article thumbnail

6 Reasons Financial Institutions Are Embracing Risk and Regulation Tactics

Perficient

Legal Obligations and Regulatory Frameworks It is well-known that financial institutions operate within a complex web of laws and regulations. Operational Efficiency and Effectiveness Adopting regulatory risk and compliance practices is not merely a box-ticking exercise. This ensures a seamless and compliant global operation.

article thumbnail

How Process Mining Accelerates Efficiency for Highly Regulated, Customer-obsessed Industries

Perficient

In the dynamic environment of highly regulated industries like healthcare and financial services, leaders often balance competing goals to delight customers while cutting costs. Diagnosing and Correcting Process Failures Despite the billions spent yearly to digitize processes, companies often are not operating at their maximum potential.

Industry 221
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Big Tech Faces Regulation Reckoning As 2021 Dawns

PYMNTS

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.

article thumbnail

FinTech Cloud Technology Fuels Banking Innovation

PYMNTS

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. Europe and South Africa.

article thumbnail

Turning Compliance Burden Into FinTech-Regulator Collaboration

PYMNTS

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. Resuming Operations.

article thumbnail

New York To Ease Cryptocurrency Regulations

PYMNTS

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. The existing licensee would provide the startup with the operational, staffing, and other support until it can obtain a full DFS virtual currency license.

New York 240
article thumbnail

Deustche Bank: Regulation Complicates B2B Payments’ Digital Transformation

PYMNTS

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 How Customer Expectations Have Driven Payments Innovation.