PYMNTS

DECEMBER 17, 2019

Headlines are filled with reports of service outages and data breaches , and both banks and consumers are contending with rising fraud concerns as digital banking takes off. Fraud threatens everyone, yet customers rely on their banks for protection. The Technology Gap That Fosters Fraudsters.

Technology 142

Technology Fraud Data Security 142

PYMNTS

AUGUST 20, 2020

Seventy percent of SMBs are adding new digital capabilities or enhancing existing ones to continue their operations, but firms often require financing to implement these innovations. One of the most pressing issues plaguing SMB lenders is the risk of fraud. Fraud targeting SMB lenders has increased by 7.3

Fintech 177

Fintech Fraud Lending Regulation 177

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. Fraud & Identity: By far, the largest number of vendors and conversations were over fraud and identity.

Conference 221

Conference Las Vegas Fraud Case Study 221

Abrigo

FEBRUARY 3, 2020

Dollars for innovation tied up in IT infrastructure. While so-called fintechs “devote more than 70 percent of their budget to launching and scaling up innovative solutions, banks end up spending just 35 percent of their budget on innovation with the rest spent on legacy architecture,” according to the report. Fraud Prevention.

Resources 150

Resources Security Customer Experience Fraud 150

PYMNTS

OCTOBER 6, 2020

FinTech across the Middle East is also set to grow at a compounded annual growth rate of 30 percent, and expected to raise over $2 billion in venture capital funding by 2020.". The new risks and heavier use of remittance systems have also led to rapid changes in regulations.

Fintech 174

Fintech Regional Fraud Meeting 174

PYMNTS

DECEMBER 14, 2016

13) it closed a $13 million round of funding led by Flint Capital, with participation from ff Venture Capital, Santander InnoVentures and Two Sigma Ventures, as well as other investors. In a press release, Socure said it will use the capital to scale operations, accommodating the 300 percent growth it has seen in 2016.

Fraud 100

Fraud Compliance Capital Leadership 100

PYMNTS

MARCH 17, 2017

But on the second day of Innovation Project 2017, eyes were beyond Beantown and cast toward the world at large. They also face an uncertain future, as regulatory futures remain uncertain and at least one federal regulator seems determined to put them out of the marketplace. It’s a big problem. That is not true,” O’Neil noted.

Innovation 103

Innovation Lending Boston Security 103

PYMNTS

OCTOBER 17, 2019

million in a funding round that was led by Pangaea Ventures and Happiness Capital. According to recent PYMNTS research , illicit and counterfeit goods make up a multibillion-dollar fraud industry, with merchants suffering $323 billion in total losses from counterfeit products in 2017. Now, the company reportedly has raised $7.5

Fraud 101

Fraud Innovation Technology Mobile 101

PYMNTS

OCTOBER 17, 2019

million in a funding round that was led by Pangaea Ventures and Happiness Capital. According to recent PYMNTS research , illicit and counterfeit goods make up a multibillion-dollar fraud industry, with merchants suffering $323 billion in total losses from counterfeit products in 2017. Now, the company reportedly has raised $7.5

Fraud 101

Fraud Innovation Technology Mobile 101

PYMNTS

JUNE 23, 2016

Santander InnoVentures , a FinTech venture capital fund, announced on Wednesday (June 22) that it is making a strategic investment in identity verification platform Socure. The technology is typically used by financial institutions to help prevent fraud when customers open a new bank account or when issued credit or debit cards.

Security 107

Security Fraud Compliance Capital 107

Abrigo

SEPTEMBER 2, 2020

Capitalizing on PPP innovations for a better experience. These institutions used customer-facing innovations such as online loan applications , electronic signature capabilities, and remote document upload features to allow borrowers to complete PPP applications online at their convenience. BSA Rules and Regulation.

Lending 259

Lending Community San Antonio Survey 259

PYMNTS

OCTOBER 3, 2019

Brex Co-Founder and Co-CEO Henrique Dubugras said in a press release , “Even before customers think about credit cards, they need a place to store their business capital. Malaysia Regulators Want To Slap Grab With $20M Fine. Mastercard: Fraud-Fighting’s New Mantra — Test, Protect, Prevent .

