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Want to Partner With Early-Stage Fintechs? OCC Is Watching

Bank Innovation

As if the life wasn’t hard enough for fintech startups. The Office of the Comptroller of the Currency published an FAQ section on its website this week, in order to clarify several points from its “Third-Party Relationships: Risk Management Guidance” issued in 2013. Most notably, the OCC […].

Fintech 319
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Federal banking agencies issued proposed guidance on risk management for third-party relationships

CFPB Monitor

The Federal Reserve, FDIC, and OCC have released proposed guidance for banking organizations on managing risks associated with third-party relationships, including relationships with financial technology-focused entities such as bank/fintech sponsorship arrangements. Due diligence and third-party selection. Contract negotiation.

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OCC issues updated FAQs to supplement bulletin on third-party relationships

CFPB Monitor

On March 5, 2020, the OCC issued a revised set of FAQs designed to supplement OCC Bulletin 2013-29 (Third-Party Relationships: Risk Management Guidance) issued on October 30, 2013. The OCC appears to place risk management responsibilities upon banks for such activities conducted by third-party data aggregators.

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10 Top Banking Podcasts You Should be Listening to

Abrigo

Thankfully for bank and credit union executives, lenders, risk managers, and Bank Secrecy Act (BSA) Officers, banking podcasts and podcasts for credit unions are plentiful, and options are growing. Weekly episodes highlight innovators and industry players driving innovation in the financial services industry.

Community 195
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Embracing The Cloud With FIs’ Corporate Clientele On The Line

PYMNTS

Banks have always turned to third-party FinTechs to integrate add-on services for their customers. That’s the trend that led Temenos to reintroduce its Payments Hub solution, first launched in 2013, into the cloud via the Microsoft Azure platform. How do you improve risk management?

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Capital Float On The Path To Video-Based KYC Implementation

PYMNTS

The company was founded in 2013, and its mission is to address India’s enormous credit problem by providing flexible and timely credit delivered via a seamless mobile experience. billion in funding as of April, although the virus’s spread was greatly impacting India’s FinTech space. Capital Float had provided 500,000 clients with $1.2

Video 175
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DHS Updates U.S. Critical Infrastructures Including Payments And Securities Settlement

Tech and Finance

The Financial Services Sector-Specific Plan details how the National Infrastructure Protection Plan risk management framework is implemented within the context of the unique characteristics and risk landscape of the sector,” the department said in its announcement. the departments said in its announcement.