PYMNTS

FEBRUARY 7, 2019

Tightening regulations have introduced loftier compliance burdens to global supply chains, made even more complex and challenging as companies do business with thousands of vendors across borders. The burden of regulatory compliance came to a head in the U.S. regulations, even if a vendor is not in the U.S.

Compliance 164

Compliance Retail blockchain Regulation 164

PYMNTS

APRIL 4, 2019

SWIFT announced Thursday (April 4) that its working group of payments industry experts is creating a common end-to-end implementation to increase the move of cross-border transactions to the ISO 20022 standard. In a press release, SWIFT said the community has decided to create the standard in light of multiple planned migrations to ISO 20022.

Groups 146

Groups Guidelines Community United States 146

PYMNTS

AUGUST 9, 2020

CHAMPS Group Purchasing is partnering with Procurement Partners , which works in procure-to-pay (P2P) solutions, to provide a new service for suppliers, a press release says. Our GPO members are looking for savings that go beyond commodities to operational savings which impact their bottom line,” Wise said, according to the release. “We

Groups 146

Groups Compliance Software Community 146

PYMNTS

JULY 7, 2020

“While well-intended at the time, conflicts stemming from local law enforcement agencies applying their own interpretations of conflicting state and local mandates forced retailers to shift valuable time and resources away from store operations. Wearing a mask is not about fear, and it certainly should not reflect one’s politics.

Retail 151

Retail Groups social media Policies 151

PYMNTS

JANUARY 19, 2021

NAB will add Eedenbull’s Q Business platform to its offering to help SMBs track and manage spend, as well as to automate compliance controls. Italy’s BNL , part of BNP Paribas Group , has debuted its multi-banking solution developed in conjunction with open banking FinTech Tink , according to a press release. BNL Goes Live With Tink.

Fintech 341

Fintech National Groups Tools 341

PYMNTS

JUNE 10, 2019

Oracle has announced new enhancements for its Retail Brand Compliance Management Cloud Service , which will enable retailers to monitor the integrity of their materials and end products. The biggest names in grocery rely on Oracle Retail Brand Compliance to meet these expectations, while protecting their customers and brands.”

Compliance 115

Compliance Retail Branding Analytics 115

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

PYMNTS

NOVEMBER 16, 2020

Group Seeks to Block Maryland Online Advertising Tax. Amazon said in a statement, per the BBC , “Amazon represents less than 1 percent of the global retail market, and there are larger retailers in every country in which we operate.”.

Maryland 151

Maryland Taxes Online Groups 151

PYMNTS

JUNE 18, 2020

The London-based trade group for Europe’s ePayments community is waiting for the European Banking Authority , the European Union (EU) banking regulator, to provide the 27-nation bloc with an update on Strong Customer Authentication (SCA). PYMNTS recently reported the pandemic has thrown daily operations for merchants in the EU and the U.K.

Groups 131

Groups Regulation Fraud Security 131

PYMNTS

SEPTEMBER 2, 2019

Although regulation could make it hard for some crypto firms to continue operations, Murray said it’s not the BSA’s job to accommodate everyone. Facebook chose to incorporate the group that will govern Libra in Switzerland. The FIN testimony also recommended that legislation gets passed that bans anonymous companies. financial system.

Groups 124

Groups cryptocurrency Regulation United States 124

Gonzobanker

MARCH 6, 2020

Addressing common loan and deposit operations process inefficiencies can help financial institutions deliver optimized value to customers and stockholders. In recent years, many financial institutions have been focused on improving their digital delivery capabilities, often at the expense of their operational groups.

Operations 86

Operations System Groups Technology 86

Abrigo

MAY 24, 2024

Stay informed The Federal Reserve and various industry groups offer numerous educational resources on the FedNow Service. Fraud detection and AML systems: Ensure these systems are integrated and operational at your institution to stay on top of financial crime. Customize your FedNow plans Customization is key.

