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

In addition, Guo noted that many of the businesses that started as part of Dianrong’s expansion have now become “heavy burdens with unbearable high costs” due to the regulations. We hope regulators can give the industry a clear and definite timetable, and give guidance and a ray of hope for companies that stick to compliance,” Guo said.

Regulation 138

Regulation Regional Lending Compliance 138

PYMNTS

OCTOBER 19, 2016

According to Brad Fauss, president and CEO of the Network Branded Prepaid Card Association, the recently released regulations on prepaid cards from the Consumer Finance Protection Board could be another instance of good intentions gone wrong. The updated regulations are slated to take effect Oct.

Regulation 100

Regulation Cards Digital Banking social media 100

PYMNTS

JULY 11, 2017

The basis of innovation is not the desire to create something new or even the inspiration to do so. Innovation occurs where there is a problem and a person with the tools to solve it. Anyone can have a good idea,” Lowthers said; innovation is about what you do with it. PYMNTS: Where do you look for innovative ideas, and why?

Innovation 101

Innovation social media Security Leadership 101

Abrigo

MARCH 24, 2021

Anti-Money Laundering Act of 2020 BSA professionals should prepare for changes as new regulations and guidance from FinCEN unfold. Takeaway 2 While the AMLA is now law, regulations, guidance, and other information still needs to be written. These include conducting studies, writing regulations, and publishing guidance.

Regulation 195

Regulation Training Study Policies 195

PYMNTS

SEPTEMBER 29, 2017

But the banks themselves also have complex demands for their own treasury departments, which, like other corporations, must be able to manage finances, risk and compliance. Compliance with domestic and international standards is considered a must,” Beaulande recently told PYMNTS.

Fintech 141

Fintech Risk Management Compliance Management 141

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

CA 60

CA Company Innovation Regulation 60

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

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

ZootBlog

JANUARY 14, 2016

Over the past several years as banks focused on staying in compliance with myriad new regulations, innovation slowed—nearly to a standstill. In 2016 equilibrium will start to take place as the financial industry embraces the tremendous potential technology holds for them and innovation finds its way back.

Innovation 73

Innovation Industry blockchain Customer Experience 73

PYMNTS

SEPTEMBER 20, 2018

Regulations are driving the trucking and logistics industry to adopt cutting-edge technologies. Requirements around the recording of digital data — for instance, newer rules on Hours of Service records and electronic recording of drivers’ hours worked — have industry players adopting tools to maintain compliance.

Industry 158

Industry Tools Regulation Management 158

Insights on Business

APRIL 3, 2018

This paradigm] assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as they look to advance their technology.” – Open Innovation: Researching a New Paradigm. Applying open innovation arises from current challenges facing the industry.

Las Vegas 159

Las Vegas Innovation Industry System 159

PYMNTS

APRIL 10, 2020

The challenge is thus not figuring out if mobile disbursements are possible, but how they can be made, given insurers’ legal and compliance issues. v has yet to build out support for more innovative mobile disbursement methods, but it does have the technical capacity to do so.

Mobile 198

Mobile Technology social media Customer Experience 198

PYMNTS

JULY 27, 2020

That a market is massive and emerging as a target for digitization, does not necessary mean it will be an easy target to pursue — a lesson learned the hard way by Facebook in June when regulators hit the pause button on its adding payment capabilities to WhatsApp in Brazil. This is definitely happening.

Mobile 153

Mobile America Regulation Regional 153

Insights on Business

JANUARY 3, 2019

Simultaneously, regulators and auditors are issuing new cybersecurity regulations and guidelines. Regulatory compliance : Given these challenges, regulators from around the globe continue to act by issuing and amending guidelines on the usage of cloud and how to prevent and respond to cyber threats.

Risk Management 128

Risk Management Management Regulation Guidelines 128

FICO

JANUARY 18, 2023

The third annual State of Responsible AI in Financial Services report released today, alerting the industry to come together and self-regulate its use of AI. More than ever, I believe this year’s report sounds the alarm bell for financial services firms, signaling that the industry must come together to self-regulate its use of AI.

Analytics 52

Analytics San Diego Regulation Compliance 52

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

South State Correspondent

JUNE 27, 2023

One major innovation is the ability to send an “information only” message to add more data to a transaction message. This allows an entirely new layer of transaction richness to take place and for banks to innovate on various products. This increased interoperability can drive innovation and open up new business opportunities.

System 195

System Data Examples Payments 195

PYMNTS

DECEMBER 6, 2017

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 The evolution of blockchain-based services. Collaboration between FinTechs and banks.

Payments 183

Payments blockchain Innovation Fintech 183

CFPB Monitor

APRIL 6, 2017

In recognition of the numerous compliance difficulties posed by the rule, the CFPB has indicated that it is amenable to making substantive changes to the rule, and on March 9, the CFPB proposed to delay the rule’s implementation date in response to feedback from the prepaid industry.

