Perficient

APRIL 2, 2021

The RFI also solicits the industry’s views on the use of AI in financial services to assist in determining whether any clarifications from the agencies would be helpful for the use of AI in a safe and sound manner. Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection.

Regulation 309

Regulation Industry Risk Management Analysis 309

Abrigo

JULY 27, 2023

Takeaway 1 Regtech uses new technologies such as AI and machine learning to streamline processes that keep organizations compliant. Regulatory technology, or regtech, can improve the efficiency and effectiveness of functions in many workplaces, and banks and credit unions are no exception. That’s where regtech for banks can help.

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Takeaway 1 Regtech uses new technologies such as AI and machine learning to streamline processes that keep organizations compliant. Regulatory technology, or regtech, can improve the efficiency and effectiveness of functions in many workplaces, and banks and credit unions are no exception. That’s where regtech for banks can help.

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

MARCH 8, 2024

Takeaway 1 Bank w ire transfer fraud is increasing due to technological advances today. Takeaway 3 Education and technology tools are our best defense against b ank wire transfer fraud in our institutions. Bank wire fraud Introduction Bank Wire fraud has long plagued the financial industry.

Fraud 195

Fraud Technology Trends Training 195

Perficient

MAY 27, 2022

For those wanting to start their own cryptocurrency fund, it’s important to be well informed about cryptocurrency regulations. Regulatory cryptocurrency regulations are most fluid at the state level. State Regulations. SEC Regulation. Central Bank Digital Currency (CBDC) ).

cryptocurrency 332

cryptocurrency Regulation Management Bitcoin 332

Abrigo

MARCH 2, 2023

Banking technology decisions now affect future growth With the possibility of a recession, community financial institutions may consider a delay or cut in technology spending. Takeaway 2 According to Forrester data, firms pursuing technology-driven innovation grow three to four times faster than industry averages.

Technology 195

Technology Lending Community Software 195

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.

Regulation 234

Regulation Tools Compliance Technology 234

PYMNTS

DECEMBER 23, 2019

The same framework should be in place to improve technology used by regulators in efforts to strengthen supervision throughout the industry, the think tank also says. We should not deify artificial intelligence as it could go wrong just like any other technology,” Gang said. billion by 2023, up from an estimated $4.5

Regulation 202

Regulation Groups Policies Big Data 202

PYMNTS

MARCH 22, 2019

The Internet of Things (IoT) has firmly taken hold, with new applications — focusing on the support of consumer, business and industrial use cases — now being developed and rolled out regularly. The adoption of IoT technology to support business use cases is particularly impressive. Developments from Around the IoT World.

Regulation 189

Regulation Security Data Industry 189

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. Managing The Invoice.

Industry 219

Industry Payments Retail Regulation 219

PYMNTS

JANUARY 24, 2020

With an array of bills brought forward by lawmakers during this legislative session, Washington state could become a leader in artificial intelligence regulation. Microsoft , as well as its president, has been asking regulators to make legislation on artificial intelligence (AI) for months.

Washington 229

Washington Regulation Software Examples 229

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. million. “The

Innovation 301

Innovation Technology Fintech Payments 301

ATM Marketplace

JULY 30, 2021

Technology is continually advancing as every industry deals with unique challenges. Banks are dealing with automation, regulation, digitalization and disruption to meet with the needs of customers. The traditionally slow moving industry is now changing rapidly. Banks and financial institutions are no exception.

Technology 134

Technology Meeting Regulation Industry 134

PYMNTS

APRIL 8, 2019

Australian financial regulators are feeling pressure to ensure financial institutions treat customers properly and have turned to artificial intelligence (AI) in an attempt to improve compliance, according to a report by the Financial Times. The ASIC inquiry found misconduct in the financial industry as well as a lack of enforcement.

Compliance 108

Compliance Regulation Industry National 108

Accenture

MARCH 23, 2017

I wanted to follow on from my previous blog around the emergence of RegTech (technologies that address the challenge and cost of regulatory compliance.) I wanted to explore how investment trends in this area are impacting the industry and how the ecosystem can work with the regulator. Now—what does RegTech mean?

Regulation 150

Regulation Industry Trends Compliance 150

Accenture

MARCH 23, 2017

I wanted to follow on from my previous blog around the emergence of RegTech (technologies that address the challenge and cost of regulatory compliance.) I wanted to explore how investment trends in this area are impacting the industry and how the ecosystem can work with the regulator. Now—what does RegTech mean?

Regulation 150

Regulation Industry Trends Compliance 150

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.

Innovation 147

Innovation Technology Risk Management Analytics 147

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Humans are resilient, and difficult times that require change is not foreign to the financial services industry. This frequency of communication to the financial services industry is abnormal to say the least.

