EWA shouldn’t be regulated like loans
Payments Dive
APRIL 5, 2024
“Attempts to regulate EWA as credit threaten worker access to this innovative and consumer-friendly financial tool,” writes one earned wage access industry CEO.
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Payments Dive
APRIL 5, 2024
“Attempts to regulate EWA as credit threaten worker access to this innovative and consumer-friendly financial tool,” writes one earned wage access industry CEO.
Perficient
NOVEMBER 27, 2023
In the dynamic environment of highly regulated industries like healthcare and financial services, leaders often balance competing goals to delight customers while cutting costs. An ideal solution combines top-performing analysts with innovative AI. This blog was co-authored by Carl Aridas and Joel Thimsen.
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Perficient
DECEMBER 18, 2023
Legal Obligations and Regulatory Frameworks It is well-known that financial institutions operate within a complex web of laws and regulations. Reputation Management Trust is the cornerstone of the financial industry. The Role of Regulatory Risk and Compliance 1.
Perficient
FEBRUARY 29, 2024
This blog was co-authored by Perficient’s Chief Strategist and banking expert: Scott Albahary A slowing global economy, coupled with a divergent economic landscape, poses challenges for the banking industry in 2024. Explore and integrate alternative data sources and innovative scoring models to offer fairer assessments of creditworthiness.
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As we step into 2024, the lending landscape evolves rapidly with technology, regulations, and market dynamics driving change. Innovations in AI, alternative lending platforms, personalized experiences, and sustainable lending practices are just a few of the areas set to redefine the industry.
Bank Innovation
JULY 4, 2019
The Office of the Comptroller of the Currency (OCC) is pushing ahead with its Innovation Pilot Program, a mechanism that will allow regulators to work with financial services companies as new products are being developed.
Bank Innovation
JANUARY 6, 2017
Professionals in the financial services industry are focusing their energy on regulation and data management, according to a survey from consulting firm and technology services provider Synechron.
American Banker
JUNE 12, 2023
and Canada don't develop a coherent framework for regulating the industry, North America risks broader losses to other growing industries, like fintech and artificial intelligence. If the U.S.
Bank Innovation
DECEMBER 18, 2018
A majority of Bank Innovation readers do not believe the results of the November midterm elections will have any impact on regulation pertaining to the fintech industry.
Chris Skinner
JANUARY 14, 2018
The moderator first of all asked: Do you believe that the regulators are in the incumbent’s pockets and protect the industry from new competition? You may find it gratifying that most of … The post Innovation with compliance is difficult appeared first on Chris Skinner's blog.
Payments Source
AUGUST 26, 2020
Close collaboration between leading payment innovators and regulators could help regulators better understand the direction the industry is headed, says Arkose Labs' Vanita Pandey.
PYMNTS
JANUARY 1, 2021
If 2020 was the year of streaming media, of content done a million different ways, of apps and Apple, and Google’s and Amazon’s algorithms … it was also the year of Big Tech regulation, where 2020 set the stage for a 2021 that could be seismic in changing the way companies — from Facebook to Apple to debt collectors — interact with consumers.
Bank Innovation
JANUARY 18, 2018
While regulations continue to be top of mind for financial institutions, banks have another main concern: the innovations and progress being made by fintechs, according to a survey released by EY.
Perficient
FEBRUARY 10, 2021
The pandemic has presented a variety of industries with new challenges in the digital realm, but the healthcare industry is experiencing the most urgent need for rapid digital reinvention. While the healthcare industry has long embraced technology, the demand to innovate and adapt quickly has grown exponentially in 2020 and into 2021.
Insights on Business
OCTOBER 3, 2018
IBM RegTech Innovations. Advances in artificial intelligence (AI), blockchain, and cybersecurity are poised to transform the financial services industries. Innovations like pervasive encryption and secure service containers extend IBM Z leadership in cybersecurity, which is why it runs IBM’s blockchain network.
PYMNTS
JUNE 25, 2020
It will be easier for New York cryptocurrency businesses to launch in New York, thanks to a plan by regulators that would ease licensing rules. This MOU with SUNY is a strategic step to diversify and deepen the next wave of innovators in the virtual currency space in New York,” said Lacewell in a statement.
PYMNTS
OCTOBER 8, 2020
As cloud technologies emerge to help financial institutions (FIs) drive digital innovation, Finastra has introduced its Fusion Payments To Go offering for small and medium-sized banks. In addition, Monese adopted Thought Machine’s cloud banking platform. Fusion Reveals Payments Platform Banks. Europe and South Africa.
PYMNTS
NOVEMBER 4, 2020
Trade finance players, including corporates, banks and regulators, are finally ready to embrace modernization and technology. As a highly regulated area of financial services, trade finance has struggled to enter the digital age. Previously, regulation was very slow in adapting and approving of different technology," he said.
Abrigo
FEBRUARY 27, 2020
Key Takeaways FinCEN hires Digital Innovation Officer to prove commitment to innovation in BSA/AML. Abrigo embraces innovation with the introduction of artificial intelligence scenarios. Our Transparent AI is easy to explain to regulators. . Abrigo Embraces Innovation with Machine Learning Scenarios. learn more.
Chris Skinner
APRIL 6, 2017
I was listening to a financier talking about FinTech the other day, and claiming that they are all sustaining innovations and not disruptive. They were referring to Clayton Christensen’s innovator’s dilemma discussions, where Professor Christensen points to different markets that were destroyed by disruptors.
PYMNTS
OCTOBER 12, 2020
No matter how innovative they are, companies still need to get paid. And not many companies this year have combined business model creativity with payments innovation more than Beautycounter. While all the innovations and the business awards are nice to have, Renfrew is most proud of her work as a beauty industry activist.
