Bank Innovation

DECEMBER 9, 2019

First there was the financial crisis of 2008. Now, banks face what one financial regulator calls the “real game changer.” Then years of negative interest rates. Jesper Berg, the head of the Financial Supervisory Authority in Denmark, says the next big threat for banks is the rapid spread of big tech into financial services.

Data 221

Data Regulation Compliance Security 221

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

Perficient

FEBRUARY 23, 2021

The financial crisis of 2008 and 2009 highlighted the need for timely data to identify and monitor liquidity risks at individual firms, as well as in aggregate across the financial system, especially with respect to intra-company flows and exposures within a consolidated institution.

Report 309

Report Risk Management Data System 309

PYMNTS

DECEMBER 18, 2020

The case in question goes back to 2008 when a Bulgarian wrestler was investigated for reportedly turning to drug trafficking. The fact that the bank let it continue until 2008, or even beyond, impeded or frustrated the detection of the money laundering activities,” the indictment read, according to Bloomberg.

Compliance 203

Compliance Regulation Report Innovation 203

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”. With these awards, what is most exciting is the recognition of the value we bring to clients in need of solutions for regulatory compliance and risk.

Compliance 70

Compliance Innovation Regulation System 70

SWBC's LenderHub

JUNE 21, 2021

Regulatory technology, or RegTech, was developed in the wake of the FinTech revolution and has been continuously expanding since the financial crisis of 2008. Experts predict it will rapidly advance the regulatory landscape by offering technological compliance solutions for the highly regulated financial services industry.

Industry 78

Industry Compliance Regulation Technology 78

Bobsguide

APRIL 2, 2019

The decade since the financial crisis of 2008 has been a challenging time for the financial services sector. Not only has the industry had to face the increased compliance and governance requirements that emerged as a result of new and tighter regulation intended to prevent a similar crisis in.

Compliance 129

Compliance Regulation Industry 129

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. Two recent surveys addressing the community banking landscape have pointed to increasing regulations as the primary cause of stress for these institutions.

Community Bank 150

Community Bank Community Regulation Survey 150

Perficient

AUGUST 16, 2023

He was promoted to President and CEO in 2008. Bank Closed By Regulators Almost all bank closures happen on a Friday so that regulators can work all weekend to reopen the bank on Monday. 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

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. billion — 91 percent — of those penalties, while European regulators demanded $1.7 imposed a full $23.52

Fraud 189

Fraud Fintech Compliance Regulation 189

Let's Talk Payments

AUGUST 9, 2017

In the aftermath of the 2008 economic crisis, financial services regulators introduced a number of new measures to safeguard both the integrity and security of the financial system.

Compliance 106

Compliance Industry Report Fintech 106

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

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

Abrigo

FEBRUARY 11, 2022

Earlier this month, the FASB considered and rejected further deferral of the CECL standard, initially issued in 2016 in response to the 2008 global financial crisis. Financial institutions that waited to begin adapting to the new regulations may find the thought of eleven months until compliance intimidating. CECL Regulation.

Resources 195

Resources Regulation Community Bank Community 195

PYMNTS

MAY 22, 2018

A bill that would give regional banks a break on regulation was before the U.S. The bill also gives regulators more discretion in deciding when to require stress tests of capital adequacy for banks with between $100 billion and $250 billion in assets in the event of another crisis,” according to a summary of the bill in MarketWatch. “Tom

Regulation 100

Regulation Regional Community Community Bank 100

PYMNTS

MARCH 9, 2020

Banks on Wall Street are talking to regulators about waiving rules regarding brokers working remotely while the coronavirus makes its way through New York, according to a report by Reuters. They’ve done this in the past around the 2008 financial crisis and 9/11. has been spearheading the industry response to the outbreak.

New York 154

New York Regulation Meeting Industry 154

PYMNTS

FEBRUARY 4, 2019

A series of regulations was established to encourage a safer, more transparent financial services environment following the 2008 financial crisis. Money laundering remains a significant problem in the financial services sector, though, despite the urgency brought about by 2008. A DIY Approach To AML/KYC.

