Insights on Business

DECEMBER 12, 2018

This past year brought governance, risk and compliance (GRC) to the center stage. Organizations in financial services and other sectors witnessed an increase in “airtime” given to risk and compliance issues at the board level. Drive efficiency across risk & compliance processes. Innovating in the open.

Innovation 111

Innovation Compliance User Experience Regulation 111

PYMNTS

MARCH 19, 2019

While China’s central bank did not respond to Guo’s comments, it announced earlier this month that it is planning to develop a system of rules to regulate FinTech in the country. “We The situation of the industry shows that the one-size-fits-all rule will definitely curb innovative businesses.”.

Regulation 138

Regulation Regional Lending Compliance 138

PYMNTS

OCTOBER 17, 2017

Can big banks be nimble of foot when it comes to FinTech? is taking some definitive steps on that stage. Developers are seeking to instantly embed payments inside their organizations, and without the risk and compliance issues often associated with the standard model of payments acceptance. JPMorgan announced today (Oct.

Payments 217

Payments Software Fintech Compliance 217

PYMNTS

OCTOBER 7, 2016

His definition of RegTech is automating highly manual processes or high-cost centers to achieve a new level of scale, but this definition can mean different things depending on the business itself. It’s no question that compliance is now a massive line item on the balance sheet of bigger banks. . Raising The RegTech Bar.

Compliance 197

Compliance System Industry Regulation 197

CFPB Monitor

FEBRUARY 2, 2021

Since the California Consumer Financial Protection Law (CCFPL) became effective on January 1, the state’s Department of Financial Protection and Innovation (DFPI) has wasted no time in asserting its expanded jurisdiction over consumer financial services providers. (The One of the companies entering into an MOU is Payactiv, Inc.,

CA 60

CA Company Innovation Regulation 60

PYMNTS

MARCH 17, 2017

One area in which we’ve seen innovation break through recently may come as a surprise: insurance. If there was any industry that could be viewed as the definition of mundane and stuck in its ways, it would be insurance. PYMNTS: How is blockchain technology impacting the FinTech industry overall? And it’s not specific to FinTech.

blockchain 127

blockchain Industry Bitcoin Innovation 127

PYMNTS

DECEMBER 6, 2017

Collaboration between FinTechs and banks. And, much to the relief of corporates, the continuing focus on B2B payments innovation. We are definitely seeing more innovation in the cross-border B2B space in the last two years than we have ever before,” he recently told PYMNTS. “We That’s where FinTech comes in.

Payments 183

Payments blockchain Innovation Fintech 183

PYMNTS

JANUARY 22, 2018

There are two key focuses for mid-market expense management tools, he said: infrastructure and regulatory compliance. ” Perhaps one of the biggest challenges for this space is that the exact definition of the middle market isn’t exactly clear. “We are more than welcoming them.”

Management 116

Management Compliance Taxes Marketing 116

PYMNTS

MARCH 16, 2017

Althaus explained that, across industries and across company size, businesses essentially experience the same pain points of international accounts receivable: visibility, speed, cost, complexity and compliance. Meanwhile, each particular geographic market has its own set of regulations, geopolitical and compliance demands.

Marketing 109

Marketing Payments Compliance Innovation 109

PYMNTS

AUGUST 10, 2017

Innovation can sometimes be seen as a solution looking for a problem, but it’s time to stop thinking of technology as bells and whistles and start looking at it as a necessary element of doing business for a changing consumer base – and up against a changing landscape of challenges and threats. FinTech operators are very nimble.

How To 136

How To Risk Management Technology US 136

Insights on Business

MARCH 20, 2019

Companies are trying to implement a more common or standard framework for various audits across finance, risk, operations, internal, suppliers, and compliance departments in order for them to achieve better audit efficiency, reinforce compliance and achieve operation excellence. Streamlining your audit with IBM OpenPages with Watson.

Compliance 79

Compliance Risk Management Management Policies 79

Insights on Business

JULY 20, 2017

I wasn’t particularly inspired by the Wikipedia definition , so I’ll give you mine. The emergence of financial technology (fintech) and the push of regulators for more competition are disaggregating and open this closed value chain. The fintech hub. Open banking is here, and it is far from being a compliance exercise.

Fintech 181

Fintech Mobile Examples Data 181

CFPB Monitor

AUGUST 21, 2018

Treasury recommends that this section be interpreted so that “third parties properly authorized by consumers, including data aggregators and consumer fintech application providers, fall within the definition of ‘consumer’… for the purpose of obtaining access to financial account and transaction data.”.

