PYMNTS

MARCH 12, 2019

Among the latest headlines swirling in FinTech: Digital bank Revolut, based in the United Kingdom, has taken on an adviser, along with filling new positions, to bolster compliance teams at the firm. Asked about which cases spotlight the need for comprehensive money laundering regulation in the European Union, Jee cited several.

Regulation 148

Regulation Fraud Examples Data 148

PYMNTS

JANUARY 13, 2021

The Office of the Comptroller of the Currency (OCC) granted digital asset platform Anchorage Trust Company a digital banking license, according to a press release Wednesday (Jan. With the national trust bank charter, South Dakota-based Anchorage will become Anchorage Digital Bank , National Association.

South Dakota 131

South Dakota Digital Banking Bitcoin cryptocurrency 131

PYMNTS

MAY 1, 2020

Open banking developments were impacting customers’ interactions with their banks before the COVID-19 pandemic. Financial institutions (FIs) and regulators in Singapore, the E.U. APAC lawmakers appear to be using them as a guide in creating their own regulations, including in Dubai and South Korea. and the U.S.

Innovation 245

Innovation Regulation Digital Banking Security 245

Accenture

MARCH 23, 2017

Development was evident everywhere—product, but also management teams. I wanted to explore how investment trends in this area are impacting the industry and how the ecosystem can work with the regulator. We think about RegTech as technology that lowers the “cost” (technical, physical, monetary) of regulation by using technology.

Regulation 150

Regulation Industry Trends Compliance 150

Accenture

MARCH 23, 2017

Development was evident everywhere—product, but also management teams. I wanted to explore how investment trends in this area are impacting the industry and how the ecosystem can work with the regulator. We think about RegTech as technology that lowers the “cost” (technical, physical, monetary) of regulation by using technology.

Regulation 150

Regulation Industry Trends Compliance 150

FICO

JANUARY 25, 2021

Customer identity management is a term that is subject to a number of definitions. I will define it here for financial services and regulated companies as the business strategy and processes by which an organization establishes who a customer is and ensures that activity on their accounts is carried out by them. Document verification.

Management 98

Management Fraud Customer Experience Compliance 98

Bobsguide

MARCH 21, 2022

Finastra and Union of Arab Banks to accelerate digital banking together. Partnership will see the development of a model digital bank, licensed to Union of Arab Banks members to help them transition into digital banking. However, resource management remains a central challenge.

Digital Banking 60

Digital Banking Innovation Community Regional 60

PYMNTS

NOVEMBER 19, 2019

The Monetary Authority of Singapore is offering as many as five digital banking permits to non-banks to boost competition. China is offering up to two licenses for a full digital bank, which can serve all customers and require S$1.5 billion ($1.1 billion) in capital and local control.

Digital Banking 101

Digital Banking Capital Taxes Groups 101

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. FIs in Fidor’s native Germany should by now be familiar with the standards set by GDPR, PSD2 and other regulations aimed at online banking.

Compliance 225

Compliance Regulation Guidelines Security 225

PYMNTS

AUGUST 7, 2019

Business payments technology firm Bottomline Technologies has rolled out a suite of services for banks to elevate their customer engagement with corporate services. The offering also connects banks with an open banking API to promote collaboration, the company said. In a press release on Tuesday (Aug. In the U.K.,

Digital Banking 177

Digital Banking Regulation Analysis Management 177

CFPB Monitor

JUNE 25, 2020

The OCC has issued an Advance Notice of Proposed Rulemaking (ANPR) seeking comments in connection with a comprehensive review of its regulations on electronic activities of national banks ( 12 CFR part 7, subpart E ) and federal savings associations ( 12 CFR part 155 ). Comments on the ANPR must be received by August 3, 2020.

National 103

National Regulation Innovation Technology 103

PYMNTS

OCTOBER 22, 2020

The UnionBank of the Philippines is digitizing its onboarding process to offer custom solutions that will aid in making banking transactions more seamless, the bank announced on Thursday (Oct. The process would be set up so that digital banks face the same regulations in the Philippines.

