Abrigo

FEBRUARY 27, 2020

Key Takeaways FinCEN hires Digital Innovation Officer to prove commitment to innovation in BSA/AML. Abrigo embraces innovation with the introduction of artificial intelligence scenarios. Abrigo Embraces Innovation with Machine Learning Scenarios. So, what exactly is machine learning in the context of AML compliance?

Innovation 195

Innovation Software United States Compliance 195

Abrigo

DECEMBER 5, 2023

AML Compliance Ten qualities of a successful BSA officer Hiring a Bank Secrecy Act (BSA) Officer for a financial institution involves looking for a unique experience level and skillset that ensures compliance with the BSA and related regulations. This includes training staff on BSA/AML policies and fostering a culture of compliance.

Training 222

Training Compliance Regulation Software 222

Insights on Business

JANUARY 25, 2019

It is that time of year when we do an annual review of the blogs our readers viewed the most on our Insights on Banking blog. 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.

Marketing 79

Marketing blockchain Compliance Innovation 79

CFPB Monitor

OCTOBER 6, 2022

The CFPB, in a notice published in the Federal Register on September 27, 2022 , announced that it was rescinding its No-Action Letter and Compliance Assistance Sandbox policies (Policies). In the notice, the CFPB stated: The CFPB determined that the Policies do not advance their stated objective of facilitation consumer-beneficial innovation.

Policies 78

Policies Compliance Innovation Meeting 78

Bank Innovation

JUNE 3, 2019

Dominic Venturo, executive vice president and chief innovation officer at U.S. Bank, will participate in a fireside chat at Bank Innovation Build 2019, this blog’s event on best practices in banking innovation. Bank Innovation Build will take place November 6-7 at Atlanta’s W Hotel Downtown.

Innovation 170

Innovation Atlanta Industry social media 170

CFPB Monitor

JUNE 7, 2022

On May 25, 2022, my colleagues, Mike Gordon, John Culhane and Ron Vaske published a blog which reported on a press release issued by the CFPB on the prior day entitled “CFPB Launches New Effort to Promote Competition and Innovation in Consumer Finance.”

Innovation 78

Innovation Compliance Conference Operations 78

Bank Innovation

DECEMBER 6, 2016

Fiserv, a leading banking technology company, has signed on as the headline Diamond sponsor of Bank Innovation 2017. Bank Innovation 2017 is this blog’s annual gathering on ideas and opportunities in fintech.

Innovation 150

Innovation Fintech Technology Company 150

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 222

Training Compliance Fraud Policies 222

Perficient

FEBRUARY 29, 2024

This blog was co-authored by Perficient’s Chief Strategist and banking expert: Scott Albahary A slowing global economy, coupled with a divergent economic landscape, poses challenges for the banking industry in 2024. Explore and integrate alternative data sources and innovative scoring models to offer fairer assessments of creditworthiness.

Trends 221

Trends Industry Analytics Compliance 221

CFPB Monitor

JULY 13, 2020

The CFPB recently published a blog post titled, “ Innovation spotlight: Providing adverse action notices when using AI/ML models.”. The blog post primarily recycles information from the Bureau’s annual fair lending report issued in May 2020. The Bureau again encourages entities to consider using its new innovation policies (e.g.

Policies 78

Policies Innovation Lending Compliance 78

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.

Training 195

Training Compliance Fraud Policies 195

Perficient

NOVEMBER 27, 2023

This blog was co-authored by Carl Aridas and Joel Thimsen. An ideal solution combines top-performing analysts with innovative AI. This comparison enables your teams to assess process effectiveness and identify deviations that require attention due to inefficiencies and/or non-compliance.

Industry 221

Industry Regulation Compliance Data 221

Accenture

FEBRUARY 22, 2017

Following on from my previous blog introducing the new year in the Fintech Innovation programme, I wanted to turn the focus onto the emergence of RegTech—technologies that address the challenge and cost of regulatory compliance. Over the past couple of. Read more.

