PYMNTS

MARCH 14, 2019

Both corporates and banks have said Know Your Customer ( KYC ) regulations are their most pressing compliance concerns, with nearly three-quarters of businesses with more than $1 billion in revenues pointing to KYC as their top challenge. Even fewer — 5 percent — have adopted blockchain, and only 2 percent use cryptocurrencies.

Fraud 115

Fraud Survey Taxes Regulation 115

Abrigo

MARCH 11, 2022

Thanks to an increase in mobile payments precipitated by the pandemic and rising security concerns due to the Russian conflict in Ukraine, the world of financial fraud prevention is more dynamic than ever. Cryptocurrency In general, NBFIs have a higher risk tolerance for cryptocurrency than traditional financial institutions.

Regulation 195

Regulation cryptocurrency Policies Management 195

PYMNTS

OCTOBER 13, 2016

Regulation and compliance can be a tough space for many to wrap their heads around. Sunil Madhu , founder and CEO of Socure , joined Karen Webster to give context to some of the compliance concepts trending in the industry and also share his thoughts on what’s coming next down the regulatory pipeline. Compliance Decoded.

Compliance 100

Compliance blockchain Regulation Data 100

CFPB Monitor

JULY 27, 2020

cryptocurrency custody services on behalf of customers, including by holding the unique cryptographic keys associated with cryptocurrency.” It makes the “suggestion” to confer first with the OCC before onboarding any cryptocurrency clients. The key phrase above is “any lawful business.” The letter states that the OCC.

National 113

National cryptocurrency Risk Management Regulation 113

PYMNTS

SEPTEMBER 8, 2020

European crypto exchange Eterbase has announced a hack, affecting hot wallets for six of its listed cryptocurrencies and allowing hackers to make off with $1.6 billion in assorted cryptocurrencies, CoinDesk reported. In other news, Hong Kong's Diginex has raised $20 million as a funding round from private investors, Bloomberg reported.

Bitcoin 141

Bitcoin Fintech cryptocurrency Software 141

PYMNTS

SEPTEMBER 8, 2020

European crypto exchange Eterbase has announced a hack, affecting hot wallets for six of its listed cryptocurrencies and allowing hackers to make off with $1.6 billion in assorted cryptocurrencies, CoinDesk reported. In other news, Hong Kong's Diginex has raised $20 million as a funding round from private investors, Bloomberg reported.

Bitcoin 131

Bitcoin cryptocurrency Fintech Software 131

PYMNTS

SEPTEMBER 29, 2017

Switzerland is the latest nation to take a harder look on this new crowdfunding method, which allows cryptocurrency entrepreneurs to raise millions by creating and selling digital “tokens.”. Bancor Protocol, a Zug-based foundation enabling the creation of other cryptocurrencies, raised over $150 million in June.

cryptocurrency 124

cryptocurrency Bitcoin Regulation blockchain 124

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. Improve your program with insights from the 2021 BSA/AML and Fraud Staff Survey by Abrigo: Top Issues for FinCrime Fighters.

Regulation 195

Regulation Policies Compliance Washington 195

Abrigo

NOVEMBER 11, 2021

Usually, the ransom is a substantial amount of money or cryptocurrency. Monitoring this type of activity is where the keen eye of AML and fraud investigations professionals is crucial and where AML software can provide significant support. . This is a classic layering method using innovative technology. Trends and Typologies.

Fraud 195

Fraud cryptocurrency System Trends 195

Abrigo

NOVEMBER 11, 2021

Usually, the ransom is a substantial amount of money or cryptocurrency. Monitoring this type of activity is where the keen eye of AML and fraud investigations professionals is crucial and where AML software can provide significant support. . This is a classic layering method using innovative technology. Trends and Typologies.

Fraud 195

Fraud cryptocurrency System Trends 195

PYMNTS

MARCH 4, 2020

The bank also inadequately staffed the BSA compliance function. . “Mr. FinCEN encourages technological innovations to help fight money laundering, but technology must be used properly.” . 10, with new regulations for cryptocurrencies, wallets and exchanges. The capped alerts were in place for at least five years.

US 130

US Regulation cryptocurrency Resources 130

Insights on Business

MAY 1, 2018

As the banking Payments ecosystem in Canada continues to expand, IBM is looking forward participating in the upcoming Payments Canada Summit , held in Toronto on May 9-11 with industry leaders, innovators and challengers. Compliance. Cryptocurrencies. Learn more about IBM Safer Payments and fraud detection technology here.