Compliance 68

Compliance Industry Regulation Innovation 68

CFPB Monitor

APRIL 6, 2017

In recognition of the numerous compliance difficulties posed by the rule, the CFPB has indicated that it is amenable to making substantive changes to the rule, and on March 9, the CFPB proposed to delay the rule’s implementation date in response to feedback from the prepaid industry.

Compliance 68

Compliance Industry Regulation Innovation 68

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

JULY 18, 2018

And now there’s a definitive amount, and it’s nothing to sneeze at: $5 billion (or about 4.3 The findings via the EU are that, according to the antitrust regulator, Google abused that very dominance of the operating system to the benefit of its own mobile offerings, which includes, of course, the search engine itself.

Google 101

Google System Operations Mobile 101

CFPB Monitor

AUGUST 21, 2018

The Treasury suggests that federal banking regulators take action to resolve this ambiguity. Other financial regulators should support data aggregation. Data security addressed by GLBA Safeguards Rule. On September 20, 2018, from 12 p.m. to 1 p.m.

Data 84

Data Report Regulation Security 84

PYMNTS

OCTOBER 24, 2018

When it comes to data privacy, it’s not all about General Data Protection Regulation (GDPR), and it’s not all about Europe. There are monetary penalties involved in the event that data is used in non-compliance with laws. Here in the U.S.,

Data 122

Data US California Guidelines 122

PYMNTS

MAY 10, 2016

But Tungsten Head of Compliance Lucy Ashdown offered her take on the company’s research to discuss why FinServ firms might be seeing more invoice fraud than other industries. Ashdown said government regulation can be a first line of defense for these businesses when combating invoice fraud. Invoice fraud is definitely a global problem.

Fraud 100

Fraud Compliance Security Industry 100

CFPB Monitor

SEPTEMBER 18, 2019

We previously reported on the CFPB issuing its final No-Action Letter policy and other innovation policies. (The Housing counseling agencies can apply for approval to participate in the Program and must meet the Program requirements set forth in HUD regulations and other HUD materials. of Regulation X.”

Policies 74

Policies Regulation Compliance Meeting 74

CFPB Monitor

JUNE 11, 2019

Regulatory sandboxes are laboratories for the development of innovative technologies in an environment that is free from onerous government restrictions. Notably, Utah’s definition expressly includes blockchain technology. The sponsor of Utah’s legislation, Rep.

Utah 60

Utah Arizona Regulation Innovation 60

Insights on Business

JULY 20, 2017

I wasn’t particularly inspired by the Wikipedia definition , so I’ll give you mine. Regulations, such as Payment Services Directive (PSD2), are forcing banks to “open up”, enabling customers to easily share data with third parties. Open banking is here, and it is far from being a compliance exercise. Open banking for all.

Fintech 181

Fintech Mobile Examples Data 181

NCR

DECEMBER 12, 2017

The General Data Protection Regulation (GDPR) was developed with the intention of strengthening and unifying data protection for all people within the EU. Three industry executives discussed this subject during a recent Marketforce webinar exploring the ‘regulation revolution’ in financial services.

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

FICO

DECEMBER 20, 2021

After more than a decade of waiting, the Consumer Financial Protection Bureau will issue long-awaited regulations, in accordance with section 1033 of the Dodd-Frank Act , that provide consumers with a right of access to their financial information. Despite a Wave of New Product Innovations, New Overdraft Rules Are on the Way.

Policies 52

Policies DC Regulation Industry 52

Javelin Strategy & Research

SEPTEMBER 2, 2014

I can’t get enough of innovation and digital strategy. My 30 year career started in merchant e-commerce technology, with numerous product management/leadership/launch roles before moving over to product-innovation research some fifteen years ago. I’ll provide one more example of the elusive win-win innovation.

Innovation 58

Innovation DC FDIC Strategy 58

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. Just sayin’.

US 108

US Apple Innovation Regulation 108

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. Although the technical details of PSD2 have not been fully defined yet, the use of APIs for secure data exchanges that have compliance rules built-in are accelerating in many industries.

Marketing 70

Marketing Payments Compliance Security 70

PYMNTS

MARCH 14, 2019

Broadly, he noted, consumers want to eliminate friction while remaining secure — and the future of replacing the password will be in offering the right technological innovations in the right contexts to fulfill both of those needs. The sweet spot there, obviously, is high value and highly regulated.”. The Consumer in Context.

Innovation 148

Innovation Security Google Technology 148

PYMNTS

FEBRUARY 28, 2020

PYMNTS’ Credit Union Innovation Index found 65 percent of CU members chose credit unions as their primary financial institutions (FIs) because they trusted them, compared to 45 percent of non-CU members who said the same. The regulation applies to businesses, which it defines as any organization operating for profit.

Data 131

Data California Security Pennsylvania 131