Abrigo

FEBRUARY 8, 2022

What NBFIs Should Know About Their AML Programs NBFI AML compliance requirements are top of mind in today's regulatory environment. NBFIs’ AML compliance requirements. But what about the NBFI compliance factor, particularly Bank Secrecy Act and anti-money laundering (BSA/AML) compliance? DOWNLOAD .

Compliance 195

Compliance Training Regulation Fraud 195

PYMNTS

SEPTEMBER 23, 2020

These systems are also designed to ensure compliance with government regulations for fighting organized crime rings, with Thomson Reuters reporting there were 80,000 regulatory updates around the world in 2019 that banks must comply with or be punished with fines. British banks spend upward of £6.7 billion ($8.9 billion in 2019.

Technology 208

Technology Report Fraud Study 208

Perficient

JUNE 1, 2022

So far in our 6-part blog series explaining the intricacies of TRACE, we have defined TRACE reporting, detailed the prep work to be done in order to effectively report TRACE transactions , and reviewed considerations for alternative trading systems. by programming systems to delay reporting until the end of the reporting period.

Report 294

Report Security Regulation System 294

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 17, 2018

Australian challenger bank Judo Capital has chosen VERMEG , a leading banking and insurance software solution company, to meet its Australian Prudential Regulation Authority (APRA) reporting requirements as it pursues its full banking license. “Regulatory reporting is an essential function for Judo.

Capital 116

Capital Compliance Report Software 116

Abrigo

MARCH 2, 2023

Banking technology decisions now affect future growth With the possibility of a recession, community financial institutions may consider a delay or cut in technology spending. Takeaway 2 According to Forrester data, firms pursuing technology-driven innovation grow three to four times faster than industry averages.

Technology 195

Technology Lending Community Software 195

CB Insights

NOVEMBER 15, 2021

Zenwork , a digital tax compliance and regulatory reporting technology provider , has raised $163M in growth equity funding from Spectrum Equity. Arkansas-based Zenwork, formerly known as Tech Atlantis, is a RegTech firm that helps companies automate their tax reporting processes. HOW’S THE COMPANY PERFORMING?

Taxes 54

Taxes Compliance Technology Report 54

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. That’s only if analysis of that data can be done correctly, however.

Compliance 191

Compliance Risk Management Training Analysis 191

PYMNTS

NOVEMBER 26, 2019

But financial regulatory compliance can be a headache for any market. For traditional banks, compliance experts agree that it’s all about data — and the ability to share information with regulators. Just ask Sergiy Barybin, CEO of Lithuanian cross-border payments technology company SatchelPay. Resuming Operations.

Compliance 182

Compliance Regulation Fintech Resources 182

Abrigo

JUNE 9, 2020

Technology has enabled financial institutions to operate more quickly and efficiently, creating a better experience for customers. Compliance is at the center of the lending process at financial institutions. Without the right tools and processes in place, however, compliance can be monotonous and inefficient.

Technology 195

Technology Lending Compliance Data 195

PYMNTS

JULY 1, 2020

The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). The pandemic has heightened risks for pretty much everyone, including U.S.

Compliance 166

Compliance National Fraud Operations 166

PYMNTS

APRIL 1, 2020

Consumer data privacy laws were making compliance difficult before a pandemic brought the world to a halt. businesses experienced at least one data breach that compromised a minimum of 1,000 records in 2019,” the report states. Are we living in those conditions now? No one is totally sure. Sixty-three percent of U.S. It’s not like U.S.

Compliance 153

Compliance Data Google Regulation 153

Insights on Business

AUGUST 22, 2018

Whether the change is additional regulations or a rollback of existing regulations (which we are seeing in the US), the impact on financial institutions and their legal and compliance professionals is significant. 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

AUGUST 13, 2020

PAAY said its EMV 3DS offering lets merchants decrease chargeback costs, bolster authorization rates and maintain compliance as they provide an easy as well as frictionless experience for users. The company reports that retailers selling through eCommerce are experiencing record sales numbers, but fraud rates are also on the uptick.

