PYMNTS

DECEMBER 9, 2020

And new regulations are taking root or are on the horizon to help protect consumers, their data and how that data might be used. But Joe Bloemendaal , digital strategist with Mitek Systems , told PYMNTS in a recent interview that companies can prepare for regulatory changes in ways that build trust and even lead to new revenue streams.

Regulation 234

Regulation Security Data Course 234

PYMNTS

DECEMBER 9, 2020

What makes the current developments so interesting and exciting is that “we're just seeing that they're at the end of the innovation growth cycle,” he explained. 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.

Innovation 306

Innovation Fintech Payments Regulation 306

PYMNTS

NOVEMBER 16, 2020

The European Central Bank (ECB) has plans to independently investigate an incident that affected its TARGET2 real-time gross settlement system on Oct. 23 this year, which resulted in a near 10-hour outage, according to a press release. TARGET2 is the top European platform for processing larger platforms, the release stated.

System 217

System Payments Operations Software 217

PYMNTS

JANUARY 26, 2021

Add “lobby and visitor management” to the list of tech industries that have seen a spike in demand as companies contend with an ever-changing list of COVID-19-era requirements needed to safely and swiftly move people and packages in and out of their businesses. Are we being compliant with government regulations? Mashiyev recalled.

Management 291

Management Company US Compliance 291

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.

Regulation 183

Regulation Capital Fintech Innovation 183

PYMNTS

NOVEMBER 12, 2020

Payments Canada is teaming up with Mastercard’s Vocalink for clearing and settlement for the country’s new real-time payments system, the Real-Time Rail (RTR). Mastercard’s Vocalink’s clearing and settlement solution supports Payments Canada requirements, including ISO 20022 and the Bank of Canada’s risk management standards. “As

Payments 345

Payments Innovation Risk Management System 345

PYMNTS

SEPTEMBER 14, 2017

The Payment Systems Regulator (PSR) and Bank of England (BoE) announced Wednesday (Sept. 13) that the Payment System Operator Delivery Group (PSODG) has completed the necessary steps to meet a mandate handed down by regulators. s financial system.

System 134

System Payments Regulation Groups 134

PYMNTS

MAY 23, 2017

Innovation is happening at the speed of payments — which, as it turns out, can be pretty fast these days. I travel three weeks out of four to meet our stakeholders in the markets they are in — customers, agents, regulators and employees. I try to keep this to a minimum. This routine occurs no matter where I am in the world.

Innovation 190

Innovation Payments Compliance Risk Management 190

Insights on Business

JUNE 18, 2019

Risk management professionals are comfortable with ideas about growth curves and early versus late investment. In the IBM white paper “ A new era of technology-enabled financial risk management ,” discover in greater detail how to apply emerging technologies to help modernize risk management capabilities.

Risk Management 185

Risk Management Technology Management Big Data 185

PYMNTS

SEPTEMBER 26, 2018

Representative Warren Davidson (R-Ohio) is hosting a “Legislating Certainty for Cryptocurrencies” roundtable, with financial firms, venture capitalists (VCs) and cryptocurrency companies all gathering to say their piece on the shaping of crypto regulation. ICO market.” ”

Management 164

Management cryptocurrency blockchain Regulation 164

PYMNTS

JULY 16, 2019

But for various reasons, financial institutions — even as they face increasing pressure from politicians and regulators to improve AML monitoring and defenses — don’t yet seem in a rush to employ AI for such tasks. We all know the system is broken,” he said. The system is not working.”. AI Disconnect. percent), nearly all (92.5

System 143

System Fraud Data Maine 143

PYMNTS

DECEMBER 31, 2020

In our crazy banking system, you don’t actually have to prove who somebody is to put their name on a piece of paper and stick it in the mail,” he noted. One is regulatory trends, where regulators are looking to increase competition in this field and drive innovation. The other is technological innovation.

Innovation 289

Innovation Payments Trends Regulation 289

PYMNTS

SEPTEMBER 24, 2019

The bumpy road cryptos face under scrutiny from regulators (we’re looking at you, Libra ) was a springboard into a larger discussion between Zac Cohen, general manager at Trulioo , and Karen Webster on the challenges FIs and others face when deploying new technologies. Toward an Interoperable ID System.

