PYMNTS

JANUARY 28, 2021

It will likely alter global markets and regulations as the financial ecosystem becomes more digitized. The following Deep Dive examines the interest in contactless payments among credit union members and the opportunity for the CU space to meet members’ changing payment needs through digital innovation.

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Innovation Millennials Payments Mobile 187

CFPB Monitor

MAY 31, 2022

Associate Director Evangelista stressed “responsible innovation” by the cryptocurrency industry, in order to protect consumers and national security interests, as well as to combat cybercrime and other illicit financial activity. Responsible Innovation “. Responsible Innovation “.

cryptocurrency 146

cryptocurrency Innovation DC National 146

PYMNTS

DECEMBER 10, 2018

The statement gave a nod to “private sector innovation” that can use tech to detect and report financial crimes such as money laundering and terrorist financing. In China, China’s banking and insurance regulator, as reported by Reuters, wants banks to meet credit demand from private firms “to the greatest possible extent.”

Regulation 172

Regulation Fintech FDIC National 172

PYMNTS

NOVEMBER 10, 2020

The announcement did not specify the regulations, but it did note that the approach will ensure that the CBDC meets “the same minimum standards we expect of other payment methods.”. Regulators are slow, and there’s a reason we’re slow,” she said, speaking at CoinDesk ’s Bitcoin for Advisors event. “We

cryptocurrency 167

cryptocurrency Regulation Bitcoin Colorado 167

PYMNTS

DECEMBER 27, 2019

The move signals that Big Tech companies and their acquisitions are going to be under more and more scrutiny as regulators from countries all over the world continue to open investigations. Competition and Markets Authority (CMA) over potential anti-competition issues, according to a report by Bloomberg. A homegrown U.K.

Regulation 130

Regulation Marketing Online Examples 130

PYMNTS

JULY 10, 2020

For several years, while state-level legalization has expanded, access to traditional banks remains an issue thanks to their status as federally regulated entities. It’s why, said Muller, payment innovators in the cannabis market must keep a macro view while targeting micro use-cases and user populations.

Innovation 210

Innovation Payments Tools Compliance 210

PYMNTS

NOVEMBER 12, 2020

The use of physical checks for payment, for example, remains prevalent in markets like India, Thailand and Malaysia, and the movement restrictions during the pandemic meant “there was a crisis for our clients in terms of being able to collect payments,” said Kanthadai. The legacy of manual payment modes is one factor behind the acceleration.

Innovation 295

Innovation Regional Data Payments 295

PYMNTS

JANUARY 22, 2020

By way of example, the total of U.S. Separately, IBM CEO Ginni Rometty told CNBC from Davos that artificial intelligence should be subject to “precision regulation … you want to have innovation flourish and you’ve got to balance that with security.” Right now people think central banks around the world can do whatever they want.

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Taxes Regulation Conference National 131

PYMNTS

DECEMBER 31, 2020

Morgan’s EMEA Head of Wholesale Payments Shahrokh Moinian, technological innovation is helping to unlock more opportunities for corporate treasurers to step up to this newfound strategic role of mitigating risk within their organizations. The other is technological innovation. i2C: Regulators Circle The Wagons On Big Tech.

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Innovation Payments Trends Regulation 289

PYMNTS

MARCH 9, 2018

While the European Banking Authority has created a “roadmap” on how to regulate emerging FinTech services, the body is not keen on creating a unified approach to cryptocurrency regulation — at least not yet, Reuters reported.

Regulation 133

Regulation Fintech cryptocurrency Bitcoin 133

PYMNTS

SEPTEMBER 24, 2019

The bumpy road cryptos face under scrutiny from regulators (we’re looking at you, Libra ) was a springboard into a larger discussion between Zac Cohen, general manager at Trulioo , and Karen Webster on the challenges FIs and others face when deploying new technologies. Complications arise when financial activity is so far-flung, he added.

Innovation 182

Innovation Fraud Technology Security 182

PYMNTS

JUNE 9, 2020

The EU enacted open banking rules in 2018, inspiring regulators worldwide to reconsider how they were transacting funds or transmitting data. The COVID-19 pandemic’s impact on daily business has generated new questions surrounding these initiatives that regulators are now scrambling to answer. and the EU. Australia and Canada.

