Remove Compliance Remove Exercises Remove Fintech Remove Innovation
article thumbnail

Use This Framework for Better Bank Innovation

South State Correspondent

Every bank wants to be “innovative,” but the truth is innovation is difficult. Add to that a bank’s resource constraints, compliance demands, budget goals, legacy IT infrastructure and talent gaps, and innovation for a bank is extremely difficult. The Problem of Bank Innovation. Framing Innovation.

article thumbnail

APIs Raising Tough Questions About FinServ Innovation, Competition And Data Privacy

PYMNTS

The B2B payments industry is finally beginning to hustle when it comes to technological innovation. And as traditional financial institutions (FI) begin to recognize the value of collaborating with FinTechs, these banks can similarly shake their reputation for being innovation laggards and promote B2B payments progress while they’re at it. .

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

CFPB Director Richard Cordray Shares Bureau’s FinTech Vision

PYMNTS

On Monday (March 6), CFPB Director Richard Cordray presented at the LendIt USA Conference, providing attendees with an overview of where the bureau stands on FinTech innovation. We are learning about what does and does not work for consumers and the potential challenges facing entrepreneurs and investors,” Cordray said.

Fintech 123
article thumbnail

Can PSD2 Get Past Its GDPR Problem As Deadlines Hit?

PYMNTS

From this day forward (March 14), businesses covered by the European Union’s (EU’s) Second Payment Services Directive ( PSD2 ) are supposed to have a testing regime that conforms to the FinTech regulation. The core of PSD2 is Open Banking, not the hoarding of accounts from a few big banks to hold up innovation in the payments world.”.

Exercises 188
article thumbnail

APIs Raising Tough Questions About FinServ Innovation, Competition And Data Privacy

PYMNTS

The B2B payments industry is finally beginning to hustle when it comes to technological innovation. And as traditional financial institutions (FI) begin to view the value of collaborating with FinTechs, these banks can similarly shake their reputation for being innovation laggards and promote B2B payments progress while they’re at it. .

article thumbnail

Top 10 Regulatory Topics NBFIs Should Prepare for in 2022

Abrigo

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.

article thumbnail

Open banking APIs are open for business

Insights on Business

The emergence of financial technology (fintech) and the push of regulators for more competition are disaggregating and open this closed value chain. Open banking is often mentioned in relationship to compliance with regulatory standards, but in reality, the regulators are only catching up with what is happening in the market.

Fintech 181