PYMNTS

FEBRUARY 24, 2020

Financial institutions (FIs) and merchants from other regions have been dipping their toes into the Chinese market, but open banking has compounded the difficulty involved in setting up operations. The country’s government and regulators are keeping pace with those in the European Union and the U.S.

Regulation 160

Regulation Policies Data Compliance 160

PYMNTS

NOVEMBER 6, 2017

The Social Security number (SSN) was never meant to get this much attention. In a wide-ranging discussion, Socure CEO Sunil Madhu and PYMNTS’ Karen Webster discussed the brave new world of identity security and verification, and what those terms mean when it should be assumed that all of your data has been compromised. Think again.

Security 109

Security Data Fraud Regulation 109

PYMNTS

JUNE 24, 2020

The B2B firm said it works with “leading money transfer operators, mobile wallet operators and financial institutions to facilitate digital transactions without borders,” and is regulated in more than 45 countries around the world. That’s up from $601 billion in 2016.

Payments 243

Payments Fintech Course Operations 243

PYMNTS

JANUARY 30, 2018

Regardless of where blockchain makes its mark, what is certain is that corporates have to trust that a largely unfamiliar innovation will work the way it should; that means securely, efficiently and easily. billion raised via controversial initial coin offerings (ICOs) have been lost to lapses in security, including phishing attacks.

blockchain 144

blockchain Security Software Tools 144

PYMNTS

AUGUST 18, 2016

The financial messaging service known as SWIFT — which operates as a bank-owned consortium and helps payments in the billions of dollars move globally — has been beset by security flaws, has known about those flaws and has done little to address those flaws. So reported Reuters on Wednesday (Aug.

Security 100

Security Software New York System 100

PYMNTS

JANUARY 24, 2021

At least at first, the regulations place requirements only on larger companies. Niraj Hutheesing , founder and managing director of Cygnet Infotech said in a prepared statement: “Cygnet Infotech is an established GST Suvidha Provider since 2016, and has developed comprehensive solutions for GST, eWay Bill, and other tax compliance solutions.

Taxes 178

Taxes Compliance Software Fraud 178

PYMNTS

MAY 30, 2016

And to make sure that everyone starts off 2016, Part II on the same footing, we thought we would bring you a few of the top trending stories, as well as hot data/research topics, that will give you a head start on that all-important planning for 2016 and beyond. Secure Convenience: The New Password Death March? Digital Identity.

Trends 100

Trends Retail Fraud Mobile 100

CFPB Monitor

MARCH 30, 2020

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes the following key provisions that affect financial institutions and regulation of financial institutions: Section 4003 – Emergency Relief and Taxpayer Provisions.

Regulation 122

Regulation United States Community Bank National 122

PYMNTS

JANUARY 24, 2020

Wells Fargo ’s woes, which began in earnest in 2016 when a scandal involving millions of fake accounts created to boost numbers came to light, are continuing and don’t show any signs of abating any time soon, according to a report by Reuters. Wells Fargo also has to repay customers for what it cost them by abusing some of them.

Regulation 180

Regulation Community Examples Security 180

CFPB Monitor

MARCH 3, 2016

Last August, we blogged about a Third Circuit decision that held the FTC can regulate cybersecurity policies and procedures as “unfair” acts or practices under Section 5 of the FTC Act. The CFPB’s announcement yesterday of its first data security enforcement action demonstrates that our concerns were well-founded.

Security 60

Security Data Policies Regulation 60

Celent Banking

JUNE 15, 2016

The panelists were Paolo Cederle, CEO, UniCredit business integrated solutions; Christophe Chazot, group head of innovation, HSBC; and Damian Pettit, RBS head of payment operations. But the panelists overwhelmingly agreed that convenience and speed cannot come at the cost of security–safety and security is absolutely paramount.

Payments 100

Payments blockchain Technology Security 100

PYMNTS

MARCH 18, 2019

As such, the regulators and FIs seeking to crack down on these activities have their work cut out for them. . Rethinking Security Strategies . FIs that fail to catch illicit activities miss opportunities to hamstring such operations and unwittingly help fund them. Financial and Ethical Security Strategies.

