploy, patching is near impossible and is leading to downtime, and security and compliance standards are becoming harder and harder to meet. In the case of that pesky applications we mentioned earlier, you’ll be able to break it down into smaller parts and update it far more quickly and easily.

Management 547

Management Operations Innovation Security 547

Abrigo

JANUARY 3, 2022

Ensure Compliance. Sound quality control can ensure compliance and prevent money laundering and fraud as banks and credit unions continue to blur the lines between the two areas. That seems to be the case with CommunityBank of Texas. Is your AML quality control doing its job?

Texas 195

Texas Compliance Fraud Training 195

Perficient

NOVEMBER 27, 2023

This comparison enables your teams to assess process effectiveness and identify deviations that require attention due to inefficiencies and/or non-compliance. Process mining is particularly valuable in industries like healthcare and finance where strict regulatory requirements and compliance are especially critical.

Industry 221

Industry Regulation Compliance Data 221

Abrigo

DECEMBER 28, 2022

Cybercrime, sanctions compliance, and cryptocurrency troubles are bound to be trends for anti-money laundering/countering the financing of terrorism (AML/CFT) and fraud professionals to track in the coming months. Others explain common and emerging fraud trends that compliance staff are working to prevent. Sanctions & synthetic ID.

Fraud 195

Fraud Training Compliance Regulation 195

FICO

AUGUST 12, 2021

Financial Institutions’ compliance officers and teams should be concerned that Open Banking may render their existing AML/CTF and KYC compliance programs inadequate. AML compliance has not traditionally focused on monitoring this type of network. Fintechs therefore may use combinations of API providers.

Compliance 52

Compliance Regulation cryptocurrency Marketing 52

CFPB Monitor

JUNE 30, 2022

Of special note, the OCC also believes compliance risk is “heightened” for Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance because of world events and compliance staffing concerns. BSA/AML Compliance Risks. Cybersecurity Risks.

Compliance 78

Compliance Fraud Technology Operations 78

PYMNTS

OCTOBER 5, 2020

Firms such as Google and Amazon “shall not use data collected on the platform?.?.?.?for Gatekeepers shall not use data received from business users for advertising services for any other purpose other than advertising services,” according to the draft, as per FT. for [their] own commercial activities?.?.?.?unless 25 statement.

Data 229

Data Google Compliance Apple 229

Perficient

NOVEMBER 4, 2020

Like the bees, we work in multiple places doing multiple things communicate, and in the end, we have something sweet and useful. They don’t realize we do much more than specialize in one particular system or, in some cases, one specific vendor. The goal is to gain efficiencies as the regulatory PV burden for compliance becomes heavier.

Groups 309

Groups US Meeting Case Study 309