PYMNTS

MARCH 27, 2019

While regulators had transparency and financial security in mind when introducing more stringent requirements for banks following the global financial crisis, financial institutions faced a sudden surge in the burden compliance. The Key To Compliance Is Data.

Compliance 116

Compliance Data Regulation Analytics 116

PYMNTS

OCTOBER 30, 2020

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. consumer purchases made with cash.

Operations 228

Operations Payments Compliance System 228

PYMNTS

SEPTEMBER 25, 2019

Regulators the world over are beginning to take a closer look at the alternative and marketplace lending business model. Know Your Customer is another area of compliance friction for these companies, added Wales, as money laundering and terrorist financing become more significant threats to the borrowing and lending space. In the U.S.,

Compliance 117

Compliance Risk Management Lending Regulation 117

BankInovation

JULY 31, 2023

Intelligent automation has emerged as a transformative solution to revolutionize both customer interactions and backend operations. This article explores the power of intelligent automation, highlighting its […]

Operations 52

Operations Analytics Compliance Data 52

Abrigo

DECEMBER 19, 2022

Checklists, guides, and more to help you and your AML-CFT staff Thousands of FinCrime professionals have accessed these guides, checklists, and other resources produced in 2022 by Abrigo's team, which includes former bankers, BSA officers, and regulators. . Would you like other articles like this in your inbox? From crypto to cannabis.

Resources 195

Resources Training Fraud Compliance 195

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

Insights on Business

MARCH 19, 2018

Maintaining regulatory compliance is a daunting task. Up to 200 regulatory changes occur every day, varying from large scale regulation like Dodd Frank, to minute changes to the font and size of footnotes in regulation text. Enter, IBM Watson Compliance. Confusion can become expensive in the compliance industry.

Compliance 135

Compliance Meeting Regulation Comparison 135

PYMNTS

JUNE 26, 2019

What is surprising, however, is how relatively anemic a showing data analytics makes in terms of executive enthusiasm, with just over a third (35.7 Financial institutions, he noted, don’t pursue things like data analytics as an end in themselves — it is a tool that is almost always going to be used in service of a broader objective. “If

Analytics 118

Analytics Data Tools Fraud 118

PYMNTS

OCTOBER 6, 2020

Money laundering is a never-ending threat to payments providers of all types, but especially to those that operate online. Since we are acting in the financial space, there's a lot of regulation that everybody needs to follow,” said Amit Sagiv , co-head of Wix Payments, the payments processing arm of web development company Wix. “We

Analytics 163

Analytics Data Analysis Payments 163

Abrigo

JANUARY 24, 2024

The FDIC bid process is highly confidential and typically operates within a short window before the FDIC officially closes a bank and declares a successful acquirer. For example, adopting the current expected credit loss standard (CECL) required a well-planned strategy and ample time dedicated to the operational and technical transition.

FDIC 195

FDIC Regulation Strategy Data 195

Insights on Business

NOVEMBER 12, 2018

Today, governance, risk and compliance (GRC) is being transformed by not only rapidly-evolving regulatory standards and growing costs of non-compliance, but also by the clear and present need for greater GRC adoption/engagement – by the first line of defense – while delivering added value by empowering business users.

Compliance 107

Compliance Technology User Experience Analytics 107

Abrigo

JULY 13, 2023

Crafty scammers exploit weaknesses in fraud and anti-money laundering (AML) compliance programs such as outdated technology, human error, or inadequate monitoring systems. Enhance data analytics capabilities : Data is a powerful tool. Banks can leverage data analytics to identify unusual patterns and anomalies.

Fraud 195

Fraud cryptocurrency Training social media 195

Cisco

OCTOBER 4, 2022

It is an update to the 2004 Operations book, and links the different processes of Architecture, Infrastructure, and Operations (AIO) into a cohesive framework for auditors to assess. In this booklet the FFIEC discusses the principles and practices for IT and operations, as well as processes for addressing risk respective to IT systems.

