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. At least at first, the regulations place requirements only on larger companies.

Taxes 178

Taxes Compliance Software Fraud 178

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. Working with regulators will be a “necessary step to building the technology in the way we want to develop and deploy it,” he said. . ”

Compliance 110

Compliance Regulation Tools Industry 110

PYMNTS

SEPTEMBER 29, 2020

29) announced a deal for the AML platform of Beam Solutions , a San Francisco-based startup that focuses on transaction monitoring and helping financial companies comply with KYC regulations. 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

Insights on Business

JANUARY 23, 2017

Today, banks are dealing with an overwhelming morass of regulations – more than 20,000 new ones in 2015 alone. By the year 2020, there may be 300 million pages of banking regulations. Wouldn’t it be nice if the specific regulations that applied to your business were highlighted? We call it cognitive compliance.

Compliance 70

Compliance Regulation Training Study 70

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

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

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

PYMNTS

SEPTEMBER 17, 2018

The regulator doesn’t have the power to slap Credit Suisse with fines, noted the report. FINMA said the manager violated the bank’s compliance regulations several times over the past few years.

Georgia 143

Georgia Regulation Maine Policies 143

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. A DIY Approach To AML/KYC. Following a joint investigation with U.S.

How To 161

How To Regulation Compliance Meeting 161

PYMNTS

JULY 17, 2019

The second Payment Services Directive ( PSD2 ) groundwork laid out in 2016 is about to come to fruition in a few months – Sept. PSPs (payment service providers) and issuers are up-to-date on the regulations tied to SCA, because they are the ones ultimately on the hook if they are not compliant. 14, 2019, to be exact. For example, U.K.-based

Retail 162

Retail User Experience Compliance Regulation 162

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

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

Abrigo

JULY 7, 2021

Key points in this article include: Risks exist in states where canabis is illegal > LEARN MORE Ensuring compliance when not servicing CRBs > LEARN MORE Determine your tier of acceptance > LEARN MORE Banking hemp vs. marijuana vs. CBD > LEARN MORE The gray area of banking CBD > LEARN MORE.

Compliance 195

Compliance Operations Regulation United States 195

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

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

Abrigo

APRIL 20, 2016

With the pressures of changing regulations and data security continuing to increase, banks and credit unions must remain vigilant when it comes to their data. One of the changing regulations is FASB’s move to a current expected credit loss (CECL) model. Management 3. Only 31 percent said they were archiving loan level detail.

Data 150

Data Compliance Regulation Security 150

ABA Community Banking

DECEMBER 7, 2015

Regulators will be more active, says KBW expert Management Compliance Risk Management Compliance Management Compliance/Regulatory.

Risk Management 40

Risk Management Compliance Regulation Management 40

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

Abrigo

JANUARY 9, 2017

With the 2016 release of the Financial Accounting Standards Board’s (FASB) guidance on the Current Expected Credit Loss ( CECL model ), banking professionals and consultants have been theorizing about the impact the standard will have on current bank processes.

Analysis 150

Analysis Policies Compliance Meeting 150

FICO

MARCH 31, 2016

During this period of Congressional gridlock, much of the activity in Washington DC impacting the financial services industry remains focused on the development and implementation of new regulations. Here’s a very brief overview of what we’ll cover: Stress testing is a key area of emphasis for regulators around the globe.

Compliance 40

Compliance DC Washington Regulation 40

PYMNTS

JULY 6, 2017

Reports Wednesday (July 5) said the FSB released the results of a survey that found banks across the globe are reducing the number of correspondent banking relationships, used for cross-border payments, as they grow increasingly concerned about falling out of compliance with anti-money-laundering and other regulations.

Report 100

Report Compliance Regulation America 100

CFPB Monitor

OCTOBER 6, 2016

On September 30, the CFPB released updated examination procedures for Military Lending Act (MLA) compliance. Compliance with the final rule amending the MLA, issued by the Department of Defense (DoD) in July 2015, was required for creditors of most consumer credit products as of this past Monday, October 3.

Compliance 99

Compliance Lending Policies Training 99

Celent Banking

MARCH 30, 2016

Last week, I participated in a Finextra webinar on the topic of “Connected Credit and Compliance for Lending Growth” with panelists from ING, Vertus Partners, Misys and Credits Vision. Cost of compliance. Changing client expectations. Competition from new entrants.

Lending 100

Lending Compliance Training Capital 100

Independent Banker

JULY 28, 2016

Establishing a comprehensive Compliance Management System. Does it sound like “reality compliance”? The demands of managing regulatory compliance are uncontested, and depending on the disposition of the participants inside and outside of the bank, compliance management exists with varying degrees of problems and adversity.