System 126

System Payments blockchain Fraud 126

PYMNTS

SEPTEMBER 30, 2020

Jumio said it intends to integrate the AML screening and transaction monitoring offerings of Beam into its KYX platform to assist in flagging financial crime and simplifying regulatory compliance. FinCEN Director Tells Banks To Look Out For Crypto Fraud. The news follows Jumio’s Sept.

Marketing 130

Marketing New York Cards Conference 130

PYMNTS

NOVEMBER 14, 2019

But this expanded talent pool not only compounds the complexities and volume of payroll tasks, but as Guez noted, compliance can quickly turn into a headache. “It Compliance is still a major challenge. Technological Innovation. Research shows employees quickly become frustrated when payroll mistakes are made.

Payments 127

Payments Compliance Taxes Technology 127

Bank Innovation

MARCH 2, 2018

The 16 registered cryptocurrency exchanges currently operating in Japan will soon form a self-regulating body, after a $530 million heist of digital coins in the region led to investor concerns, Reuters reported today.

cryptocurrency 199

cryptocurrency Regional Regulation Operations 199

PYMNTS

JANUARY 20, 2017

ChronoBank.io, the cryptocurrency company that is trying to change the short-term labor market, is aiming to launch an exchange early next year where buyers and sellers of different trades can trade skills for money and time. Identify fraud and compliance management, like KYC and AML, are also high-value propositions for the tool.

blockchain 100

blockchain Tools Capital Bitcoin 100

PYMNTS

JUNE 5, 2018

Just the opposite, Niall Dennehy, COO of AID:Tech would argue – more like it’s finally found a use case that is more practical and more noble than cryptocurrencies. Has the world finally gone too far with its distributed ledger obsession? Transparency. Scalability.

blockchain 174

blockchain cryptocurrency Data Compliance 174

Alex Jimenez

NOVEMBER 4, 2023

Regulation and Compliance: Not one of the more exciting topics, but there seems to be a growing emphasis on FinTech regulation and compliance, particularly around industry stability and consumer protection. Two years ago, the buzz was all about cryptocurrency and blockchain/DLT. The application of AI was highlighted many times.

Conference 84

Conference Meeting Trends Fintech 84

PYMNTS

FEBRUARY 28, 2018

Why should organizations say “yes” to purchase order matching and “no” to cryptocurrencies? 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. Modo Payments.

blockchain 100

blockchain System cryptocurrency Regional 100

Insights on Business

DECEMBER 19, 2018

In addition, the Federal Reserve and a host of other regulators have released guidance on not only how to address the opportunities of artificial intelligence in financial crime as well as risk management, but what is expected once they look to apply innovative technologies. Heightened supervision expands the aperture.

Regulation 111

Regulation Innovation Compliance Risk Management 111

PYMNTS

JUNE 20, 2019

But for all the help that can be provided, and for all the will within the industry to see innovative changes move into place, the reality is sometimes factors outside of any financial institutions control affect the pace of progress. The Innovative Steps Forward.

Data 166

Data cryptocurrency Regulation Compliance 166

PYMNTS

JANUARY 26, 2017

The good news is that risk and compliance solutions work. As payments and commerce increasingly move online, the industry has focused heavily on creating powerful risk and compliance solutions to stave off illicit activities. One such method is what Frechtling called a “redirect.”

Bitcoin 100

Bitcoin cryptocurrency Compliance Branding 100

FICO

DECEMBER 23, 2020

It has also opened new doors for criminals, who have rushed to exploit the uncertainty in a pandemic world and devised new money laundering and terrorist financing schemes by taking advantage of loopholes in the regulations, new ways of working aided by advances in technology, and electronic payment innovations. Collaboration Will Be Key.

Compliance 52

Compliance Regulation Data Risk Management 52

PYMNTS

JULY 17, 2018

Increasing collaboration promises to help with that task, according to a recent PYMNTS interview with Director of Compliance and Interoperability Kevin Emery at UL , which helps other companies with identity management and security-related issues. Cryptocurrencies will also play a role in consumer trust and collaborative fuel.

eBook 102

eBook Security Millennials Industry 102

NCR

AUGUST 18, 2017

It started out as the rails for cryptocurrencies like Bitcoin, but has evolved as a technology that can transform many legacy business paradigms in the banking sector. This equates to saving between $8 billion and $12 billion a year, with benefits to be found in areas such as regulatory compliance, financial reporting and KYC activities.

blockchain 75

blockchain Technology cryptocurrency Study 75

FICO

MARCH 6, 2020

Visma Connect recently interviewed Jürgen Krieg, FICO's head of global compliance sales. In this excerpt from that article, Jürgen elaborates on the importance of compliance. . At FICO, I am responsible for planning and implementing growth strategies to develop new markets, and the expansion of our compliance business globally.