Technology 248

Technology User Experience Fraud Comparison 248

PYMNTS

SEPTEMBER 17, 2018

Technology adoption is at an all-time high for this industry, according to Teletrac Navman’s recent Telematics Benchmark Report: U.S. The problem is that certain technologies struggle to gain traction within fleet operations. Below, PYMNTS takes a look at some of the latest data in fleet technology adoption.

Compliance 139

Compliance Industry Technology Data 139

Banking Exchange

NOVEMBER 17, 2021

Annual report reveals regulations aimed at digital currencies and securing digital economies Compliance Compliance Management Compliance/Regulatory Digital Technology Financial Trends Feature3 Feature.

Compliance 78

Compliance Trends Regulation Security 78

PYMNTS

FEBRUARY 12, 2020

Fenergo , a Dublin-based FinTech startup that helps other banking organizations deal with regulatory compliance, onboarding and “lifecycle management,” has raised $80 million and has a valuation of $800 million, according to a report. This round is reportedly one of the larger ones completed for an Irish FinTech.

Compliance 150

Compliance Fintech Customer Experience Industry 150

PYMNTS

JUNE 14, 2017

Tax and accounting compliance can be an overwhelmingly monumental task as companies expand their geographic footprint. Analysts agree that a company should work with partners, advisors and technologies that can help them manage their compliance demand across borders. There are also an “extremely high number” of tax rules.

Compliance 146

Compliance Marketing Taxes Groups 146

PYMNTS

OCTOBER 16, 2019

Flowhub , a cannabis retail management software vendor, has raised $23 million in its bid to automate cannabis compliance. What we are experiencing right now is an end to cannabis prohibition, and Flowhub is on the front lines of this movement,” said Sherman in a statement, according to reports.

Compliance 109

Compliance Software Retail Regulation 109

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

FEBRUARY 29, 2024

Driven by technological advancements, regulatory changes, and shifting consumer preferences, the banking industry must evolve and respond accordingly. Facilitation of embedded lending while ensuring compliance: Embedded finance initiatives must adhere to regulatory requirements.

Trends 221

Trends Industry Analytics Compliance 221

PYMNTS

OCTOBER 5, 2020

Financial institutions (FIs), payment providers and FinTechs are deploying numerous technologies to keep money launderers away, including artificial intelligence (AI) and data analytics.

Online 141

Online Compliance Report Study 141

PYMNTS

SEPTEMBER 24, 2020

One 2019 report noted that there were 220 updates to such requirements worldwide each day, equating to roughly 80,000 in one year. Companies are reexamining how they can use cloud technologies to comply with changing security standards as digital banking volumes expand. Compliance, Cybercrime And The Cloud . EU and U.K.

Compliance 151

Compliance Fraud Regulation Security 151

PYMNTS

SEPTEMBER 25, 2019

The current regulatory climate remains in its relative infancy for this industry, so marketplace lenders are not only tasked with maintaining compliance but diligently tracking the regulatory landscape to forecast new and changing rules. In the U.S., Data Solutions For Data Problems.

Compliance 117

Compliance Risk Management Lending Regulation 117

PYMNTS

MARCH 1, 2017

to France to Singapore and Australia – Payments as a Service solutions are seeing greater expansion of mobile payment technologies. In India, solutions by Intex Technologies and OMA Emirates have been introduced to help local markets adjust to a cashless society. News from the world of Payments as a Service solutions.

Compliance 100

Compliance Report Apple Mobile 100

PYMNTS

NOVEMBER 9, 2016

Any organization, small or large, private or public, must handle the pressures of compliance. ” As one can imagine, paper checks don’t support this type of transaction data management as well as other payment technologies could. “Organizations are looking for greater technology efficiencies,” he said.

