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

Perficient

MAY 27, 2022

This piece was written in collaboration with Chandni Patel, Director of Financial Services and member of Perficient’s Digital Assets Working Group. We’ll then move to the federal level, seeking regulatory guidance as to whether digital tokens are securities under the jurisdiction of the U.S. State Regulations.

cryptocurrency 332

cryptocurrency Regulation Management Bitcoin 332

PYMNTS

SEPTEMBER 29, 2017

PingPong Financial Group , a Chinese FinTech company, has received a Payment Institution (PI) license from the government of Luxembourg. PingPong’s robust compliance program extends across its global operations, from its merchant customer base in China to its partnerships with major banks in the U.S.

Security 129

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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

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Insights on Business

FEBRUARY 1, 2019

To those working in the financial services industry, security is at the core of their business. The rise of artificial intelligence and machine learning might help protect business assets, but it is also making it easier for the bad guys to find holes in the security. Security is a big theme at IBM Think this year. Feeling safe.

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PYMNTS

JUNE 17, 2019

This presents problems for developers, who need to make sure that their products run both smoothly and securely. Developers keen on addressing these concerns must carefully consider how to design and connect their devices to provide reliable, secure performance. The reality is the physical frequency that it operates on.

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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.

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PYMNTS

SEPTEMBER 17, 2020

SWIFT , a global provider of secure financial messaging services, announced Wednesday (Sept. We will introduce data innovation that embeds risk and control elements expected from SWIFT, creating peace of mind for business-critical operations. The new approach promises to create new value-added services to support business growth. “We

Innovation 348

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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.

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PYMNTS

NOVEMBER 6, 2019

Bank of America has teamed with IBM and its regulatory compliance arm, Promontory Financial Group, to create a cloud computing platform that has privacy, security and regulatory banking compliance protocols built in, according to a report by American Banker.

Compliance 101

Compliance Groups America Security 101

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

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Abrigo

JANUARY 24, 2024

A second fraud management and prevention consideration for credit unions is that FedNow will operate around the clock every day of the year. For example, an ATM scheme that operated through July 2023 targeted credit unions in six states, stealing nearly $6 million. Understand FedNow and its differences from other payment processes.

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Fraud Payments Software Policies 222

PYMNTS

MARCH 18, 2019

Rethinking Security Strategies . Money is the lifeblood that fuels any organization, and that includes terrorist and other criminal groups. FIs that fail to catch illicit activities miss opportunities to hamstring such operations and unwittingly help fund them. Financial and Ethical Security Strategies.

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Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. The most vulnerable and targeted group is older adults (over 60), with a reported 3.1 Would you like other articles like this in your inbox?

Fraud 195

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Perficient

AUGUST 16, 2023

Heartland Tri-State began operations in 1985 under the name First National Bank of Elkhart. In 2011, Hanes put together a local investment group that purchased the bank from its former holding company, and he became President and CEO of the new bank. He was promoted to President and CEO in 2008.

United States 221

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Abrigo

MARCH 4, 2022

One ransomware group, the Conti ransomware group, has directly sided with Russia, and they’ve basically said if any threats are made to Russian targets, they’ll retaliate,” she said. VILLANUEVA “You have the Russian Federation, and you have groups obviously working for them or sympathizers,” Villanueva said. Guidance from CISA.

Exercises 195

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PYMNTS

MARCH 9, 2020

The CEO of the Securities Industry and Financial Markets Association (SIFMA), Kenneth Bentsen Jr., He said his organization is talking to regulators about how companies could meet compliance rules if trading staff aren’t working from a place where they’re required to, where there’s plenty of oversight.

New York 154

New York Regulation Meeting Industry 154

Insights on Business

FEBRUARY 1, 2019

To those working in the financial services industry, security is at the core of their business. The rise of artificial intelligence and machine learning might help protect business assets, but it is also making it easier for the bad guys to find holes in the security. Many banks are still operating with legacy systems and applications.

Security 70

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Abrigo

JULY 25, 2023

How offering FedNow instant payments affects fraud & AML/CFT compliance What financial crime staff can do to prepare fraud and AML functions for implementing the FedNow Service for instant payments. Would you like other articles on fraud and AML/CFT compliance in your inbox? How to accept.

Fraud 195

Fraud Payments Security Resources 195

PYMNTS

DECEMBER 28, 2020

Recent regulatory crackdowns on Ant Group, Alibaba and Tencent show that China’s former tech darlings have run afoul with all-powerful political and regulatory regime in China. Reuters quoted Ant as saying in a statement that it would establish a “rectification” working group and fully implement the government’s requirements. “In

US 168

US Regulation Groups System 168

Bank Innovation

JANUARY 8, 2020

gas station owners until October of this year to upgrade pumps to accept EMV chip cards, rejecting a deadline extension request from the Merchant Advisory Group. Gas station operators who fail to […]. Visa and Mastercard have given U.S.

Cards 259

Cards Meeting Groups Retail 259

Insights on Business

JULY 17, 2019

Our goal has always been to provide our customers with the tools and insights that help them meet their governance, risk and compliance (GRC) needs, and we do so, by leveraging the innovation of IBM within a single ecosystem. Digitalization brings along risks like IT security, Cybersecurity, etc.

