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6 Reasons Financial Institutions Are Embracing Risk and Regulation Tactics

Perficient

Legal Obligations and Regulatory Frameworks It is well-known that financial institutions operate within a complex web of laws and regulations. By streamlining processes and ensuring compliance with regulations, banks can reduce the likelihood of errors, fraud, and other operational inefficiencies that could threaten their stability.

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CFPB Rolls Out Innovation Regulator Network

PYMNTS

A network to better coordinate financial innovation among federal and state regulators is being launched by the Consumer Financial Protection Bureau (CFPB) in partnership with several states, the agency said in a press release. State regulators in every state were invited to join. .

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How Process Mining Accelerates Efficiency for Highly Regulated, Customer-obsessed Industries

Perficient

In the dynamic environment of highly regulated industries like healthcare and financial services, leaders often balance competing goals to delight customers while cutting costs. Process mining offers a data-driven, automated, and objective approach to analyzing business processes. what was done).

Industry 221
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DATA: How FI’s Innovation Gap Is Big Tech’s Big Opportunity

PYMNTS

It’s really difficult, the banking ecosystem is not fast and that’s just reality,” Jim McCarthy, industry expert and former innovation head for Visa, told Karen Webster in a recent conversation. And according to the data — consumers are increasingly warming up to the idea of taking them up on that offer.

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America’s banking regulations strangle innovations

Chris Skinner

Before the financial crisis, over 100 banks set up shop each year, on average, according to data from the Federal Deposit Insurance Corporation, the agency that approves … The post America’s banking regulations strangle innovations appeared first on Chris Skinner's blog.

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Alibaba’s Ma Worries EU Regulations Will Stifle Tech Innovation

PYMNTS

Jack Ma, the Chinese billionaire and founder of Alibaba, expressed concerns technology companies will be harmed by increased regulation coming out of Europe. CNBC , citing comments Ma made during the Viva Technology Conference in Paris Thursday (May 16), reported Ma said increased rules and laws hurt innovation and restrict tech companies.

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Regulation, Data Management Top Industry Concerns

Bank Innovation

Professionals in the financial services industry are focusing their energy on regulation and data management, according to a survey from consulting firm and technology services provider Synechron.