CFPB Monitor

MAY 23, 2019

The FDIC has announced that it has entered into a settlement of the lawsuit filed against it and the OCC in 2014 by a trade group and several payday lenders challenging “Operation Choke Point” — a federal enforcement initiative involving the FDIC, OCC and other federal agencies. In July 2017, the D.C.

FDIC 112

FDIC Operations Policies Regional 112

PYMNTS

JUNE 24, 2020

They are also exhibiting increasingly robust cross-border payments capabilities, with a focus on simplicity and ease of operations internationally. Analysis, Compliance, Speed. At the same time, we see differences across regions that impact success rates.”. That includes the use of different payment methods by consumers.

Payments 130

Payments Regional Analysis Compliance 130

PYMNTS

MAY 17, 2018

Regional lender in Japan, Suruga Bank , apologized this week and admitted that staff may have knowingly processed loan documents that were falsified for a struggling property investment scheme, adding to the list of corporate scandals plaguing the country, reports in Bloomberg said. In effect, the perfect storm for corporate malfeasance.”.

Compliance 108

Compliance Lending National Fraud 108

PYMNTS

DECEMBER 11, 2019

10), Craig Moore, CEO of business financing platform Beehive , not only made the case for more P2P lending in the Middle East (the company is based in the United Arab Emirates), but also gave a larger view of the FinTech situation in that region as a new decade dawns. No matter what, FinTech seems a very good bet in this region of the world.

Fintech 144

Fintech Lending Regional Regulation 144

PYMNTS

DECEMBER 19, 2019

Well, that is where things get a little bit confusing, Arjun Kakkar, vice president of Strategy and Operations at Ekata , told PYMNTS in a recent interview. And if we’re being realistic, he said, there is really no end in sight to that confusion, at least in the immediate future, because there are so many nuances per region.

Compliance 102

Compliance Regulation Strategy Training 102

PYMNTS

JUNE 15, 2020

Supply chain disruptions and economic volatility have elevated risk exposure for many enterprises, but for small- to medium-sized businesses (SMBs) operating globally, that risk of exposure can be catastrophic. Indeed, for some SMBs, it already has, with economists anticipating a wave of bankruptcies and permanent SMB closures ahead.

Regional 245

Regional Operations Fintech Tools 245

PYMNTS

APRIL 22, 2019

However, both sides struggle with making trade finance profitable, and maintaining compliance. A recent survey from Strategic Treasurer found that 77 percent of banks point to KYC as the biggest hindrance to supply chain finance operations. ” Below, PYMNTS looks at some of the data points behind these conclusions.

Compliance 134

Compliance Regional Survey Fintech 134

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. News From The AML/KYC Ecosystem .

How To 170

How To blockchain Compliance Regional 170

PYMNTS

OCTOBER 12, 2020

According to Bloomberg , the company was using regional warehouses in the U.S. located customer’s region or directly from China. In addition, the program keeps Apple Stores operational during coronavirus lockdowns. to ship items. Now items that are in stock can be shipped directly from its network of almost 300 retail stores.

Apple 192

Apple Trends Regional Retail 192

PYMNTS

DECEMBER 29, 2019

billion deal after Uber guaranteed it would abide by a series of commitments designed to sustain competition in the regional market, Reuters reported Sunday (Dec. Careem will be a wholly-owned subsidiary of Uber yet operate independently with regards to branding and management. “We Regulators approved the $3.1

Regional 130

Regional Compliance Regulation Marketing 130

PYMNTS

SEPTEMBER 11, 2019

According to the new Simplifying Cross-Border Payments Playbook , there are five key criteria that an ideal cross-border payment solution should meet: speed, security, compliance, transparency and ubiquity. Currently, there are 57 real-time payments rails operating in more than 72 countries, with even more under construction.

Payments 190

Payments Regional Operations Guidelines 190

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 Deploy in multiple countries with minimal changes.

Compliance 166

Compliance Risk Management Digital Banking System 166

PYMNTS

JULY 7, 2020

This week’s look at the latest bank-FinTech tie-ups shows Banking-as-a-Service and other FinTech players embracing smaller regional and community banks to elevate small- to medium-sized business (SMBs) and corporate banking offerings. For more community banks, the latter strategy can fast-track digitization initiatives.