Data 84

Data Report Regulation Security 84

PYMNTS

OCTOBER 19, 2016

Here’s a preview: One of the biggest problems with the new rule is the broad definition of a prepaid account, Fauss said. We thought the definition of prepaid account was too broad in the proposed rule, and we were disappointed that it was not scaled back,” Fauss said. The updated regulations are slated to take effect Oct.

Regulation 100

Regulation Cards Digital Banking social media 100

Insights on Business

SEPTEMBER 18, 2016

Setting the stage for open banking, PSD2 is meant to promote innovation, where new business models emerge and leaders are born. The revised directive PSD2 aims to build interconnections between traditional banks and TPPs, many of whom are FinTechs. Value-Added Services = Profits for Banks. See my previous API blogs.)

Marketing 70

Marketing Payments Compliance Security 70

Gonzobanker

JULY 6, 2021

As information technology departments move from being the provider of all technology services to orchestrator of technology innovation, chief information officers are rightfully asking, “How do we reinvent ourselves in this digital age when we’re saddled with legacy tech debt of 30-year-old, difficult-to-integrate, flat-file-based core systems?”.

Strategy 158

Strategy System Risk Management Technology 158

NCR

DECEMBER 12, 2017

Will Beeson, head of operations and innovation at the SME-focused CivilisedBank, said the new rules provide some “much-needed rigor and definition around the ownership of data” He pointed out that, in the past, businesses have acquired data on individuals and used it for their own gain, sometimes to the detriment of the customer. .

Data 56

Data Regulation Compliance Management 56

PYMNTS

JULY 11, 2016

. “Almost every bank on the planet now has their blockchain exploration division,” McCaleb recently told PYMNTS about the rise of banks’ partnerships with blockchain innovators like Stellar. “They definitely see the writing on the wall that the world is moving in this direction.”

blockchain 100

blockchain Compliance Security Technology 100

CFPB Monitor

JUNE 11, 2019

This bill created the nation’s third regulatory sandbox program for fintechs, after Arizona , which enacted sandbox legislation in March 2018, and Wyoming , which enacted sandbox legislation in February of this year. Notably, Utah’s definition expressly includes blockchain technology. The sponsor of Utah’s legislation, Rep.

Utah 60

Utah Arizona Regulation Innovation 60

PYMNTS

FEBRUARY 28, 2020

Credit unions’ emphasis on member relationships is one of the main factors that distinguishes them from large banks and FinTechs. Larger banks and well-funded FinTechs can create dedicated security operation centers staffed by experts, but CUs often do not have the budgets to offer round-the-clock active protection.

Data 131

Data California Security Pennsylvania 131

PYMNTS

NOVEMBER 26, 2019

PYMNTS’ Credit Union Innovation Index found that CU members may not prioritize the latest technologies as much as bank and FinTech customers do, but they still value easy-to-use mobile apps and online capabilities. Meeting customers’ expectations and desires is a key goal for all enterprises, and credit unions (CUs) are no exception.

Marketing 131

Marketing Sacramento Data Mobile 131

PYMNTS

SEPTEMBER 22, 2017

B2B: The trillion dollar industry that gets overshadowed in innovation by consumer gee-wizardry tech, B2B is gaining more attention by the day. Across the pond, estimates Innovate Finance and Pitchbook, the B2B FinTech market has gotten nearly half of all FinTech funding in the European Union through the past year.

US 108

US Apple Innovation Regulation 108

PYMNTS

NOVEMBER 29, 2017

The business travel and expense (T&E) management space is one of the most active when it comes to new market entrants and innovations for businesses. In part, that’s because young FinTechs are developing sophisticated tools to help companies track spend on business travel. trillion in 2015). “The

Management 100

Management Company Analytics Policies 100

Insights on Business

JANUARY 21, 2020

Unfortunately for compliance, sanctions and AML departments, there is no easy way to identify a shell company. Anyone who claims they can definitively identify a shell company has either a) lied, b) memorized the Panama and Paradise Papers or c) created the company themselves. Why they are hard to spot.

Company 103

Company Taxes Data Management 103

Gonzobanker

MAY 17, 2022

Across requirements in payments, delivery channels, lending, diverse business lines and regulatory requirements, providing solutions to banks is definitely a “triple diamond run” when it comes to complexity and degree of difficulty. This technical friction causes initiatives to slow and allows less room for innovators to deliver new value.

