PYMNTS

NOVEMBER 4, 2020

Some FinTech leaders say that this lack of modernization is at least partly to blame for the estimated $1.5 Today, some documents are still sent the old-fashioned way," explained Tsafrir Attar , vice president of Digitization at Surecomp. Sometimes, they're still sending documents using snail mail.". The RegTech Opportunity.

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PYMNTS

MAY 12, 2020

Traydstream , a FinTech that looks at trade documents with artificial intelligence (AI), has partnered with Infosys Finacle to implement blockchain technology and further automate trade finance, according to a press release.

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blockchain Compliance Regulation Fintech 213

Insights on Business

JUNE 28, 2018

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. Use the right technology.

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PYMNTS

DECEMBER 11, 2019

When it comes to lending — to say nothing of the wider world of payments — innovation and disruption have been on the rise in recent years thanks to digital and mobile technology, along with online marketplace models. That doesn’t mean it’s been easy. So-called peer-to-peer (P2P) lending has certainly faced challenges in certain markets.

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Fintech Lending Regional Regulation 144

PYMNTS

MARCH 8, 2018

and group compliance director, explained to PYMNTS how online tools can make remote identity verification even more robust than in-person processes — and also help kick cross-border payments into higher gear. Having those compliance checks in place is crucial for a cross-border operation. Staying Compliant in Different Countries.

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Compliance Regulation Online Payments 101

PYMNTS

JUNE 5, 2020

Financial Institutions (FIs) that adopt open banking allow third parties like FinTechs to integrate with their application programming interfaces (APIs) to provide personalized financial management and payment apps that draw on bank customers’ data. We need to manage risk appropriately, but open banking is a good thing,” Davies said.

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Security Fintech Data Fraud 174

PYMNTS

APRIL 23, 2020

Below, PYMNTS rounds up the latest solutions that FinTechs and lenders are developing to ease the PPP lending process for SMBs and FIs alike, with many initiatives focused on enabling regional and community banks to maintain a competitive edge against the biggest banks. Lendsmart, Griffin Technologies. Citizens Bank Of Edmond.

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Fresno Regional Fintech Lending 142

PYMNTS

JUNE 7, 2018

As financial institutions grapple with compliance costs, a finance industry organization in Asia wants regulators to allow new technologies that could help them fight money laundering.

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Regulation Fintech Examples Industry 162

PYMNTS

MAY 26, 2017

Mizuho Financial Group , the Japanese financial company, is gearing up to launch a venture in June to create new businesses with FinTech. If we try to pursue business innovation within the bank, we have to ask around for permission from people in risk management, compliance and others. It takes forever,” said the executive.

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Fintech blockchain New York Risk Management 100

Perficient

NOVEMBER 17, 2020

Many banks have leveraged digital technologies like cloud computing, robotic process automation, artificial intelligence, and chatbots in response to Covid-19. The Paycheck Protection Program (PPP) is an excellent example of how banks leveraged technology to meet customer needs.

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PYMNTS

JUNE 9, 2020

FinTech firms and government bodies are responding to the wave of cybercrime by developing new anti-money laundering (AML) and know your customer (KYC) technologies, particularly those leveraging biometric authentication factors. Other companies are adopting biometric identity verification solutions from third-party FinTechs.

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PYMNTS

APRIL 21, 2019

JPMorgan Chase is planning to expand its use of blockchain technology to improve the banking industry’s payment system, as well as get FinTechs to experiment on developing the platform. The platform allows banks to quickly resolve compliance issues that can delay payments by weeks.

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blockchain Payments Fintech Compliance 197

PYMNTS

FEBRUARY 20, 2019

Its platform relies on machine learning to organize documents and connect information to enable instant compliance and faster decision making for lenders and developers in the real estate market. We are committed to being on the forefront of technology, and working with Rabbet ensures we stay on the leading edge.”.

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PYMNTS

MARCH 2, 2018

and India drove a surge in FinTech venture capital funding in 2017, and Accenture Financial Services Senior Managing Director Julian Skan pointed to the B2B business model as a significant presence in this trend. Total venture capital across the global FinTech market between 2010 and 2017 hit a combined $97.7 For markets like the U.K.,

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PYMNTS

JUNE 30, 2020

That includes uploading documents, scanning documents with a phone, or even using biometrics or OCR (optical character recognition) technologies. Technology (as offered by FinTechs to streamline and make compliance more efficient) will transform how people send money, said Bermingham.

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Payments Technology Compliance Fintech 253

Abrigo

DECEMBER 22, 2023

Takeaway 2 The top lending and credit blog posts focused on the benefits of banking technology, interest rate management, and developing risk ratings. If your financial institution is considering new banking technology, read this blog for decision-making tips. But the benefits of automation are a key part of the customer experience.

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Lending Risk Management Community Management 221

PYMNTS

AUGUST 7, 2017

PFU will provide its scanning technology to Traydstream to integrate scanning services into its offering. The scanners will facilitate the firm’s OCR technology to scan and extract data from physical trade documents. The company isn’t the first to use these technologies in the trade finance space.

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Data Compliance Resources Industry 128

PYMNTS

NOVEMBER 11, 2019

CamelONE Trade Finance will connect businesses to a range of trade finance applications, the result of vCargo Cloud’s partnership with Singapore Customs and the country’s Government Technology Agency. The ecosystem has also supported bank-FinTech collaboration in the market.

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Operations Compliance Fintech National 100

PYMNTS

DECEMBER 9, 2020

The process involves capturing a user’s live photo to compare alongside an official document, such as an Aadhaar card, which bears a unique, 12-digit ID number. billion in funding as of April, although the virus’s spread was greatly impacting India’s FinTech space. Such entities in India were granted relief on Jan.

