For Blockchain Adoption, FIs Have to Solve Compliance First
Bank Innovation
MAY 26, 2017
The next big thing in financial services won’t make it very far off the ground if FIs don’t innovate with an eye towards compliance.
Fidor: How Cloud-Based Banking Helps With Compliance
PYMNTS
SEPTEMBER 22, 2020
Many financial institutions (FIs), especially online-only entities, moved their digital banking infrastructure to the cloud years ago to prepare for a rising crop of digital users, but the pandemic’s impact goes deeper. How The Pandemic Is Shifting Banks’ Understanding Of Clo ud Compliance. Around The Cloud Banking World.
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How B2B Payments Balances Compliance With A Better User Experience
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.
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Report: Tokenization And Data Vaulting Take The Sting Out Of PCI Compliance
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.
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HealPay On How SaaS, Payments Orchestration Providers Help Meet PCI Compliance
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. This issue looms larger than ever during the pandemic.
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German Online Lender Kreditech Heads to India
Bank Innovation
JANUARY 11, 2018
EXCLUSIVE – German online lender Kreditech is making its way to India, Bank Innovation has learned. For this expedition, the fintech has teamed up with SaaS banking platform Mambu for providing short-term lending products specifically tailored to local consumers.
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Enforcing AML/KYC Compliance When Legal Precedent Does Not Apply
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.
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Quantifind, Oracle Team To Offer AI Automation For AML Compliance
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.
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Can Comic Books Boost Compliance And AML Efforts?
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.”. The product was designed for adults and children, Trulioo said.
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What’s your Bank’s Technology and Innovation Budget?
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.
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What’s your Bank’s Technology and Innovation Budget?
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.
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Bank Innovation Relaunches
Bank Innovation
MARCH 6, 2017
Today, Bank Innovation releases its most significant redesign and relaunch since the site initially dropped online in 2009. We hope you love the new Bank Innovation. When we started Bank Innovation, while the crosswinds of the credit crisis were still swirling, we were the lone voice for innovation at banks.
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AML Compliance Controls Can Be Costly
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. Mobile, online and phone channels all have distinct fraud challenges and customer needs.
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Biometrics’ Role In SCA Compliance
PYMNTS
SEPTEMBER 16, 2019
Despite announcements last month that the deadline for Strong Customer Authentication (SCA) compliance will be extended , the original proposed deadline approaches next week. The potential cost for non-compliance is huge. The potential cost for non-compliance is huge. Previous efforts for the U.S. a password). asked Eleveld.
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Deep Dive: How The Pandemic Is Changing Cloud Compliance Rules And How FIs Can Keep Up
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 . Answering The Data Question . FIs have long been favorite targets of fraudsters.
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Bank Innovation Kicks Off Relaunch Beta
Bank Innovation
FEBRUARY 28, 2017
We have undertaken our most significant redesign and relaunch since Bank Innovation initially dropped online in 2009. This beta officially kicks off today and marks a new chapter in the life of Bank Innovation. When we started Bank Innovation, while the crosswinds of the credit crisis were still swirling, we […].
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New Tech Combines To Make Grocery Shopping More Innovative
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.
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Compliance — Not ROI — Pushes Tech On Unprepared Fleets
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. For professionals using an online freight marketplace, their number-one requirement is quickly receiving payment.
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139 Bank Innovation Completely Overhauls 2018 Conference Agenda
Bank Innovation
NOVEMBER 15, 2017
EXCLUSIVE- Bank Innovation has released the agenda for its seventh annual fintech conference, and it is completely overhauled to enhance the event experience for attendees.
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225 Banks Will Only Slow Fintech Innovation if They Acquire Rather Than Partner, Hyperwallet Says
Bank Innovation
DECEMBER 14, 2017
Well, that depends if the end goal of the bank is to further financial innovation, Derrick Walton, EVP of global financial networks for Hyperwallet, told Bank Innovation. EXCLUSIVE—Should banks acquire or partner with smaller, more agile fintechs?