Regulation 195

Regulation Fraud Compliance Trends 195

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Humans are resilient, and difficult times that require change is not foreign to the financial services industry. This frequency of communication to the financial services industry is abnormal to say the least.

Regulation 195

Regulation Fraud Compliance Lending 195

PYMNTS

MARCH 17, 2019

The People’s Bank of China (PBOC) announced that it is planning to steadily develop a system of rules to regulate financial technology (FinTech) in the country. However, while the technology is fine, the financial services (FinServ) offerings concern the president of Chinese financial investment platform Phoenix Finance.

Regulation 192

Regulation Fintech Phoenix Risk Management 192

PYMNTS

APRIL 16, 2019

However, as IoT continues to proliferate in more industries and use cases, concerns about data privacy have quickly followed, with consumers and lawmakers ra ising concerns about attacks from bad actors. Another recently introduced piece of legislation aims to protect individuals by regulating facial-recognition cameras.

Regulation 204

Regulation Data Nevada blockchain 204

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. Many FIs are developing sustainability strategies which rely significantly on technology for operational transformation.

Industry 140

Industry San Jose New York City Resources 140

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

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.

Regulation 173

Regulation blockchain Marketing Strategy 173

PYMNTS

OCTOBER 1, 2019

In the next 10 years, as robots and other tech bring about the “greatest transfer from labour to capital” the industry has witnessed, per a report by Wells Fargo analysts, U.S. Mayo said, according to the outlet, “It’s been a rocky 25-year marriage for banking and technology, but it’s finally getting on course.”.

Technology 217

Technology FDIC US Big Data 217

PYMNTS

NOVEMBER 26, 2019

Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment. For traditional banks, compliance experts agree that it’s all about data — and the ability to share information with regulators. Just ask Sergiy Barybin, CEO of Lithuanian cross-border payments technology company SatchelPay.

Compliance 182

Compliance Regulation Fintech Resources 182

PYMNTS

JULY 22, 2020

The Monetary Authority of Singapore (MAS) has proposed new regulations on cryptocurrency that will include those engaging in overseas activity, in an expansion on rules for the sector, according to a press release.

Regulation 140

Regulation Bitcoin Cyber Security cryptocurrency 140

PYMNTS

JANUARY 9, 2019

Many carmakers have softened their stances on driverless technology because they’re not sure if the tech is quite ready for the mainstream. The problem is that regulators are worried about the legality of such a system, because the nuances of whether it can work in an emergency are questionable.

Technology 175

Technology Las Vegas Regulation Groups 175

PYMNTS

FEBRUARY 17, 2020

European Union industry commissioner Thierry Breton rebuked Facebook’s proposed new internet rules Monday (Feb.17), Breton said he’ll decide by the end of the year if he wants to adopt a set of stringent rules as a way for the EU to set out ironclad responsibilities for social media platforms and regulate them.

Regulation 141

Regulation social media Meeting Google 141

Cisco

NOVEMBER 1, 2022

In 2017, New York Department of Financial Services (NYDFS) passed cybersecurity regulation 23 NYCRR 500, requiring all financial services companies to implement multi-factor authentication (MFA). According to the NYDFS cybersecurity regulations, there are common MFA violations that have occurred across financial service organizations.

Regulation 120

Regulation Security System New York 120

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.

Industry 155

Industry Payments Fraud How To 155

Perficient

MARCH 30, 2023

However, due to their sensitive and regulated natures, some industries – especially the financial services industry – have had more complicated cloud transformation journeys than others. Institutions should implement cloud technologies in a way that makes sense for their needs.

Training 492

Training Security Data Regional 492

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. trillion to the global financial industry over the next 15 years.

Regulation 245

Regulation Payments Innovation Fintech 245

Perficient

JANUARY 23, 2024

The COVID-19 pandemic prompted several unprecedented shifts in society, notably impacting the workplace and necessitating the adoption of innovative technologies that facilitate collaboration and efficiency in a work-from-home (WFH) environment. This post has been updated to reflect FINRA Regulatory Notice 24-02, issued January 23, 2024.

Compliance 221

Compliance Regulation Industry Maine 221

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.

Regulation 181

Regulation Groups Online Analysis 181

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.

Regulation 147

Regulation Fintech Community Bank Community 147

Perficient

JANUARY 3, 2024

The COVID-19 pandemic prompted several unprecedented shifts in society, notably impacting the workplace and necessitating the adoption of innovative technologies that facilitate collaboration and efficiency in a work-from-home (WFH) environment. What’s New?

Compliance 221

Compliance Risk Management Regulation Industry 221