Regulation 132

Regulation Online California Regional 132

PYMNTS

JUNE 14, 2019

Google CEO Sundar Pichai pushed back against talk of regulating tech companies, saying that the move could have unintended consequences, according to a report by CNBC. “I I worry that if you regulate for the sake of regulating it, it has a lot of unintended consequences,” Pichai said.

Google 108

Google Regulation Comparison Leadership 108

PYMNTS

OCTOBER 16, 2019

16), saying, “It’s time for Congress to regulate the industry.”. Why, for example, should a flashlight app have your location data?” There’s no good reason that companies won’t be able to comply with reasonable regulation,” he said. But even in the best of circumstances, that oath is voluntary.”.

Regulation 100

Regulation Data New York Examples 100

PYMNTS

FEBRUARY 5, 2018

Last month, Canada’s Competition Bureau released its final study on tech-led innovation in FinTech, offering regulators some thoughts on competition in the payments sphere, along with suggestions on where the competitive landscape could be improved. PYMNTS asked which countries might be a model and a template for innovation for Canada.

Regulation 103

Regulation Bitcoin Innovation Study 103

CFPB Monitor

SEPTEMBER 29, 2021

The New York Department of Financial Services has issued a proposed regulation to implement S 5470–B , which requires consumer-like disclosures for “commercial financing” transactions of $2.5 The proposed regulation would give the provisions added by S 5470-B to the Financial Services Law the title “Commercial Finance Disclosure Law” (CFDL).

Regulation 78

Regulation New York California Examples 78

PYMNTS

MAY 11, 2018

Innovation implies a break from the conventional ways of operating a business. Ultimately, innovation is oxygen for companies in almost any vertical, as competition demands new products and services, improving customer experiences in unexpected ways. Some companies view risk management and compliance as roadblocks to innovation.

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Compliance Innovation Management Risk Management 125

PYMNTS

OCTOBER 18, 2017

Innovation is oxygen in payments. For financial services firms, innovation is spurring speed, killing friction and fostering loyalty among customers. That, itself, begs the question: What is innovation, really? explained there is wide variation in the definition of innovation.

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Innovation Compliance Community Bank Strategy 140

PYMNTS

OCTOBER 14, 2019

If a bank flags transactions over a certain limit, for example, a bad actor can easily avoid making transactions that surpass it. AML and the problem of innovation. Starting an innovation battle can be more difficult than expected for banks, in part because of how U.S. financial regulations work.

Strategy 109

Strategy Fraud Innovation Regulation 109

PYMNTS

DECEMBER 18, 2020

The new regulations, if adopted after a comment period, would require banks and some other institutions to obtain and report the identities of parties engaging in certain digital transactions, including payments involving what are called "unhosted wallets" – effectively secret bank accounts that hold cryptocurrency.

Bitcoin 354

Bitcoin US Regulation cryptocurrency 354

PYMNTS

OCTOBER 16, 2019

16), saying, “It’s time for Congress to regulate the industry.”. Why, for example, should a flashlight app have your location data?” There’s no good reason that companies won’t be able to comply with reasonable regulation,” he said. But even in the best of circumstances, that oath is voluntary.”.

Regulation 100

Regulation Data New York Examples 100

PYMNTS

MARCH 21, 2019

Not an entirely surprising fact, given that it is the collision of two highly specialized and extremely regulated worlds. Large providers, drug manufacturers and insurance firms have big innovations that are moving them away from checks. The Foundation For Innovation.

Innovation 152

Innovation Payments Regulation System 152

PYMNTS

APRIL 22, 2020

Global concern over the coronavirus spreading on contaminated surfaces in public places is unleashing rapid development of innovative biometric products that could assist a touchless society. They are also designed to kill the COVID-19 virus with ultraviolet (UV) lighting in the air ducts.

Innovation 209

Innovation New York City System Tools 209

PYMNTS

JUNE 27, 2017

He also offers advice for how to innovate in the field. Here is an excerpt of the conversation: PYMNTS: How would you define your company’s approach to innovation? PYMNTS: Where do you look for innovative ideas, and why? PYMNTS: What is the most innovative thing you’ve ever done? JB: Innovation often means taking a risk.

