PYMNTS

DECEMBER 7, 2020

Here’s the latest news from the technology industry, which is coming under increasing scrutiny from governments around the world. UK Regulations to Create New Digital Markets Unit. antitrust regulators are creating a Digital Markets Unit that will be given the duty to enforce rules applicable to Big Tech firms.

Apple 143

Apple Regulation Taxes Marketing 143

PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. Cloud-based KYC activities were among the new technologies most used by U.S.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

PYMNTS

SEPTEMBER 17, 2018

Technology adoption is at an all-time high for this industry, according to Teletrac Navman’s recent Telematics Benchmark Report: U.S. The problem is that certain technologies struggle to gain traction within fleet operations. Below, PYMNTS takes a look at some of the latest data in fleet technology adoption.

Compliance 139

Compliance Industry Technology Data 139

PYMNTS

DECEMBER 17, 2018

Australian challenger bank Judo Capital has chosen VERMEG , a leading banking and insurance software solution company, to meet its Australian Prudential Regulation Authority (APRA) reporting requirements as it pursues its full banking license. “Regulatory reporting is an essential function for Judo.

Capital 116

Capital Compliance Report Software 116

Insights on Business

JANUARY 22, 2018

As we enter a new year, uncertainty in the risk and compliance landscape is as evident as ever. The amount of regulations and pace of change continues to be overwhelming. Topics that will be discussed are: How will FinTech innovation shape the compliance and risk management landscape for regulated firms? Register here.

Compliance 105

Compliance Risk Management Meeting Regulation 105

Insights on Business

MAY 1, 2019

While deregulation has been a trend over the past few years, compliance monitoring and regulatory change management remains a top focus for financial institutions of all sizes. Greater availability of data, facilitated by real-time integrations makes it possible for compliance experts to monitor a wide variety of sources.

Compliance 122

Compliance Management Regulation Analysis 122

Insights on Business

JANUARY 25, 2019

Looking at the top five blog entries of 2018, we see that using technology to meet the ever-increasing scale and rate of regulatory change is top of mind for financial service organizations. As Marc Andrew’s notes in his blog, Demystifying AI for risk and compliance , in 2018, we saw AI tackle exhausting regulatory requirements.

Marketing 79

Marketing blockchain Compliance Innovation 79

PYMNTS

SEPTEMBER 3, 2019

eCommerce firms are navigating a tax collection environment that increasingly requires technology and automation to ensure compliance. 2018: The year of the Supreme Court decision in the South Dakota vs. Wayfair case. All this, Today in Data. Data: 8,000: Square footage of The North Face’s recently opened store in Soho.

Taxes 122

Taxes South Dakota Technology New York 122

Insights on Business

FEBRUARY 27, 2018

A common assumption in risk and compliance is that financial institutions typically have to spend more to meet their regulatory obligations. To achieve this, IBM and Promontory Financial Group are at the forefront of applying cognitive technology to regulatory demands. “Meaning, [regtech] is a teammate.

Compliance 98

Compliance Risk Management Management Regulation 98

CFPB Monitor

FEBRUARY 26, 2019

The FTC has sent its annual letter to the CFPB reporting on the FTC’s activities related to compliance with the Equal Credit Opportunity Act and Regulation B. In 2018, the FTC began a series of public hearings called “FTC Hearings on Competition and Consumer Protection in the 21 st Century.” Auto buyer study.

Report 87

Report Study Analytics Lending 87

PYMNTS

FEBRUARY 20, 2019

It will also help us bring more cryptocurrencies and features to more people, while helping ensure compliance with local laws and regulations.” ” In other news, new information has shown that Bitmain lost about $500 million in the third quarter of 2018.

Bitcoin 164

Bitcoin cryptocurrency blockchain United States 164

Insights on Business

FEBRUARY 15, 2018

New methodologies and technologies such as artificial intelligence are empowering firms to finally gain control of their risk and compliance efforts. Transforming the way compliance departments operate to meet the new reality requires an investment in technology.