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Accenture

MARCH 23, 2017

I wanted to follow on from my previous blog around the emergence of RegTech (technologies that address the challenge and cost of regulatory compliance.) Right now, compared with Fintech, RegTech has low investment for the size of spend. Lessons can be learnt from how banks partnered with Fintechs. RegTech means… RegTech!

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Accenture

MARCH 23, 2017

I wanted to follow on from my previous blog around the emergence of RegTech (technologies that address the challenge and cost of regulatory compliance.) Right now, compared with Fintech, RegTech has low investment for the size of spend. Lessons can be learnt from how banks partnered with Fintechs. RegTech means… RegTech!

Regulation 150

Regulation Industry Trends Compliance 150

PYMNTS

OCTOBER 16, 2018

Construction FinTech has evolved to target an array of financial friction points, with delayed payments, a mountain of paperwork and a crowded supply chain of contractors and subcontractors adding hurdles in the financial supply chain. Separate Contract Simply research found that it takes a lender an average of 5.5

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Payments Fintech Lending Management 161

Bank Innovation

APRIL 28, 2017

It is expensive and time-consuming, and a lot of work to gather documents and data. It makes sense that fintech startups are taking on mortgages, but the uptake has been slow — until today. SAN JOSE, Calif. — Getting a mortgage is a terrible experience. Yesterday, a few mortgage services took the stage here at […].

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Insights on Business

JULY 30, 2019

In this series of blogs , we focus on four high-growth transformative technologies with emerging risk applications which can help banks and financial institutions complete and protect the enterprise. Advanced analytics and aggregation technology can be applied to dynamically aggregate data and conduct large scale, real time analysis.

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Risk Management Analytics Technology Management 70

BankInovation

JUNE 6, 2022

Founded in 2018, TradeSun automates cybersecurity, compliance and document processing for digital trading at banks, and counts the $1.2 trillion Lloyds Bank and technology consultancy IBM among its partners. Cloud-native trade finance platform TradeSun has big buy-in from JPMorgan Chase.

Data 52

Data Compliance Technology Fintech 52

Insights on Business

JULY 26, 2018

One of the best things about working at IBM—and in the RegTech field in particular—is meeting daily with the engineers and developers who are driving technological innovation in the financial industry. For corporations, this can be very tedious, given the amount of certified information and documents they need to provide.

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blockchain Innovation Customer Experience Compliance 151

Abrigo

DECEMBER 20, 2021

Inadequate staffing: The lack of technological and human resources will result in deficiencies in an AML program. The CBOT investigation determined that this was not an adequate number of analysts and that they were not thoroughly reviewing the documentation of each unusual activity alert.

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CFPB Monitor

AUGUST 8, 2022

To help financial services companies manage the federal approvals, state licenses, and foreign “doing business” registrations they are required to maintain—and avoid penalties for non-compliance—Ballard Spahr has launched Ballard360 LicenSync. LicenSync is completely customizable.

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PYMNTS

APRIL 3, 2018

Between the threat of FinTechs and small business owners’ increasing willingness to switch banking providers, financial institutions are waking up to the demand for better SMB services. This reality is often cited by small business FinTechs. It is, however, evident that technology will win.”.

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blockchain Tools Regulation Fintech 177

ABA Community Banking

DECEMBER 4, 2020

The post Federal Reserve to Publish Interagency FinTech Partnership Guide appeared first on ABA Banking Journal.

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PYMNTS

DECEMBER 2, 2016

It’s certainly not the largest funding round the B2B FinTech industry has seen. Wholesalebox said it will use the funds to expand operations into new markets and scale its technology infrastructure. It will also explore additional services like licensing and legal document support. with an $18 million investment.

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Insights on Business

OCTOBER 23, 2019

IBM OpenPages with Watson is an integrated governance, risk, and compliance platform that companies can use to assist in managing risk and regulatory challenges across the enterprise. The Gartner document is available upon request from IBM. What is OpenPages with Watson. and/or its affiliates, and is used herein with permission.

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Risk Management Compliance Management Policies 125

PYMNTS

MARCH 26, 2018

The rise of RegTech is not by chance: There is an undeniable link between regulatory changes and technological innovation, and that link has a profound impact on FinTech and the financial services market. Europe is an epicenter for both regulatory shifts and FinTech innovation.

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Taxes Fraud Compliance Regulation 102

Chris Skinner

APRIL 3, 2017

I recently was talking about how blockchain is great for IslamTech, as Islamic financial instruments have different degrees of compliance with Sharia Law, dependent upon the Imams who authorise the product. We seem to have lost a lot of buzz on blockchain this year, even thought it’s still buzzing away as much as ever before.

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blockchain Compliance Strategy Technology 263

PYMNTS

JULY 5, 2018

That includes a new Know Your Customer (KYC) application for banks, as well as Hong Kong’s latest cross-border trade finance initiative using distributed ledger technology (DLT). Banks and regulators joined together to begin testing a new KYC-compliance solution developed on R3 ‘s Corda blockchain platform.

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blockchain Compliance Technology Regulation 117

PYMNTS

SEPTEMBER 25, 2020

Documents sent by banks to the Financial Crimes Enforcement Network (FinCEN) of the U.S. Massachusetts-based accounts payable (AP) automation technology firm MineralTree Inc. MineralTree bought Atlanta-based Regal Software and California FinTech Inspyrus. MineralTree Raises $50M, Buys Two Companies. Trackers And Reports.

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Maine social media Atlanta Massachusetts 153

Abrigo

MARCH 11, 2022

As sanctions become more complex and require constant diligence, Office of Foreign Assets Control (OFAC) compliance should be a high focus for your business. If you need assistance enhancing your sanctions program, this downloadable Key Components of a Strong Sanctions Compliance Program may help.

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