PYMNTS

DECEMBER 27, 2020

Financial regulators in China are moving to curb the influence of Jack Ma 's Ant Group by telling it to switch focus back to its mainstay payments business while fixing issues in personal lending, wealth management and more, The Wall Street Journal (WSJ) reports. The People's Bank of China criticized Ant on Sunday (Dec.

Groups 225

Groups Regulation Payments Lending 225

PYMNTS

OCTOBER 22, 2020

Ant Group has won the nod from China's top security regulators for its Shanghai offering, the last hurdle to clear for the $35 billion dual listing, Reuters reports. In September , Shanghai regulators approved the listing. The Hong Kong sale is being managed China International Capital Corp. , Citigroup , J.P.

Groups 175

Groups Capital Regulation Fintech 175

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

Perficient

APRIL 2, 2021

The agencies collectively announced a request for information (RFI) to gain input from stakeholders including financial institutions, trade associations, and consumer groups. Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. Risk Management.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

DECEMBER 2, 2020

China’s Ant Group, which owns the widely used Alipay payments app, is looking at selling its 30 percent stake in India’s Paytm as friction between the two countries grows, sources told Reuters. Reuters said Paytm, which is partly backed by Japan’s SoftBank Group Corp., Like Alipay, Paytm is a digital payments platform.

Groups 179

Groups Report Regulation Fintech 179

PYMNTS

JUNE 25, 2020

In today’s top news, Wirecard files for insolvency, and New York proposes easing regulations for cryptocurrency licenses. New York To Ease Cryptocurrency Regulations. Plus, California seeks a court order to make Uber and Lyft classify drivers as employees. Wirecard Files For Insolvency, Seeks Court Protection.

New York 248

New York cryptocurrency Regulation Samsung 248

Cisco

JUNE 7, 2022

It also put an even greater emphasis on cyber risk management within institutions and financial regulatory agencies. Ransomware groups will continue to professionalize. Regulators will tighten the reins. Regulatory Agencies Step Up. Cyber risk is the largest and fastest growing operational risk within financial services.

Risk Management 118

Risk Management Management Cyber Security Handbook 118

PYMNTS

NOVEMBER 21, 2019

A group of senators have introduced a bill that would classify Facebook’s proposed cryptocurrency Libra as a security under the law, according to a report by CNBC. The bill is called the “Managed Stablecoins are Securities Act of 2019” and was proposed by two members of the House Financial Services Committee, Reps.

Security 136

Security cryptocurrency Bitcoin Regulation 136

PYMNTS

OCTOBER 22, 2020

In today’s top payments news around the world, Swedish peer-to-peer (P2P) lending upstart Lendify has reportedly secured $115 million of funding, while international trade platform Contour has teamed with information technology (IT) solutions firm Mphasis. Ant Group Moves Ahead With $35B IPO After China's OK. Morgan Stanley and J.P.

Security 134

Security Groups Payments Regulation 134

PYMNTS

JUNE 14, 2019

But despite intelligence of things (IoT) solutions being put to use in many cases, the field continues to be hampered by security issues. The June IoT Tracker explores the latest advancements in IoT security and new applications of smart technology. New security threats are emerging, too. Get the full scoop in the Tracker.

Regulation 161

Regulation Security Technology Survey 161

PYMNTS

NOVEMBER 18, 2018

Japan’s Financial Services Agency (FSA) had a plan for crypto wallet service regulation on its meeting agenda for a recent gathering of its crypto study group, bitcoin.com reported. Instead, these providers transfer and manage digital currencies.

Bitcoin 174

Bitcoin Regulation cryptocurrency Security 174

PYMNTS

NOVEMBER 22, 2019

Ongoing security concerns have prompted the Federal Reserve to further scrutinize big tech firms that serve the banking industry, The Wall Street Journal (WSJ) reported on Thursday (Nov. Can we look at their overall compliance management program?”. 21), citing a senior official. The Annual Conference held Nov.