Las Vegas 87

Las Vegas Compliance NV Meeting 87

PYMNTS

OCTOBER 5, 2020

Retailers must protect customers’ card data from hackers who try to snatch payment details, and following best practices to ensure security requires adhering to the regulations established by the PCI SSC, a global payments industry forum. Compliance Complexities. Orchestrating A Solution.

Cards 207

Cards Data Compliance Payments 207

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

Abrigo

JUNE 10, 2020

LaFontaine failed to take sufficient action when presented with significant AML program deficiencies in the Bank’s SAR-monitoring system and the number of staff to fulfill the AML compliance role by his AMLO [AML Officer],” the document said. The regulators don’t care what your budget is,” Luttrell says. Get adequate resources.

Resources 195

Resources Regulation Compliance Policies 195

Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

Regulation 195

Regulation cryptocurrency Policies Management 195

Perficient

AUGUST 16, 2020

However, you may not know that there are certain rules/regulations that must be accounted for so you can remain compliant with FCC regulations. This law was signed on February 16, 2018, and officially went into effect on February 16, 2020. On March 23, 2018, the President signed the RAY BAUM’S Act into law.

System 348

System Regulation Texas Compliance 348

PYMNTS

JANUARY 31, 2019

NACHA recently released new figures on ACH network volume, revealing earlier this week that Same-Day ACH volume grew 46 percent between Q4 2017 and Q4 2018, surpassing 50 million transactions for the first time. Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S.

Fraud 182

Fraud Payments Compliance Regulation 182

Abrigo

MARCH 7, 2022

Experts weigh in on regulatory hot topics for 2022 Review these 10 insights into what regulators are looking for in 2022 to help your financial institution pass exams with flying colors. Takeaway 1 Regulators have increased their focus on BSA in the first quarter of 2022, and the crisis in Ukraine will put OFAC in the spotlight.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 195

PYMNTS

NOVEMBER 30, 2020

In today’s top payments news around the world, United Kingdom-based food delivery platform HungryPanda has landed $70 million in funding, while Sweden-based Klarna is launching the live fashion show “Lifestyle” with the help of technology from Bambuser. Growing HungryPanda Notches $70 Million In Funding. and the U.K.

Payments 139

Payments Regulation Video Cards 139

Insights on Business

MARCH 5, 2019

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. The question is, how to do this, while keeping the regulators happy? Even better, regulators have recently begun encouraging the application of these techniques.

Regulation 70

Regulation Compliance Analysis Innovation 70

Abrigo

FEBRUARY 27, 2020

Our Transparent AI is easy to explain to regulators. . The Financial Crimes Enforcement Network (FinCEN), along with the Federal Banking Agencies, released a joint statement in December 2018 emphasizing financial institutions’ need to embrace technology to strengthen their BSA/AML programs.

Innovation 195

Innovation Software United States Compliance 195

PYMNTS

JULY 5, 2018

According to the World FinTech Report 2018 , published by Capgemini and LinkedIn earlier this year, “financial services customers have greater trust in the brands of traditional firms versus those of FinTechs.” Maintaining compliance and security , though, must be at the top of the priority list, according to Stemmle and Kull.

Compliance 109

Compliance Fintech Marketing Security 109

Insights on Business

JUNE 20, 2018

In today’s global marketplace, financial services firms must grapple with competition, increasing regulation and market volatility while also maintaining profitability and growth in a world disrupted by emerging technologies and fintechs. The new advances in our portfolio include: Next-Gen Governance, Risk, and Compliance.

Regulation 70

Regulation Compliance Analytics System 70

PYMNTS

OCTOBER 30, 2020

billion of these payments in 2018 alone for a total of $97.04 Slow compliance checks and sluggish processing times are commonplace, especially on the legacy systems still used by many banks around the world. Automating Compliance. Cash payments are quickly falling to the wayside, with only 26 percent of all U.S.

Operations 228

Operations Payments Compliance System 228

PYMNTS

FEBRUARY 4, 2019

A series of regulations was established to encourage a safer, more transparent financial services environment following the 2008 financial crisis. Failure to meet AML/KYC requirement challenges can be costly for FIs, too, with regulators issuing heavy fines for lax security practices or failure to devote sufficient resources to oversight.