Compliance 70

Compliance Training Community Bank Regulation 70

PYMNTS

JUNE 15, 2018

In the Middle East , RAK Bank has said it will offer Sage accounting software to business banking customers, in an agreement that helps those firms manage value-added tax (VAT) compliance mandates. That’s up markedly from 69 in 2016, as estimated by that association. That number now stands at 8,600 individuals.

Fintech 115

Fintech Compliance Software Taxes 115

FICO

DECEMBER 21, 2016

That means 2017 should be a risky year from a compliance standpoint. To help in those efforts, regulators are requiring firms to improve their KYC programs with more detailed data and advanced analytics. Today, it’s really only Tier 1 banks that use analytics in AML, KYC and tax compliance areas. We expect that to change.

Compliance 40

Compliance Analytics Taxes Groups 40

PYMNTS

JANUARY 23, 2019

According to the announcement , ING will be allowed to access Corda Enterprise and deploy Corda applications across its global back-office operations, including trade finance, insurance, identity management and more. Regulators were probing the institution on suspicion of failing to report suspicious transactions in a timely fashion.

blockchain 128

blockchain Tools Compliance Operations 128

ZootBlog

JANUARY 14, 2016

Over the past several years as banks focused on staying in compliance with myriad new regulations, innovation slowed—nearly to a standstill. In 2016 equilibrium will start to take place as the financial industry embraces the tremendous potential technology holds for them and innovation finds its way back.

Innovation 73

Innovation Industry blockchain Customer Experience 73

CFPB Monitor

APRIL 15, 2019

A memorandum issued by the Office of Management and Budget entitled “Guidance on Compliance with the Congressional Review Act” creates a new “speed bump” for final rules issued by the CFPB as well as other independent regulatory agencies such as the Federal Reserve, the FCC, the FDIC, the FTC, and the OCC.

Compliance 68

Compliance Analysis FDIC Report 68

CFPB Monitor

OCTOBER 20, 2016

On October 17, the FDIC released revised interagency Military Lending Act (MLA) examination procedures for use in connection with consumer credit transactions occurring on or after October 3, 2016. The FDIC also provided guidance on its initial supervisory expectations for examinations relating to MLA compliance.

FDIC 60

FDIC Compliance Training Lending 60

PYMNTS

DECEMBER 8, 2016

businesses are attracted to digital invoicing for a slew of financial benefits: faster, more efficient accounts payable and reconciliation processes, a reduction in the threat of errors due to manual data entry and ability to capture early payment discounts thanks to an accelerated invoice management process. In the U.S., Still, U.S.

Compliance 100

Compliance Regulation Taxes Fraud 100

Abrigo

NOVEMBER 18, 2016

In a survey of community banks and credit unions at the 2016 Sageworks Risk Management Summit, 42 percent of respondents said Commercial Real Estate, or CRE, lending was their primary focus for loan portfolio growth. Learn more about the Sageworks Credit Risk Management Solution. This reflects a larger industry trend.

Community Bank 150

Community Bank Handbook Lending Risk Management 150

Abrigo

DECEMBER 11, 2014

In September, the Office of the Comptroller of the Currency (OCC) published final guidelines designed to “strengthen the governance and risk management practices of large financial institutions.” Assess risk management structures. Update the scope and frequency of risk management reporting. 10, 2014 effective date.

Community Bank 207

Community Bank Community Guidelines Risk Management 207

CFPB Monitor

OCTOBER 26, 2016

The CFPB has reissued its guidance on service providers which was formerly titled CFPB Bulletin 2012-03 , and as published in the Federal Register on October 26, 2016, is now titled “Compliance Bulletin and Policy Guidance 2016-02.” ”

Risk Management 60

Risk Management Policies Compliance Exercises 60

Independent Banker

DECEMBER 13, 2015

New Military Lending Act regulations kick in next fall. 1, 2015, and compliance with the rule is required by Oct. Credit card accounts are exempt from compliance until Oct. Transactions not covered by Regulation Z are excluded from coverage under the rule. 3, 2016, compliance date. By Mary Thorson Wright.

Lending 70

Lending Compliance Regulation Virginia 70

CFPB Monitor

APRIL 15, 2019

A memorandum issued by the Office of Management and Budget entitled “Guidance on Compliance with the Congressional Review Act” imposes a new review process on final rules issued by the CFPB and other independent regulatory agencies such as the Federal Reserve, the FCC, the FDIC, the FTC, and the OCC.

Compliance 60

Compliance Analysis FDIC Report 60

PYMNTS

JANUARY 9, 2019

According to Financial Times , Parakilas monitored privacy and policy compliance of software developers for Facebook for 18 months before he left in October of 2012. Financial Times highlighted a 2016 blog post in which Parakilas warned about the impact of social media. “We

Apple 122

Apple social media Google Policies 122