Innovation 182

Innovation Fraud Technology Security 182

PYMNTS

DECEMBER 28, 2018

The company announced in February that it would acquire the expense management Software-as-a-Service (SaaS) firm that already underpins Visa’s IntelliLink Spend Management platform, designed for commercial and small business (SMB) customers. Microsoft, KPMG Enter SMB Management. Square Links Up With Handshake.

Innovation 184

Innovation Fintech Payments Management 184

Insights on Business

JANUARY 3, 2019

For financial institutions, the benefits of moving away from legacy in-house systems to the cloud are obvious. Simultaneously, regulators and auditors are issuing new cybersecurity regulations and guidelines. Three pillars of cyber risk management on the cloud.

Risk Management 128

Risk Management Management Regulation Guidelines 128

PYMNTS

JULY 26, 2019

Some solution providers like Ripple are introducing new ways to bypass the correspondent banking system entirely. Regardless of how, these technologies and their innovators share common goals: to accelerate and streamline cross border payments. As the pace of payments innovation accelerates, banks will face rising operational hurdles.

Innovation 160

Innovation Payments Course System 160

Abrigo

DECEMBER 17, 2021

Takeaway 1 Having a cohesive vision from the top down is critical to a culture of innovation and the successful adoption of new software. . Takeaway 3 Many FIs will price-compare vendors, but neglect to consider potential hidden costs , especially when managing multiple vendors. Build a culture of innovation. Start at the Top.

Fintech 195

Fintech How To Innovation System 195

PYMNTS

OCTOBER 18, 2017

Innovation is oxygen in payments. For financial services firms, innovation is spurring speed, killing friction and fostering loyalty among customers. That, itself, begs the question: What is innovation, really? explained there is wide variation in the definition of innovation.

Innovation 140

Innovation Compliance Community Bank Strategy 140

Insights on Business

MAY 1, 2019

While deregulation has been a trend over the past few years, compliance monitoring and regulatory change management remains a top focus for financial institutions of all sizes. Some of the key themes our panelists discuss will focus on these main areas: 1. Volume of regulatory alerts.

Compliance 122

Compliance Management Regulation Analysis 122

PYMNTS

MARCH 30, 2020

The American workforce shifted to telecommuting almost overnight, and regulators have found ways to shorten decision making that once took months and years into hours and days. All panel participants noted that healthcare has not been an industry focused on digital innovation — either in terms of the provision of care or in paying for care.

Innovation 147

Innovation System United States Tools 147

PYMNTS

JANUARY 22, 2018

Expense management technology is now a saturated market, particularly for the small business space – which is notoriously difficult to serve, because they are too small for large, enterprise-grade solutions, but too large for consumer-specialized tools. ” What is clear, though, is that demand for T&E technologies is on the rise.

Management 116

Management Compliance Taxes Marketing 116

PYMNTS

OCTOBER 14, 2019

AML and the problem of innovation. Starting an innovation battle can be more difficult than expected for banks, in part because of how U.S. financial regulations work. banks have to analyze AML regulations before even beginning to innovate, and the rules in question change often.

Strategy 109

Strategy Fraud Innovation Regulation 109

Insights on Business

AUGUST 22, 2018

IBM RegTech Innovations. Regulatory change is growing in size and IBM’s innovative end-to-end GRC solution , powered by Watson, is enabling the financial services industry to meet this challenge. Given these issues, it is critical that governance, risk and compliance (GRC) systems are leveraged to enhance this process.

Compliance 79

Compliance Innovation Technology Policies 79

Perficient

AUGUST 14, 2020

Prior to COVID, health systems acquired brick and mortar to create an ecosystem to retain revenue. It was common practice to buy a competing health system, build a new women’s clinic, or provide EHR access to ambulatory practices at “no cost.”. Managing Dynamic Events. Change in Investment Strategy.

System 519

System Analytics Strategy Guidelines 519

PYMNTS

NOVEMBER 18, 2020

The patient, McCarthy noted, has become the largest payor in the entire healthcare system. This means providers — doctors who likely went to medical school with the goal of treating patients — have been thrust into the unfortunate job of being accounts receivable (AR) managers and bill collectors. Ready For Innovation.

