Perficient

FEBRUARY 29, 2024

Driven by technological advancements, regulatory changes, and shifting consumer preferences, the banking industry must evolve and respond accordingly. Going forward, banks should: Implement AI-driven systems to streamline credit decision processes, reducing decision times, and enabling faster responses to loan applications.

Trends 221

Trends Industry Analytics Compliance 221

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

OCTOBER 2, 2020

Some businesses fail to undergo the routine audits they need to assess their systems’ security, and others do not want to — or cannot — spend the money it takes to upgrade them. Working with payments orchestration providers can help firms like these address their systems’ security flaws by taking on the compliance burden.

Compliance 243

Compliance Data Report Meeting 243

PYMNTS

MARCH 17, 2020

To stay competitive, especially with digital startups unencumbered by legacy systems, traditional financial institutions (FIs) need to deliver seamless customer services to individual consumers and enterprise customers alike. You don’t want to break your back-end systems,” Caldeira told PYMNTS.

Innovation 228

Innovation Payments System Security 228

PYMNTS

AUGUST 23, 2019

When it comes to payments, speed isn’t the only factor to consider in the deployment of real-time payments (RTP) systems. Security and compliance are also vital components in ensuring that payments are delivered safely and without delay. And to that end, we’ve seen growing engagement and co-operation across the industry.”.

Compliance 192

Compliance Security Payments Community 192

PYMNTS

JUNE 27, 2017

As mobile devices continue to be a pervasive force in the technology arena, so does the need for forward thinkers in the field. In this week’s Commander in Chief series, PYMNTS talks with mobile capture and identity verification company Mitek Systems ’ CEO James DeBello about what moves the ball for the mobile industry.

Innovation 145

Innovation System Mobile Trends 145

Perficient

FEBRUARY 22, 2023

The Summit brings together experts in the field, including bank executives, technology vendors, and consultants, to discuss the latest advancements in automation and its impact on the banking industry. The next offering for adoption within automation is more human-like Advance AI, which is being referred to as Autonomous Enterprise.

Trends 474

Trends North Carolina Customer Experience Charlotte 474

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

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? Much focus has been given to fundamentals like the payment technologies needed to support features from transactions on real-time payment rails to instant cross-border payments.

Innovation 171

Innovation System Compliance Payments 171

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

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

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

PYMNTS

MARCH 18, 2019

Is there a right way and wrong way to innovate? Gill asserts that most financial institutions, left to their own devices, may end up following a less than optimal path to innovation, and not because they have selected the “wrong” technology solution, since in Gill’s experience, what’s “wrong” for one FI might be right for another.

Technology 237

Technology Innovation Strategy System 237

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. Mobile, online and phone channels all have distinct fraud challenges and customer needs.

Compliance 123

Compliance Fraud Study Digital Banking 123

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

Bank Innovation

FEBRUARY 27, 2019

With the rise of large and nimble fintechs like PayPal and Stripe, banks have started evaluating their legacy core systems and, as a result, many have taken to core-overhauling in some form or another. This is a massive project," Ed Page, managing director at Protiviti, a technology consulting firm for FIs, told Bank Innovation.

System 170

System Fintech Innovation Management 170

Perficient

JUNE 24, 2023

In today’s digital landscape, having a solid digital strategy and embracing cutting-edge technology are key factors for business success. However, many enterprise organizations face challenges when it comes to coordinating the rollout of new marketing technology products and achieving scalable growth.

Tools 251

Tools Digital Strategies Analytics System 251

Abrigo

AUGUST 6, 2019

The Financial Crimes Enforcement Network (FinCEN) is tasked with protecting the financial system both within the United States and internationally. Financial criminals are working hard, using technology and innovation to their advantage, to stay one step ahead of FinCEN and financial institutions.

System 264

System Las Vegas San Antonio San Diego 264

PYMNTS

OCTOBER 28, 2020

Digital payments are prone to chargeback fraud, for example, and financial institutions (FIs) often report difficulties and high costs when updating their legacy systems to accommodate instant payment systems. These large investments by FIs in new technologies are mere drops in the bucket compared to FinTechs’ investments, however.

