PYMNTS

DECEMBER 18, 2020

Credit Suisse has been indicted by Swiss prosecutors for allegedly failing to prevent money laundering, Bloomberg reports, adding that a former bank manager was also indicted alongside Credit Suisse. The case in question goes back to 2008 when a Bulgarian wrestler was investigated for reportedly turning to drug trafficking.

Compliance 203

Compliance Regulation Report Innovation 203

American Banker

AUGUST 25, 2023

The company is paying $75 million in penalties and restitution in connection with SEC allegations that its investment advisory arm overcharged customers it inherited in its Wachovia acquisition in 2008. The settlement is said to show the importance of conducting extensive compliance checks in a rapidly consolidating industry.

Compliance 69

Compliance Industry Company Management 69

South State Correspondent

MARCH 14, 2024

This all compares to about a 40%+ return invested in improving processes (loan, branch, cash management, etc.) Bank management should, of course, strive to increase cash flow as soon as possible. Now, with customers, and relationship managers switching banks at one of the highest rates, banks need to adapt to remain relevant.

Innovation 195

Innovation Strategy Capital Comparison 195

Perficient

AUGUST 16, 2023

He was promoted to President and CEO in 2008. To speak to a Perficient consultant about RCSA or any of Perficient’s risk management and regulatory capabilities, click here. In 2017, the bank was converted from its National Charter to a Kansas state-chartered bank and renamed Heartland Tri-State Bank.

United States 221

United States Kansas FDIC Risk Management 221

PYMNTS

FEBRUARY 11, 2020

The Uber Money team will be geared toward putting into place new payment methods, harnessing smart routing technologies for payment gateways, using Uber artificial intelligence (AI) models for intelligent risk decisions and enabling as well as developing financial compliance tools. billion earlier in January and started in 2008.

San Francisco 186

San Francisco Fintech Analytics New York 186

PYMNTS

OCTOBER 8, 2019

Corporate expense management company Expensify is rolling out a commercial card product to augment its solution. Expensify started as a corporate card way back in 2008, before we decided to focus on expense, so it’s fun to see the product come full circle with a card that naturally extends our existing platform,” he said.

Cards 108

Cards Management Taxes Analysis 108

PYMNTS

FEBRUARY 4, 2019

Banks, credit unions and other financial institutions have a significant responsibility, one that goes far beyond managing customers’ financial assets: They’re tasked with safeguarding the financial services ecosystem against bad actors, money launderers and other criminals.

How To 161

How To Regulation Compliance Meeting 161

PYMNTS

JUNE 20, 2017

Risk management is complex territory for many businesses, especially those with complex partnerships, vast supply chains and global footprints. For fund investors, active risk management is of particular importance for treasurers, Hazeltree noted. One is in assessing counterparty strength.

Big Data 119

Big Data Data Risk Management Compliance 119

FICO

NOVEMBER 30, 2022

Top 3 Actions for Delinquency Management Alleviating Inflation Concerns. The financial institutions who were resilient during the pandemic learned from their experiences in 2008 and were better prepared for inflation. The infrastructure to service and manage the calls was lacking. . FICO Admin. Thu, 08/22/2019 - 12:37.

Management 52

Management Strategy Policies Data 52

FICO

JUNE 23, 2020

When assessing the success of a strategy, whether it is related to limit management, collections or another decision, issuers will use a variety of data both internal and external. This data proved invaluable during the 2008 financial crisis and recovery to understand the market impact.

Management 52

Management Cards Data Strategy 52

Accenture

FEBRUARY 22, 2017

Following on from my previous blog introducing the new year in the Fintech Innovation programme, I wanted to turn the focus onto the emergence of RegTech—technologies that address the challenge and cost of regulatory compliance. RegTech has two aims: increasing the effectiveness and the efficiency of compliance. Both are critical.

Compliance 150

Compliance Regulation Innovation Fintech 150

Accenture

FEBRUARY 22, 2017

Following on from my previous blog introducing the new year in the Fintech Innovation programme, I wanted to turn the focus onto the emergence of RegTech—technologies that address the challenge and cost of regulatory compliance. RegTech has two aims: increasing the effectiveness and the efficiency of compliance. Both are critical.