Management 108

Management Fraud Payments Boston 108

Accenture

SEPTEMBER 22, 2019

But there’s another reason why the neo-challengers are so front-of-mind: They’re industry leaders in cultivating technology innovation and optimising customer service and experience. They also deliver innovative, easy-to-use apps that help users with things like managing their daily budget or travelling abroad. Regulation.

Innovation 150

Innovation Metro Apple Marketing 150

Abrigo

SEPTEMBER 2, 2020

Capitalizing on PPP innovations for a better experience. These institutions used customer-facing innovations such as online loan applications , electronic signature capabilities, and remote document upload features to allow borrowers to complete PPP applications online at their convenience. BSA Rules and Regulation.

Lending 195

Lending Community San Antonio Survey 195

PYMNTS

JANUARY 28, 2020

The problem often stems from the environment in which they are operating — one that can put the brakes on innovation, even when innovation is key to thriving. They are heavily regulated and require heavy investment,” both in terms of capital and human resources. “It But that’s not the whole story, of course.

Fintech 169

Fintech Digital Strategies Mobile Resources 169

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

APRIL 28, 2017

At the time, the SEC nixed listing the twin’s ETF on the Bats BZX Exchange due to lack of oversight, regulation and the potential for fraud in the broader bitcoin space. The regulatory body noted that bitcoin must first have surveillance sharing agreements with significant markets and that those markets must be regulated.

Bitcoin 120

Bitcoin Regulation cryptocurrency Marketing 120

PYMNTS

APRIL 2, 2019

The FCA said it saw evidence that Innovative Finance ISAs, which are used to shelter peer-to-peer loans from capital gains and income tax, were marketed along with cash ISAs even though they don’t give the same level of protection to consumers. They were released pending further investigations.

Capital 108

Capital Taxes Fraud Marketing 108

FICO

SEPTEMBER 6, 2017

In this podcast for Lend Academy, FICO Blog author Dr. Scott Zoldi talks about his role as FICO's Chief Analytics Officer, the company's AI innovations and how they are being applied in credit risk, fraud management and more. Scott discusses: Why his background in theoretical physics was perfect for studying fraud and credit risk.

Lending 95

Lending Fraud Data Analytics 95

PYMNTS

DECEMBER 28, 2016

A third-quarter CB Insights Pulse report says venture capital investment in FinTech companies has dropped globally 52 percent year over year. Regulation. Bankers live and breathe regulation and over the years have developed the expertise and capacity to comply even in our complex and changing regulatory environment.

Payments 128

Payments eBook Fintech Regulation 128

PYMNTS

MARCH 31, 2017

For a second time, it was the lack of oversight, regulation and the potential for fraud in the broader bitcoin space that worked against the proposed ETF. Still, the SEC’s repeated calls for regulation and oversight are sobering given other developments brewing in the bitcoin space. Hard fork, anyone?

Bitcoin 100

Bitcoin blockchain Capital Regulation 100

PYMNTS

MARCH 17, 2017

Lack of oversight, regulation and the potential for fraud in the broader bitcoin space. Additionally, those markets must be regulated. We agree with the SEC that regulation and oversight are important to the health of any marketplace and the safety of all investors.”. The reason? Still, some aren’t satisfied with that.

Bitcoin 123

Bitcoin Regulation cryptocurrency blockchain 123

PYMNTS

JANUARY 31, 2020

Bryant formed the Bryant Stibel venture capital firm in 2013 with Jeff Stibel, founder of Web.com. Bank’s Adam Kruis, senior vice president and manager of working capital consulting, and Jennifer Swenson, vice president of corporate payment systems, discuss how the bank ensures smooth implementation of virtual card solutions.

Cards 131

Cards Technology social media Meeting 131

PYMNTS

OCTOBER 20, 2018

We always want to talk to innovators and those who understand them best. Over the last nine years, it has been PYMNTS’ privilege to speak with some of the most innovative minds in payments and commerce. And we have them here, as explained by the innovators that learned them, in real time, on the ground. Really hard.

Innovation 177

Innovation Payments Cards Retail 177

CB Insights

NOVEMBER 2, 2017

Over 143 million Americans will be at risk of financial fraud for years following the Equifax cybersecurity breach, while an estimated 3 million Wells Fargo customers unknowingly had their digital identity stolen to open fraudulent trading accounts. The volume of regulation has created more surface area for compliance gaps.

