CFPB Monitor

AUGUST 4, 2016

The CFPB has issued its 2016 Plain Writing Act Compliance Report. It also notes that its small entity compliance guides and other documents intended for use by industry in implementing regulations are “written in plain language appropriate for the intended audience.”

Compliance 60

Compliance Report Regulation Taxes 60

CFPB Monitor

JULY 15, 2021

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. Termination.

Risk Management 78

Risk Management Management FDIC Compliance 78

PYMNTS

JANUARY 25, 2018

Treasury management firm BELLIN is expanding its offerings through a new partnership with Kantox , reports in bobsguide said this week. Kantox, based in the European Union, provides FX hedging services and automates FX risk management for corporate treasurers at mid-market firms. “By

Management 100

Management Risk Management Compliance Operations 100

Abrigo

NOVEMBER 19, 2015

Bank Director’s 2016 Bank M&A Survey , sponsored by Crowe Horwath, was recently released and offers insight on current M&A trends in the banking industry. Here are several other highlights from Bank Director’s 2016 Bank M&A Survey: • Only 8 percent of respondents feel the current environment is less favorable for M&A.

Survey 150

Survey Risk Management Industry Compliance 150

PYMNTS

AUGUST 17, 2018

The more bots make their way into the accounting department, the more concerns arise about jobs, compliance, trust and other industry-unknowns. Organizations’ C-Suites and boards of directors will have to invest in these tools, security experts will have to trust them and IT professionals will have to manage them. ”

Compliance 110

Compliance Regulation Tools Industry 110

PYMNTS

JANUARY 24, 2021

One facet of helping with compliance is the automatic recording of journal entries. India uses its Invoice Registration Portal to track business activity and ensure compliance with tax laws. Cygnet FACE will help [small- to medium-sized businesses (SMBs)] get ready for eInvoicing and support their tax compliance needs.

Taxes 178

Taxes Compliance Software Fraud 178

FICO

JUNE 30, 2016

Aggregation and effective use of this data are becoming key to meeting new compliance challenges, not to mention an opportunity to derive additional business value. The final CECL standard was issued on June 17, 2016. In doing so, these institutions would enhance their risk management and decision-making processes.

Compliance 45

Compliance Management Data Risk Management 45

Bank Innovation

FEBRUARY 24, 2016

The panel of judges — Scarlett Sieber of BBVA; Sam Maule of Carlisle & Gallagher; Ryan Falvey of the Center for Financial Services Innovation; Matt Wilcox of Fiserv; and Phil Ryan of Bank Innovation — will decide which company is worthy of the “Best in Show” DEMOvation crown at Bank Innovation 2016.

Innovation 150

Innovation Seattle Fintech Company 150

PYMNTS

MAY 1, 2018

India’s demonetization initiative may have sent shockwaves through the consumer and business community, but for FinTechs, the sudden announcement by Prime Minister Narendra Modi in 2016 presented an open door, as customers suddenly had a massive new incentive to adopt electronic payments solutions.

Management 100

Management Fintech Policies Data 100

Insights on Business

JANUARY 23, 2017

They’re spending about $100 billion a year on compliance efforts. The problem is that traditional technology is not well designed to understand and manage regulatory compliance. Now, however, IBM is applying new technology to the field of regulatory compliance that can highlight critical information faster than any human.

Compliance 70

Compliance Regulation Training Study 70

Bank Innovation

JUNE 23, 2016

Lucy Peng, CEO, Ant Financial Ant’s latest fundraising round – the largest ever anywhere – of $4.5 billion, and its overall valuation of more than $60 billion, have turned the Alibaba spinoff into one of the most valuable private tech companies in the world. Launched in 2014, Ant Financial Read More.

Innovation 284

Innovation Company social media Operations 284

Celent Banking

APRIL 18, 2016

Celent Model Bank 2016 winners are: Model Bank 2016 Categories. Cash Management and Trade Finance. Security, Fraud, and Risk Management. Celent recognized two companies as Model Bank Vendors for 2016: EdgeVerve Systems. Award Winners. Digital Banking Transformation. Citizens Bank, US. DenizBank, Turkey.

US 100

US Case Study Risk Management America 100

PYMNTS

SEPTEMBER 29, 2020

Jumio said it plans to integrate Beam’s AML screening and transaction monitoring services into its KYX platform to help flag financial crime and streamline regulatory compliance. Another key component of the platform is helping companies manage various KYC and AML regulations in different jurisdictions across the world.

