Cannabis payments companies focus on compliance, creativity

Payments Dive

In the cannabis business, federal illegality has kept many banks and payments companies on the sidelines. That's opened the door for young companies that are using the ACH network to facilitate cannabis payments in states where it’s been legalized

Compliance spend may take toll on fintechs

Bank Innovation

Lenders have had to spend unprecedented funds on compliance in the first quarter, which could shift resource allocation at banks and credit unions and hamper post-pandemic fintech partnerships. “We’re

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Compliance will kill the bank

Chris Skinner

He’s not worried about Amazon, Google or Alibaba; he’s not concerned about FinTech start-ups, Revolut or Monzo; he doesn’t really care about Open Banking and software; as for machine learning, artificial intelligence (AI) and … The post Compliance will kill the bank appeared first on Chris Skinner's blog. I was talking with a banker at a recent conference, and was surprised by his attitude.

Compliance Monitoring

Payments Dive

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

How to Choose the Best Automated Documentation System for Commercial Loans

Not all automated loan doc prep solutions are created equal. That is why we have put together a checklist to help you evaluate potential partners and find the best-automated documentation system for your requirements and needs.

10 NBFI AML Compliance Essentials

Abrigo

What NBFIs Should Know About Their AML Programs NBFI AML compliance requirements are top of mind in today's regulatory environment. NBFIs’ AML compliance requirements. During the last few years, added requirements have made BSA compliance more challenging for these companies.

Seizing the $300 Billion Opportunity in Payments

Accenture

This is often due to a reactive, compliance-driven, piecemeal approach that makes it harder to adopt new capabilities. Many banks today are not seeing the returns on their investments in payments modernisation they hoped for.

Tax Compliance Complicates Software Subscription Business

PYMNTS

Tax compliance has never been a simple issue for businesses. While we tend to assume that international tax compliance is the arena of massive businesses with dedicated tax teams, he said, the explosion of eCommerce seen in the last year or so has made that idea fairly outdated. So tax compliance is really everybody's concern now.”. Subscriptions compliance FastSpring Featured News News SaaS software subscriptions taxes

Merchants Solving For Data Compliance

PYMNTS

Solving for data compliance while reinventing with new digital tools is just one of the key themes found in the June 2020 Merchants Guide To Navigating Global Payments Regulations. Contactless, Meet Compliance.

Beyond compliance—the new API economy

Accenture

The post Beyond compliance—the new API economy appeared first on Accenture Banking Blog. For leading incumbent banks, Open Banking is not just a regulatory imperative.

How to Avoid the Pain and Cost of PCI Compliance While Optimizing Payments

Speaker: P. Andrew Sjogren, Sr. Product Marketing Manager at Very Good Security, Matt Doka, Co-Founder and CTO of Fivestars, and Steve Andrews, President & CEO of the Western Bankers Association 

In this webinar, we have a great set of panelists who will take you through how Zero Data strategies can be used as part of a well-rounded compliance and security approach, and get you to market much sooner by also allowing for payment optimization. They’ll share how to grow your business faster and minimize costs for both security and compliance

Citi creates new role for its ex-chief compliance officer

American Banker

Career moves Regulation and compliance Commercial banking Women in Banking

Innovative Approaches To Retail And PCI Compliance

PYMNTS

And in payments innovation, tokenization and data vaulting take the sting out of payment card industry (PCI) compliance. Today In Data Commerce compliance Innovation loyalty News payments Retail Today in Data

Key Components of a Strong Sanctions Compliance Program

Abrigo

Create an effective sanctions program Considering the current economic and political environment, it is crucial that financial institutions maintain a strong sanctions compliance program (SCP). Takeaway 1 OFAC has issued new guidance on the essential components of a strong compliance program.

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?

The Importance of PCI Compliance and Data Ownership When Issuing Payment Cards

This eBook provides a practical explanation of the different PCI compliance approaches that payment card issuers can adopt, as well as the importance of both protecting user PII and gaining ownership and portability of their sensitive data.

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. And blockchain innovation is no exception, Arshi Singh, head of North America product at international payments processor CurrencyCloud, told Bank Innovation: Regulatory landscape and compliance concerns are the main barriers to […].