Compliance 72

Compliance Regulation blockchain Software 72

PYMNTS

NOVEMBER 2, 2018

He said the digital currency was a “terrible store of value” in 2014 and called it a fraud last year. (He Vullo said in a statement, “Today’s approval is a further step in implementing strong regulatory safeguards and effective risk-based controls, while encouraging the responsible growth of financial innovation.”

Bitcoin 123

Bitcoin District of Columbia Texas New York 123

PYMNTS

JUNE 20, 2019

A growing segment of these banks want to capitalize on the digital segment more directly — but they can’t ignore that a significant portion of their customers prefer in-person transactions as opposed to mobile moderated set of use cases and interactions,” Cohen said. The Innovative Steps Forward.

Data 166

Data cryptocurrency Regulation Compliance 166

CB Insights

FEBRUARY 13, 2020

This growth has created major opportunities in the payments space, and companies like Stripe — the payments unicorn valued at a masive $35B — are hungry to capitalize on them. As a result of its product innovation efforts, Stripe has seen explosive growth in product adoption and valuation. A decade of online payments innovation.

Online 98

Online Company Retail Payments 98

PYMNTS

APRIL 18, 2017

Despite a compliance market packed with providers and the investment from companies to ensure they stay on the right side of regulations, instances of money laundering and fraud are still prevalent and not going anywhere any time soon. But is all the money being invested really getting the job done? ”

Compliance 111

Compliance Data Austin Management 111

PYMNTS

APRIL 30, 2018

It’s a thought that was triggered recently after reading and reflecting on recent developments across three innovations heralded as FinTech’s poster children — disruptors out to change the world and eat the proverbial lunches of incumbents they say are too big and too unmotivated to change. Blockchain. Marketplace lending. Digital banks.

Fintech 183

Fintech blockchain Lending Digital Banking 183

Independent Banker

NOVEMBER 25, 2015

It’s a worrisome and complicated dynamic that’s putting competitive pressure on community banks, but it’s also creating opportunities through data analytics, partnerships and the ability to innovate to meet evolving customer demands. “We Now it has a small-business financing program, Square Capital.

Community Bank 70

Community Bank Community Analytics Lending 70

Celent Banking

SEPTEMBER 30, 2015

While Dan was the one really working (he presented on “How Big Data can change Financial Services”) I mingled around the participants of this vibrant ecosystem encompassing entrepreneurs, financial institutions, investors, and regulators among other stakeholders.

America 100

America Fintech Big Data Regional 100

Gonzobanker

DECEMBER 17, 2021

This is an innovation-seeking franchise that has built a solid brand and never got over its skis in execution. Simultaneously the bank invested in Paladin Fraud, Trabian Technology, and Chartwell Compliance to provide compliance and risk management solutions in the complex and connected web of fintech partnerships. 82% to over 2.3%

Fintech 142

Fintech Strategy Leadership Lending 142

Fintech Labs Insights

DECEMBER 15, 2016

In a round led by Flint Capital, digital identity verification technology specialist Socure has raised $13 million in funding. Featuring participation from ff Venture Capital, Santander InnoVentures, and Two Sigma Ventures, this week’s investment takes Socure’s total financing to more than $17 million.

Capital 12

Capital New York Compliance Millennials 12

PYMNTS

JANUARY 5, 2017

“Blockchain has tremendous potential in supporting greater adoption and use of mobile payment solutions, such as Android Pay, Samsung Pay and Apple Pay,” said Kristian Gjerding, CEO of CellPoint Mobile , a mobile solutions provider and host of a Travel Innovation Hub focusing on blockchain-support products/services for the travel sector.

blockchain 115

blockchain Samsung Industry Security 115

PYMNTS

FEBRUARY 28, 2018

That includes anti-money laundering (AML) compliance, know your customer (KYC), fraud mitigation, marketing, privacy, document review, Office of Foreign Assets Control (OFAC) compliance, reporting and more. After all, they represent substantial capital investments over the years. Modo Payments.

blockchain 100

blockchain System cryptocurrency Regional 100

PYMNTS

MAY 27, 2016

“The main customer benefits are certainty of timing, so you know when the payment is going to arrive and certainty of value,” Ed Metzger, head of innovation, technology and operations at Santander UK, told Reuters. He explained that this technology has the ability to make payments instantaneous.

Bitcoin 104

Bitcoin blockchain Operations Fraud 104