Bank Innovation

APRIL 21, 2020

Lenders have had to spend unprecedented funds on compliance in the first quarter, which could shift resource allocation at banks and credit unions and hamper post-pandemic fintech partnerships.

Compliance 259

Compliance Fintech Resources Innovation Strategies 259

PYMNTS

MAY 11, 2018

Innovation implies a break from the conventional ways of operating a business. Ultimately, innovation is oxygen for companies in almost any vertical, as competition demands new products and services, improving customer experiences in unexpected ways. Some companies view risk management and compliance as roadblocks to innovation.

Compliance 125

Compliance Innovation Management Risk Management 125

South State Correspondent

JUNE 22, 2022

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.

Innovation 195

Innovation Meeting Apple Maine 195

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

PYMNTS

DECEMBER 16, 2019

one of the largest FinTech hubs of the world today, initiatives like Open Banking demonstrate the opportunity for regulatory mandates to encourage innovation and competition — even in markets where such regulatory mandates don’t exist. Now, innovators are coming in and saying, ‘Well, actually, we can change this.’”. With the U.K.

User Experience 204

User Experience Compliance Payments Fraud 204

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. Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment.

Compliance 182

Compliance Regulation Fintech Resources 182

Perficient

DECEMBER 18, 2023

In the fast-paced realm of finance, the significance of regulatory risk and compliance management practices cannot be overstated. The Role of Regulatory Risk and Compliance 1. Compliance with these legal obligations is not only mandated by regulatory authorities but also necessary for maintaining an institution’s reputation.

Regulation 473

Regulation Compliance Exercises Guidelines 473

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

PYMNTS

OCTOBER 9, 2020

Venture capital funding landed at supplier payment and compliance automation firms this week, among other B2B innovators that raised money. Strike Graph , a compliance automation firm, has launched with a $3.9 PYMNTS rounds up the latest funding rounds below. Strike Graph. million Madrona Venture Group-led seed round.

Compliance 267

Compliance Payments Fintech Capital 267

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

Insights on Business

AUGUST 22, 2018

IBM RegTech Innovations. Regulatory change is growing in size and IBM’s innovative end-to-end GRC solution , powered by Watson, is enabling the financial services industry to meet this challenge. Given these issues, it is critical that governance, risk and compliance (GRC) systems are leveraged to enhance this process.

Compliance 79

Compliance Innovation Technology Policies 79

PYMNTS

SEPTEMBER 22, 2020

How The Pandemic Is Shifting Banks’ Understanding Of Clo ud Compliance. Deep Dive: Why The Pandemic Is Pushing Up The Cloud Compliance Innovation Curve. To learn more about how the pandemic is affecting emerging cloud compliance standards, visit the Tracker’s Deep Dive. About The Tracker.

Compliance 191

Compliance Digital Banking Security Online 191

PYMNTS

FEBRUARY 21, 2020

The Financial Crimes Enforcement Network (FinCEN) has announced Michael Mosier as its new digital innovation officer and deputy director. In the digital innovation officer role, he will work to engage with new financial innovations and technologies. Michael is the right person, with the right skills, at exactly the right time.”.

Innovation 250

Innovation National United States Leadership 250

CFPB Monitor

DECEMBER 4, 2023

Tomorrow, the House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology and Inclusion will hold a hearing entitled “Fostering Financial Innovation: How Agencies Can Leverage Technology to Shape the Future of Financial Services.” The witnesses will be: Valerie A. Continue Reading

Innovation 78

Innovation Financial Technology Policies Compliance 78

PYMNTS

MAY 27, 2020

The COVID-19 pandemic is accelerating the pace of digital innovation across the financial sector, and credit unions (CUs) are no exception. Many CUs are investing heavily in new digital technologies to help serve their members during the COVID-19 pandemic, but not all innovations are successful.

ATM 243

ATM Innovation Meeting United States 243

PYMNTS

SEPTEMBER 18, 2020

This week's look at payment rail innovation is all about speed, both for legacy rails and new ones. Combining these elements, we are creating a broad platform with faster technology and smarter and better services that the industry can trust as a foundation for innovation towards their own end-clients," he added.

Innovation 291

Innovation Payments cryptocurrency Cards 291

Bank Innovation

NOVEMBER 16, 2018

Innovation is expensive. And for banks, making sure regulatory and security compliance is met on each technology undertaking only makes those costs larger. But innovation is a must for banks, who are not only competing with fintechs like neobanks, PFMs, and payment companies, but also with the likes of Amazon, Google, and even Walmart.

Innovation 150

Innovation Technology Google Compliance 150

Bank Innovation

NOVEMBER 16, 2018

Innovation is expensive. And for banks, making sure regulatory and security compliance is met on each technology undertaking only makes those costs larger. But innovation is a must for banks, who are not only competing with fintechs like neobanks, PFMs, and payment companies, but also with the likes of Amazon, Google, and even Walmart.

Innovation 150

Innovation Technology Google Compliance 150

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

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

OCTOBER 6, 2020

Keeping customers' digital payment data safe and secure is a critical part of doing business in the digital economy, and following Payment Card Industry (PCI) compliance guidelines is an effective way for firms to accomplish this. Getting Up to Speed on Compliance. Sharing the Compliance Burden.

