CFPB Monitor

SEPTEMBER 8, 2022

Since the beginning of Michael Hsu’s tenure as Acting Comptroller of the Currency, bank/fintech partnerships have been a focus of OCC concern. Mr. Hsu also raised concerns about unknown risks or “nasty surprises” arising out of bank-fintech arrangements.

Fintech 146

Fintech Risk Management Conference Lending 146

Abrigo

DECEMBER 17, 2021

Components of an effective fintech partnership If leveraging new technology is a priority for your FI, ensure these three elements are present for an effective fintech partnership. . Takeaway 2 When evaluating a fintech partnership, ask how the vendor will help with integration, training, and ongoing success.

Fintech 195

Fintech How To Innovation System 195

Bobsguide

SEPTEMBER 29, 2017

The financial industry continues to shift at a fast pace, impacted by disruptive fintech and regtech, as well as new complex global regulations and a diversified challenging business environment. As a result the costs associated with complying with financial compliance and risk mitigation are.

Risk Management 123

Risk Management Management Compliance Regulation 123

Insights on Business

JANUARY 8, 2019

But what has this got to do with risk management I hear you ask? The regulations now being imposed on banks by the regulations demand a significant increase in the number of simulations. The more complicated technical term is superposition, but let’s not worry about it at this stage.

Risk Management 107

Risk Management Management Course Big Data 107

PYMNTS

APRIL 16, 2019

Cross-border FinTech efforts have seen increasing participation from central banks and monetary authorities. The MOU dictates that the banks will train FinTech startups with an eye on cross-border transactions. The Fed And FinTech Firms. Separately, in India, API infrastructure firm Setu said last week that it had raised $3.5

Fintech 211

Fintech San Francisco National Innovation 211

Insights on Business

JULY 30, 2019

The offering is built on the IBM Workspace Analyzer platform, an in-memory platform that aggregates and manages data across multiple sources in real-time. Explore these ideas in more depth in the IBM white paper A new era of technology-enabled financial risk management. Waiting will not work.

Risk Management 70

Risk Management Analytics Technology Management 70

Gonzobanker

NOVEMBER 22, 2022

Well, Gonzobankers, the smart, idealist and self-declared revolutionary crypto kids just bought themselves a future of regulation — intricate, overbearing, and frustrating regulation, and regulation that the market will now demand. Welcome to adulthood, y’all. Wonderful” O’ Leary, and of course Tom and Gisele. What’s Next?

Regulation 178

Regulation blockchain Marketing Strategy 178

PYMNTS

SEPTEMBER 29, 2017

Banks are finding it more difficult than ever to ignore potential FinTech partnerships that could better serve their corporate customers. When it comes to corporate treasury, business clients demand robust solutions and services from their banks, and FinTech players are stepping in to help. Managing Risk.

Fintech 141

Fintech Risk Management Compliance Management 141

PYMNTS

JANUARY 15, 2019

As FinTechs eye growth, and look to gain scale by providing more “mainstream” financial services, might those plans hit a speed bump when it comes to the infrastructure needed to bring products to the masses? As has been reported, the regulators include the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp.,

Fintech 148

Fintech St. Louis System Regulation 148

Abrigo

APRIL 19, 2016

In a recent whitepaper (download), the regulator outlined the general approach it will take as it evaluates innovative products, services and processes that OCC-regulated banks may offer or perform. Specifically, he said this means: • The bank understands the product and the risks it carries. • Collaborate with other regulators.

Innovation 150

Innovation Fintech Risk Management Community Bank 150

PYMNTS

JULY 19, 2018

It’s no secret that banks and FinTechs are collaborating at a rate faster than ever before. The need is there for a comprehensive approach for risk management, which in turn means that both FinTechs and FIs need a strong, consistent strategy and roadmap from the very start of collaborations.

Fintech 107

Fintech Risk Management Big Data Management 107

Abrigo

SEPTEMBER 11, 2023

Takeaway 2 AI can lead to more accurate and consistent outputs or predictions, better risk management, and improved customer experiences. But the real lifestyle upgrade came when you had fintechs like Xoom and PayPal that made payments happen in near real-time. Let us step back in time and look at the last 50 years.

