Perficient

SEPTEMBER 11, 2023

Already reviewed by Perficient, BES provides a secure and efficient portal to exchange documents, information, and communications for consumer compliance and Community Reinvestment Act (CRA) examinations. By the time people started speaking of Y2K , regulators were accepting documents from the bank prior to starting the onsite examination.

Compliance 221

Compliance FDIC Tools Leadership 221

PYMNTS

NOVEMBER 27, 2020

Compliance with financial regulations market-to-market around the globe is increasingly automated yet relies on the same human emotion that undergirds all forms of exchange: trust. In other words, banks and financial institutions (FIs) have an obligation to make sure you are who you claim to be.

Compliance 198

Compliance Regulation Payments Study 198

Perficient

MAY 27, 2022

For those wanting to start their own cryptocurrency fund, it’s important to be well informed about cryptocurrency regulations. Regulatory cryptocurrency regulations are most fluid at the state level. State Regulations. SEC Regulation. Central Bank Digital Currency (CBDC) ).

cryptocurrency 332

cryptocurrency Regulation Management Bitcoin 332

Perficient

NOVEMBER 30, 2021

Recognizing that regulated and non-regulated financial institutions seek to engage in cryptocurrency and crypto asset activities, the three largest federal bank regulators, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, recently issued a joint statement on crypto assets.

cryptocurrency 309

cryptocurrency Regulation Policies Compliance 309

Perficient

NOVEMBER 27, 2023

In the dynamic environment of highly regulated industries like healthcare and financial services, leaders often balance competing goals to delight customers while cutting costs. This comparison enables your teams to assess process effectiveness and identify deviations that require attention due to inefficiencies and/or non-compliance.

Industry 221

Industry Regulation Compliance Data 221

PYMNTS

JULY 2, 2020

The PYMNTS Merchants Guide To Navigating Global Payments Regulations, done in collaboration with Ekata , examines rapidly changing developments in digital payments at a time when cybercrime — and identity scams particularly — are going hard on legitimate businesses. New Behaviors, Same Regulations. Contactless, Meet Compliance.

Compliance 223

Compliance Data Regulation Online 223

Perficient

SEPTEMBER 6, 2023

The regulators feel that this proposed LTD rule would: Improve the resolvability of these banking organizations in case of failure, Potentially reduce costs to the Deposit Insurance Fund, and Mitigate financial stability and contagion risks by reducing the risk of loss to uninsured depositors.

Regulation 221

Regulation DC Capital Washington 221

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

New York 221

New York Compliance Regulation Analysis 221

Independent Banker

AUGUST 31, 2022

In today’s intense regulatory landscape, compliance extends to every aspect of banking, so much so that no one person or team can be solely charged with managing a bank’s compliance requirements. In fact, compliance has grown to become a massive responsibility that must be part of every employee’s job. My top three.

Compliance 177

Compliance Community Leadership Industry 177

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

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence Perficient’s Risk and Regulatory Center of Excellence (CoE) remains at the forefront of evolving financial rules and regulations, ensuring readiness to tackle emerging challenges and safeguard financial institutions and its customers.

Compliance 221

Compliance New York Regulation Analysis 221

Abrigo

JUNE 28, 2023

Share these reports on AML activities to inform directors Reporting to the board on AML and fraud compliance is an essential obligation. Why regular reports matter Board reporting on AML compliance activities BSA Officers have a lot of responsibilities. Reporting should represent the risk-based approach to AML/CFT compliance.

Compliance 195

Compliance Fraud Report Trends 195

Perficient

JUNE 5, 2020

Secure software practices are at the heart of all system development; doubly so for highly regulated industries such as health-care providers. As a best-practice it is recommended to adopt automation of certain security audits, integration of compliance oversight into key development process areas (e.g. Data Stewardship.

Compliance 332

Compliance Security Software System 332

Abrigo

MAY 19, 2023

Takeaway 2 Examining the following objectives and evaluating your loan review system based on them can ensure regulatory compliance. Introduction How regulators define successful loan reviews Mark Twain observed, “A thing long expected takes the form of the unexpected when at last it comes.”

System 195

System Regulation How To Lending 195

BankInovation

MARCH 16, 2021

Regulation E compliance: The Federal Reserve Board’s Regulation E outlines the rights, liabilities and responsibilities for electronic fund transfer (EFT) participants. Oconee State Bank recently automated its Regulation […]. Oconee State Bank recently automated its Regulation […].

Compliance 86

Compliance Regulation How To 86

Abrigo

AUGUST 31, 2023

Teaching staff these KYC tips to make clients feel more comfortable In 2023, KYC procedures must both support CDD compliance and make sure your institution is a welcoming place for all customers. You might also like this resource, "Customer due diligence checklist."

Compliance 195

Compliance Community Training System 195

Chris Skinner

DECEMBER 12, 2018

He’s not worried about Amazon, Google or Alibaba; he’s not concerned about FinTech start-ups, Revolut or Monzo; he doesn’t really care about Open Banking and software; as for machine learning, artificial intelligence (AI) and … The post Compliance will kill the bank appeared first on Chris Skinner's blog.

Compliance 416

Compliance Conference Google Software 416

Chris Skinner

JANUARY 14, 2018

The moderator first of all asked: Do you believe that the regulators are in the incumbent’s pockets and protect the industry from new competition? You may find it gratifying that most of … The post Innovation with compliance is difficult appeared first on Chris Skinner's blog.

Compliance 265

Compliance Innovation Conference Regulation 265

Abrigo

JULY 21, 2022

Teaching branch staff these KYC tips can aid CDD compliance BSA Officers can help tellers and other branch staff learn how to ask questions that both foster relationships and support CDD compliance. . But they can also help your BSA team by supporting Know Your Customer (KYC) and Customer Due Diligence (CDD) compliance. .

