Abrigo

DECEMBER 17, 2021

Components of an effective fintech partnership If leveraging new technology is a priority for your FI, ensure these three elements are present for an effective fintech partnership. . Takeaway 2 When evaluating a fintech partnership, ask how the vendor will help with integration, training, and ongoing success.

Fintech 195

Fintech How To Innovation System 195

PYMNTS

OCTOBER 16, 2019

Money laundering has always troubled financial institutions, but today’s digital banking system creates additional complexities as fraudsters around the world take advantage of financial technologies. The Cost of Compliance. Challenges and Solutions.

Compliance 123

Compliance Fraud Study Digital Banking 123

PYMNTS

JUNE 24, 2019

With the Strong Customer Authentication (SCA) compliance deadline less than four months away, banks are still underprepared. While banks continue to open their application programming interfaces (APIs) to third-party providers and FinTech firms, many are still in the dark when it comes to SCA.

Fintech 161

Fintech Regulation Compliance Data 161

Insights on Business

MAY 1, 2019

While deregulation has been a trend over the past few years, compliance monitoring and regulatory change management remains a top focus for financial institutions of all sizes. Greater availability of data, facilitated by real-time integrations makes it possible for compliance experts to monitor a wide variety of sources.

Compliance 122

Compliance Management Regulation Analysis 122

PYMNTS

NOVEMBER 12, 2020

In today’s top payments news around the world, Visa is rolling out a new program meant to link European financial institutions (FIs) and merchants with cutting-edge digital payment offerings, Payments Canada is teaming with Mastercard’s Vocalink to advance a new Real-Time Rail (RTR) payment system. The RTR is forecasted to roll out in 2022.

Payments 142

Payments Fintech Exercises Risk Management 142

PYMNTS

MAY 29, 2019

Reports in Reuters on Tuesday (May 28) said UBS expects its regulatory costs to remain high in the years ahead after a decade of more stringent regulations leading to heavier, more costly burdens on banks. “That has tied up enormous resources.” “Why is this so significant?

Regulation 108

Regulation Compliance Capital Resources 108

PYMNTS

SEPTEMBER 29, 2017

Banks are finding it more difficult than ever to ignore potential FinTech partnerships that could better serve their corporate customers. When it comes to corporate treasury, business clients demand robust solutions and services from their banks, and FinTech players are stepping in to help.

Fintech 141

Fintech Risk Management Compliance Management 141

Gonzobanker

APRIL 20, 2020

Compliance plays an important role in a financial institution’s relationship with its customers. As banks evolve to a digital-centric operating model, one of the laments Cornerstone often hears from our clients is, “Compliance won’t let us do that.” Give Compliance a Seat at the Table – Early.

Compliance 78

Compliance Customer Experience Guidelines Technology 78

FICO

AUGUST 12, 2021

Financial Institutions’ compliance officers and teams should be concerned that Open Banking may render their existing AML/CTF and KYC compliance programs inadequate. In some markets, like the EU, Open Banking is mandated and regulated. AML compliance has not traditionally focused on monitoring this type of network.

Compliance 52

Compliance Regulation cryptocurrency Marketing 52

Bank Innovation

JANUARY 3, 2017

AI systems may be getting smarter with the ever-expanding flow of data, but are they also getting more ethical? When it comes to fintech, artificial intelligence has a seemingly endless range of possibilities to transform present systems, so long as the AI system that is applied is constructed with the correct values Read More.

Fintech 353

Fintech System Data Compliance 353

Let's Talk Payments

AUGUST 3, 2017

PSD2 is the directive that is deeply changing the financial system, especially in the payment services segment. It not only affects banks and payment service providers but also companies that.

System 111

System Compliance Regulation Payments 111

CFPB Monitor

SEPTEMBER 14, 2021

Last week, the Federal Reserve Board published a paper on partnerships between community banks and fintech companies, “Community Bank Access to Innovation through Partnerships.” The Fed’s publication of the paper is another indication of the increased attention that regulators are paying to bank relationships with fintechs.

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Fintech Community Bank Community FDIC 78

PYMNTS

MAY 30, 2018

Banks, he noted, have to be compliant with a host of extremely stringent regulations, and often across multiple jurisdictions – all with different rules. And, he noted, banks and FinTechs are going to need time to negotiate their relationships with each other, and with consumers the world over. Why Banks Need FinTechs.

Fintech 160

Fintech Regulation Compliance Innovation 160

Abrigo

DECEMBER 22, 2023

Articles on creating a sound credit risk rating system and preparing for the possibility of new requirements such as the CFPB ruling were among the most-viewed throughout the year. Regulators stress the importance of accurate and timely risk ratings, especially during economic uncertainty. Read the buyer's guide to lending solutions.

Lending 221

Lending Risk Management Community Management 221

Insights on Business

NOVEMBER 12, 2018

Today, governance, risk and compliance (GRC) is being transformed by not only rapidly-evolving regulatory standards and growing costs of non-compliance, but also by the clear and present need for greater GRC adoption/engagement – by the first line of defense – while delivering added value by empowering business users.

Compliance 107

Compliance Technology User Experience Analytics 107

PYMNTS

SEPTEMBER 18, 2018

Singapore Signs On With FinTech Firms. In Singapore, news came this week that the country will open up its real-time payment system to FinTech firms. The movement to open that FinTech access, said the minister, brings “greater convenience to consumers” as those individuals use their eWallets. In The Middle East.

Fintech 166

Fintech New York US National 166

PYMNTS

DECEMBER 14, 2018

When PYMNTS asked cross-border payments experts at the end of last year what they thought the driving trend would be for the industry in 2018, the consensus was all about collaboration , particularly between banks and FinTech firms. “The modern-day client expects a seamless transaction experience,” he said.