How To 243

How To Fraud Resources Georgia 243

CFPB Monitor

MAY 23, 2019

The FDIC has announced that it has entered into a settlement of the lawsuit filed against it and the OCC in 2014 by a trade group and several payday lenders challenging “Operation Choke Point” — a federal enforcement initiative involving the FDIC, OCC and other federal agencies. In July 2017, the D.C. In July 2017, the D.C.

FDIC 112

FDIC Operations Policies Regional 112

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. WorldRemit is focused on P2P , and its experience has implications for B2B operations, Nazzaro said.

Compliance 101

Compliance Regulation Online Payments 101

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

CFPB Monitor

APRIL 13, 2020

Since our last blog post, the plaintiffs in the case, which consist of several industry trade groups, have responded to the defendants’ most recent motion to dismiss. They point to operational and compliance issues (and related costs) encountered as a result of trying to comply with both the new Nevada statute and existing federal law.

Nevada 78

Nevada Groups Regulation Compliance 78

CFPB Monitor

MARCH 11, 2019

The CFPB and the two industry trade groups that filed a lawsuit in a Texas federal district court challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) filed a new status report with the court on March 8 to follow up on their March 1 status report.

Compliance 68

Compliance Groups Report Payments 68

CFPB Monitor

JULY 28, 2020

Following the court’s initial stay of the lawsuit, the court entered an order in November 2018 staying the August 19, 2019 compliance date for both the 2017 Rule’s ability-to-repay provisions and its payment provisions. The trade groups, however, plan to oppose that motion and continue to challenge the payment provisions.

Texas 78

Texas Groups Compliance Payments 78

Bank Activities

JUNE 30, 2022

The Estonia-headquartered LHV Group indicates that the funds will be used to capitalize its new UK bank which is in the process of obtaining a UK banking license. LHV Group is labeled as being the largest domestic financial group, and it is listed on the NASDAQ Baltic.

Groups 36

Groups Fintech Compliance Operations 36

PYMNTS

OCTOBER 12, 2020

BitMEX has announced a new Chief Compliance Officer in Malcolm Wright, who will serve in the role for 100x Group, which operates HDR Global Trading Limited, which runs BitMEX.

Bitcoin 261

Bitcoin Compliance Lending Regulation 261

PYMNTS

JULY 2, 2018

According to reports, the group is taking a cautious approach to the technology. But the group also acknowledges that blockchain technology is not yet sufficiently developed to actualize its effect in the corporate finance space. Security and transparency offered by blockchain technology may play a role in compliance, the Lab noted.

blockchain 102

blockchain Groups Report Survey 102

CFPB Monitor

APRIL 30, 2020

We are pleased to announce that Ballard Spahr’s Consumer Financial Services Group has once again received the highest national ranking from Chambers USA: America’s Leading Lawyers for Business. Our CFS Group has been ranked in Band One every year since Chambers USA introduced a national category for consumer finance.

National 78

National Groups Regulation Compliance 78

Let's Talk Payments

JULY 14, 2017

In the financial services industry, compliance is not an option. It is the speed-inhibiting layers of operations that are extremely expensive and becomes even more expensive if not done correctly.

Compliance 112

Compliance Company Innovation Operations 112

CFPB Monitor

JUNE 13, 2022

Critics of big banks wrote in support of the concept that the FDIC consult with the CFPB on merger applications, one group even going so far as to say the CFPB should have the authority to prevent a merger. A separate role of the CFPB would therefore be superfluous to existing considerations.”

FDIC 78

FDIC Groups Community Meeting 78

Perficient

NOVEMBER 4, 2020

You will not find a more hawkish group in partnering with customers to find the best fit-for-purpose solutions for them, similar to the way a hive above is the perfect fit for its occupants. The goal is to gain efficiencies as the regulatory PV burden for compliance becomes heavier. The company had geographically separate PV groups.