Risk Management 195

Risk Management Data Technology Fintech 195

PYMNTS

JANUARY 26, 2021

In other news, European FinTech SIA is partnering with WizKey to create a platform to allow credit negotiations on blockchain for banks, financial operators and funds, according to a press release.

blockchain 244

blockchain Guidelines cryptocurrency Marketing 244

PYMNTS

NOVEMBER 12, 2020

Visa Unveils FinTech Partnership Program In Europe. FinTech Partner Connect will “support new ways for businesses and consumers to seamlessly and securely pay, get paid, send money and more,” according to a representative for the company in an email announcing the effort. Plus, Railsbank has closed a $37 million funding deal.

Payments 142

Payments Fintech Exercises Risk Management 142

PYMNTS

FEBRUARY 15, 2018

Through the Conference of State Bank Supervisors, Georgia, Illinois, Kansas, Massachusetts, Texas, Tennessee and Washington are looking to standardize the ways firms across traditional financial services and FinTech upstarts apply for, and are granted, licenses. That comes as Open Banking bowed in Europe last month.

Washington 101

Washington Regulation Conference Fintech 101

PYMNTS

JUNE 5, 2020

Open banking provides opportunities such as upgraded customer convenience and customized financial solutions that can help consumers access bank account details, send payments, manage their budgets and more. We need to manage risk appropriately, but open banking is a good thing,” Davies said.

Security 174

Security Fintech Data Fraud 174

CFPB Monitor

AUGUST 31, 2021

The OCC, FDIC, and Federal Reserve Board have issued a guide that is intended to assist community banks in conducting due diligence when considering relationships with financial technology (fintech) companies (Guide). Risk management policies, processes, and controls. Legal and regulatory compliance.

Community Bank 78

Community Bank Community Fintech Company 78

Gonzobanker

JUNE 14, 2023

To realize the rewards of the BaaS industry, banks and fintechs are going to have to learn to play by some non-negotiable rules – together. It has more than 80 fintech partnerships including Coinbase, Upgrade, Affirm, Best Egg, Divvy, Rocket Loans and Stripe. And regulators have made it clear that ignorance of the law is no excuse.

Compliance 109

Compliance FDIC Strategy Fintech 109

PYMNTS

MAY 29, 2019

Reports in Reuters on Tuesday (May 28) said UBS expects its regulatory costs to remain high in the years ahead after a decade of more stringent regulations leading to heavier, more costly burdens on banks. “That has tied up enormous resources.” “Why is this so significant? .”

Regulation 108

Regulation Compliance Capital Resources 108

Gonzobanker

FEBRUARY 23, 2022

In this emerging landscape, financial institutions, often community banks, frequently “rent” their charter to financial technology firms (fintechs) that serve a specific consumer group as a means to grow non-interest income. infrastructure and the capacity to manage a BaaS strategy to significantly complement the core business.

Community Bank 133

Community Bank Strategy Risk Management Fintech 133

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. Generative AI: Traditional AI was ever-present in touted solutions regarding fraud, risk management, and the customer experience.

Conference 221

Conference Las Vegas Fraud Case Study 221

American Banker

DECEMBER 6, 2023

The OCC advises banks to implement robust risk management strategies for BNPL lending, emphasizing transparent loan terms, fraud mitigation and compliance with consumer protection laws.

Management 36

Management Risk Management Compliance Lending 36

ABA Community Banking

MARCH 20, 2019

49 percent of the global companies interviewed had been victims of fraud or economic crime Compliance Risk Management Tech Management Security Feature3 Fintech Technology Online Compliance Management Compliance/Regulatory Cyberfraud/ID Theft AML & Fraud Feature BSA/AML.

Meeting 72

Meeting Regulation Risk Management Compliance 72

Bobsguide

MARCH 21, 2022

Best Middle-Office Solution: CompatibL Risk Platform. FinTech Person of the Year: Alexander Sokol, CompatibL. Software Solution of the Year: CompatibL Risk Platform. CompatibL is proud to have been nominated in the following categories in this year’s FTF News Technology Innovation Awards: 5.Best

Innovation 147

Innovation Technology Risk Management Analytics 147

PYMNTS

MARCH 12, 2020

Open banking and bank-FinTech collaboration can be an effective way for financial institutions (FIs) to launch new digital products. This week, Bectran, which provides a B2B credit management solution, announced enhancements to its Cash Application automation capabilities. Equiniti Eyes APIs for Risk Management.