Fintech 192

Fintech Payments Innovation Regulation 192

PYMNTS

APRIL 12, 2019

But FinTechs and financial institutions are increasingly crafting partnerships designed to help them both thrive in this global world of digital payment and commerce. It used to be — at least according to common perception — that FinTechs and financial institutions were viewed almost as cats and dogs, as natural, even eternal antagonists.

Fintech 168

Fintech Innovation Mobile Payments 168

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. The discussions were healthier, more compliance-focused, and with little expectations that banks were going to offer crypto to their customers any time soon.

Conference 221

Conference Las Vegas Fraud Case Study 221

PYMNTS

APRIL 18, 2017

Banks and financial institutions spend billions of dollars to ensure they are meeting compliance requirements and properly managing risks. The system isn’t working,” he told PYMNTS. “It’s Instead, the company’s modular compliance platform marries technology and strong data to help companies manage their risk better.

Compliance 111

Compliance Data Austin Management 111

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.

Security 174

Security Fintech Data Fraud 174

PYMNTS

AUGUST 20, 2018

Three months in, the European Union’s General Data Protection Regulation still stymies some firms seeking to comply with new rules and regulations governing data protection and privacy. As many as 85 percent of firms are boosting budgets over the previous year’s, tied to data privacy and compliance.

Fintech 101

Fintech Survey Regulation Resources 101

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Certainly, the use and availability of cryptocurrencies is another emerging area that is contending with its own unique set of compliance issues, but it is also one Wingert said appears to be closing gaps in regulation.

Fraud 270

Fraud Compliance cryptocurrency Security 270

PYMNTS

DECEMBER 28, 2020

Published reports indicate that China’s central bank and banking, securities and foreign-exchange regulators summoned Ant Group executives this past weekend to discuss official concerns about the firm. Any FinTech disruptor, when it becomes so big, represents systemic risk,” he told Webster. Reuters quoted central bank Vice Gov.

US 168

US Regulation Groups System 168

PYMNTS

JUNE 18, 2020

More than 40 different FinTechs, digital currency companies and nonprofits are teaming up to launch a universal payment ID in a bid to make transferring money akin to sending an email. We are excited to facilitate borderless, frictionless instant transactions for free for users.”.

Payments 247

Payments Compliance Regulation Groups 247

PYMNTS

NOVEMBER 10, 2020

It’s here now and being used to make good banks better — whether to eliminate discrimination in lending decisions, add stability to existing screening systems or drive loan growth and profits. The rest will go toward developing partnerships with governments and regulators “to raise the bar” when it comes to modern, unbiased lending.

Lending 345

Lending Software Compliance System 345

Insights on Business

MARCH 5, 2019

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. The key is simple: financial institutions just need to improve the efficiency of their people and systems. The question is, how to do this, while keeping the regulators happy?

Regulation 70

Regulation Compliance Analysis Innovation 70

Let's Talk Payments

AUGUST 9, 2017

In the aftermath of the 2008 economic crisis, financial services regulators introduced a number of new measures to safeguard both the integrity and security of the financial system.

Compliance 106

Compliance Industry Report Fintech 106

PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

Mobile 229

Mobile Report America Regulation 229

PYMNTS

NOVEMBER 6, 2019

Billon , which created the first enterprise distributed ledger technology (DLT) system, announced that it is one of six companies that have been selected to participate in the Elevator Lab Partnership Program. We intend to operate in full compliance with the SEC’s guidance in the TurnKey Jet, Inc.

blockchain 101

blockchain System Bitcoin Compliance 101

CFPB Monitor

MAY 18, 2021

The Board of Governors of the Federal Reserve System recently issued and invited public comment on proposed guidelines to be used by Federal Reserve Banks to evaluate requests for master accounts and/or access to Federal Reserve Bank (Fed) financial services, in order to support a more “transparent and consistent” approach to such requests.

Fintech 78

Fintech Guidelines Policies System 78

PYMNTS

JANUARY 6, 2020

With the General Data Protection Regulation (GDPR) and the revised Payments Services Directive (PSD2) humming along in Europe, open banking is overtaking the financial world just as consumer data law gets muscular. Turkey is a prime example, being a major proving ground for the region’s FinTechs and open banking hopefuls.

Fintech 130

Fintech Regulation California System 130

Insights on Business

JUNE 20, 2018

In today’s global marketplace, financial services firms must grapple with competition, increasing regulation and market volatility while also maintaining profitability and growth in a world disrupted by emerging technologies and fintechs. Simply put, traditional systems and business processes just aren’t enough.

Regulation 70

Regulation Compliance Analytics System 70

CFPB Monitor

AUGUST 31, 2021

The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide). Legal and regulatory compliance. Information security program and information systems.

Community Bank 78

Community Bank Community Fintech Company 78

Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

Regulation 195

Regulation cryptocurrency Policies Management 195

PYMNTS

JULY 19, 2018

It’s no secret that banks and FinTechs are collaborating at a rate faster than ever before. The need is there for a comprehensive approach for risk management, which in turn means that both FinTechs and FIs need a strong, consistent strategy and roadmap from the very start of collaborations.

Fintech 107

Fintech Risk Management Big Data Management 107

PYMNTS

SEPTEMBER 15, 2017

The favored narrative about banks and FinTech startups is generally not a love story. Whereas FinTechs are undoubtedly newer and faster – risen from the digital age to put banks out of business – they aren’t always able to take deposits or keep some of those associated warranties. Usually, it is more of an all-out war story.

Fintech 198

Fintech System Lending Cards 198