San Francisco 153

San Francisco Compliance Regulation cryptocurrency 153

Bank Innovation

MAY 1, 2016

Robinhood: On Target Launched in December 2014, Robinhood is a zero-fee stock trading app that quickly gained popularity among financially ambitious millennials. Robinhood was paid the enormous compliment of having “cracked the millennial code” by none other than Jay Sidhu, CEO of Customers Bank and founder of BankMobile.

Millennials 240

Millennials social media Operations Cards 240

ZootBlog

JANUARY 12, 2016

As a companion to our 2015: Year in Review post, we’ve synthesized some of the trends, challenges and opportunities shaping the financial industry in 2016. It will be interesting to see how banks continue the transition to a more customer-centric approach in 2016. What is your take on where the financial industry is headed in 2016?

Industry 63

Industry Trends Customer Experience blockchain 63

FICO

JULY 31, 2019

As TPRM or third-party risk management grows in importance, so does cybersecurity risk assessment as part of it. The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management. Let’s take a look at these four steps.

Cyber Security 70

Cyber Security Management Security Risk Management 70

Celent Banking

OCTOBER 17, 2016

This year’s Sibos theme was “Transforming the Landscape”, organized around four themes: Banking, Compliance, Culture, and Securities. A selection of Sibos session recordings is available on the Sibos website. With my research focus of Corporate Banking, my discussions focused on three key topics.

blockchain 100

blockchain Conference Compliance Technology 100

CFPB Monitor

JULY 6, 2016

In its Summer 2016 Supervisory Highlights , which covers supervision work generally completed between January and April 2016, the CFPB highlights violations found by its examiners involving automobile origination, debt collection, mortgage origination, small-dollar lending, and fair lending. million to more than 257,000 consumers.

Lending 68

Lending Regulation Compliance System 68

Abrigo

JANUARY 3, 2024

As explained further below, financial institutions should comply with the 2016 regulatory definition of beneficial owners. One important aspect to reconcile between the 2016 CDD rule and the new final rule is the definition of the “control” prong. It also has a Small Entity Compliance Guide for BOI reporting.

Fraud 221

Fraud Regulation Report Compliance 221

PYMNTS

JANUARY 7, 2021

A representative for AmEx told WSJ, “We have robust compliance policies and controls in place, and do not tolerate misconduct.” The representative noted that the company has been “cooperating with a regulatory review of small business card sales between 2015 and 2016” as of the spring of 2020, according to the paper. “We

Cards 242

Cards FDIC Policies Risk Management 242

CFPB Monitor

DECEMBER 17, 2015

The CFPB’s Deputy Assistant Director for origination recently warned mortgage lenders of the four main examination priorities for 2016—loan originator compensation plans, the ability-to-repay rule, the TILA-RESPA Integrated Disclosures (TRID) rule , and marketing service agreements. Matthew Smith and Richard J. Andreano, Jr.

Compliance 60

Compliance Regulation Training California 60

PYMNTS

OCTOBER 5, 2018

That’s according to findings from Duff & Phelps, which through its Global Enforcement Review (done through its compliance and regulatory consulting practice), said that total penalties have climbed by 30 percent from 2015 to 2017, to $26.5 million euros in 2016 to 2.9 billion over the corresponding period.

Regulation 128

Regulation US United States Compliance 128

Bank Innovation

MAY 9, 2016

We can all agree Credit Karma, Chase Mobile, Bank of America, Wells Fargo, and PayPal aren’t leaving the Top Ten on App Annie anytime soon. But ratings and rankings aren’t everything — there’s also the cool factor. How easy is the app to use? Does it makes us feel good (even Read More.

America 150

America Mobile US social media 150

Bank Innovation

FEBRUARY 23, 2016

When we think of cool, James Dean doesn’t immediately come to mind. The app Songsterr does. We are proud fintech nerds, and for five years we have marked the Coolest Brands in Banking on Bank Innovation based not on the type of sunglasses worn by a CEO, but on the Read More.

Branding 150

Branding Innovation Fintech social media 150

CFPB Monitor

MARCH 10, 2016

In its Winter 2016 Supervisory Highlights , which covers supervision work generally completed between September and December 2015, the CFPB highlights violations found by CFPB examiners involving consumer reporting, debt collection, mortgage origination, remittances, and student loan servicing. million to more than 228,000 consumers.