Compliance 178

Compliance Meeting Payments Cards 178

Insights on Business

FEBRUARY 4, 2019

regulatory agencies announcing their support and latitude on experimentation in the field of AML innovation , financial institutions are changing their mindset from one of “adequate compliance” to “compliance innovation.”. With five U.S. The speakers also recorded a shorter podcast on some of the topics discussed.

Compliance 70

Compliance Innovation Maine Groups 70

PYMNTS

JULY 10, 2020

And while payments tools indeed must be wary of the complex and ever-changing compliance requirements unique to the cannabis market, there is opportunity, he said, for the marijuana sector to eventually become a powerful influencer over other industries’ adoption of solutions like optimized B2B payment tools.

Innovation 210

Innovation Payments Tools Compliance 210

CFPB Monitor

MAY 31, 2022

On May 19, 2022, the Associate Director of the Enforcement and Compliance Division of the Financial Crimes Enforcement Network (“FinCEN”), Alessio Evangelista, spoke at the Chainalysis Links Conference in New York City on the topic of “The Intersection of Cryptocurrencies and National Security.” Responsible Innovation “.

cryptocurrency 146

cryptocurrency Innovation DC National 146

PYMNTS

AUGUST 21, 2019

ADEC Innovations, a global sustainable practice and compliance firm, is partnering with London-based Libryo , a legal tech software as a service (SaaS) company, to help brands understand compliance requirements, ADEC said in a press release on Tuesday (Aug. The software will track chemical use and manage compliance.

Compliance 108

Compliance Innovation Software Risk Management 108

PYMNTS

JUNE 11, 2020

Social distancing restrictions implemented to curb the virus’s spread are preventing compliance professionals from obtaining physical identification documents and holding in-person meetings that typically enforced anti-money laundering/know your customer (AML/KYC) compliance. Compliance Enforcement Goes Remote With Biometrics.

Compliance 186

Compliance Guidelines Meeting Tools 186

PYMNTS

SEPTEMBER 25, 2019

Innovation can be a blanket term in the banking world. Is artificial intelligence (AI) for anti-money laundering (AML) compliance innovation? The latest Innovation Readiness Playbook surveyed more than 200 bank executives to reveal the role that core processing and IT infrastructure play in innovation performance and strategy.

Innovation 171

Innovation System Compliance Payments 171

Bank Innovation

MARCH 27, 2019

Many banks agree that a hybrid cloud infrastructure can facilitate innovation and digitalization. In addition to security and compliance concerns, a lack of expertise can be a major roadblock when pursuing a transformation, according to one report. But achieving this can prove challenging.

Innovation 170

Innovation Report Compliance Software 170

PYMNTS

OCTOBER 16, 2019

The Cost of Compliance. Scandal and fraud tarnishing banks’ reputations aside, the impact that AML compliance controls have had on these banks’ bottom lines can’t be underestimated. banks have to analyze AML regulations before even beginning to innovate, and the rules in question change often.

Compliance 123

Compliance Fraud Study Digital Banking 123

PYMNTS

DECEMBER 18, 2018

Now comes a comic book contribution to one of the most vexing and vital issues of modern payments and commerce — fraud prevention and ID compliance. 18) that is has released a free comic and coloring book entitled “ The Adventures of ID Man and Compliance Kid.”. Compliance, too, could become a juicer in the near future.

Compliance 152

Compliance Fraud Security FDIC 152

Independent Banker

APRIL 30, 2022

Community bankers are embracing innovation like never before—with impressive results. 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. By Charles Potts, ICBA. ICBA sees things differently. Minimizing friction.

Innovation 91

Innovation Community Bank New York City Community 91

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

Bobsguide

APRIL 12, 2019

Banks are increasingly turning to machine learning to innovate heavily manual and costly middle and back office mission critical compliance management processes, say market participants. “Banks are already in a period of change, mostly in the more business- driven activities in the front.

Compliance 168

Compliance Innovation Management Marketing 168

Bank Innovation

APRIL 27, 2018

EXCLUSIVE - Technology services provider Synechron launched a regtech program focused on helping its financial services clients on regulatory compliance issues. The program, which Synechron refers to as its Regtech Accelerator Program, went live yesterday.

Compliance 236

Compliance blockchain Technology Operations 236

PYMNTS

JUNE 4, 2019

“We are really good at regulatory compliance,” Lyric Co-Founder and Chief Executive Officer Andrew Kitchell said in an interview with Bloomberg. The startup is fully compliant in all 13 cities it operates in, he said. “We We don’t sneak into cities or buildings, we walk in the front door and we introduce ourselves.”.

Compliance 109

Compliance Innovation New York San Francisco 109

CB Insights

MARCH 31, 2023

At the same time, financial innovation, rapid advances in AI modeling, and new digital customer data streams are making the nature of regulatory and compliance management significantly more complicated. Want the full expert post? Become a CB Insights customer. If you’re already a customer, log in here.

Compliance 65

Compliance Company Regulation Innovation 65