Technology 145

Technology Regional Community Bank Community 145

Insights on Business

JANUARY 21, 2020

Unfortunately for compliance, sanctions and AML departments, there is no easy way to identify a shell company. Anyone who claims they can definitively identify a shell company has either a) lied, b) memorized the Panama and Paradise Papers or c) created the company themselves. Why they are hard to spot.

Company 91

Company Taxes Data Management 91

Gonzobanker

NOVEMBER 17, 2016

Every discussion and presentation focused on the challenges and innovations financial institutions are tasked with to create “frictionless” experiences. The complexity of this future vision underscored the importance of partnerships between the FinTech world and financial institutions to get this vision from cool demo to reality.

Payments 60

Payments Las Vegas Risk Management Cyber Security 60

NCR

AUGUST 18, 2017

Blockchain can unleash innovation across top line applications like loyalty and rewards, Internet of Things, marketplaces, and more – essentially any application where there is an exchange of digital assets, in addition to serving the bottom line. The key applications for the technology.

blockchain 75

blockchain Technology cryptocurrency Study 75

Fintech Labs Insights

OCTOBER 30, 2016

Deloitte recently asked what we should make of “regtech” in a new report titled, “RegTech is the new FinTech: How agile regulatory technology is helping firms better understand and manage their risks.” Compared to “insurtech” – regtech firms have been prominent players in the fintech firmament for years. ” Indeed.

blockchain 12

blockchain Trends Fintech social media 12

Banking 2020

NOVEMBER 9, 2015

And for an industry built on the twin foundations of confidentiality and compliance, that’s one gigantic giant issue. That was a first for the company, and it definitely represented a new era of openness. AP-enabled innovation isn’t a fad; it represents a new way of leveraging existing assets, not diluting their value.

Industry 40

Industry Compliance Data Software 40

CFPB Monitor

MARCH 8, 2017

Earlier this week, we attended the LendIt USA conference in New York City, a leading annual fintech conference, at which CFPB Director Richard Cordray and Comptroller of the Currency Thomas Curry both spoke. Comptroller Curry said that the OCC definitely has authority to grant special purpose charters without new legislation.

Conference 74

Conference Policies New York City Data 74

PYMNTS

DECEMBER 16, 2016

There are others who will state that the definition of mid-market can hinge on the segment of business that is being discussed, such as traditional banking versus commercial banking. King said that at the end of the day, “there are always going to be some arbitrary definitions of what a segment is.” King asked. “In

Marketing Automation 100

Marketing Automation Marketing Cards Payments 100

Lex Sokolin

MAY 13, 2019

The public markets are full of compliance costs, cash-flow oriented hedge fund managers, and passive index manufacturers?—?not Private markets in the US are legally structured for the wealthy by definition and carve-out. The Real Innovation behind the Value A second issue worth considering is the role of Uber in the smartphone.

San Francisco 40

San Francisco Software Trends Google 40

Lex Sokolin

MAY 13, 2019

The public markets are full of compliance costs, cash-flow oriented hedge fund managers, and passive index manufacturers?—?not Private markets in the US are legally structured for the wealthy by definition and carve-out. The Real Innovation behind the Value A second issue worth considering is the role of Uber in the smartphone.

San Francisco 40

San Francisco Software Trends Google 40

Insights on Business

DECEMBER 17, 2018

Over the past year, the discussion of governance, risk and compliance (GRC) has continued in stories related to financial services and other sectors. The reexamining of GRC has resulted in the evolving the definition to one that is more comprehensive and inclusive in its scope. Drive efficiency across risk and compliance processes.

Compliance 121

Compliance Resources System Risk Management 121

Insights on Business

APRIL 10, 2019

” Although we lack a gold standard for a definition, an alternative asset can loosely be thought of as an investment in anything that is not a traditional publicly traded stock, bond, or cash instrument. What constitutes “alternative?”

Management 93

Management Examples Data Analytics 93

South State Correspondent

MARCH 7, 2024

The uptake of this sophisticated technology is setting records at every turn from the pace of innovation to adoption. An IT-only team may become overwhelmed communicating all the new uses and risk for the technology, hampering innovation and the safe usage of Copilot. We are learning here like the rest of the industry. AI handled 2.3

Training 195

Training Data Tools Technology 195