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

JULY 23, 2020

Regulators in Mexico passed a law governing FinTechs in March 2018, just two months after PSD2 went into effect in the European Union, and others in the region have since followed suit. Brazilian lawmakers have been developing open banking plans since 2019, for example, outlining rough guidelines to be enacted late this year.

America 165

America Regulation Regional Tools 165

PYMNTS

NOVEMBER 4, 2020

regulators have taken a more hands-off approach by issuing non-binding guidelines, thus allowing industry stakeholders to pave the way forward. regulators acknowledge that although there is a market and demand for open banking, the current regulatory structure prioritizes consumer protection.”.

US 171

US Boston Regulation Data 171

PYMNTS

NOVEMBER 1, 2018

Regulations take shape, usually quite a bit more slowly. The Chinese government, as noted in CB Insights and elsewhere at the time, released a set of guidelines geared toward “advancing the healthy development of internet finance” and placing the industry under the purview of the China Banking Regulatory Commission.

Lending 150

Lending Guidelines Fintech Industry 150

PYMNTS

FEBRUARY 3, 2020

This prospective growth can largely be attributed to the Monetary Authority of Singapore (MAS), the region’s main regulator, which announced in June 2018 that it would grant five digital banking licenses to third-party companies. Licenses are not meant as free passes into financial domination in Singapore, after all.

Digital Banking 185

Digital Banking Innovation Maine Regulation 185

PYMNTS

APRIL 16, 2020

Accelerated data sharing has become a focal point for small business lenders and FinTechs looking to speed up the time it takes for SMBs to apply for and receive much-needed funding. This week’s look at the latest in bank-FinTech collaborations and open banking initiatives finds a focus on small business lending: In the U.K.,

Data 167

Data Lending Regional Fintech 167

PYMNTS

JULY 31, 2019

China’s banking regulation is in-flux. As watchdogs ramp up oversight of financial institutions and FinTechs, late last year the China Banking and Insurance Regulatory Commission also announced plans to relax restrictions on foreign ownership of banks operating in the country.

Lending 134

Lending Policies National Guidelines 134

PYMNTS

JANUARY 30, 2019

They face the challenge of offering customers a smooth onboarding process while also remaining rigorous in know your customer (KYC) efforts, taking care to remain compliant with local anti-money laundering (AML) regulations that aim to keep criminals from using legitimate operations to move money illegally. In the U.K.,

How To 170

How To blockchain Compliance Regional 170

PYMNTS

MARCH 8, 2018

The infrastructure will link into 20 banks and eight electronic payment operators, with payers able to use mobile phone numbers or email addresses to make payments in the Hong Kong dollar or renminbi. According to the publication, the HKMA is in the midst of testing various products as part of its FinTech Supervisory Sandbox.

Guidelines 108

Guidelines Payments Fintech blockchain 108

PYMNTS

OCTOBER 8, 2019

That challenge is undoubtedly a major headache for the companies operating in this sector, which are often small businesses. What it could do, however, is open the door for more credit unions, smaller banks and emerging FinTech firms to launch, boosting competition in the sector. ”

Compliance 114

Compliance Guidelines Industry Taxes 114

PYMNTS

MARCH 25, 2019

DNB is responsible for approving PSD2 payment licenses in the Dutch market, so third parties will have to follow their guidelines if they want to continue operating in the region. The country was unenthused, she said, adding that the new PSD2 law is viewed as “a way of regulating activity that is in the market already.”.

Regional 108

Regional Regulation Data Payments 108

PYMNTS

JUNE 15, 2020

Express Company, a joint venture between American Express and LianLian DigiTech, a Chinese FinTech services company, is expected to begin processing transactions later this year. Senate Committee To Consider Telehealth’s Future. Walmart, Shopify And The Shot Across Amazon’s (Marketplace) Bow.

Guidelines 131

Guidelines Payments Digital Banking Company 131

PYMNTS

MARCH 27, 2020

QR codes have enjoyed mounting adoption in the consumer payments landscape around the world in recent years as FinTech solutions embrace end-user efficiency and take advantage of smartphone penetration. Their use for B2B payments, however, remains limited — but in the U.K., open banking may be able to change that. A B2B Opportunity.

Payments 151

Payments Innovation Security Guidelines 151

PYMNTS

MAY 8, 2020

The Administration’s new guidance on the PPP loans issued on April 29 was a nearly 180-degree turn from that which was provided as application guidelines when the program opened its doors on April 3. Around the same time, April 29, Treasury issued new guidelines – and a warning.

Maine 161

Maine Guidelines Capital Fintech 161

Tomorrow's Transactions

DECEMBER 5, 2016

A few years ago, I wrote that when it came to the regulation of payments, America could do worse than adopt something along European lines. Fintech firms that can apply for an OCC charter must offer at least one of three financial services: make loans, pay checks or receive deposits. It’s the right way to go. Consult Hyperion.

Fintech 30

Fintech Regulation Lending System 30

Gonzobanker

APRIL 20, 2020

As banks evolve to a digital-centric operating model, one of the laments Cornerstone often hears from our clients is, “Compliance won’t let us do that.” The reality is that both financial institutions and fintech solutions providers can drive better customer experience and still be compliant in a digital world.

Compliance 78

Compliance Customer Experience Guidelines Technology 78

Insights on Business

OCTOBER 11, 2018

It’s this digital-agility layer that would connect to the internal core systems as well as provide external APIs to connect various fintech solutions and other financial institutions within an open banking platform approach.