Community Bank 242

Community Bank Community Fintech Regional 242

PYMNTS

APRIL 24, 2019

Regulators want to have a greater stake in the way sharing platforms operate. In the April edition of the Payments And The Platform Economy Playbook , PYMNTS examines how regulatory compliance changes are impacting the growth of the sharing economy. Around the Payments and the Platform Economy.

Marketing 179

Marketing Regulation Case Study Security 179

PYMNTS

APRIL 16, 2020

Currencycloud is connecting regional banks to advanced FX and global payments technologies, while the firm’s founder, Nigel Verdon, is also targeting Banking-as-a-Service with his new startup, Railsbank. Plaid is unlocking payroll data to ease access to federal financing. ” Plaid Unlocks Payroll Data to Support PPP Lending.

Data 167

Data Lending Regional Fintech 167

Bank Innovation

MARCH 2, 2018

The 16 registered cryptocurrency exchanges currently operating in Japan will soon form a self-regulating body, after a $530 million heist of digital coins in the region led to investor concerns, Reuters reported today.

cryptocurrency 199

cryptocurrency Regional Regulation Operations 199

PYMNTS

NOVEMBER 21, 2017

With Europe only weeks away from PSD2 taking effect, Fiorano Software is debuting its solution for financial institutions (FIs) in the region to comply with the directive. The company revealed its new solution on Monday (Nov. The company noted its solution integrates with banks’ existing platforms and takes a few weeks to implement.

Software 180

Software Compliance Fintech Tools 180

PYMNTS

JUNE 26, 2020

The new partnership will allow customers of eWallet to make transfers across over 200 countries and territories in what the release calls an “expansive network” of mobile operators and also physical locations. The UAE also has to grapple with the problem of cumbersome remittances , subject to slow speeds and excessive fees.

Mobile 168

Mobile Regional Compliance Regulation 168

PYMNTS

JULY 10, 2020

Credit unions and regional or community banks have stepped in to fill the banking gap, making barriers to accessing much needed financial services lower than ever before for marijuana businesses. Today, however, the banking challenge has largely been solved. But current legacy rails can make this difficult.

Innovation 210

Innovation Payments Tools Compliance 210

PYMNTS

FEBRUARY 21, 2018

Montroll operated an unregistered online securities exchange and defrauded its users by misappropriating their bitcoins. We allege that BitFunder operated unlawfully as an unregistered securities exchange,” Marc Berger, director of the SEC’s New York regional office, said in the release.

Fraud 102

Fraud Bitcoin New York Regional 102

PYMNTS

DECEMBER 21, 2018

If a broker fails to comply, “it would be open to the board, depending on the circumstances of the case, to disapply the requirement, allow further time for compliance, or to deregister the broker as a Lloyd’s broker.” She will start her position this coming February. “I

Regional 188

Regional Compliance Marketing System 188

Bank Innovation

FEBRUARY 14, 2018

EXCLUSIVE – The Nordic countries, in the northern reaches of Europe, comprise a small region with a small population (about 26 million across 7 countries), but disparate payments infrastructure prevails despite a mobile-friendly populace.

System 257

System Regional Payments Mobile 257

PYMNTS

SEPTEMBER 27, 2019

Deploying nCino’s Bank Operating System, Santander U.K. Adopting nCino technology will enable the bank to operate its business services – serving small businesses to large enterprises – on a unified platform, the companies noted. Streamlining the infrastructure will also support compliance, they said. ” .

Lending 116

Lending Operations System Regional 116

PYMNTS

DECEMBER 7, 2020

Pioneer Bank has joined the number of firms filing lawsuits over the continuing and complex MyPayrollHR/ValueWise scandal, which a report from the Daily Gazette calls one of the largest in Capital Region history. GUUD has significant operations across Asia, and GUUD executives have publicly announced plans to expand in the region.

Fraud 159

Fraud Capital Regional Security 159

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.