Digital Banking 184

Digital Banking Operations Regulation Payments 184

FICO

MARCH 1, 2022

Following the highly successful The 11 Commandments of Digital Banking eBook , we are kicking off a series of 5 deeper dive blog posts that group the 11 Commandments below into common themes. Digital lift-and-shift is not a strategy! How FICO Can Help You Advance Your Digital Banking. Respect the data.

Digital Banking 52

Digital Banking Data Customer Experience eBook 52

PYMNTS

SEPTEMBER 22, 2020

Consumers moved to digital banking in droves during the early months of the COVID-19 pandemic — it appears they are not moving back. 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.

Compliance 191

Compliance Digital Banking Security Online 191

PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

Mobile 229

Mobile Report America Regulation 229

FICO

FEBRUARY 12, 2023

Home Blog FICO Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti The most popular posts in our Customer Development category dealt with digital banking, optimizing credit line increases, loan pricing and machine learning for credit risk models.

Digital Banking 52

Digital Banking eBook Analytics Customer Experience 52

PYMNTS

JANUARY 12, 2020

Wells Fargo is striving to revamp its approach to technology to ensure systems stay online, satisfy regulators and block cybercriminals, the Wall Street Journal (WSJ) reported on Saturday (Jan. He said repairing problems pointed out by regulators is his “first priority.”

System 147

System Regulation Resources Meeting 147

PYMNTS

NOVEMBER 29, 2017

According to the forthcoming digital bank-and-brokerage service combo’s co-founder and CEO, Stephane Lintner, the firm is launching a model that reimagines security in the digital age. Instead, the bank sends the lists to the user’s account, which then handles the analysis and identify verification itself. he asked. “A

Digital Banking 108

Digital Banking Trends Security Regulation 108

PYMNTS

SEPTEMBER 28, 2020

Banks, businesses and consumers fundamentally altered how they interacted with each other in the early months of the COVID-19 pandemic — and regulators tasked with making sure their data and payments are kept safe took notice. Regulators in countries like Egypt have only recently rolled out their data protection rules.

Online 151

Online Report Payments Regulation 151

PYMNTS

AUGUST 21, 2020

JPMorgan Chase plans to launch a digital bank in the United Kingdom early next year, Sky News reported Friday (Aug. The move “will enable it to capitalize on the accelerating transition of millions of bank customers from branch-based activity to digital services during the COVID-19 pandemic,” the news outlet said.

Report 173

Report Digital Banking Lending Technology 173

CFPB Monitor

APRIL 25, 2022

As we will discuss, the timing of the Consent Order indicates that even when regulators permit crypto activities by financial institutions, they remain cautious, particularly as to BSA/AML compliance. In granting this charter, the OCC applied the same rigorous review and standards applied to all charter applications. Compliance Committee.

Compliance 78

Compliance Digital Banking Training South Dakota 78

PYMNTS

NOVEMBER 3, 2020

This puts merchants today in an intriguing position when it comes to fostering trust with consumers to keep them engaged, especially given the continued global development of open banking regulations. For example, a September report found that the number of open banking users in the U.K. The Pandemic And The Privacy Question .

Study 192

Study Data Regulation Digital Banking 192

Celent Banking

NOVEMBER 11, 2015

New York State Department of Financial Services (NYDSF) is one step closer to releasing cyber security regulations aided by the largest security hacking breach in history, against JP Morgan Chase. The timing will undoubtedly put pressure on regulators to push through strong regulation. Access controls and identity management.

Cyber Security 100

Cyber Security Regulation Security New York 100

PYMNTS

DECEMBER 1, 2019

In December 2018, it became the first P2P lender to be granted a conditional banking license by the Financial Conduct Authority (FCA), with plans for its digital bank offering to include a fixed-term savings product, a credit card and a money management app.

Digital Banking 142

Digital Banking Capital Regulation Lending 142

PYMNTS

JUNE 11, 2018

Far-reaching data protection regulations like PSD2 are both a consequence and catalyst of change in how financial service providers store, manage and use data. As banking services and products digitize, that means institutions have more data to handle – much, much more – impacting everything from compliance to customer relations.