Operations 118

Operations Software Risk Management Management 118

FICO

JUNE 5, 2017

They’re not sure how to reap the value of these insights by using them to boost the performance of predictive analytics, and make better operational customer decisions. What Is Text Analytics? However, most organizations don’t know how to efficiently extract predictive elements from unstructured customer data. How do I know?

Analytics 108

Analytics Analysis Data Compliance 108

PYMNTS

JULY 17, 2019

According to Trisha Price, executive vice president of Product Development and Engineering at bank technology provider nCino , that reactive approach is rooted in one of the largest challenges today for banks and their lending operations. On top of that balancing act is the rising pressure of regulatory compliance, too.

Data 130

Data Management Analytics Compliance 130

FICO

FEBRUARY 14, 2017

I’m going to explore the impact advanced analytics can have on the current state of regulatory compliance. At our FICO TONBELLER User Group , we shared Baker & McKenzie’s view on the use of AI for financial crime compliance: At FICO TONBELLER , we have a head start. That’s what a compliance officer is looking for.

Analytics 40

Analytics Compliance Meeting System 40

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? There are significant changes coming in Europe, which highlight getting a handle on responsible AI use, with the banking and financial services sector among those that will be most impacted by increasing regulation.

Regulation 52

Regulation America Compliance Fraud 52

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. OpenPages 8.0

Regulation 70

Regulation Compliance Analytics System 70

PYMNTS

SEPTEMBER 23, 2019

Credit scoring and analytics company FICO is launching the FICO Falcon X and the FICO Financial Crimes Studio to help data scientists leverage artificial intelligence (AI) technology to help with the detection of financial crimes, according to a release by the company.

Fraud 131

Fraud Analytics Compliance Regulation 131

Insights on Business

FEBRUARY 14, 2019

Many financial services organizations are struggling to manage their risk and compliance exposure in the face of ever-increasing challenges. Massive volumes of regulations are being developed across global financial market segments. Some AI processes are particularly effective for specific regulations.

Compliance 125

Compliance Risk Management Case Study Meeting 125

PYMNTS

OCTOBER 7, 2020

But data in payment transactions provides an often-untapped opportunity for merchants to optimize their payment operations and grow their businesses, Tony Wimmer , head of data analytics for J.P. said Wimmer, who oversees the data and analytics efforts of firm’s payments-focused businesses.

Data 258

Data Analytics Payments Operations 258

Bobsguide

MARCH 23, 2022

With Boersma’s addition, Meradia will expand its Investment Performance practice to include advisory services related to Global Investment Performance Standards (GIPS®) compliance, implementation, and pre-verification as well as investment performance regulation. Wybranski, CFA, Meradia’s President and CEO.

Compliance 78

Compliance Regulation Training Strategy 78

FICO

NOVEMBER 27, 2019

Behind the headlines on financial crime compliance are big challenges. Many institutions expanded the size of their compliance headcount by over 500% in the past few years. billion a year on ensuring AML compliance. Financial crime compliance has become a real cost burden for most banks in times of shrinking profits.

Compliance 52

Compliance Fraud Regulation Trends 52

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

FICO

MAY 30, 2019

The “use of Big Data, AI, Advanced Analytics, Cognitive Computing” was listed as the top trend in banking for 2019, according to research from The Digital Banking Report. And yet, for many business executives I speak with, the benefits of applying advanced analytics to these use cases remain frustratingly theoretical. Collections.

Analytics 49

Analytics Tools Strategy Compliance 49

PYMNTS

JANUARY 30, 2019

They face the challenge of offering customers a smooth onboarding process while also remaining rigorous in know your customer (KYC) efforts, taking care to remain compliant with local anti-money laundering (AML) regulations that aim to keep criminals from using legitimate operations to move money illegally. In the U.K.,

How To 170

How To blockchain Compliance Regional 170

FICO

FEBRUARY 15, 2017

In the previous posts in this mini-series, TJ Horan noted that AI is the newest hope for compliance , and Frank Holzenthal explored the benefits that AI can bring to compliance officers. Industry experts have begun to realize the significance of analytics in combatting anti-money laundering. Follow me on Twitter @ScottZoldi.