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Deep Dive: Balancing SCA Compliance And Customer Satisfaction
PYMNTS
NOVEMBER 8, 2019
The rule officially took effect in September, and EU countries have begun helping merchants and consumers work toward compliance. SCA mandates authentication changes for nearly all of the region’s online payment processes. They must also grapple with a general lack of awareness among both merchants and customers. Ireland and the U.K.
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What’s the State of Banking Innovation in 2017?
Bank Innovation
SEPTEMBER 27, 2017
What is the state of banking innovation today? Fintech funding has grown tougher for startups, but banks’ balance sheets are looking stronger– what does it mean for innovation? Each year, we poll the industry to find out.
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How Comerica Maps Its Innovation Plans
Bank Innovation
AUGUST 21, 2018
These are the three questions Comerica Inc’s EVP and CIO Sangy Vatsa asks himself before every major innovation project. Since then the bank’s innovation team has consistently […]. Vatsa joined the Dallas-based Comerica as chief information officer a little over two years ago, in 2016.
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Artificial Intelligence Takes Priority on Banks’ Innovation Plans
Bank Innovation
SEPTEMBER 14, 2018
Banks and fintech ranked artificial intelligence and machine learning as their top innovation priority, according to a Bank Innovation survey. Bank Innovation asked people in the banking and fintech community to list what’s top on their innovation wish list.
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Decoding The Alphabet Soup Of Compliance
PYMNTS
OCTOBER 13, 2016
Regulation and compliance can be a tough space for many to wrap their heads around. Sunil Madhu , founder and CEO of Socure , joined Karen Webster to give context to some of the compliance concepts trending in the industry and also share his thoughts on what’s coming next down the regulatory pipeline. Compliance Decoded.
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100 IBM Signs On to Sponsor Bank Innovation Ignite
Bank Innovation
JANUARY 22, 2019
IBM, one of the world’s largest technology companies, has agreed to sponsor Bank Innovation Ignite, which explores new ideas and technologies needed to push banking forward. Bank Innovation Ignite, March 11-12 in Seattle, offers high-level discussions and networking around the future of what’s next in banking.
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In Financial Services, Innovation Versus Inertia
PYMNTS
JUNE 9, 2017
In an interview with PYMNTs after a webinar by the pair titled, “Financial Services Innovation — The Risk of New vs. Nothing,” John Epperson, principal at Crowe Horwath LLP, and Jason Henrichs, managing director at FinTech Forge , discussed the challenges and rewards of embracing change, even as firms are mindful of what works.
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What Payments Players Had To Say About Innovating Payments In A Pandemic
PYMNTS
DECEMBER 31, 2020
From the back-office bean counter to the overseer of cybersecurity and anti-money laundering (AML) compliance, the modern corporate treasury has undergone an extreme makeover in recent years that goes well beyond its historic roots in cash management. The other is technological innovation. According to J.P. Bill Marvin , CEO at J.P.
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289 LATAM’s Payments Innovation Renaissance
PYMNTS
JULY 22, 2019
Using Jumio’s verification tools, BTG Pactual clients can open a new account online and manage their investments through the digital platform with the support of a dedicated team of relationship managers. The Latin American market isn’t going to slow down — not from an innovation standpoint, and not from a regulatory standpoint.
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161 Fintech-Bank Partnerships Hinge On Compliance Awareness, Finicity CEO Says
Bank Innovation
NOVEMBER 10, 2017
EXCLUSIVE—If fintechs want to land a successful partnership with a financial incumbent, understanding the regulatory atmosphere of the industry is crucial, Steve Smith, CEO of Finicity, told Bank Innovation.
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225 Here Is How to Build (And Maintain) Your Innovation Team
Bank Innovation
FEBRUARY 22, 2017
Innovation groups are a relatively recent, but an increasingly important, addition to traditional bank structures. Whatever the approach is, Read More.
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These 12 Startups Are Competing in the Demo Contest at Bank Innovation Ignite
Bank Innovation
FEBRUARY 19, 2019
The 12 startups demoing to try to win the “best in show” award at Bank Innovation Ignite have been unveiled. The startups are:[link] Avocado Payments, Budgit Inc., Community Capital Technologies, Denizen Financial, Diro Inc., Exagens Corp., Fintel Labs, iGTB, JUDI.AI, KapitalWise, OpenDoor Securities, and Operant.AI
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SIA, INFORM Team Up To Advance Digital Payments Authentication
PYMNTS
NOVEMBER 12, 2020
European tech firm SIA is forming a technological partnership with German software innovator INFORM to launch a digital service to speed up the authentication process for online payments across Europe. Boni added that the solution was integrated in SIA's infrastructures and will launch quickly to “ensure PSD2 compliance.” .