Meeting 111

Meeting Customer Experience System Guidelines 111

PYMNTS

JANUARY 15, 2018

For other firms, such as FinTechs or telecommunications companies, “they must coordinate and provide access to multiple different interfaces or protocols.”. Security may be top of mind as the firms seek to comply with the directive (security guidelines have been published by the EBA). Regulation News Closer to Home: The CFPB.

CA 112

CA Bitcoin Data Security 112

PYMNTS

NOVEMBER 9, 2020

In banking, collaboration — between the traditional players like banks and the tech savvy FinTechs bringing a slew of new apps to market — is key. there are indications that the opening of data flows between financial services companies has led to strong innovation (and demand for that innovation), and more regulation may loom.

Fintech 285

Fintech Data Regulation Innovation 285

Abrigo

JUNE 12, 2023

The money transmitter industry is growing, spiked by advances in fintech and the consumer demand for immediate payment mechanisms. Since the passing of this model money transmitter act, many states have introduced or fully adopted these standardized guidelines. alone, handling $6 trillion in payments.

Compliance 195

Compliance Fraud Regulation Guidelines 195

PYMNTS

MAY 1, 2020

Financial institutions (FIs) and regulators in Singapore, the E.U. Regulators may have shifted their focuses away from these initiatives and toward making sure their customers have the financial access they need to survive the pandemic, but the long-term goals of. and the U.S. Similar to the U.K. Similar to the U.K.

Innovation 245

Innovation Regulation Digital Banking Security 245

Banking 2020

MARCH 26, 2015

Furthermore, the CFPB is expected to give clear guidelines on using SMS, email, and social media in debt collections. A clear rule from the CFPB, no matter how restrictive the guidelines may be, means an open race to using digital media and its advantages: real time communication, 24/7 availability, data feedback and more.

Industry 40

Industry Guidelines social media Technology 40

PYMNTS

OCTOBER 6, 2017

Regulators across the globe are looking to ensure that customer and corporate data is secure, and those initiatives include outlining cybersecurity standards for payroll systems. And they have shorter timelines for rolling out operations. They don’t necessarily have a team of people specialized in setting up overseas operations.”.

Marketing 139

Marketing Data Security Regulation 139

PYMNTS

DECEMBER 17, 2019

Open Banking is making its rounds across the globe as regulators embrace financial services industry competition, and as financial services players — both banks and FinTech firms — recognize their market opportunities by embracing data sharing.

Metro 136

Metro Regional Fintech National 136

PYMNTS

MAY 14, 2018

Financial institutions (FIs) that service the industry, she recently told PYMNTS, “don’t have the compliance people, processes or automated tools in place to meet the required guidelines — and are unknowingly putting their clients at risk.”. The guidelines are rigorous and expensive to adhere to,” she said. policymakers in 2014.

Compliance 130

Compliance Guidelines Industry Taxes 130

Tomorrow's Transactions

DECEMBER 19, 2016

The focus on APIs increased through the year and not only for the interfaces to 3rd parties but also as a mechanism for restructuring internal processes and operations. The NIST guideline goes on to talk about using push notifications to applications on smart phones, which is how we think it should be done. We got this one right.

Mobile 30

Mobile Retail Trends Security 30

PYMNTS

DECEMBER 27, 2019

What has to happen now is for all the stakeholders who make up the instant disbursement ecosystem as it stands today — large corporates, financial institutions, FinTech platforms, SMBs and consumers — to work collaboratively to make truly seamless and secure instant payments experiences across verticals and use cases a reality in the next decade.

Payments 131

Payments Maine Innovation How To 131

FICO

DECEMBER 9, 2019

Drastic changes in creditor’s operating models will help debtors — in some places. In highly regulated countries, like the UK, these changes should be a positive experience for people in debt. Where financial services is not so regulated, these changes will be a challenge. The wider outlook — uncertainty.

Analytics 52

Analytics Regional Strategy Regulation 52

Tomorrow's Transactions

JULY 13, 2016

There’s a permissioned shared ledger that is maintained by, amongst others, the airline itself, the 17 creditor banks and the airline industry regulator. But even if they were, then under warrant the regulator and law enforcement agencies would be able obtain the escrowed transaction keys needed to decrypt transactions of interest.

blockchain 30

blockchain Examples Guidelines System 30

Fintech Labs Insights

JULY 7, 2016

Accredited investors can invest in single company funds, syndicated funds, and portfolio funds while non-accredited investors can participate in national deals that fall under Regulation D of the JOBS Act. Traditional bank underwriting for portfolio holders of operating franchise units is broken (i.e., Franchisor. Franchisees.

United States 15

United States Guidelines Branding Big Data 15

PYMNTS

APRIL 19, 2016

However, all of what’s transpired over the last year may be the warm up act for the drubbing that it may face over its widely anticipated regulatory guidelines for short-term lenders. It’s been a dramatic 12 months for the CFPB. There were the hearings earlier this year in the House that devolved pretty quickly into dueling insults.

Lending 100

Lending Survey Community Guidelines 100

PYMNTS

JUNE 18, 2019

They are being asked to contribute their collective experiences in operating global, regulated payments and financial services networks to shape Libra’s charter and frame its governance structure. At some point, they will be asked to kick in few bucks to fund its operation and get it off the ground. I have no doubt they are. “At

Payments 246

Payments Regulation blockchain cryptocurrency 246

PYMNTS

NOVEMBER 20, 2020

operations should be examined on antitrust concerns. Separately, Senator Elizabeth Warren last month wrote a letter to the Department of Justice urging an examination and strengthening of bank merger review guidelines. Banks, especially, are in the midst of fine-tuning operations as the great digital shift continues.

California 283

California Regional Google Guidelines 283