Compliance will kill the bank

Chris Skinner

I was talking with a banker at a recent conference, and was surprised by his attitude.

Biometrics’ Role In SCA Compliance

PYMNTS

Despite announcements last month that the deadline for Strong Customer Authentication (SCA) compliance will be extended , the original proposed deadline approaches next week. The potential cost for non-compliance is huge.

The Future Of Compliance: Using Data Better

PYMNTS

and compliance teams would manually check onboarding customers to make sure their records were clear. Wiping out the manual process and handling compliance in an automated fashion can propel companies forward,” Meier said.

How FinTechs Help Merchants With GDPR Compliance

PYMNTS

FinTech firms are keeping a pulse on the latest regulations and helping their clients comply with them. The European Union’s General Data Protection Regulation (GDPR), for instance, went into effect last May, and penalties are just starting to be enforced.

Paying The Non-Compliance Price As SCA Dawns

PYMNTS

Many firms are likely to fall afoul of compliance , especially if they want to field international transactions. Today In Data Commerce compliance News payments PSD2 regulations SCA Today in DataAs detailed in the latest PSD2 Tracker , tomorrow (Sept.

Compliance Monitoring

Mobile Payments Today

Included in our range of premium services is a Compliance Monitoring solution provided in partnership with MCP Insight

SWIFT: Real-Time Payments Demands Real-Time Security And Compliance

PYMNTS

Security and compliance are also vital components in ensuring that payments are delivered safely and without delay. There are different levels of understanding about what real-time ‘payments’ means in terms of compliance,” Lee told Webster.

Taking a risk-based approach to compliance management

Insights on Business

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. The strategies and practices to implement compliance obligations management enterprise-wide.

CBD And Cannabis Industries Attract Payments And Compliance Players

PYMNTS

When it comes to the new and emerging legal cannabis industry – along with the closely related trade in CBD products – payments and compliance issues, as one can imagine, have tremendous importance, and companies are striving to get into the game via those angles.

Innovation with compliance is difficult

Chris Skinner

You may find it gratifying that most of … The post Innovation with compliance is difficult appeared first on Chris Skinner's blog. I’ve been at a few conferences this week, and was amused by an audience poll at one event. The moderator first of all asked: Do you believe that the regulators are in the incumbent’s pockets and protect the industry from new competition?

EU Investigates Apple’s GDPR Compliance

PYMNTS

Ireland’s Data Protection Commissioner (DPC) announced that it has launched a third privacy investigation into Apple.

Apple 251

Australia Pushes eInvoicing To Boost SMB Compliance

PYMNTS

The Australian Taxation Office (ATO) says killing off the paper invoice is critical to promoting corporate compliance and business growth as the nation readies to end its use of physical invoices.

Compliance Concerns Remain an Obstacle to Tech Upgrades, Study Finds

Bank Innovation

Compliance Corporate Daily Post 1 Daily Post 2 Exclusive Premium Security & Risk Celent compliance Fenergo fintech Regtech regulationsDespite the importance bank executives place on innovation, a significant number believe their banks lack the technology to invest in disruptors.

Compliance Execs Forge Closer Ties With Corporate Buyers

PYMNTS

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes.

IBM and Thomson Reuters join forces to simplify how financial institutions tackle regulatory compliance challenges

Insights on Business

A recently published Thomson Reuters study titled “ Fintech, Regtech and the Role of Compliance in 2019 ” found that a new regulatory alert is issued every seven minutes. In the financial services industry in the United States, one thing remains constant – change.

ADEC, Libryo Tie-Up To Aid Supply Chain Compliance

PYMNTS

ADEC Innovations, a global sustainable practice and compliance firm, is partnering with London-based Libryo , a legal tech software as a service (SaaS) company, to help brands understand compliance requirements, ADEC said in a press release on Tuesday (Aug.

For Blockchain Adoption, FIs Have to Solve Compliance First

Bank Innovation

The next big thing in financial services won’t make it very far off the ground if FIs don’t innovate with an eye towards compliance.

Take a risk-based approach to compliance management

Insights on Business

Senior executives at financial services institutions have expressed the need for a stronger link between compliance and risk as stories of improper conduct and regulatory require­ments for AML, sanctions, customer fairness, data protection and privacy continue to dominate the business headlines.

Achieving Compliance in Record Time - AADHAAR TOKEN GATEWAY

Mobile Payments Today

India’s leading bank leverages FSS Aadhaar Token Gateway to tokenize 5M Aadhaar records and protect customer data against breaches. Learn more

How next-generation technologies are transforming governance, risk and compliance

Insights on Business

Reading the paper, you will see how new artificial intelligence (AI) capabilities, enhanced user experience (UXD), and data-driven analytics informed by regulatory expertise are enabling businesses around the world to redefine governance, risk and compliance across the organization.

Security and Compliance in Microsoft Teams

Perficient Financial Servies

Many companies will often be required to adhere to certain security regulations and compliance standards but rest assured Microsoft has your back. In today’s article we’ll do a high level overview of what Teams has to offer its customers in terms of security and compliance.

Accutive Eyes GDPR Compliance With Encryption Alternative

PYMNTS

Data Discovery enables businesses to identify sensitive data that will require specific regulatory compliance measures. GDPR compliance has emerged as a particularly difficult regulation for some corporate compliance teams.

Security Firms Counting on Compliance to Bolster AI’s Value in Banking

Bank Innovation

Compliance startups and security firms are banking on artificial intelligence playing a key role in know-your-customer/anti-money laundering processes, rather than being just a trend in regtech.

GDPR Compliance Stalls EMEA Acquisition Activity

PYMNTS

A new survey shows that an increasing number of mergers and acquisitions (M&As) are not going through because of concerns over General Data Protection Regulation (GDPR) compliance.