Bobsguide
MARCH 21, 2022
CompatibL is proud to have been nominated in the following categories in this year’s FTF News Technology Innovation Awards: 5.Best CompatibL is proud to have been nominated in the following categories in this year’s FTF News Technology Innovation Awards: 5.Best These awards will be decided by an industry-wide vote.
PYMNTS
AUGUST 6, 2020
The payments-as-a-service (PaaS) industry is projected to reach $16.7 New technologies and API infrastructures are also leading to rapid innovations in the PaaS space, including quicker payments than ever before. Artificial intelligence (AI) is also driving payments innovations, with a study finding that it could add $1.2
PYMNTS
NOVEMBER 13, 2020
But in the alcohol beverage arena, unique regulations — many of which date back to the era of prohibition — have added an extra layer of complexity to the supply chain. Despite a growing community of FinTech solutions geared toward the industry, managing invoices and B2B payments remains a challenge. Navigating B2B Payments Compliance.
PYMNTS
DECEMBER 9, 2020
It’s just the latest in a series of mega-mergers seen throughout the industry. Lukies said consolidation in the payments industry has been the tendency for the past six decades. All of these new FinTechs and digital innovators are changing the landscape as the role of payments rapidly shifts in the broader financial services arena.
PYMNTS
NOVEMBER 26, 2019
In recent years, the market has gone from one struggling with high financial illiteracy and limited card acceptance, to a bright spot in Europe for FinTech innovation. Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment. But financial regulatory compliance can be a headache for any market.
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. Now—what does RegTech mean? RegTech means… RegTech!
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. Now—what does RegTech mean? RegTech means… RegTech!
Independent Banker
OCTOBER 31, 2021
Community banks are independent institutions fueled by the needs of their individual communities, so what constitutes innovation will look and feel different for every bank. As the popular saying goes, “Creativity is intelligence having fun”—and the same can be said for innovation.
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. What’s Next? But please, don’t get cocky.
PYMNTS
JULY 28, 2020
The hearing is expected to look at how those companies’ influence could stifle innovation and establish something close to a monopoly. ” “At Facebook, we compete hard because we’re up against other smart and innovative companies that are determined to win,” he says, according to the transcript.
Cisco
DECEMBER 13, 2022
There is pressure from shareholders, consumers, employees, and regulators for organizations to move towards a more sustainable future, and to set ambitious greenhouse gas (GHG) emissions reduction goals. Through this key partnership we are developing innovative next generation smart buildings and electric vehicle infrastructure technologies.
PYMNTS
MAY 27, 2020
The COVID-19 pandemic is accelerating the pace of digital innovation across the financial sector, and credit unions (CUs) are no exception. Many CUs are investing heavily in new digital technologies to help serve their members during the COVID-19 pandemic, but not all innovations are successful. About The Tracker.
PYMNTS
FEBRUARY 25, 2019
As regulators overseeing non-banks, our goals are clear: Ensure the safety and soundness of the financial system, protect consumers and streamline the multistate experience,” said Mark Quandahl, chairman of the CSBS Emerging Payments & Innovation Task Force, in a statement.
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 “.
ABA Community Banking
DECEMBER 15, 2020
As community banks continue to innovate—a task that has only become more important since the COVID-19 pandemic began—regulators play two key roles in that process, ABA President and CEO Rob Nichols said during a virtual industry event today.
PYMNTS
FEBRUARY 16, 2017
According to Bloomberg , the Monetary Authority of Singapore published a new consultation paper that revealed new and existing venture capitalists will no longer be subject to the same rules that apply to fund managers overall, including capital requirements and business conduct regulations.
PYMNTS
OCTOBER 25, 2019
The Commodity Futures Trading Commission ( CFTC ), Federal Deposit Insurance Corporation ( FDIC ), Office of the Comptroller of the Currency ( OCC ), and the Securities and Exchange Commission ( SEC ) have announced that they are joining the Global Financial Innovation Network ( GFIN ). Colorado’s bill does have support from some lawmakers.
PYMNTS
MAY 29, 2017
FinTech has no doubt changed the face of the financial services industry in the U.S., but experts are beginning to question how it will impact regulation. Reports in Reuters on Friday (May 26) explored how industry players are examining the future of financial regulation as FinTech continues its disruption.
PYMNTS
JULY 31, 2020
The People’s Bank of China, the nation’s central bank that regulates financial institutions, has alleged the digital payment companies have used their strong positions to crush competition, sources told the news service. China’s eCommerce superstore, and WeChat Pay, a division of Tencent Holdings Ltd., Reuters reported.
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. That doesn’t mean these companies have the ability to easily adopt the same payments solutions that businesses in other industries can access.
PYMNTS
MARCH 25, 2020
Retailers are finding success in the complex, highly regulated wine industry , and are looking to top off loyalty as coronavirus orders flow. Wine Insiders , in one case, has combined edgy technology and innovations, and supplemented traditional marketing channels with digital advertising.
PYMNTS
JANUARY 25, 2021
Jonathan Hughes, co-founder and CEO of Pollinate , shares his thoughts on why, and how, the payments industry must support the small businesses coming out of the crisis. The good news is that throughout 2020, the payments industry has been rapidly innovating and seeking to simplify and automate processes for merchants and consumers alike.
PYMNTS
MARCH 2, 2020
It’s really difficult, the banking ecosystem is not fast and that’s just reality,” Jim McCarthy, industry expert and former innovation head for Visa, told Karen Webster in a recent conversation. The Headwinds Creating The Innovations Gap . According to the latest edition of the Innovation Readiness report, only 22.3
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