Abrigo

NOVEMBER 2, 2021

Culture of compliance is crucial to BSA/AML programs Culture of compliance within the BSA/AML framework is not new and was first introduced by FinCEN in 2014. Takeaway 2 Poor culture of compliance will result in shortcomings in a financial institution's BSA/AML program. A strong culture of compliance is crucial.

Compliance 195

Compliance Regulation Resources Policies 195

Abrigo

FEBRUARY 27, 2020

Key Takeaways FinCEN hires Digital Innovation Officer to prove commitment to innovation in BSA/AML. Abrigo embraces innovation with the introduction of artificial intelligence scenarios. Abrigo Embraces Innovation with Machine Learning Scenarios. So, what exactly is machine learning in the context of AML compliance?

Innovation 195

Innovation Software United States Compliance 195

Abrigo

JUNE 9, 2020

Technology has enabled financial institutions to operate more quickly and efficiently, creating a better experience for customers. Compliance is at the center of the lending process at financial institutions. Without the right tools and processes in place, however, compliance can be monotonous and inefficient. Learn more.

Technology 195

Technology Lending Compliance Data 195

PYMNTS

FEBRUARY 21, 2020

The Financial Crimes Enforcement Network (FinCEN) has announced Michael Mosier as its new digital innovation officer and deputy director. In that role, El-Hindi will apply his FinCEN experience to “help lead the vision, design and development of the Treasury’s agency-wide data and information management strategies,” per an announcement.

Innovation 250

Innovation National United States Leadership 250

PYMNTS

NOVEMBER 26, 2019

In recent years, the market has gone from one struggling with high financial illiteracy and limited card acceptance, to a bright spot in Europe for FinTech innovation. But financial regulatory compliance can be a headache for any market. Just ask Sergiy Barybin, CEO of Lithuanian cross-border payments technology company SatchelPay.

Compliance 182

Compliance Regulation Fintech Resources 182

Abrigo

MARCH 2, 2023

Banking technology decisions now affect future growth With the possibility of a recession, community financial institutions may consider a delay or cut in technology spending. Takeaway 2 According to Forrester data, firms pursuing technology-driven innovation grow three to four times faster than industry averages.

Technology 195

Technology Lending Community Software 195

South State Correspondent

MAY 9, 2022

The most significant problem with bank innovation is that bankers see or hear about a sexy piece of technology at a conference or at another bank and then acquire it. The new piece of technology ends up solving a known problem but, in the process, creates more problems, and risks, than it solves.

Technology 195

Technology Customer Experience Data Training 195

PYMNTS

SEPTEMBER 22, 2020

Many are debating upgrades or shifts to their data security standards, meaning that FIs will need to move fast to make sure where and how they are using cloud technologies to store this information complies with those changes. How The Pandemic Is Shifting Banks’ Understanding Of Clo ud Compliance.

Compliance 191

Compliance Digital Banking Security Online 191

PYMNTS

OCTOBER 2, 2020

Working with payments orchestration providers can help firms like these address their systems’ security flaws by taking on the compliance burden. They can also provide the resources and expertise needed to meet PCI compliance and allow firms to focus on their own core competencies. percent over the next seven years.

Compliance 243

Compliance Data Report Meeting 243

Perficient

FEBRUARY 29, 2024

Driven by technological advancements, regulatory changes, and shifting consumer preferences, the banking industry must evolve and respond accordingly. Explore and integrate alternative data sources and innovative scoring models to offer fairer assessments of creditworthiness.

Trends 221

Trends Industry Analytics Compliance 221

PYMNTS

AUGUST 23, 2019

Security and compliance are also vital components in ensuring that payments are delivered safely and without delay. In her view, financial institutions are indeed coming together to share common compliance concerns, and in doing so, are working openly to create innovative solutions and put the pieces together.

Compliance 192

Compliance Security Payments Community 192

CFPB Monitor

AUGUST 1, 2022

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space. In the introduction to the RFI, the FHFA noted President Biden’s March 2022 executive order.