Lending 194

Lending Risk Management Fintech Community 194

PYMNTS

MARCH 17, 2017

Those market conditions present interesting obstacles and opportunities for everyone in the banking FinTech space. Reports last week said the merger aims to create a FinTech “powerhouse” as both Misys and D+H evolve their services to meet the more sophisticated demands of the industry. The company will merge with DH Corp.,

Fintech 195

Fintech Innovation Lending Management 195

PYMNTS

SEPTEMBER 25, 2019

Regulators the world over are beginning to take a closer look at the alternative and marketplace lending business model. However, there is a range of other areas of noncompliance risk for these businesses. Which brought Wales to the final major challenge industry players face in the compliance realm: data management.

Compliance 117

Compliance Risk Management Lending Regulation 117

PYMNTS

JULY 22, 2016

It’s even more surprising given that 2016 could be the year that regulation begins to really kick in for these lenders — in the U.S., Investors seem confident in the industry’s startups and their ability to provide adequate risk management and underwriting for their loans; VCs provided more than $11.5 ezyCollect.

Lending 100

Lending Regulation Big Data Risk Management 100

PYMNTS

MAY 22, 2018

At the top of the list, according to reports, is incoming FinTech disruption, legislation like PSD2, market shifts stemming from Brexit and more. Among the speakers was Graham Taylor, Vodafone’s assistant treasurer, who emphasized the potential for PSD2 regulations to have a profound impact on corporate cash management and payments.

Fintech 122

Fintech Conference Survey Management 122

CFPB Monitor

MAY 18, 2021

Access to Fed services is sought by fintechs and other non-traditional financial services companies because a Fed account, and direct access to Fed financial services, would dispense with the need for the non-bank to use a traditional bank as an intermediary with the Fed. payments, deposit-taking, and lending).

Fintech 78

Fintech Guidelines Policies System 78

Insights on Business

MARCH 15, 2019

Compliance, legal and risk professionals are looking for an end-to-end frame­work to manage compliance requirements in a way that improves overall governance, risk and compliance (GRC) program effectiveness. The strategies and practices to implement compliance obligations management enterprise-wide. March 28, 2019.

Compliance 87

Compliance Management DC Washington 87

PYMNTS

JULY 5, 2018

The vast majority of traditional financial institutions (FIs) plan to increase their collaborative efforts with the FinTech world, according to a PwC report published last year. The two-sided benefits of a bank-FinTech collaboration are certainly beneficial to FinTech firms like additiv.

Compliance 109

Compliance Fintech Marketing Security 109

PYMNTS

MAY 28, 2018

It’s not exactly dogs and cats living together in harmony, but FinTechs and banks — the upstarts and the traditionalists — are certainly cozying up, a trend that looks certain to continue. The deal is newsworthy because the mainstream view still sees banks and FinTechs as adversaries, each competing for payment and financial services revenue.

Fintech 100

Fintech Examples Pennsylvania Lending 100

American Banker

MARCH 4, 2020

Compliance, risk management and staffing will likely come under added scrutiny as regulators lay out a framework for future fintech-bank mergers.

Risk Management 67

Risk Management Compliance Regulation Fintech 67

CFPB Monitor

AUGUST 1, 2022

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space. It also solicits feedback on how to maximize stakeholder engagement.

Financial Technology 78

Financial Technology Technology Fintech Compliance 78

PYMNTS

NOVEMBER 30, 2020

As criminals relentlessly target financial systems, organizations require cutting-edge technology for fraud detection and risk management,” said Kurt Guenther , CSI’s group president of business solutions. “By Headquartered in Kentucky, CSI works with financial institutions (FIs) across the country to provide FinTech solutions.

Kentucky 159

Kentucky Fraud Risk Management Analytics 159

ABA Community Banking

MAY 19, 2016

How this technology will be regulated may determine where fintech firms take root Technology Risk Management Operational Risk Fintech.

Regulation 40

Regulation Innovation blockchain Risk Management 40