Data 100

Data Management Analytics Compliance 100

PYMNTS

JANUARY 24, 2017

“The core bank account, plus the lending, plus the AI,” said Walsh, “brings the best of all of those into a single app … with no branches, though we do have agents who are in a call center … but right now, [all functions are through] mobile devices.”. With AI … we can help them manage spending and build savings.”.

Digital Banking 100

Digital Banking Millennials Lending Google 100

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. The near-frictionless Know Your Customer (KYC) solution merits a look from banks. You have never heard so many intelligent people sound not so smart.

Conference 221

Conference Las Vegas Fraud Case Study 221

PYMNTS

JUNE 17, 2020

According to a report in ZDNet , Westpac said that “a mix of technology and human error” and “deficient financial crime processes” were behind the financial institution’s (FI’s) lack of compliance with anti-money laundering (AML) regulations. As many as 23 million occasions, in fact. Looking Ahead.

Compliance 188

Compliance Regulation Risk Management System 188

PYMNTS

JUNE 30, 2020

The agreement is expected to accelerate cashless payments and digital banking across the Middle East and North Africa, the companies announced. Junaid Iqbal , managing director of Careem Pay, said the only way digital payments make a difference is when both sides of the market benefit. Regulators approved the $3.1

Payments 207

Payments Security Regional Digital Banking 207

PYMNTS

NOVEMBER 23, 2020

OCC Calls for Equal Access to Banking Services. The Office of the Comptroller of the Currency (OCC) has put forward a personal banking rule meant to level the playing field. Morgan said they are looking to Q2 and Q3 for an economic rebound, assuming that the coronavirus vaccine is successful.

Analysis 162

Analysis Digital Banking Report Regulation 162

PYMNTS

JANUARY 28, 2021

With 6 in 10 financial institutions (FIs) turning to digital channels for customer acquisition and the mobile experiences those customers now expect, digital-first banking is much on the minds of consumers, regulators and, most assuredly, bad actors. It’s a situation demanding action.

Fraud 244

Fraud Survey Digital Banking Security 244

PYMNTS

JUNE 26, 2018

Digital banking offerings might not be new in countries like the U.S. Recent partnerships and product launches are bringing digital capabilities to financial institutions (FIs) and consumers in countries where access to financial tools was previously limited to brick-and-mortar branches. Around The Digital Banking World .

Trends 127

Trends Digital Banking United States Tools 127

PYMNTS

DECEMBER 26, 2019

Lei said the regulator will reinforce the fusion of FinTech and the foreign exchange market and will oversee the advancement of new technology. “We We will gradually expand the scope of the pilot and the application scenarios of blockchain technology in cross-border financing and macro-prudential management,” Lu said at a forum in Beijing.

blockchain 136

blockchain Regulation cryptocurrency Study 136

PYMNTS

DECEMBER 13, 2018

digital bank, announced Thursday (Dec. 13) that it received approval for a banking license in Europe by the European Central Bank. While Revolut said the license is a big step for the company, it noted that Revolut isn’t automatically turning into a bank right away with the license. Revolut, the U.K.

Digital Banking 143

Digital Banking Regulation Meeting Operations 143

PYMNTS

MAY 28, 2020

Plus, Samsung and SoFi have partnered to offer a new mobile money management tool. Fueled by COVID-19, giant tech companies are seeking deals at their fastest pace in years, despite an increase in scrutiny by regulators. SoFi Powers Samsung Pay Mobile Banking Services. Google Reports Resurgence in Pandemic Hacking, Phishing.

Google 130

Google Samsung Report Payments 130

PYMNTS

NOVEMBER 26, 2019

Recent data indicated that 82 percent of SMBs shutter in their first year because of poor cash management operations. This demand is driving the global expense management software market to reach $6.6 Yordex offers virtual cards as well, which can be used to manage online business expenses, such as recurring subscription charges.

Tools 141

Tools Boston Cards Management 141

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. banks have to analyze AML regulations before even beginning to innovate, and the rules in question change often.

Compliance 123

Compliance Fraud Study Digital Banking 123