Security 116

Security Policies Conference Compliance 116

PYMNTS

JUNE 3, 2020

Although that would cover around 85 percent of the loans, it would only cover about 26 percent of PPP loan dollars, the two groups said. The Consumer Bankers Association and Bank Policy Institute , in a co-signed letter , have called on Congress to automatically forgive Paycheck Protection Program (PPP) loans under $150,000.

Groups 148

Groups Analysis Policies Resources 148

PYMNTS

MARCH 16, 2018

Through the collaborative efforts of those with backgrounds in payments and security, the Federal Reserve’s Secure Payments Task Force has published “Payment Lifecycles and Security Profiles.” They also cover security methods — and identity management controls — along with relevant laws and regulations, among other topics.

Security 100

Security Payments Boston Fraud 100

PYMNTS

MARCH 24, 2019

Australia is including an additional $390 million in its new budget to boost its financial regulation sector, according to Reuters. A strong economy requires a strong, accountable financial sector that Australians can trust,” Treasurer Josh Frydenberg said in a statement.

Regulation 111

Regulation National Report Groups 111

Perficient

AUGUST 16, 2023

In 2011, Hanes put together a local investment group that purchased the bank from its former holding company, and he became President and CEO of the new bank. Bank Closed By Regulators Almost all bank closures happen on a Friday so that regulators can work all weekend to reopen the bank on Monday.

United States 221

United States Kansas FDIC Risk Management 221

PYMNTS

NOVEMBER 16, 2020

FinTech with a focus on small businesses secures a restricted banking license. Ordway , which works in billing and revenue automation for scaling companies, will offer SMBs multi-entity billing and revenue management support, according to a press release. Fiskl, Samsung Appstack Team On Finance Management For SMBs.

Security 141

Security Samsung Resources Management 141

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

Insights on Business

FEBRUARY 13, 2019

Gary Meshell, WW Leader Financial Services, IBM Security, opened his IBM Think 2019 talk, How Financial Services Companies Should Respond to Cyber Security Attacks with a bold assertion and truism. IBM and TD Bank jointly developed cyber security incident response solution for the financial services industry. Have a plan.

Cyber Security 137

Cyber Security Security Exercises social media 137

Perficient

JUNE 5, 2020

Secure software practices are at the heart of all system development; doubly so for highly regulated industries such as health-care providers. As a best-practice it is recommended to adopt automation of certain security audits, integration of compliance oversight into key development process areas (e.g. Source Code Analysis.

Compliance 332

Compliance Security Software System 332

PYMNTS

JULY 2, 2018

Despite a regulation crackdown and other issues, investors have continued to fund cryptocurrency startups in 2018, with ICOs raising $11.8 This year’s surge comes as ICOs have faced stricter scrutiny from regulators like the U.S. This year’s surge comes as ICOs have faced stricter scrutiny from regulators like the U.S.

Regulation 101

Regulation cryptocurrency Fraud Analysis 101

PYMNTS

OCTOBER 13, 2020

Ant Group , a China-based payments platform, is facing regulatory delays in its highly-anticipated initial public offering (IPO) amid growing unease over its handling of its share sale, the Financial Times (FT) reported. The newly established mutual funds that participated in Ant Group’s IPO as strategic investors … ?have

Regulation 150

Regulation Management Groups Security 150

PYMNTS

NOVEMBER 3, 2020

ZenGo said the card will be the first card connected to a “self-hosted, on-chain, multi-currency wallet" in which the user manages the funds. On another note, the government in Hong Kong is looking to modify the regulations for digital currency trading companies running or providing offerings in the area in the city, Coindesk reported.

blockchain 167

blockchain Bitcoin Cards United States 167

PYMNTS

JUNE 24, 2020

Zopa received those funds from a group linked to IAG Capital Partners, a U.S.-based In December, PYMNTS reported Zopa expected to receive £130 million ($1.67 million) to become a challenger bank. The news of the funding it had struggled for came days before its conditional banking license was set to expire. based fund, and its U.K.

Security 215

Security Capital Cards Report 215

PYMNTS

NOVEMBER 7, 2016

Last week, the Fed’s Secure Payments Task Force called for comment from industry stakeholders about what challenges they face when it comes to payments security. “The Secure Payments Task Force is particularly interested in understanding any barriers that may exist to implementing the planned solutions.”