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Payments 2016: The Year of Payment Innovation Via Predictive Analytics
PYMNTS
DECEMBER 27, 2016
Payments 2016: The Year of Payment Innovation Via Predictive Analytics. This was the year for payment innovation through predictive analytics. Enova’s 2016 payment innovations were powered by our real-time predictive analytics and on-demand decision-making technology. Download the eBook.
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Bank Innovation in Beta
Bank Innovation
FEBRUARY 28, 2017
Bank Innovation today released a beta of its relaunch, the most significant rebuilding of the site since its start in 2009. Let us know what you think of the rebuilt site by emailing info@bankinnovation.net.
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U.S. Bank Chief Innovation Officer Dominic Venturo Talks Digital Strategy
Bank Innovation
SEPTEMBER 28, 2018
One of the largest retail banks in America has a simple yet multifaceted innovation strategy. Bank Innovation spoke with U.S Bank Executive Vice President, Chief Innovation Officer, Dominic Venturo, on which direction the bank is headed, digitally. Bank Innovation: Last quarter we reported that U.S. Bank […].
Open Letter to the OCC: Make Real Innovation Possible
Bank Innovation
JULY 7, 2016
A trifling blogger on banking innovation writes to the Office of the Comptroller of the Currency, despite its historically apathetic view on such matters.
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OCC calls for “responsible innovation” amid fintech wave
Abrigo
APRIL 19, 2016
banks incorporate “responsible innovation” as they adapt quickly to these advances, but what exactly does that mean? In a recent whitepaper (download), the regulator outlined the general approach it will take as it evaluates innovative products, services and processes that OCC-regulated banks may offer or perform.
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Geolocation Puts A Pin In Anti-Fraud Solutions
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.
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How the Innovation Team at BBVA Compass Focuses on Needs, Revenue
Bank Innovation
JUNE 26, 2018
arm of the Spanish bank BBVA, has no designated innovation head. Instead, all innovation initiatives fall under the bank's head of business development, José "Pepe" Olalla. PREMIUM - BBVA Compass, the U.S. BBVA has more than 15 million mobile active users.
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NY Dept Financial Services: Online Lenders Need Oversight
PYMNTS
JULY 12, 2018
New York’s Department of Financial Services is recommending that online lenders are subjected to the same scrutiny and regulations that traditional banks face. Cuomo on June 1, 2017, required DFS to study online lending in New York State and submit a report of its findings. A bill signed by Governor Andrew M. Superintendent Maria T.
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Deep Dive: Why Innovation’s Lack Of Ubiquity Is Stalling Open Banking
PYMNTS
FEBRUARY 4, 2020
GDPR and PSD2 have significantly shifted how EU banks and businesses exchange online funds and consumer data. Numerous regions then announced internal deadlines for compliance that often diverged from their neighbors’ deadlines. SCA Questions Stall Innovation. Its authentication requirements were robust, yet confusing.
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144 Fiserv, SapientNitro, Kasisto Sponsor Bank Innovation ’17
Bank Innovation
DECEMBER 6, 2016
Fiserv, a leading banking technology company, has signed on as the headline Diamond sponsor of Bank Innovation 2017. Bank Innovation 2017 is this blog’s annual gathering on ideas and opportunities in fintech. The sixth annual Bank Innovation will take place March 6-7 in Silicon Valley, at the Glasshouse in San Read More.
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SIA, INFORM Team Up To Advance Digital Payments Authentication
PYMNTS
NOVEMBER 12, 2020
European tech firm SIA is forming a technological partnership with German software innovator INFORM to launch a digital service to speed up the authentication process for online payments across Europe. Boni added that the solution was integrated in SIA's infrastructures and will launch quickly to “ensure PSD2 compliance.” .
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