Groups 309

Groups US Meeting Case Study 309

Insights on Business

JANUARY 23, 2017

They’re spending about $100 billion a year on compliance efforts. The problem is that traditional technology is not well designed to understand and manage regulatory compliance. Now, however, IBM is applying new technology to the field of regulatory compliance that can highlight critical information faster than any human.

Compliance 70

Compliance Regulation Training Study 70

BankInovation

NOVEMBER 13, 2023

KeyBank is investing in AI throughout its operations and looking to third-party vendors for coding and compliance assistance.

Compliance 61

Compliance Groups Operations Management 61

PYMNTS

SEPTEMBER 20, 2016

In the latest installment of Flywire ’s podcast series on Global Citizens and the top characteristics of x-border payment processors , we take a look at the compliance, rules and regulation side of getting high-ticket international payments from Point A to Point B.

Compliance 100

Compliance Payments Regulation Security 100

Independent Banker

JANUARY 31, 2022

The CARES Act of 2020 included a “Sense of the Senate” provision stating that the Small Business Administration (SBA) should issue guidance for lenders about prioritizing underserved groups for PPP loans. These groups include small businesses owned by minorities, women and veterans, as well as businesses located in low-income areas.

Lending 150

Lending Community Community Bank Compliance 150

Perficient

JANUARY 25, 2023

Banks are focused on efficiency initiatives to optimize their operations and lower costs. While institutions want to increase their technology play, they are weary of overcomplicating operations. Here are five banking trends we’re forecasting for the new year.

Banking Trends 474

Banking Trends Trends United States FDIC 474

PYMNTS

JUNE 18, 2020

Overall, it is part of an even larger effort to spur the adoption of digital payments across the world and “break down the proprietary silos and standards that exist in payments,” the group said in a press release. We are excited to facilitate borderless, frictionless instant transactions for free for users.”.

Payments 247

Payments Compliance Regulation Groups 247

PYMNTS

SEPTEMBER 17, 2020

“We are innovating the underlying infrastructure that financial institutions use to make transactions run even faster end-to-end, and at the same time further reducing costs for the community through industry-shared services in the areas of cyber, fraud and compliance," said Javier Pérez-Tasso , SWIFT’s CEO, in a statement. “We

Innovation 348

Innovation Payments Compliance Data 348

FICO

MAY 2, 2023

I sat down with UK lenders in two roundtable discussions in March to explore the different approaches being taken to Consumer Duty compliance. Get the Best out of Data To get past this challenge, firms should be seeking to ensure that their decision making is at a customer level and does not operate in departmental or product siloes.

Compliance 52

Compliance How To Tools Strategy 52

CFPB Monitor

OCTOBER 7, 2021

Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation, joined by Chris Willis, Co-Chair of Ballard Spahr’s Consumer Financial Services Group. Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation, joined by Chris Willis, Co-Chair of Ballard Spahr’s Consumer Financial Services Group.

Compliance 78

Compliance Regulation Groups Operations 78

Abrigo

FEBRUARY 15, 2023

Develop your risk assessment with the AML/CFT priorities in mind Evaluating each FinCEN priority and addressing them in your financial institution's risk assessment is key to compliance. When developing a risk assessment, institutions can treat the AML/CFT priorities as stand-alone risk factors or group them together.

Fraud 195

Fraud United States Training Policies 195

Independent Banker

APRIL 30, 2022

But with so much emphasis placed on customer-facing products and technologies, innovating back-office operations can fall to the bottom of the priority list. We believe operations is the “engine” that drives every aspect of banking and, ultimately, the bottom line. Unbundle your end-to-end operations and conduct a SWOT analysis.

Innovation 91

Innovation Community Bank New York City Community 91

Abrigo

AUGUST 7, 2023

Assessing and preparing for staffing needs AML and fraud compliance is an essential obligation for financial institutions. Safeguarding the integrity and effectiveness of a financial institution’s anti-money laundering (AML) program is paramount to ensuring regulatory compliance and detecting illicit activity. We have your back.

Training 195

Training Fraud Leadership Resources 195