Management 179

Management America New York Regional 179

PYMNTS

SEPTEMBER 8, 2020

The FAA’s role is to ensure that any [drone] operation is performed safely,” the FAA said in a statement to PYMNTS. The draft media bargaining code aims to ensure Australian news businesses, including independent, community and regional media, can get a seat at the table for fair negotiations with Facebook and Google.”.

Taxes 131

Taxes Google Apple social media 131

PYMNTS

APRIL 24, 2019

He also developed SWIFT’s current five-year plan, called SWIFT2020, which led to a renewed focus on cross-border and instant payments , crime compliance and deeper presence in the market infrastructure area. Pérez-Tasso joined SWIFT in 1995, and in 2015 was appointed as chief executive for the Americas and U.K.

Leadership 169

Leadership Regional America Community 169

PYMNTS

FEBRUARY 25, 2020

China is looking to keep up with consumers, financial institutions (FIs) and merchants that send funds and information through online channels, and several of the country’s related regulations resemble those from regions where such transactions are now commonplace. Confronting Chinese Compliance .

Regulation 140

Regulation Compliance Online Data 140

PYMNTS

OCTOBER 31, 2016

B2B trade and spend management firm Tradeshift is not only expanding its operations in Australia, but it’s setting up new offices there. 28) that it will open offices in Sydney to focus on serving Australian and New Zealand businesses, banking on the region’s solid economy. The company announced Friday (Oct.

Regional 100

Regional Taxes Compliance Operations 100

PYMNTS

JUNE 29, 2020

SMBs and merchants operating in the EU must comply with strong customer authentication (SCA), which mandates stricter authentication requirements for online and contactless purchases above a certain value. Banco de España, Spain’s central bank, granted the license, which enables RevoluPAY to operate within all 27 EU member countries.

How To 239

How To Payments Management social media 239

Cisco

DECEMBER 1, 2020

This year, Cisco took it a step further, building out not only the main Security Outcomes Study, but also creating regional reports and two industry-specific analyses – Financial Services being one of the chosen verticals. The goal is to lower cyber operational risk while increasing the business flexibility of the institution.

Study 73

Study Security Maine Regional 73

FICO

JUNE 12, 2020

In comparison to others in the Asia Pacific region, regulation has evolved due to last year’s Royal Commission, updates to the privacy act as well as changes enacted by global bodies such as the FATF (Financial Action Task Force). Like other advanced financial sectors, Australia has a complex and evolving regulatory environment. and the U.K.

Fraud 52

Fraud Compliance Regional System 52

Abrigo

FEBRUARY 23, 2023

The local decision-making and strong relationships with customers that are hallmarks of small community banks provide leaders with fresh chances to positively affect their towns, cities, and regions while growing a healthy institution. Check out our 1071 compliance resources. Worried about complying with the CFPB 1071 rule?

Community Bank 195

Community Bank Kansas City Community Lending 195

South State Correspondent

JANUARY 4, 2023

In addition, they may consider focusing on these five critical areas: Improve Operating Leverage. To improve the quality of their earnings, banks need their number one focus to be on making their operations more efficient. To the extent projects improve operating leverage and the total experience, so much the better. Conclusion.

Community Bank 195

Community Bank Capital Training Lending 195

PYMNTS

MAY 24, 2018

Its effects will likely have far-reaching consequences, too, for both EU-based companies and those that operate outside the region. Once officially live, GDPR will impact any company or organization that operates, stores or processes personal data belonging to a natural person — a “data subject,” in GDPR terms. In the U.S.,

Data 100

Data Compliance social media Operations 100

Bobsguide

JUNE 22, 2022

Interswitch has always strived to drive positive change in the region, and now that they have TranzAxis to support their ambitions, they will continue to revolutionise Africa’s payments space in the region, further strengthen the Verve payments network, and manage their Visa and Mastercard credit card business more efficiently.”.

Technology 78

Technology Payments Regional Cards 78

PYMNTS

JUNE 9, 2020

This growth in digital payment volume is testing the open banking networks proposed by regulators in multiple regions, including the U.K. Data privacy and security standards are critical for regulators to address in regions such as the U.S., The COVID-19 pandemic is forcing lawmakers in multiple regions under extreme scrutiny.

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Regulation Online California Regional 132