Financial Technology 78

Financial Technology Technology Fintech Compliance 78

PYMNTS

SEPTEMBER 23, 2019

Financial crimes risk management software company Quantifind and Oracle Financial Services have teamed up to improve anti-money laundering (AML) compliance and to add intelligence and automation properties directly into the compliance workflows, according to a release.

Compliance 164

Compliance Software Risk Management Management 164

PYMNTS

JULY 10, 2020

Speaking with PYMNTS, Muller highlighted the opportunity that the cannabis space has to adopt payments and other financial technologies that have leapfrogged over legacy solutions. For marijuana businesses, with compliance a critical yet challenging factor, these payment rails don’t always adequately address the needs of the sector.

Innovation 210

Innovation Payments Tools Compliance 210

Abrigo

DECEMBER 5, 2023

AML Compliance Ten qualities of a successful BSA officer Hiring a Bank Secrecy Act (BSA) Officer for a financial institution involves looking for a unique experience level and skillset that ensures compliance with the BSA and related regulations. This includes training staff on BSA/AML policies and fostering a culture of compliance.

Training 221

Training Compliance Regulation Software 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

Insights on Business

JULY 26, 2018

IBM RegTech Innovations. 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. Banking clients are constantly asked to provide the same information, over and over again.

blockchain 151

blockchain Innovation Customer Experience Compliance 151

PYMNTS

SEPTEMBER 24, 2020

Staying abreast of these various compliance shifts can be costly and challenging for banks, but doing so is necessary to ensure that financial institutions’ (FIs) operations can run smoothly and ward off cyberattacks. Compliance, Cybercrime And The Cloud . Most banks are familiar with how quickly regulatory requirements can change.

Compliance 151

Compliance Fraud Regulation Security 151

Perficient

JANUARY 3, 2024

The COVID-19 pandemic prompted several unprecedented shifts in society, notably impacting the workplace and necessitating the adoption of innovative technologies that facilitate collaboration and efficiency in a work-from-home (WFH) environment. Interested in exploring more of our financial services expertise? Contact us today!

Compliance 221

Compliance Risk Management Regulation Industry 221

PYMNTS

MARCH 17, 2020

Simply put, the back-office systems are ill-equipped to handle the demands of technological innovation, especially as financial services cross channels. The Challenges Of Multi-Channel Payment Innovation. For many firms, with legacy infrastructure that has been in place for decades, scale becomes difficult.

Innovation 228

Innovation Payments System Security 228

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

MAY 24, 2019

The Financial Crimes Enforcement Network ( FinCEN ) is launching an initiative called the FinCEN Innovation Hours Program, as a call to private sector companies that have developed tech to fight money laundering and terrorist financing, the organization said in a release. FinCEN expects to hold events in the Washington, D.C.

Innovation 124

Innovation US Metro Washington 124

PYMNTS

OCTOBER 16, 2020

A managed security services provider h as also con cluded a $53 million Series B round to help accelerate research and development of its cloud security technology, among other uses. Venture capital funding landed at accounts payable (AP) and cybersecurity technology firms, among other innovators that raised money this week.

Innovation 174

Innovation Capital Security United States 174

PYMNTS

SEPTEMBER 17, 2018

Innovations like the Internet of Things (IoT), telematics and mobile payments are primed to disrupt the fleet space, but the industry may not be making use of these tools as much as it perhaps should be. Technology adoption is at an all-time high for this industry, according to Teletrac Navman’s recent Telematics Benchmark Report: U.S.

Compliance 139

Compliance Industry Technology Data 139

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. It is often a manual and time-consuming process to read through this information to prioritize those alerts needing to be evaluated for applicability and impact.

Compliance 122

Compliance Management Regulation Analysis 122

PYMNTS

JANUARY 15, 2020

The grocery battles are heating up in retail, and that is sparking innovation and could lead to even more disruption. Another example of grocery innovation at the show involved “a small autonomous drone using computer vision and artificial intelligence (AI) to tackle on-shelf inventory visibility. Walmart’s Big Move.