Report 60

Report Policies Compliance System 60

Abrigo

FEBRUARY 29, 2016

Two-thirds of bankers in a recent poll said their allowance for loan and lease losses (ALLL) is primarily calculated by only one or two people in the institution, according to Sageworks, a financial information company that provides loan portfolio and risk management solutions to banks and credit unions.

Risk Management 150

Risk Management Resources Compliance Survey 150

FICO

JANUARY 3, 2017

With 2016 recently coming to a close, we took a look back to uncover which topics you – our blog readers – gravitated toward last year. Chief among your interests were analytic innovation, credit risk, regulatory compliance, customer experience and mobile payments. Your Customer Experience Management Is SO Immature!

Analytics 53

Analytics Customer Experience Mobile Innovation 53

FICO

AUGUST 1, 2018

Luckily, Decision Management (DM) technology has been invented and has come a long way since AC/DC released this epic anthem in 1975. With solutions like the FICO Decision Management Platform (DMP), the journey from novice to rockstar can be faster than a speed metal riff. trillion. Merchant Onboarding: The need for speed.

Management 58

Management DC Examples Customer Experience 58

PYMNTS

APRIL 23, 2018

American Express’ corporate travel unit, Global Business Travel (GBT), is integrating Lyft as the latest ride-sharing service supported by the business travel booking and expense management solution. Users can also take advantage of integrated data from Lyft trips and payments for reporting, compliance, analysis and duty of care.

Compliance 117

Compliance Risk Management Management Analysis 117

CFPB Monitor

NOVEMBER 7, 2016

In its Fall 2016 Supervisory Highlights , which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto financing, debt collection, mortgage origination and servicing, student loan servicing, and fair lending.

Lending 83

Lending Report Regulation Policies 83

PYMNTS

JUNE 12, 2019

Enterprise spend management company Ivalua is launching its solution designed for the public sector as criticism mounts over the firm’s contract with New York City. In a press release Tuesday (June 11), Ivalua announced the launch of its pre-packaged suite of spend management solutions designed for state and local governments.

Tools 108

Tools New York City New York Management 108

PYMNTS

OCTOBER 5, 2018

That’s according to findings from Duff & Phelps, which through its Global Enforcement Review (done through its compliance and regulatory consulting practice), said that total penalties have climbed by 30 percent from 2015 to 2017, to the latter’s $26.5 million euros in 2016 to 2.9 billion over the corresponding period.

Regulation 100

Regulation US United States Compliance 100

PYMNTS

APRIL 16, 2018

HP is reportedly stepping into the cannabis industry with a new partnership to provide businesses with financial management software, according to The Washington Post. The tools will offer point-of-sale (POS) hardware and software, as well as other business management tools. The publication cited data from Cowen & Co.

Software 102

Software Marketing Washington Compliance 102

CB Insights

FEBRUARY 13, 2017

Deals to regtech startups have progressively risen over the last 5 years and hit a new high in 2016 with 99 deals (as of 12/31/16). Startups in this space are using technology to simplify and streamline compliance, risk management, reporting, data … Continued.

Compliance 32

Compliance Risk Management Data Management 32

CFPB Monitor

AUGUST 31, 2016

The CFPB has issued its August 2016 complaint report which highlights complaints about bank accounts or services and complaints from consumers in Ohio and the Columbus metro area. In February 2016, the CFPB held a field hearing on checking account access. In March 2016, the CFPB began accepting complaints about federal student loans.

Ohio 60

Ohio Report Columbus Wyoming 60

PYMNTS

NOVEMBER 15, 2018

Opus, the provider of global compliance and risk management solutions, announced Thursday (Nov. the percentage of companies that faced a data breach because of a vendor or third party was higher at 61 percent, which is up 5 percent from last year and 12 percent from 2016. Opus said that in the U.S., Opus said that in the U.S.,

Data 195

Data Risk Management Resources Survey 195

FICO

MARCH 31, 2016

As FICO’s premiere client conference, FICO World 2016 , heads to the nation’s capital at the end of next month, it is not surprising that regulatory compliance strategies and solutions will be a hot topic of discussion. Model management continues to present financial institutions with new compliance obstacles.

Compliance 40

Compliance DC Washington Regulation 40