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US Finance Crimes Org Calls For Private Sector Innovation

PYMNTS

The Financial Crimes Enforcement Network ( FinCEN ) is launching an initiative called the FinCEN Innovation Hours Program, as a call to private sector companies that have developed tech to fight money laundering and terrorist financing, the organization said in a release. FinCEN expects to hold events in the Washington, D.C.

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Bitcoin Daily: UK Researching CBDC Use Cases; Lebanon To Introduce CBDC In 2021; SEC Member Pushes For Cryptocurrency Regulation; ShapeShift Delists Three Privacy Coins

PYMNTS

In other news, Securities and Exchange Commission (SEC) member Hester Peirce expressed hope that securities regulations concerning cryptocurrencies will speed up to match the speed of financial technology innovation.

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Inside The FIS Innovation Process With EVP Bruce Lowthers

PYMNTS

The basis of innovation is not the desire to create something new or even the inspiration to do so. Innovation occurs where there is a problem and a person with the tools to solve it. Anyone can have a good idea,” Lowthers said; innovation is about what you do with it. PYMNTS: Where do you look for innovative ideas, and why?

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How Synchrony Financial Is Upgrading Its AML Strategy

PYMNTS

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 to launder approximately $2 trillion annually. AML Strategies and Innovation Quirks. Changing AML with AI and ML.

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Today In Payments: Wirecard’s Former CEO Markus Braun Arrested; Airbnb CEO Sees Potential For 2020 IPO

PYMNTS

Braun faces charges of accounting fraud and market manipulation designed to artificially inflate the financial technology company’s balance sheet to make it look more appealing to investors and customers. NEW DATA: How Credit Unions Are Innovating To Help Micro Businesses. Amazon Big Style Sale Keeps Consumers Guessing.

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Young Consumers Love to “Buy Now, Pay Later” – Here’s What to Know About the Explosive Fintech Trend

Perficient

One could consider it the “layaway of the digital age,” except unlike with layaway, the consumer does not have to pay in full before taking their purchase home, using the service, obtaining the tickets to an event or destination, etc., which is a huge draw to using BNPL as a non-cash payment method. According to Kristen E.

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10 Top Banking Podcasts You Should be Listening to

Abrigo

Podcasts for Bank & Credit Union Execs & Staff Are Plentiful; Here Are 10 Good Ones These banking podcasts discuss current events, strategic and policy issues, competition, digitalization advice, and more. Weekly episodes highlight innovators and industry players driving innovation in the financial services industry.

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