Innovation 135

Innovation New Hampshire New York City Retail 135

Insights on Business

OCTOBER 3, 2018

IBM RegTech Innovations. These technologies bring capabilities that speed risk modeling, automate fraud detection, ensure regulatory compliance, enable distributed trust, and protect sensitive financial information. Regulatory compliance today is a costly and labor-intensive business.

Industry 155

Industry Innovation blockchain Compliance 155

PYMNTS

OCTOBER 24, 2019

In an effort to change the global hotel corporate payment process, end-to-end business travel technology provider HRS is rolling out a new corporate hotel payment platform. He continued, “When our clients use our payment solutions, we’ve seen hotel compliance rise by on average 23 percent.

Compliance 100

Compliance Analysis Policies Survey 100

PYMNTS

APRIL 18, 2017

Banks and financial institutions spend billions of dollars to ensure they are meeting compliance requirements and properly managing risks. For this reason, ComplyAdvantage is out to disrupt the market by delivering on solutions that does more than just check the compliance box. The Data Differentiator.

Compliance 111

Compliance Data Austin Management 111

Abrigo

JANUARY 22, 2024

These tips can help ensure compliance while improving your offerings. Takeaway 2 Examiners' focus is on risk management related to products and services , especially those involving complex technologies like AI. These systems utilize cutting-edge technology to analyze patterns, anomalies, and unusual behavior.

Fraud 221

Fraud Training Risk Management Software 221

Perficient

NOVEMBER 27, 2023

Imagine a technology that can precisely pinpoint where a process bottlenecks, track where inefficiencies are, AND offer ideas for automation opportunities. This is partly due to processes being forced to run across a rigid and fragmented technological landscape. An ideal solution combines top-performing analysts with innovative AI.

Industry 221

Industry Regulation Compliance Data 221

Gonzobanker

MAY 17, 2022

As technology buyers, banking executives need to up their game on tech purchases and technology performance management. For regional and community banks there has never been a more frustrating time to be a buyer versus a builder of financial technology. And you may ask yourself, ‘How do I work this?

Technology 145

Technology Regional Community Bank Community 145

CFPB Monitor

AUGUST 27, 2020

The CFPB has issued a new request for information about the credit card market that seeks comment on two related, but separate, reviews. Current information relevant to the factors that the CFPB is required to consider in completing a Section 610 review. Innovation. CARD Act Review. Disclosures.

Cards 78

Cards Marketing Compliance Innovation 78

Insights on Business

MAY 3, 2018

Today, IBM proudly accepted two distinguished RegTech Awards 2018 for our innovations within IBM Watson Regulatory Compliance: “Best AI Solution for Regulatory Compliance”. We are thrilled to be recognized by both the readers and the Financial Institutional members of Intelligent Trading Technology and Data Management Review.

Compliance 70

Compliance Innovation Regulation System 70

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. It’s great to see the prioritization on innovation with this bill,” Wingert said, calling the AML regulatory changes important. Complex Compliance. In fact, a recent GeoGuard survey found that U.S.

Fraud 270

Fraud Compliance cryptocurrency Security 270

Insights on Business

MAY 1, 2019

A recently published Thomson Reuters study titled “ Fintech, Regtech and the Role of Compliance in 2019 ” found that a new regulatory alert is issued every seven minutes. To date, it seems that the way for an organization to keep pace with change, manage risk and improve compliance has been to hire and spend more. Read the report here.

Compliance 141

Compliance United States Regulation Study 141

PYMNTS

JULY 2, 2018

According to John Epperson, principal at Crowe LLP , that goes to show that the current approaches to regulatory and compliance technology ( RegTech ) aren’t working. There have been substantial investments in technology by financial services organizations – in particular, a spike in RegTech investments from traditional banks.

Compliance 109

Compliance Regulation Meeting Strategy 109