Compliance 81

Compliance Technology Fraud Analytics 81

Payments Source

NOVEMBER 9, 2018

A new group aims to foster collaboration between fintechs and state and federal officials in the fight against crime — without hindering legitimate business innovation.

Fintech 63

Fintech Groups Innovation Digital Banking 63

PYMNTS

DECEMBER 14, 2017

It’s been a newsworthy week for bitcoin, with agencies around the world concerned with a potential bubble involved in cryptocurrency. 214 | The number of banks surveyed in the PYMNTS Bank Innovation Readiness Index, in collaboration with payments solutions provider i2c.

Bitcoin 122

Bitcoin Data Compliance Survey 122

South State Correspondent

MAY 9, 2022

The most significant problem with bank innovation is that bankers see or hear about a sexy piece of technology at a conference or at another bank and then acquire it. Technology platforms around cryptocurrency, student loans, or financial education may be cool and cheap. However, that is just the direct cost and risk.

Technology 195

Technology Customer Experience Data Training 195

Abrigo

APRIL 18, 2022

Innovation is key in the world of decentralized currencies The United States will have to be creative to stay competitive globally as digital assets enter the mainstream. The innovative world of digital assets has made big strides since its inception in 2009. Would you like other articles like this in your inbox? Rapid Growth.

cryptocurrency 195

cryptocurrency Fraud United States Leadership 195

Abrigo

JULY 22, 2022

Cryptocurrency regulation is on the horizon The ups and downs of the cryptocurrency scene have illuminated a need for guidance for traditional financial institutions. You might also like this whitepaper, "Understanding Cryptocurrency." Historical benefits of cryptocurrency. Cryptocurrency's appeal to consumers.

cryptocurrency 195

cryptocurrency FDIC Regulation Fraud 195

PYMNTS

NOVEMBER 29, 2017

When verifying client identity for know your customer (KYC) and anti-money laundering (AML) compliance, Jiko does not pull customer data and check it against regulators’ do-not-serve lists. In the future, Lintner hopes to bring his bank’s services to an arena he sees as a natural extension: cryptocurrency security.

Digital Banking 108

Digital Banking Trends Security Regulation 108

Accenture

AUGUST 26, 2019

In addition, a number of revolutionary ideas have recently hit the financial services industry, including digital and cryptocurrencies, as well as distributed ledger technology and blockchain.

Industry 174

Industry Payments System Guidelines 174

CB Insights

MAY 15, 2019

With recent advances in blockchain, cryptocurrency, contactless payments, and more, finance is primed for disruption. One popular approach: in-house financial innovation labs. We’ve written about corporate innovation theater before — and how sometimes corporate innovation goes wrong. Get the entire 43-page PDF.

Innovation 78

Innovation blockchain Technology Groups 78

Gonzobanker

DECEMBER 19, 2022

In December, the founder and CEO of Crypto Exchange company FTX was arrested in the Bahamas (yah, don’t ask) and charged with fraud and conspiracy. SoFI gets a commercial bank that brings deposits, compliance, AND business lending. Let’s see how this new scale allows for big investments in future innovation.

Community 216

Community Fintech Industry Innovation 216

Gonzobanker

DECEMBER 14, 2023

Award – goes to CNBC’s Jim Cramer , who lamented that banks should have been innovating offerings like those delivered by PayPal and Square. These two organizations were especially engaged with banks and fintechs in 2023 and proved to be useful experiments in the allocation of financial institution capital to innovation bets.

Fintech 195

Fintech Community Regional Technology 195

PYMNTS

NOVEMBER 19, 2019

Cryptocurrency risk management platform TRM Labs announced that it has raised $4.2 Founded in 2018, TRM helps financial institutions across the US, Latin America, Asia and Europe to measure, monitor and mitigate their cryptocurrency risk exposure, enabling them to simplify customer due diligence and meet regulatory requirements.

cryptocurrency 103

cryptocurrency Risk Management blockchain Capital 103