Compliance 150

Compliance Regulation Innovation Fintech 150

PYMNTS

APRIL 14, 2020

As is the case today, albeit on a far smaller scale, the market crash of 2008 left millions unemployed and scrambling. New laws like California’s Assembly Bill 5 (AB5) and many others have also created new compliance hurdles for companies employing gig workers that must be managed.

Millennials 224

Millennials Compliance Payments National 224

PYMNTS

SEPTEMBER 12, 2019

The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. Between 2008 and 2018, approximately $26 billion worth of fines were levied against banks for AML, KYC and sanctions noncompliance. financial institutions (77 percent) for AML compliance. financial services firms is $26.4

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

Insights on Business

FEBRUARY 6, 2018

For example, financial intelligence regulator Austrac handed gaming giant Tabcorp a fine of AUD 45 M (USD 35 M) for non compliance, the highest ever civil penalty in corporate Australian history. The current approach to compliance management is not sustainable. We also saw U.S.

Compliance 87

Compliance Analytics Boston Regulation 87

PYMNTS

OCTOBER 15, 2020

We had already identified that we wanted to grow out of being a point solution and become more of an end-to-end compliance and identity proofing platform,” Pointner said. “We It also includes some pretty intuitive and compelling case management and investigation functionality that streamlines the process of reviewing suspicious activity.

Company 243

Company Fraud Compliance Course 243

Bobsguide

APRIL 27, 2022

Through this partnership, Prometeia intends to provide its clients with a quick and cost-effective solution for the extraction, transformation and loading of FSDP elementary information from the SAP native environment directly into the ERMAS Data Management Module. To know more: www.prometeia.com and risk.community@prometeia.com.

Data 148

Data Analytics Risk Management Management 148

PYMNTS

JUNE 26, 2018

In a press release issued on Monday (June 25), the SBA announced a strategic alliance with the American Institute of Certified Public Accountants (AICPA) to help small businesses (SMBs) facing regulatory compliance and enforcement issues. The SBA and AICPA have been working together since 2008, the entities noted.

Groups 101

Groups National Compliance Lending 101

PYMNTS

OCTOBER 17, 2016

AI is being applied to the world of regulation, or “RegTech,” and a new system can monitor the trading behavior of fund managers and even alert compliance bodies if questionable activity is detected. Traders might start to sense that someone is constantly watching over their shoulders.

Regulation 100

Regulation Compliance Meeting Analysis 100

Insights on Business

FEBRUARY 13, 2019

The global financial crisis of 2008 and 2009 brought a renewed focus on the governance, risk and compliance (GRC) processes within the financial institutions, who, not very long ago, viewed GRC as little more than a necessary evil – cost of doing business, which added little value.

User Experience 79

User Experience Compliance Risk Management Training 79

Abrigo

OCTOBER 17, 2019

Indeed, a 2008 analysis of multiple studies found that 88 percent of spreadsheet documents audited in those contained errors. If someone changes one cell or formula, it can potentially affect others, but it isn’t always easy to detect errors.

San Antonio 150

San Antonio Analysis Study Compliance 150

Insights on Business

AUGUST 23, 2017

In the wake of the 2007-2008 financial crisis, analysts were quick to point out that compensation plans which rewarded employees for taking excessive risk were among the many factors that lead to the financial crisis. Gaining control. Driving better performance.

Case Study 93

Case Study US Compliance Management 93

Gonzobanker

SEPTEMBER 14, 2016

The bank that didn’t dive into reverse swaps and other Wall Street shenanigans that caused so much pain back in 2008. Two of their biggest fears are the cost of compliance and the CFPB and other regulators overstepping their mandates. The bank that Warren Buffet bought for his portfolio. They aren’t.

Management 60

Management Community Bank Community US 60

PYMNTS

MAY 29, 2019

“We’ve had 10 years of enormous regulation,” UBS Group Chief Compliance and Governance Officer Markus Ronner said, according to the report. “That has tied up enormous resources.”

Regulation 108

Regulation Compliance Capital Resources 108

FICO

JUNE 27, 2023

percent year-on-year Consumer Duty Guidance Deadline Nears The yo-yo pattern of financial management — seen for the last few months — reflects the general economic uncertainty, particularly for mortgage holders. How to Turn UK’s Consumer Duty Compliance to Your Advantage percent in March and 8.7 percent in April. percent and 9.4

Cards 52

Cards Trends Management Data 52

FICO

SEPTEMBER 7, 2022

With a cost-of-living crisis and soaring energy costs across Europe and other countries, it's important to re-evaluate debt collections and customer risk management strategies. It also represented a regulatory stepping-stone put in place following the global banking crash of 2008. in Q2-2008. Wed, 09/07/2022 - 09:50.