Laundering Rules are Getting Tougher, But Also Easier to Follow

Payments Source

Banking Compliance Payment fraud AML

Fraud 93

Tax Compliance Software Firm Avalara Acquires INPOSIA

PYMNTS

Avalara , a tax compliance software firm with a focus on the business sector, said on Tuesday (Dec. E-invoicing is becoming a mandatory global requirement for transactional tax compliance,” said Jayme Fishman , EVP of corporate development at Avalara, in a press release.

Taxes 185

Revolut automates compliance workflows to fuel expansion

Bank Innovation

based digital banking startup Revolut is expanding at a rapid clip. The company boasts more than 8 million customers across multiple continents. It operates in Europe and Australia, and last fall launched publicly in Singapore and in beta for U.S. customers.

Build Trustworthy AI With MLOps

Machine learning operations (MLOps) helps companies deliver machine learning applications in production at scale. Discover the importance of secure MLOps in the four critical areas of model deployment, monitoring, lifecycle management, and governance.

Turning Compliance Burden Into FinTech-Regulator Collaboration

PYMNTS

But financial regulatory compliance can be a headache for any market. For traditional banks, compliance experts agree that it’s all about data — and the ability to share information with regulators. Lithuania wants to become a global FinTech powerhouse.

Deep Dive: How Regulatory Compliance Tools Help Keep Remittances Flowing

PYMNTS

Maintaining compliance with these important regulations can be challenging, but FIs cannot afford to slip up. The Cost of Compliance .

Orchestration Curing COVID-Era Compliance Headaches

PYMNTS

As data privacy becomes enshrined in international law, regulatory compliance will grow more stringent and costly to companies that fail to provide the digital defenses these laws demand.

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. But that automation is a starting point in a journey toward adopting compliance best practices that aren’t codified so much as passed down through the industry. In the pre-digital age of financial services, AML/KYC was a very slow process.

Citi names internal candidate as its next chief compliance officer

American Banker

Risk management Career moves Regulation and compliance Women in Banking

Keeping human eyes on AI for regulatory tech compliance

BankInovation

This overhaul will have a profound effect on regulatory compliance, a dusty but vital corner of investment banking and capital markets. Challenges of tech adoption in compliance We are […]. Center of Excellence Automation Premium Regtech Regulatory Compliance

Citi hires Fincen’s Blanco as financial crimes compliance chief

Payments Source

Compliance Financial crimes Citigroup Recruiting

Required Reading for the Compliance Geek

New York's State of Mind

Compliance Regulatory CFPB Consumer Compliance Outlook GAP Car InsuranceYours truly is always a little ambivalent when someone gives me a reading suggestion; on the one hand, I love a good recommendation, on the other, there’s an implicit pressure that comes with the suggestion lest you have to sheepishly explain why you haven’t gotten to the book the next time you run into the […].

TIAA Bank begins to automate regulatory compliance documentation

BankInovation

John Elton, chief information officer of $40 billion TIAA Bank, said during his fireside chat at the Bank Automation Summit on Wednesday that regulatory compliance is where the bank is “now really beginning to spend a lot of time."

Debit's on a Roll. Are Small Merchants Getting Rocked?

Payments Source

Compliance Debit cards DoJ VisaThe Justice Department's probe of Visa highlights whether merchants are properly equipped to adapt to the cost of debit spending as more commerce goes digital. ]].

Cards 118

FSS, Okay partner to deliver SCA compliance in Europe

Payments Source

Compliance European UnionFinancial Software and Systems Technologies is advancing its payments footprint in Europe through a partnership with Strong Customer Authentication platform provider Okay.

Fidor: How Cloud-Based Banking Helps With Compliance

PYMNTS

How The Pandemic Is Shifting Banks’ Understanding Of Clo ud Compliance. Deep Dive: Why The Pandemic Is Pushing Up The Cloud Compliance Innovation Curve. To learn more about how the pandemic is affecting emerging cloud compliance standards, visit the Tracker’s Deep Dive.

Compliance And Innovation Make Profitable Bedfellows For Banks

PYMNTS

As the world becomes increasingly digitized and more consumers embrace the speed and convenience of contactless purchases, Jim McCarthy , president of payment technology and innovation firm i2c , said banks have been left behind and should focus on what they do best — compliance.

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

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.