Innovation 145

Innovation System Mobile Trends 145

PYMNTS

JANUARY 13, 2020

For example, firms are banned from using bots in a way that allows them to buy thousands of tickets for events and then resell them for highly marked-up prices. In other examples, end users must be informed when prices are based on their internet browsing histories. Penalties in the New Year.

Data 131

Data social media Regulation California 131

Accenture

MARCH 23, 2017

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. Regulators have a key role to play, too. Now—what does RegTech mean?

Regulation 150

Regulation Industry Trends Compliance 150

Accenture

MARCH 23, 2017

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. Regulators have a key role to play, too. Now—what does RegTech mean?

Regulation 150

Regulation Industry Trends Compliance 150

PYMNTS

APRIL 11, 2016

Regulating such a fast growing market means some trial and error, however, will be par for the course. In an interview with the Journal, Christopher Woolard, the FCA’ strategy director, said that innovation may have a tradeoff with the key to make sure that consumers are in fact not being “ripped off” – as the publication termed it.

Regulation 100

Regulation Fintech Innovation Course 100

American Banker

MAY 29, 2024

The Securities and Exchange Commission's overly broad expansion of the Dealer Rule is only the latest example of the agency's yearslong effort to stifle innovation in a vibrant and growing industry.

Industry 94

Industry Examples Innovation Security 94

PYMNTS

MARCH 13, 2020

They carry their payment innovation expectations into the business world. “If Providers should consider innovations that fulfill those requirements. Those from Gen Z may be more inclined to manage payments through mobile wallets, for example, although the technology is currently in its early days.

Millennials 160

Millennials Taxes Innovation Operations 160

PYMNTS

JULY 26, 2019

Regardless of how, these technologies and their innovators share common goals: to accelerate and streamline cross border payments. She also pointed to the service’s stop-and-recall, fund confirmation and enterprise resource planning (ERP) integration capabilities as a few examples of enhanced features key to addressing business payment needs.

Innovation 160

Innovation Payments Course System 160

PYMNTS

JULY 30, 2018

For many companies, 2018 is a year of regulatory change: In Canada, for example, there are proposed changes to the Canadian Payments Act that could result in the creation of a non-bank associate member role for Payments Canada. The move is significant, as the only members at the moment are financial institutions (FIs).

Innovation 103

Innovation Payments New York California 103

PYMNTS

DECEMBER 22, 2016

In an interview with Karim Ahmad, TSYS executive vice president of global product and innovation, PYMNTS’ Karen Webster delved into the very nature of change, marking what once might have been a staid industry. I’m a pretty prosaic guy when it comes to … innovation,” said Ahmad.

Innovation 100

Innovation Payments Regulation Industry 100

PYMNTS

JANUARY 21, 2021

In the bid to hasten their digital transformation, when it comes to innovation , financial institutions (FIs) may benefit from an “app store” approach as they weigh existing and new solutions. In a nutshell: If banks don’t innovate in a way that is imaginative and proactive, they will lose customers.

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Management User Experience Innovation Fintech 303

Insights on Business

JULY 31, 2018

IBM RegTech Innovations. We caught up with Peter Chirlian, CEO of Armanta, an IBM Company, to tell us more about Armanta’s innovative approach to aggregation and risk analytics. We caught up with Peter Chirlian, CEO of Armanta, an IBM Company, to tell us more about Armanta’s innovative approach to aggregation and risk analytics.

Innovation 133

Innovation Analysis Analytics Risk Management 133

PYMNTS

JUNE 8, 2016

In a payments landscape that is ever-changing and rapidly growing, having a focus on innovation that takes that same approach is significant. As Peter Read , President of Peoples Card Services , recently pointed out to PYMNTS, needs are never static, and neither should the payments innovation aimed at addressing them.

Innovation 100

Innovation Millennials Cards Fintech 100

Abrigo

MAY 8, 2024

Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. A common example of a generative AI-driven tool that many in the financial services industry are familiar with is ChatGPT, which can produce coherent and diverse texts on various topics. GenAI is seeing varied use cases in banking.

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Examples Fraud Resources Risk Management 222