How To 161

How To Regulation Compliance Meeting 161

PYMNTS

DECEMBER 28, 2018

It has been a busy year for the world of bank regulations, particularly Know Your Customer (KYC). Financial services regulations are notorious for their complexity and ever-changing demands for financial institutions and corporates, but another fuel for development in the KYC space was the FinTech community.

Compliance 186

Compliance Regulation blockchain Taxes 186

PYMNTS

MARCH 4, 2020

The bank also inadequately staffed the BSA compliance function. . “Mr. LaFontaine was warned by his subordinates and by regulators that capping the number of alerts was dangerous and ill-advised. FinCEN encourages technological innovations to help fight money laundering, but technology must be used properly.” .

US 130

US Regulation cryptocurrency Resources 130

Abrigo

MARCH 24, 2021

Anti-Money Laundering Act of 2020 BSA professionals should prepare for changes as new regulations and guidance from FinCEN unfold. Takeaway 2 While the AMLA is now law, regulations, guidance, and other information still needs to be written. These include conducting studies, writing regulations, and publishing guidance.

Regulation 195

Regulation Training Study Policies 195

PYMNTS

FEBRUARY 24, 2020

billion-strong, high-spending consumers and their willingness to adapt to new technologies, trends and products may represent the economy of the future for many banks and businesses, but it is notoriously difficult for firms to enter and compete in this market. Confronting the Chinese Privacy Myth .

Regulation 160

Regulation Policies Data Compliance 160

PYMNTS

JUNE 25, 2018

However, for many financial services firms, RegTech’s (Regulatory Technology) potential is limited by any number of causes. Among those factors: the cultural hallmarks of the organizations adopting such technologies. At the same time, risk and compliance professionals still are inundated with manual tasks.

Risk Management 167

Risk Management Strategy Management Compliance 167

PYMNTS

DECEMBER 14, 2018

News came earlier in the month that several federal agencies have come out — together — in support of banks embracing innovation in their compliance efforts. Thus, said the agencies, banks should eye technology, and should endeavor to “consider, evaluate, and where appropriate, responsibly implement innovative approaches in this area.”

Compliance 148

Compliance Innovation FDIC Examples 148

PYMNTS

FEBRUARY 7, 2019

GDPR , which came into effect in May of 2018, offers some roadmap for PSD2, as companies grapple with data protection, storage and sharing. firms surveyed stated that non-compliance with GDPR could affect their reputations. Consider some stats from that January PSD2 Tracker report: 56 percent of U.K.

Guidelines 190

Guidelines Data Compliance Regulation 190

PYMNTS

FEBRUARY 9, 2017

8) said the company is rolling out its PSD2 Open Banking Solution, aimed at reducing the cost of compliance to PSD2 regulations. 2018 to comply with the new rules, are at the same time pressured to promote innovation and enable faster, more agile payment services, Capgemini said. An announcement Wednesday (Feb.

Compliance 100

Compliance Innovation Regulation Payments 100

FICO

NOVEMBER 13, 2018

Collection departments have been long accustomed to dealing with the ever-growing list of requirements from industry regulators. Creditors cannot ignore how third-party servicers treat customers, and those third parties have also come under closer scrutiny from both creditors and regulators. Industry Regulations.

Regulation 63

Regulation Management Analytics Meeting 63

PYMNTS

MARCH 19, 2018

The European General Data Protection Regulation ( GDPR ) framework looms, with a deadline of May 25, 2018. Thus, against this backdrop, the announcement came this past week that Mastercard and IBM have partnered and formed a trust – Truata – that allows for analytics of, and protection of, data in compliance with GDPR.

Analytics 124

Analytics Data Compliance Tools 124

PYMNTS

AUGUST 14, 2019

Cooperation in an environment that is rapidly advancing on many technological fronts was the theme when FinCEN Director Kenneth A. When it came to technology, Blanco was specifically interested in – and concerned about – two main areas. “In Mobile Gaming And Digital Currency .

Compliance 163

Compliance Las Vegas Mobile Data 163