Compliance 174

Compliance Resources Data Management 174

CB Insights

SEPTEMBER 16, 2021

UK-based PassFort offers SaaS solutions that address compliance challenges and elevate customer experiences. It also reported that it has experienced 2.5X It claims to have processed 6M automated compliances worldwide as of June 2021. The post KYC And AML Compliance Technology Provider PassFort Raised $16.2M

Compliance 58

Compliance Technology Customer Experience Maine 58

Abrigo

JULY 20, 2017

Allaboutrisk.com (AAR) recognizes Sageworks as a credit risk vendor in its 2017 Risk Software Report. AAR is the global leader for online news, product and innovation information on risk, compliance, and trading. The products featured in the report include: · Credit Analysis. ALLL – Allowance for loan and lease losses.

Software 150

Software Report United States Compliance 150

Perficient

JANUARY 23, 2024

The COVID-19 pandemic prompted several unprecedented shifts in society, notably impacting the workplace and necessitating the adoption of innovative technologies that facilitate collaboration and efficiency in a work-from-home (WFH) environment. This post has been updated to reflect FINRA Regulatory Notice 24-02, issued January 23, 2024.

Compliance 221

Compliance Regulation Industry Maine 221

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. In 2021, the Standish Group reported that 83% of I.T.

Technology 135

Technology Regional Community Bank Community 135

PYMNTS

FEBRUARY 22, 2019

Office of the Comptroller of the Currency (OCC), over deficiencies that the OCC identified in the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program. The office recently examined the branches for BSA/AML and Office of Foreign Assets Control (OFAC) sanctions compliance. On Wednesday (Feb. On Wednesday (Feb.

Compliance 108

Compliance Los Angeles New York blockchain 108

PYMNTS

MARCH 27, 2019

While regulators had transparency and financial security in mind when introducing more stringent requirements for banks following the global financial crisis, financial institutions faced a sudden surge in the burden compliance. The Key To Compliance Is Data.

Compliance 116

Compliance Data Regulation Analytics 116

Perficient

DECEMBER 22, 2023

This mitigates the risk of customer service representatives providing incorrect information and ensures compliance with regulatory disclosures, ultimately enhancing the overall customer experience while reducing costs. Contact our experts today if you are interested in learning more about up-and-coming news in financial services.

Risk Management 221

Risk Management Compliance Fraud Regulation 221

PYMNTS

DECEMBER 12, 2019

JPMorgan Chase has been using artificial intelligence (AI) and machine learning to process expense reports and check them for compliance, according to Bloomberg. We’re doing 100 percent of audit[s] through a machine learning model that makes sure that, as we process travel and expense reports, they’re in alignment with our policies.”.

Report 132

Report Fraud Policies Compliance 132

Perficient

JANUARY 3, 2024

The COVID-19 pandemic prompted several unprecedented shifts in society, notably impacting the workplace and necessitating the adoption of innovative technologies that facilitate collaboration and efficiency in a work-from-home (WFH) environment. The Benefits FINRA anticipates the WFH model to endure, regardless of the state of the pandemic.

Compliance 221

Compliance Risk Management Regulation Industry 221

PYMNTS

JUNE 9, 2020

FinTech firms and government bodies are responding to the wave of cybercrime by developing new anti-money laundering (AML) and know your customer (KYC) technologies, particularly those leveraging biometric authentication factors. Deep Dive: Using Biometrics To Enable And Enhance AML/KYC Compliance. billion by 2024. billion by 2024.

Online 195

Online Report Compliance Fraud 195

PYMNTS

SEPTEMBER 13, 2017

Sabre Corporation has published the results of its “ 2017 Asia Pacific Corporate Traveler Study ,” identifying two major trends driving business travel in the region: an increased emphasis on mobility and a growing concern over non-compliance. According to that report, 78 percent of U.S.

Policies 158

Policies Compliance Mobile Survey 158