Compliance 190

Compliance Innovation Fintech Technology 190

PYMNTS

OCTOBER 6, 2016

All of this has occurred as the company has continued to expand the pilot phase of its global payments innovation (gpi) initiative, thus far signing on dozens of major financial institutions to an effort aimed at streamlining cross-border payments. Since, SWIFT has reported three new cyberbreaches that occurred over the summer.

Innovation 188

Innovation Payments Fintech New York 188

Accenture

FEBRUARY 22, 2017

Following on from my previous blog introducing the new year in the Fintech Innovation programme, I wanted to turn the focus onto the emergence of RegTech—technologies that address the challenge and cost of regulatory compliance. RegTech has two aims: increasing the effectiveness and the efficiency of compliance.

Compliance 150

Compliance Regulation Innovation Fintech 150

Accenture

FEBRUARY 22, 2017

Following on from my previous blog introducing the new year in the Fintech Innovation programme, I wanted to turn the focus onto the emergence of RegTech—technologies that address the challenge and cost of regulatory compliance. RegTech has two aims: increasing the effectiveness and the efficiency of compliance.

Compliance 150

Compliance Regulation Innovation Fintech 150

Abrigo

APRIL 19, 2016

banks incorporate “responsible innovation” as they adapt quickly to these advances, but what exactly does that mean? In a recent whitepaper (download), the regulator outlined the general approach it will take as it evaluates innovative products, services and processes that OCC-regulated banks may offer or perform.

Innovation 150

Innovation Fintech Risk Management Community Bank 150

William Mills

APRIL 27, 2017

William Mills Agency will be live blogging at FinovateSpring 2017. From their web site: We create, design and develop innovative applications, combining talent and technology to achieve high impact creative solutions for our clients’ needs. Valuable, but I’m not sure if there is a core innovation represented here. ^SR.

San Francisco 68

San Francisco social media San Jose Customer Experience 68

Abrigo

JANUARY 30, 2024

REGISTER Takeaway 1 Banking and compliance professionals rely on ThinkBIG to elevate their understanding of industry shifts and regulatory pressures. Banking and compliance professionals rely on the annual conference to elevate their understanding of industry shifts and regulatory pressures that hammer them daily.

Conference 195

Conference Arizona Phoenix Fraud 195

PYMNTS

JULY 11, 2017

The basis of innovation is not the desire to create something new or even the inspiration to do so. Innovation occurs where there is a problem and a person with the tools to solve it. Anyone can have a good idea,” Lowthers said; innovation is about what you do with it. PYMNTS: Where do you look for innovative ideas, and why?

Innovation 101

Innovation social media Security Leadership 101

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. We’re Going to Science the $#!&

Analytics 53

Analytics Customer Experience Mobile Innovation 53

Chris Skinner

MAY 23, 2017

The first is the Innovate Finance research into Industry Sandboxes. Supporting Efficiency in Compliance and Regulatory Engagement: The process revealed that within the start up community, understanding of the need for authorisation and compliance requirements in local and foreign markets could benefit from being accelerated.

Fintech 202

Fintech Innovation Compliance Industry 202

FICO

JUNE 11, 2019

Tax agencies have a limited amount of resources to pursue tax compliance activities (collections and audit). Tax Compliance - Why Use Analytical Models at Tax Agencies? Tax Compliance - Predictive Analytical Models. Tax Compliance - Tax Analytics Opportunities for Audit. Three Types.

Taxes 58

Taxes Analytics Compliance Resources 58

Abrigo

NOVEMBER 17, 2023

As overseers tighten the leash with stringent regulations aimed at protecting consumers, the cost of compliance grows. This is the first-time fraud has been addressed at a high level as part of AML compliance, but it makes sense. Proceeds from fraudulent activity must be laundered, so there is a direct correlation.

Fraud 195

Fraud Training Trends Compliance 195

ABA Community Banking

NOVEMBER 30, 2015

Part 2: “Innovation Ave.” must be two-way street and that begins with questions Management Lines of Business Technology Compliance Blogs UNconventional Wisdom Compliance Management.

Compliance 40

Compliance Fintech Innovation Management 40

Abrigo

DECEMBER 17, 2021

Takeaway 1 Having a cohesive vision from the top down is critical to a culture of innovation and the successful adoption of new software. . It’s great that more financial institutions are welcoming technological innovations, but banks and credit unions must consider the long-term impact of their partnerships. DOWNLOAD WHITEPAPER .