Security 193

Security Payments Survey Innovation 193

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

PYMNTS

DECEMBER 28, 2020

Recent regulatory crackdowns on Ant Group, Alibaba and Tencent show that China’s former tech darlings have run afoul with all-powerful political and regulatory regime in China. Reuters quoted Ant as saying in a statement that it would establish a “rectification” working group and fully implement the government’s requirements.

US 168

US Regulation Groups System 168

PYMNTS

DECEMBER 29, 2020

Jack Ma’s Ant Group is considering moving all of its financial services units to a separate holding company that would be regulated like a bank, Reuters reported on Tuesday (Dec. The regulators also criticized the company for how it treated its rivals and its customers. 29), citing sources.

Company 164

Company Lending Regulation Groups 164

South State Correspondent

APRIL 10, 2023

Nonetheless, with the recent collapse of sizeable regional banks, regulators, investors, analysts, accountants, and bankers are now scrutinizing the fair value of banks’ securities and loan portfolios. Fair Value of Loans The fair value of securities has made recent headlines with a focus on regulators, legislators, and bankers.

Community Bank 195

Community Bank Community Security Capital 195

PYMNTS

OCTOBER 3, 2019

Today in the payments news roundup, FinTech startup Brex is launching a business cash management account to take the place of traditional business bank accounts. Brex is rolling out a business cash management account to take the place of traditional business bank accounts. Malaysia Regulators Want To Slap Grab With $20M Fine.

Management 108

Management Fraud Payments Boston 108

Abrigo

JANUARY 3, 2024

Treasury’s Financial Crimes Enforcement Network (FinCEN) recently issued a new regulation on the requirements, including how AML staff will access the information through a new federal beneficial ownership information (BOI) registry. Financial institutions will be the last group to gain access, and the timeline is undetermined.

Fraud 221

Fraud Regulation Report Compliance 221

PYMNTS

FEBRUARY 15, 2018

He said that in his own state of Washington, state regulators have been looking at those issues for some time to determine the possibility of some sort of reciprocity or sharing of information. “It The pilot being run with those initial seven states will provide some answers for how state regulators can streamline the process.

Washington 101

Washington Regulation Conference Fintech 101

PYMNTS

JANUARY 18, 2022

The CEO and CFO of the BitMEX cryptocurrency derivatives exchange announced today that they have reached an agreement to purchase a 268-year-old German bank in order to establish “a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland.”. Regulated” is a word Höptner returned to repeatedly in the announcement.

Regulation 169

Regulation cryptocurrency Groups Innovation 169

CFPB Monitor

JANUARY 9, 2020

The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR cessation and transition risk.” (LIBOR is the acronym for the London Inter-Bank Offered Rate.).

Regulation 78

Regulation New York Management Taxes 78

Abrigo

JANUARY 24, 2024

The service also plans to continue working internally with financial institutions to improve the ability of staff tied to anti-money laundering/countering the financing of terrorism (AML/CFT) and fraud efforts to: Prevent a fraudulent event Detect and stop one in progress Manage or mitigate an event that has occurred.

Fraud 221

Fraud Payments Software Policies 221

PYMNTS

NOVEMBER 2, 2020

The People’s Bank of China (PBOC) and regulators from three Chinese agencies are interviewing Ant Group Founder Jack Ma, Chairman Eric Jing, and CEO Simon Hu about the upcoming $37 billion initial public offering (IPO), according to a Financial Times report on Monday (Nov. Shares are scheduled to begin trading on Thursday (Nov.

Groups 131

Groups Regulation Financial Technology Report 131

PYMNTS

MARCH 26, 2018

Wells Fargo, weeks after it was hit with a rare enforcement action from the Federal Reserve, is overhauling its risk management processes and announced internally that four top risk management executives would be retiring. Some roles and responsibilities of executives and groups within the organization were also changed.

Risk Management 100

Risk Management Management Compliance Groups 100