Analytics 67

Analytics Meeting Fraud Compliance 67

PYMNTS

FEBRUARY 26, 2020

Back then, FinTechs asked for forgiveness instead of permission, rushing headlong into markets, disrupting them and operating in newly invented spheres of finance that regulators barely understood. It’s ushering in a new era of regulation and compliance – and there will be ramifications. Now, they’re laying down the law.

Regulation 130

Regulation Case Study Fraud Study 130

Insights on Business

APRIL 5, 2018

Those numbers also incorporate approximately 250,000 financial advisors, 300,000 retirement plans, 1,300 asset management firms, through 27 different plan providers, and over 50 global regulators to maintain compliance. Components: Portfolio, investment & market analytical tools. Analyst ratings. Sustainability ratings.

Operations 102

Operations Analytics Software Data 102

PYMNTS

JANUARY 31, 2019

“This effort should also be ongoing,” the Task Force stated in its report, “so as to ensure that regulations are flexible to the evolving design of faster payments and the evolving security technologies and threats.” Indeed, in the U.S., “As the U.S. “As the U.S. trillion in the U.S. a decade ago.

Fraud 182

Fraud Payments Compliance Regulation 182

PYMNTS

JULY 18, 2018

KPMG Australia partner and WIISE Executive Director John Munnelly in a statement, “Our SME clients have told us that a solution that can deliver analytics-driven performance tools across a range of operational areas, and that can keep pace with their growth trajectory, will clearly deliver a competitive advantage.

Analytics 102

Analytics Regulation Data Compliance 102

FICO

JANUARY 18, 2019

Despite advances in customer due diligence, including the addition of advanced analytics to compliance officers’ toolkits, the scandals of 2018 confirmed that many banks are struggling to bring their operations up to regulators’ standards, to say nothing of best practices. Know Your Customer. Detection and Alert Handling.

Compliance 40

Compliance Regulation Taxes Analytics 40

Abrigo

JUNE 5, 2023

Takeaway 3 Banking intelligence that's purpose-built for banks and credit unions combines analytics and intuititve dashboards. Regulators review them to assess safety and soundness. Takeaway 2 Reports that assess capital, growth, and liquidity provide banking professionals data to drive decisions.

Report 195

Report Risk Management Capital Data 195

Bobsguide

JUNE 10, 2022

The incoming EMIR Refit regulation will increase sell-side and investment firms’ reporting requirements to a level where submitting new data fields and new combinations of actions and events could cause significant delays and run the risk of fines, a study from Acuiti has found.

Regulation 88

Regulation Resources Study Compliance 88

Insights on Business

FEBRUARY 6, 2018

Banks around the world are continuing to be penalized heavily for their inability to meet with ever-changing and complex financial regulations. For example, financial intelligence regulator Austrac handed gaming giant Tabcorp a fine of AUD 45 M (USD 35 M) for non compliance, the highest ever civil penalty in corporate Australian history.

Compliance 87

Compliance Analytics Boston Regulation 87

Insights on Business

OCTOBER 3, 2018

These technologies bring capabilities that speed risk modeling, automate fraud detection, ensure regulatory compliance, enable distributed trust, and protect sensitive financial information. Transforming how financial institutions operate. Regulatory compliance today is a costly and labor-intensive business.

Industry 155

Industry Innovation blockchain Compliance 155

PYMNTS

SEPTEMBER 29, 2017

But the banks themselves also have complex demands for their own treasury departments, which, like other corporations, must be able to manage finances, risk and compliance. Compliance with domestic and international standards is considered a must,” Beaulande recently told PYMNTS.

Fintech 141

Fintech Risk Management Compliance Management 141