Fintech 195

Fintech How To Innovation System 195

FICO

NOVEMBER 21, 2022

FICO awarded first place in six categories on risk and compliance technology in the 2023 Chartis RiskTech100 ® Report, including Innovation for the sixth year in a row. I am thrilled to announce that the annual 2023 Chartis RiskTech100® Report ranking risk and compliance technology companies is live! asokolowski.

Report 52

Report Risk Management Compliance Analytics 52

Abrigo

APRIL 27, 2020

The Exam Manual was originally intended to provide instructions to examiners when assessing the adequacy of a financial institution’s BSA/AML compliance program when it was first published in 2005. FinCEN Strengthens Commitment to Digital Innovation. Any change to the BSA/AML process is yet to be determined. Artificial Intelligence.

Regulation 195

Regulation Compliance Software Analytics 195

ABA Community Banking

NOVEMBER 25, 2015

Compliance people should talk about innovation Management Lines of Business Technology Compliance Blogs UNconventional Wisdom Compliance Management. But it shouldn’t be. Fintech players discuss regulation.

Innovation 40

Innovation Compliance Regulation Fintech 40

Abrigo

DECEMBER 30, 2019

Institutions must create a strong culture of compliance. Creating a Culture of Compliance. One of the more important takeaways from 2019 is that all institutions, regardless of size or risk profile, must have a strong culture of compliance, as directed by FinCEN’s advisory in 2014. Looking back to strengthen your BSA program.

Training 195

Training Compliance Leadership Fraud 195

Abrigo

MAY 4, 2020

If there has been a regulatory change or update, your vendor should be staying on top of official notifications and providing you with compliant software before any mandatory compliance date. FinCEN Strengthens Commitment to Digital Innovation. Learn more about Abrigo's BSA/AML and fraud monitoring solution, BAM+. . Learn More.

Software 195

Software Cyber Security Security Community 195

FICO

JANUARY 8, 2019

FICO Score hitting a new high in 2018 or the use of machine learning to challenge the score - dominated reader interest on the Risk & Compliance blog in 2018. Banking Innovation: Why 2018 is the Year it Puts on its Overalls - FICO. And an honorable mention to the most read Risk & Compliance post in December.

Compliance 40

Compliance Trends Innovation Meeting 40

Abrigo

JANUARY 8, 2020

Key Takeaways The most popular BSA/AML and fraud blog posts in 2019 related to staying on top of regulatory changes. BSA and compliance officers wanted to read about SARs, risks tied to cannabis-related businesses, and preparing for CAMS exams. Top BSA/AML Blog Posts: Cannabis, SARs Topped the List in 2019. BSA Software.

Software 195

Software System Fraud Examples 195

Cisco

DECEMBER 21, 2020

As you read in part one of this blog, due to the pandemic and the resultant exponential increase in digital transactions, Customer Experience is far more paramount than ever before, across all demographics. And best of all, your developers would have time and flexibility to innovate instead of chasing alerts.

Customer Experience 95

Customer Experience Innovation Policies Security 95

Abrigo

APRIL 14, 2020

If beneficial ownership information has NOT been previously verified on an existing customer, they do not need to collect and verify the beneficial ownership information, unless otherwise indicated by the lender’s risk-based approach to BSA compliance. FinCEN Strengthens Commitment to Digital Innovation. Artificial Intelligence.

Policies 195

Policies Software Resources Compliance 195

Abrigo

FEBRUARY 25, 2022

Overall, banks, credit unions, and NBFIs should modernize their BSA/AML programs with appropriate risk-based innovative solutions to streamline those processes and use resources efficiently and effectively. 10 NBFI AML Compliance Essentials. What this will mean for an internal difference of opinion on SAR filing is yet to be seen.

Regulation 195

Regulation Policies Compliance Washington 195

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. If you don’t have compliance from the top down, document it, and look for another job,” she says.

Resources 195

Resources Regulation Compliance Policies 195