Compliance 181

Compliance Regulation Chicago Tools 181

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

PYMNTS

JULY 22, 2016

It’s even more surprising given that 2016 could be the year that regulation begins to really kick in for these lenders — in the U.S., based ZipBooks will help the small business accounting startup strengthen the underwriting process for its SME finance operations, reports announced on Wednesday (July 20).

Lending 100

Lending Regulation Big Data Risk Management 100

PYMNTS

FEBRUARY 25, 2020

A “future bank” focused solely on providing regulated services for digital assets is preparing to start, according to Coindesk on Monday (Feb. Because trust companies can’t custody securities in the U.S., 20, which would introduce new standards and rules for how crypto businesses operate. The company was formed Jan.

NJ 130

NJ New Jersey Bitcoin blockchain 130

Independent Banker

JULY 31, 2022

Locality Bank, a digital-first community bank serving south Florida that opened in January, is run by industry veterans with such successful track records that regulators signed off on their application for a charter in less than a year. from 2016 until its sale in 2018. Location: Fort Lauderdale, Fla. Built on a solid foundation.

Florida 91

Florida Community Bank Community FDIC 91

PYMNTS

MARCH 12, 2019

The Australian Securities and Investments Commission (ASIC) is criticizing top Australian banks for what the regulator said is an inefficient process of reviewing internal systems that allowed the banks to charge excess fees to customers. Reports said analysts believe most of those cases relate to those advisory fees.

Regulation 108

Regulation National Resources Security 108

PYMNTS

JANUARY 24, 2020

Wells Fargo ’s woes, which began in earnest in 2016 when a scandal involving millions of fake accounts created to boost numbers came to light, are continuing and don’t show any signs of abating any time soon, according to a report by Reuters. Wells Fargo also has to repay customers for what it cost them by abusing some of them.

Regulation 130

Regulation Community Examples Security 130

PYMNTS

NOVEMBER 6, 2019

Bank of America has teamed with IBM and its regulatory compliance arm, Promontory Financial Group, to create a cloud computing platform that has privacy, security and regulatory banking compliance protocols built in, according to a report by American Banker. There is not enough focus on those specific control requirements for the industry.”.

Compliance 101

Compliance Groups America Security 101

PYMNTS

NOVEMBER 26, 2018

The equivalence framework will govern a large chunk of financial services, and where the EU can judge whether a third country’s regulations are strong enough to allow that firm to operate within the EU. In terms of cross-border activity, lenders that operate with the U.K. as their home base must have EU subsidiaries in place.

US 146

US United States Regulation cryptocurrency 146

PYMNTS

SEPTEMBER 18, 2017

In the wake of the massive data breach at Equifax , the embattled credit scoring company announced that the Chief Information Officer, David Webb, and the chief security officer, Susan Mauldin, will both retire. The stolen data included Social Security numbers, birth dates and other personal information.

Security 165

Security Data Fraud Report 165

PYMNTS

MARCH 1, 2018

Going from that PoC in 2016, we’re at the tipping point of getting our customers involved in live transactions in the coming weeks and months,” Kroeker said. We’re much more comfortable with its security and scalability.”. According to Wednesday (Feb. The technology has come a long way.

blockchain 198

blockchain Technology Tools Regulation 198

PYMNTS

OCTOBER 23, 2018

Open Banking regulations have gotten FinTech innovators’ brains churning over how to take advantage of the troves of data that traditional banks have typically kept locked away. With regulations like PSD2 and Open Banking emerging as ways to boost financial services competition, the bank-FinTech relationship has taken center stage.

Data 177

Data System Regulation Security 177

Abrigo

FEBRUARY 3, 2020

Financial institutions generally are moving away from self-managed, on-premise technology and are finding hosted solutions that provide the security and scalability they need. Creating more efficient operations and improving customer experiences are the goals driving technology strategies and investments at many U.S.

Resources 150

Resources Security Customer Experience Fraud 150

PYMNTS

DECEMBER 3, 2018

As GDPR continues to take root, having an impact in Europe and beyond the confines of the continent, news came late last month that the European Data Protection Board has published draft guidelines that touch on the data protection regulation’s territorial scope. The fines stem from data breaches against the company that came in 2016.