Meeting 312

Meeting Payments Cards System 312

Perficient

FEBRUARY 29, 2024

Going forward, banks should: Implement AI-driven systems to streamline credit decision processes, reducing decision times, and enabling faster responses to loan applications. Explore and integrate alternative data sources and innovative scoring models to offer fairer assessments of creditworthiness.

Trends 221

Trends Industry Analytics Compliance 221

Insights on Business

MARCH 5, 2019

Reducing costs but appeasing regulators seems like an oxymoron, yet, many AML compliance and operations leaders are being asked to do just that. The key is simple: financial institutions just need to improve the efficiency of their people and systems. The question is, how to do this, while keeping the regulators happy?

Regulation 70

Regulation Compliance Analysis Innovation 70

PYMNTS

APRIL 11, 2019

Per CNBC’s interaction with IMF Managing Director Christine Lagarde on these and other new technologies: “I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever … that is clearly shaking the system,” Lagarde said.

System 136

System cryptocurrency blockchain Course 136

Insights on Business

JULY 31, 2018

IBM RegTech Innovations. Armanta’s technology platform allows financial institutions to aggregate data across multiple systems in near real-time speed. We caught up with Peter Chirlian, CEO of Armanta, an IBM Company, to tell us more about Armanta’s innovative approach to aggregation and risk analytics.

Innovation 133

Innovation Analysis Analytics Risk Management 133

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? There are significant changes coming in Europe, which highlight getting a handle on responsible AI use, with the banking and financial services sector among those that will be most impacted by increasing regulation.

Regulation 52

Regulation America Compliance Fraud 52

PYMNTS

JUNE 9, 2019

International Monetary Fund Managing Director Christine Lagarde issued a warning over the weekend about the impact artificial intelligence may have on the financial system across the globe. But it has also led to two firms controlling more than 90% of the mobile payments market.”

Industry 190

Industry Big Data Fintech Taxes 190

PYMNTS

APRIL 16, 2019

Among the most recent headlines, in Asia this past week, the Monetary Authority of Singapore (MAS) and the National Bank of Cambodia have signed a memorandum of understanding (MOU), that Business Times said will boost partnerships on FinTech and financial services innovation. The banks have also agreed to share data on emerging markets.

Fintech 211

Fintech San Francisco National Innovation 211

PYMNTS

JUNE 8, 2016

In a payments landscape that is ever-changing and rapidly growing, having a focus on innovation that takes that same approach is significant. As Peter Read , President of Peoples Card Services , recently pointed out to PYMNTS, needs are never static, and neither should the payments innovation aimed at addressing them.

Innovation 100

Innovation Millennials Cards Fintech 100

Abrigo

MARCH 7, 2022

Experts weigh in on regulatory hot topics for 2022 Review these 10 insights into what regulators are looking for in 2022 to help your financial institution pass exams with flying colors. Takeaway 1 Regulators have increased their focus on BSA in the first quarter of 2022, and the crisis in Ukraine will put OFAC in the spotlight.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 195

Cisco

NOVEMBER 15, 2022

It is about opening up information to spur innovation of third-party providers to build new, added-value offerings. Before open banking, financial institutions would hold on to its customers data, so it was difficult for new, innovative financial services providers to break into the market since they couldn’t access the data.

Innovation 160

Innovation Security Innovation Strategies Data 160

Abrigo

MARCH 2, 2023

Takeaway 2 According to Forrester data, firms pursuing technology-driven innovation grow three to four times faster than industry averages. But as Southwest’s scheduling system crisis over the holidays showed banking and all other industries, technology shortcomings create enormous costs in the short-term and in the future.

Technology 195

Technology Lending Community Software 195

Abrigo

NOVEMBER 2, 2021

financial system. One of AMLA's primary objectives is for financial institutions to spend time doing what is truly necessary for detecting criminal activity and not spin their wheels with policies and procedures on tasks that bring no benefit to law enforcement. financial institutions.

Compliance 195

Compliance Regulation Resources Policies 195