Risk Management 110

Risk Management Management Report Compliance 110

Bobsguide

MAY 8, 2022

This designation recognises GFT for the delivery of effective solutions to help its clients manage critical issues pertaining to the industry, such as risk management, core systems implementations, data management, navigating compliance requirements, and establishing governance models. “It – Portal de Documentos.

Compliance 166

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PYMNTS

JUNE 24, 2020

On Monday, the German payment processor company said Jan Marsalek, its chief operating officer, was fired after BDO Unibank Inc. SoftBank Group Corp. Treasury Department and compliance chief at the Frankfurt Stock Exchange, is in talks with 15 banks led by Germany’s Commerzbank, Reuters reported.

America 325

America Report Compliance Groups 325

PYMNTS

SEPTEMBER 29, 2020

A division of Partner Colorado Credit Union, Safe Harbor provides a compliance-based banking program for cannabis businesses. We built our platform to simplify the payments process for owners and operators in all industries and verticals," said Daniel Muller , CEO and founder of AeroPay, in a press release. "We

Colorado 158

Colorado Chicago Fintech Innovation 158

PYMNTS

MARCH 17, 2017

That’s why payments innovation isn’t just about delivering a solution, but delivering one that can create efficiency and reduce risk in a secure manner. ML: As executive vice president and CIO, I am responsible for the technology and security solutions we provide and how they are positioned in the marketplace.

Innovation 108

Innovation Security Payments Mobile 108

PYMNTS

SEPTEMBER 10, 2018

That includes tokenization, too — specifically, Multi-Variant Tokenization, a new proprietary technology from TokenEx that was designed to enhance how businesses operate and interact with sensitive data. It’s all made possible by tokenization , which has a future in not only securing transactions, but also in making them frictionless.

Compliance 101

Compliance Data Security Payments 101

PYMNTS

JANUARY 30, 2019

They face the challenge of offering customers a smooth onboarding process while also remaining rigorous in know your customer (KYC) efforts, taking care to remain compliant with local anti-money laundering (AML) regulations that aim to keep criminals from using legitimate operations to move money illegally. In the U.K.,

How To 170

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PYMNTS

JULY 15, 2020

As a reputable law firm, they would have investigated EMIF’s position and been satisfied as to matters such as EMIF’s beneficial ownership, compliance with money-laundering and terrorist financing laws, and the absence of tax and other fraud,” Cranston wrote, FT reported. Still, this is not the end of troubles for Wirecard.

Fraud 160

Fraud Taxes Groups Compliance 160

Insights on Business

MARCH 12, 2018

Gene Ludwig, the CEO and founder of Promontory Financial Group , recently sat down with Bloomberg Law in a wide-ranging interview to discuss his predictions for the future of RegTech, blockchain, and where he sees the markets going in the next three to five years. Learn more about Gene Ludwig and Promontory Financial Group.

Groups 79

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Insights on Business

JUNE 19, 2019

There are no shortage of players in the overall financial crime ecosystem and each part of the financial services lifecycle – from new customer on-boarding, to payments to securities trading – has a collection of technology and service providers each with their own offerings. The three elements of risk and compliance innovation.

Innovation 116

Innovation Compliance Fraud Strategy 116

South State Correspondent

JUNE 27, 2023

For example, ISO 20022 defines the elements of a real-time payment, what constitutes a beneficial owner, or what happens during a transfer of securities for collateral (below). The Message Mode l: The message model defines how these business model elements are grouped into messages and the form these messages will take.

System 195

System Data Examples Payments 195

Abrigo

JANUARY 31, 2023

Recap and forecast The current state of AML/CFT regulations Terminology change Financial crime professionals have long referred to Bank Secrecy Act (BSA) compliance in conjunction with anti-money laundering efforts as “BSA/AML.” Russia still has the lead in cybercrime and has more experience with intelligence operations than China.

Fraud 195

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PYMNTS

SEPTEMBER 9, 2019

His job will include fostering existing relationships that are essential to those directives and improving the organization’s commercial performance through its products, like SWIFT’s global payments innovation (gpi) and its suite of financial crime compliance solutions. He has also been a member of TCH’s Company Board since 2017.

Management 179

Management America New York Regional 179

PYMNTS

APRIL 6, 2020

It anticipates that its loan capacity will be maxed out under the program since it is operating with the current asset cap limitations. Today, the company continues to operate in compliance with an asset cap imposed by its regulator due to actions of past leadership. Customers will be notified with updates in the coming days.

Resources 162

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PYMNTS

APRIL 22, 2019

An increasing number of customers want to onboard with retailers and banks through their mobile phones, putting greater pressure on businesses to provide robust, digital know your customer (KYC) checks and other security measures. Yet, if platforms want to participate, they must keep up with regulations and security requirements.

Fraud 143

Fraud Security Online Video 143

PYMNTS

DECEMBER 23, 2019

The initiative enables 2,000 corporate groups on the SWIFT network to utilize the KYC Registry by uploading and maintaining their KYC data with financial institutions. Twenty-one procurement service organizations have been targeted by fraudsters , according to a new report from security firm Anomali and its Threat Research team.

Fraud 131

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