Innovative compliance technology is empowering end-to-end GRC

Insights on Business

Whether the change is additional regulations or a rollback of existing regulations (which we are seeing in the US), the impact on financial institutions and their legal and compliance professionals is significant. Visit our governance, risk, and compliance page: [link].

Demystifying AI for risk and compliance

Insights on Business

A recent explosion of AI applications is taking place in financial institutions, particularly in the area of risk and compliance. So how is AI helping risk and compliance processes? Risk and compliance departments suffer from massive data loads and exhausting regulatory requirements.

Compliance As Competitive Advantage

PYMNTS

Compliance is also becoming an enterprise-wide endeavor, and compliance officers must adopt a global mindset. When asked as to what the three things that are most urgently in need of attention when it comes to compliance and fraud, Gurz said that “one is balancing efficiencies versus risk. Security & Fraud ACH CGI cheryl gurz compliance Financial Crime fraud Main Feature Security

National Payments Corp. Of India To Verify WhatsApp Compliance

PYMNTS

We have received the data localization compliance system audit report from WhatsApp, which shall be reviewed in the next few weeks,” a Mumbai-based representative for NCPI said, according to Bloomberg. Digital Payments Audit compliance india National Payments Corp.

Tech Stumbles As Banks’ Compliance Pressure Rises

PYMNTS

” Acuris Risk Intelligence positions itself as a service provider for FIs, allowing them to access the information they need to manage compliance. However, the challenges of compliance data go far deeper, noted Parfitt. FIs of various sizes will almost certainly face different compliance challenges, too. However, Parfitt warned that flashy, high-tech buzzwords won’t guarantee compliance or a more effective fight against financial crime.

The Compliance Beast Of Food Retail Supply Chains

PYMNTS

Tightening regulations have introduced loftier compliance burdens to global supply chains, made even more complex and challenging as companies do business with thousands of vendors across borders. The burden of regulatory compliance came to a head in the U.S.

Global GDPR Compliance Rates Remain Low

PYMNTS

Compliance of General Data Protection Regulation (GDPR) rules remain low across the globe, according to the latest research from Dimensional Research. When researchers isolated the findings to businesses in the European Union (EU), they found only marginal improvement, with 27 EU companies reporting GDPR compliance. However, the cost of GDPR compliance is significant. companies said they have spent at least $1 million on compliance initiatives.

Cognitive Compliance Highlights an Opportunity for Banks

Insights on Business

They’re spending about $100 billion a year on compliance efforts. The problem is that traditional technology is not well designed to understand and manage regulatory compliance. We call it cognitive compliance. To learn more about Cognitive Compliance, go to: [link].

Finexio Targets B2B Payments Compliance With Cass

PYMNTS

Our partnership with Cass, an information processing and financial holding company with considerable experience in routing and handling B2B payments, provides Finexio and our customers access to a Federal Reserve member bank with a comprehensive suite of compliance and fraud detection tools.

Can Comic Books Boost Compliance And AML Efforts?

PYMNTS

Now comes a comic book contribution to one of the most vexing and vital issues of modern payments and commerce — fraud prevention and ID compliance. 18) that is has released a free comic and coloring book entitled “ The Adventures of ID Man and Compliance Kid.”.

Decernis, Viaware Team Up For Food Supply Chain Compliance

PYMNTS

Product compliance and risk management technology firm Decernis is collaborating with Viaware , an IT company in the food contact materials space, to promote compliance in the supply chain. Compliance in the food and food packaging space can be complex , the companies noted.

Reserve Bank Of India Fines Lenders For SWIFT Non-Compliance

PYMNTS

The specific reasons for the non-compliance was not released. When RBI checked for compliance, it found gaps in more than 20 places. Regulation banking fines News non compliance RBI regulation scandal SWIFT What's Hot

Watson at Work at IBM Think: Meeting compliance through cognitive computing

Insights on Business

Maintaining regulatory compliance is a daunting task. Banks and financial institutions are looking for any advantage they can get to streamline operations and reduce compliance costs. Enter, IBM Watson Compliance. Confusion can become expensive in the compliance industry.

Judo Capital Taps VERMEG For Reporting Compliance

PYMNTS

B2B Payments Australia B2B banking license challenger bank compliance FinTech Judo Capital News RegTech regulations Reporting software VERMEG What's Hot In B2B

LeaseAccelerator, Clearlink Partner For SMB Lease Accounting Compliance

PYMNTS

The companies will enable businesses to upload leasing data onto LeaseAccelerator’s accounting platform to promote compliance. The FASB first proposed that smaller companies receive more time to adopt the new standard admit concerns over how the compliance burden may impact businesses.

Re-think risk and compliance at IBM RegTech Europe

Insights on Business

As we enter a new year, uncertainty in the risk and compliance landscape is as evident as ever. To proactively respond to this uncertainty, financial institutions assume that the only way for their organization’s to reduce risk and improve compliance is to spend more.

Source Intelligence Eyes AI For Supply Chain Compliance

PYMNTS

When it comes to regulatory compliance, no corporate is an island. In supply chain compliance, data is king. The various document formats and layouts that businesses use to provide their compliance information are like the various accents and phrases individual people use to speak.

The future of regulatory compliance converges at IBM RegTech Europe

Insights on Business

A common assumption in risk and compliance is that financial institutions typically have to spend more to meet their regulatory obligations. They demonstrated their new approach to achieving compliance through technology at IBM RegTech Europe in London.

Oracle Targets Compliance In Retail Supply Chain Solution

PYMNTS

Oracle has announced new enhancements for its Retail Brand Compliance Management Cloud Service , which will enable retailers to monitor the integrity of their materials and end products.