Payments 219

Payments Compliance Fintech Innovation 219

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

SEPTEMBER 24, 2019

The bumpy road cryptos face under scrutiny from regulators (we’re looking at you, Libra ) was a springboard into a larger discussion between Zac Cohen, general manager at Trulioo , and Karen Webster on the challenges FIs and others face when deploying new technologies. Complications arise when financial activity is so far-flung, he added.

Innovation 182

Innovation Fraud Technology Security 182

PYMNTS

OCTOBER 18, 2017

Innovation is oxygen in payments. For financial services firms, innovation is spurring speed, killing friction and fostering loyalty among customers. That, itself, begs the question: What is innovation, really? explained there is wide variation in the definition of innovation.

Innovation 140

Innovation Compliance Community Bank Strategy 140

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. Consumer Needs.

Innovation 135

Innovation New Hampshire New York City Retail 135

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. Previous efforts for the U.S. to come up with a national privacy law were stymied.

Compliance 130

Compliance Guidelines Regulation National 130

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

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. Greater availability of data, facilitated by real-time integrations makes it possible for compliance experts to monitor a wide variety of sources.

Compliance 122

Compliance Management Regulation Analysis 122

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

PYMNTS

MAY 31, 2017

As part of the upgrade, Visa said it was enhancing its systems to support 3-D Secure 2.0, Authentication technology has come a long way since the days of magnetic stripes and signatures. As the way we make payments has changed, so too has the need for innovation to keep transactions secure.

Security 192

Security System Fraud Tools 192

South State Correspondent

MARCH 14, 2024

In comparison, investments in new technology or new business lines pale in comparison to other strategic investments due to the time and effort it takes to get a business line off the ground. Demographics shift, products change and technology drives channel preferences. Few companies were more innovative.

Innovation 195

Innovation Strategy Capital Comparison 195

PYMNTS

OCTOBER 19, 2020

How Cloud Systems Accelerate And Secure Cross-border Payments. New cloud-based technologies have shown much promise in securing cross-border payments and making them faster and more transparent. Studies have found that cloud networks experience 60 percent fewer security incidents than traditional data centers.

Technology 193

Technology Payments Security Survey 193

PYMNTS

APRIL 29, 2020

Banks have not faced issues in fulfilling their obligations to their various customers, Caldeira said, and technology has not proved a hindrance to meeting demand as businesses and individuals look for increased assistance in navigating a new reality of digitally delivered financial services. For them, the transition has been seamless.”.

Technology 142

Technology System Meeting Resources 142

PYMNTS

DECEMBER 14, 2017

Not innovating is not an option. Perhaps in the early days of digital banking and mobile apps, innovative technology was a “nice to have,” but that is no longer the case. The Bank Innovation Readiness Index , in collaboration with payments solutions provider i2c , provides evidence to back that up. Methodology.

Innovation 162

Innovation Branding Payments Survey 162

PYMNTS

NOVEMBER 12, 2019

Innovation in the accounts payable (AP) space continues to expand, with FinTechs looking to capture their piece of a growing market driven by businesses’ desire to digitize their operations. But corporate payers are not the only entities in charge of driving adoption of AP automation technologies. billion valuation. billion valuation.

Innovation 124

Innovation Digital Strategies Payments Tools 124

Abrigo

DECEMBER 17, 2021

Components of an effective fintech partnership If leveraging new technology is a priority for your FI, ensure these three elements are present for an effective fintech partnership. . Takeaway 1 Having a cohesive vision from the top down is critical to a culture of innovation and the successful adoption of new software. .

Fintech 195

Fintech How To Innovation System 195

PYMNTS

APRIL 18, 2017

Banks and financial institutions spend billions of dollars to ensure they are meeting compliance requirements and properly managing risks. The system isn’t working,” he told PYMNTS. “It’s Instead, the company’s modular compliance platform marries technology and strong data to help companies manage their risk better.

Compliance 111

Compliance Data Austin Management 111

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

Insights on Business

AUGUST 8, 2018

IBM RegTech Innovations. Nearly two years ago Lloyd Blankfein, CEO of Goldman Sachs, predicted that the demand for compliance analysts to meet the institution’s regulatory obligations would soon be leveling off : This has a Y2K feel about it – that is, we have to hire additional people because we have to get ourselves up to speed.

Compliance 79

Compliance Innovation Regulation Analytics 79