How To 161

How To Regulation Compliance Meeting 161

American Banker

OCTOBER 9, 2023

The Federal Reserve's top regulator cited the financial crisis of 2008 repeatedly in a speech about the merits of new risk-capital standards — proposals that have drawn unprecedented fire from banking trade groups and members of Congress.

Capital 60

Capital Regulation Groups Policies 60

American Banker

APRIL 4, 2024

The Federal Reserve, historically a secretive and isolated institution, has made a concerted effort to explain itself to and be understood by the public since 2008. But try as it might, the central bank is still viewed by many as an enigma, if not an enemy.

Policies 89

Policies Compliance Regulation 89

PYMNTS

JANUARY 30, 2019

They face the challenge of offering customers a smooth onboarding process while also remaining rigorous in know your customer (KYC) efforts, taking care to remain compliant with local anti-money laundering (AML) regulations that aim to keep criminals from using legitimate operations to move money illegally. About The AML/KYC Tracker.

How To 170

How To blockchain Compliance Regional 170

PYMNTS

JULY 17, 2019

Historically, banks are taking a reactive approach to risk: reactionary measures were largely behind financial institutions’ pullback from the small business lending market following the 2008 global financial crisis, for example. On top of that balancing act is the rising pressure of regulatory compliance, too.

Data 130

Data Management Analytics Compliance 130

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

APRIL 24, 2017

The Dodd-Frank Wall Street and Consumer Protection Act was supposed to prevent another 2008 banking meltdown — and solve the problem of “too big to fail.” And those banks are going out of business — or merging with bigger players — largely due to the complexity and cost of compliance. billion annually in compliance costs.

St. Louis 105

St. Louis Regulation Compliance Community Bank 105

American Banker

MAY 2, 2023

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FDIC 100

FDIC Policies Compliance Regulation 100

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. The UK’s Financial Conduct Authority issued a “call for input,” in 2015, and regulators are encouraging innovation.

Regulation 100

Regulation Compliance Meeting Analysis 100

Insights on Business

FEBRUARY 6, 2018

Banks around the world are continuing to be penalized heavily for their inability to meet with ever-changing and complex financial regulations. 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.

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 The world saw this during the 2008-09 financial crisis, he pointed out, when fraud attempts doubled and, in some cases, tripled.

Company 243

Company Fraud Compliance Course 243

PYMNTS

JUNE 20, 2017

But Big Data lands new capabilities in the hands of corporate treasurers and other executives that yields active, real-time assessments of risks from multiple angles, from counterparties to compliance. A weak data management strategy could heighten the risk of non-compliance.

Big Data 119

Big Data Data Risk Management Compliance 119

Bank Innovation

FEBRUARY 1, 2019

The 25% plunge -- the worst since July 2008 -- capped a tumultuous three days that shaved about €7.2 Wirecard AG fell the most in more than a decade on Friday after a report that a law firm found evidence of alleged forgery, the latest fraud allegations to beset the digital payments company. billion ($8.3 […].

Fraud 150

Fraud Report Payments Company 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

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. IBM OpenPages with Watson 8.0

User Experience 79

User Experience Compliance Risk Management Training 79

CFPB Monitor

JANUARY 12, 2021

The Taskforce was charged with examining the existing legal and regulatory environment for consumers and financial services providers and making recommendations to the Bureau’s leadership for improving consumer financial laws and regulations. The report consists of two volumes. Equal access to credit.

Report 78

Report Regulation Policies Compliance 78

BankUnderground

AUGUST 10, 2021

Do prudential regulations that work well for big banks work as well for small ones? This provides evidence that an efficient set of regulations for large banks might not be as efficient for small ones. Regulators would then need to think about whether a different set of regulatory requirements would be better for small banks.

Regulation 127

Regulation Capital Policies US 127

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

American Banker

AUGUST 3, 2022

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Policies 41

Policies Compliance Regulation 41

American Banker

MARCH 17, 2023

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FDIC 36

FDIC Compliance Regulation 36