Compliance 195

Compliance Training Fraud Examples 195

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.

Training 221

Training Compliance Regulation Software 221

Abrigo

MAY 22, 2019

Department of the Treasury recently published A Framework for OFAC Compliance Commitments to provide financial institutions and other organizations with OFAC’s perspective on the essential components of a sanctions program. The root cause of these enforcement actions was due to the misinterpretation of OFAC regulations.

Compliance 150

Compliance Regulation Regional United States 150

PYMNTS

OCTOBER 7, 2019

Merchants in the European Union (EU) are still wondering exactly what changes the regulation will bring when it comes to their relationships with customers. Regulators in many EU countries have their own thoughts on SCA and how long it will take merchants to prepare. Around the PSD2 and GDPR world. About the Tracker.

Regulation 134

Regulation Trends Compliance National 134

PYMNTS

SEPTEMBER 23, 2020

Banks in the EU have been racing to comply with the General Data Protection Regulation ( GDPR ) and the revised Payment Services Directive ( PSD2 ) since both measures were enacted in 2018. He explained that the cloud can help FIs swiftly respond to compliance and security challenges during the pandemic.

Compliance 225

Compliance Regulation Guidelines Security 225

American Banker

JANUARY 19, 2024

Bank regulators Friday said the existing laws governing safety and soundness and fair lending are adequate to address risks posed by artificial intelligence, noting that while AI may be used to inform lending decisions, banks are ultimately responsible for compliance.

Regulation 88

Regulation Tools Compliance Lending 88

PYMNTS

NOVEMBER 4, 2020

Trade finance players, including corporates, banks and regulators, are finally ready to embrace modernization and technology. As a highly regulated area of financial services, trade finance has struggled to enter the digital age. Previously, regulation was very slow in adapting and approving of different technology," he said.

Regulation 234

Regulation Tools Compliance Technology 234

PYMNTS

NOVEMBER 13, 2020

As government regulators in China increase tech industry oversight, Tencent said it will comply with new laws intended to curb antitrust activities and tighten FinTech acceleration, according to a Bloomberg report on Friday (Nov. The regulators are looking more closely at transaction-based platforms, Lau said, per Bloomberg.

Regulation 227

Regulation social media Video Groups 227

PYMNTS

SEPTEMBER 24, 2020

Reducing fees for remittances might push price points low enough that more consumers could resume sending money home, though, and some researchers believe that money transfer service providers could make such price adjustments if they are able to reduce their own expenses through more robust and cost-effective regulatory compliance measures. .

Compliance 223

Compliance Tools Fraud Regulation 223

PYMNTS

MAY 31, 2016

And the regulations just keep coming. In the banking industry, the mindset among compliance staff seems to be one where the expectation is to have a new rule governing new rules that govern new rules. In this brave new regulatory world, noted The Journal , traders interact with compliance officers. among other agencies.

Regulation 100

Regulation Compliance Industry Course 100

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. 5 Things Regulators Will Look For In Your Next Exam. Learn more.

Regulation 195

Regulation Fraud Compliance Trends 195

PYMNTS

AUGUST 23, 2018

Compliance of General Data Protection Regulation (GDPR) rules remain low across the globe, according to the latest research from Dimensional Research. When researchers isolated the findings to businesses in the European Union (EU), they found only marginal improvement, with 27 EU companies reporting GDPR compliance.

Compliance 184

Compliance Regulation Data Survey 184

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. 5 Things Regulators Will Look For In Your Next Exam. Learn more.

Regulation 195

Regulation Fraud Compliance Lending 195

PYMNTS

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. ” Organizations must do more with less, and they must do it quickly, he continued.

Compliance 191

Compliance Risk Management Training Analysis 191

PYMNTS

APRIL 1, 2020

Consumer data privacy laws were making compliance difficult before a pandemic brought the world to a halt. In the latest Merchants Guide To Navigating Global Payments Regulations we find that dastardly data deeds aren’t stopping despite COVID-19. Are we living in those conditions now? No one is totally sure. Sixty-three percent of U.S.

Compliance 153

Compliance Data Google Regulation 153

PYMNTS

NOVEMBER 9, 2020

Regulation. EU Gears Up To Propose New Big Tech Regulations. Australian Regulator Looks Into Merger Law Changes. The regulation enables authorities in Turkey to take content off of platforms instead of restricting access as they had done previously.

Regulation 211

Regulation social media Compliance California 211

PYMNTS

SEPTEMBER 22, 2020

Consumers pivoting to online banking are also more concerned over the privacy and security of their data, especially as fraud volumes creep up —and financial regulators are taking notice. How The Pandemic Is Shifting Banks’ Understanding Of Clo ud Compliance. Around The Cloud Banking World. About The Tracker.

Compliance 191

Compliance Digital Banking Security Online 191

PYMNTS

DECEMBER 16, 2020

Robinhood has come under the watchful eye of regulators — this time in Massachusetts. State regulators are set to file a complaint on Wednesday (Dec. 16) saying that the stock-trading platform failed to protect its customers and their assets, violating state laws and regulations.

Massachusetts 178

Massachusetts Regulation Security Compliance 178

CFPB Monitor

NOVEMBER 9, 2022

On November 9, 2022, New York Department of Financial Services (NYDFS) Superintendent Adrienne Harris announced that the NYDFS formally proposed an updated cybersecurity regulation. The proposed regulations would create three different tiers of companies based on their size, operations, and nature of their businesses.

Regulation 78

Regulation Compliance New York Training 78