Strategy 52

Strategy Risk Management Management Operations 52

Abrigo

NOVEMBER 19, 2015

For banks that have not acquired or merged since 2008, the top reasons for not doing so were preference to grow organically (32 percent), target prices too high (16 percent) and compliance and/or regulatory issues (14 percent). • Respondents were asked which areas their bank has improved infrastructure in over the past three years. .

Survey 150

Survey Risk Management Industry Compliance 150

PYMNTS

JUNE 7, 2018

With eProcurement increasing its strategic role within the enterprise, data emerges as an essential part of supplier management – and that’s placing heightened pressure on the vendors themselves, too. They’re not salespeople anymore, so much as they’re relationship managers.”

Data 144

Data Analysis Management Company 144

Abrigo

FEBRUARY 2, 2015

The banking industry has seen a steady stream of media attention since 2008, much of it in the form of stories about data breaches linked to major retailers or mega banks’ profits. Risk management issues were also a high-ranking hurdle to growing banks, with 26 percent calling it a concern for 2015.

Community Bank 150

Community Bank Community Regulation Survey 150

PYMNTS

OCTOBER 1, 2018

By using funds managed by LCA to benefit its parent company, LCA and Laplanche failed to do so.”. We have full confidence in our new management team and we are a better company today.”. By 2008, the economy had lurched into crisis mode, and the world of credit suddenly become a very different place.

Lending 135

Lending Fraud Management San Francisco 135

FICO

JUNE 22, 2017

At the time, Madoff had been running an elaborate Ponzi scheme through the wealth management arm of his business that reached $65 million by the time of his arrest in 2008, deliberately hiding the money intricately within the financial system. This post originally appeared on the SIIA blog.

Tools 55

Tools Compliance Innovation social media 55

Jeff For Banks

JULY 8, 2017

trillion in 2008. million at the end of December, 2007, before the crisis hit in 2008. million in December, 2008 and the peak occurred in October, 2009 at 21.4 For years, regulatory and compliance costs have been growing dramatically. Weak readings on employment, housing data, and retail sales won’t stop them.

Marketing 60

Marketing Community Bank Security Data 60

BankUnderground

JUNE 25, 2020

There is a global market for these vendors, and a wide range of functions are provided, especially back-office functions such as HR and accounting services, as well as specialised risk management and product development activities. In some cases, firms ‘insource’ these functions to intra-group entities operating in lower-cost jurisdictions.

Data 110

Data Big Data Regulation Risk Management 110

CFPB Monitor

JANUARY 12, 2021

Modernization of the existing regulatory framework is needed to allow it to adapt more nimbly to changes in technology and consumer preferences, respond to new opportunities and consumer threats, and address future crises (such as the 2008 financial crisis and the COVID-19 pandemic). Small dollar credit.

Report 78

Report Regulation Policies Compliance 78

Insights on Business

MAY 3, 2018

Today, IBM proudly accepted two distinguished RegTech Awards 2018 for our innovations within IBM Watson Regulatory Compliance: “Best AI Solution for Regulatory Compliance”. Best Regulatory Alert Management Solution”. The business challenge of demonstrating compliance. This is understandable.

Compliance 70

Compliance Innovation Regulation System 70

Jeff For Banks

NOVEMBER 24, 2019

Harassment included a bellicose management team, scowls from the townspeople, and threatening sidewalk art outside of the bank. No worries though, because the bank was fabulously profitable and management was in the business of ignoring their aggressive overlords. Cherry died in 2008 while still in jail. She's 66 years old now.

National 78

National West Virginia Virginia Pennsylvania 78

Gonzobanker

AUGUST 29, 2017

On the mortgage lending side, compliance and functionality requirements skyrocketed over the past couple of years, mostly due to the TILA/RESPA Integrated Disclosure rule (TRID). While having a go-to-market set of products and overall strategy are clearly important, there are two things standalone LOS vendors have just been doing better.

Strategy 76

Strategy Lending System Community 76