Guidelines 172

Guidelines blockchain Data Regulation 172

PYMNTS

DECEMBER 26, 2018

and China, local Chinese vendors operating in Yiwu International Trade City are upbeat about 2019. The Securities and Exchange Commission and various state regulators have been investigating more than 90 cryptocurrency cases in which investors lost money. Local China Merchants Upbeat About 2019 Cross-Border Sales.

Compliance 108

Compliance cryptocurrency Regulation Security 108

PYMNTS

MARCH 18, 2019

A new study by the Organisation for Economic Co-operation and Development (OECD) shows that trading in pirated and counterfeit goods has risen significantly, according to a report in the Financial Times. The value of fake and counterfeit products went from $461 billion in 2013 to $509 billion in 2016. That’s an increase of 3.3

Report 124

Report Innovation Study Security 124

PYMNTS

FEBRUARY 26, 2019

bitcoin — is just a small portion of the amount stolen by hackers in August 2016. Meanwhile, South Korean cryptocurrency exchange Coinbin has declared bankruptcy after losing millions of dollars due to “increased debt” and “government regulation.” That amount — totaling 27.7 Reports said Coinbin has suffered estimated losses of ?29.3

Bitcoin 109

Bitcoin blockchain Report cryptocurrency 109

PYMNTS

JANUARY 18, 2017

The National ATM Council (NAC) argued in testimony to the Committee on Consumer Affairs of the New York City Council last week that a proposed ordinance would impose costly and burdensome new security regulations on ATM operators all around the city. said Renard in the same press release.

ATM 100

ATM National New York City New York 100

PYMNTS

JULY 5, 2020

The German payment processing company’s operating performance in Europe and the Americas was far worse than previously known, according to a report from KPMG, the Netherlands-based global accounting firm, obtained by the newspaper. But such profits did not exist, the Times reported. million) in 2017, the KPMG report revealed.

Payments 170

Payments Cards America Report 170

PYMNTS

OCTOBER 21, 2016

billion in 2016 to $27.9 According to MarketsandMarkets, the increasing need for operational efficiency is expected to be the primary driver for the fleet management market during the forecast period. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. billion by 2021 at a CAGR of 23.9

Management 100

Management Marketing Regional System 100

PYMNTS

SEPTEMBER 25, 2018

The report noted that there is no internationally agreed-upon definition of what that activity might be, but for the confines of the report, it includes “all credit activity facilitated by electronic [online] platforms that are not operated by commercial banks.”

Fintech 172

Fintech Lending United States Regulation 172

PYMNTS

APRIL 29, 2019

Securities and Exchange Commission has appointed members to its newly-formed Small Business Capital Formation Advisory Committee as it works to support small business access to capital. The committee, which is the result of the 2016 SEC Small Business Advocate Act, will meet for the first time in early May, according to reports.

Capital 108

Capital Lending Regulation Report 108

PYMNTS

MARCH 16, 2018

regulators’ investigations into Wells Fargo ’s sales practices has expanded into the financial institution’s wealth management operations, according to news from The Wall Street Journal. Wells disclosed the investigation as part of a 10K filing with the SEC, reports said.

Management 101

Management Conference Regulation Report 101

CB Insights

OCTOBER 2, 2018

Facebook, Amazon, Microsoft, Google, and Apple (FAMGA) are doubling down on data security. Effective data security features are critical to securing this information. However, Facebook and Amazon are not the only Big Tech companies with a need to innovate in data security. The Future of Data Security.

Security 58

Security Data US Google 58

PYMNTS

JANUARY 22, 2020

Below, PYMNTS examines the latest in commercial card innovation, regulation and disruption. Mint’s 600,000 payroll card users in the market will be migrated under Edenred operations, and will gain access to Edenred’s existing suite of services — including the C3 payroll and debit card tool, and its connected mobile application.

Cards 131

Cards New York Lending Strategy 131

PYMNTS

JUNE 10, 2019

The FSB announced Friday the findings of its analysis of Basel III regulations on the small business lending space. Some regulators aimed to mitigate that impact. Some regulators aimed to mitigate that impact. As such, the FSB said it does not expect to introduce any new industry regulations.

Lending 100

Lending Capital Regulation Survey 100