PYMNTS

OCTOBER 7, 2019

Merchants in the European Union (EU) are still wondering exactly what changes the regulation will bring when it comes to their relationships with customers. It is still a matter of debate on what exemptions, innovations and changes can be left up to national authorities — and what cannot. Around the PSD2 and GDPR world.

Regulation 134

Regulation Trends Compliance National 134

Abrigo

MAY 8, 2024

Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. Read resources provided here to see what they're saying. Stay up to date with free resources on managing risk and driving growth. Another reason for reluctance about generative AI is the highly regulated nature of banking.

Examples 221

Examples Fraud Resources Risk Management 221

Abrigo

DECEMBER 5, 2023

You might also like this resource: "Building a strong future: Succession planning strategies for you AML program." BSA Officer Good vs. great Expertise in BSA/AML regulations: A deep and thorough understanding of the Bank Secrecy Act and other related regulations is non-negotiable. Good BSA Officer can be hard to find.

Training 221

Training Compliance Regulation Software 221

CFPB Monitor

JANUARY 10, 2024

The microsite also includes statements from regulators, legislators, scholars, thought leaders, and the media; input about the CFPB’s planned NSF and overdraft fee rulemaking; and related industry articles.

Resources 78

Resources Regulation Innovation Industry 78

Abrigo

OCTOBER 16, 2023

You might also like this resource: "Building a strong future: Succession planning strategies for you AML program." A gap institution is a financial institution that does not have a federal functioning regulator, such as a state-chartered credit union. Resources for financial crime training can be limited. FinCEN assessed a $1.5

Training 221

Training Compliance Fraud Policies 221

PYMNTS

JUNE 24, 2020

With corporate travel still on pause, commercial card innovation has taken a different direction. “We regret that this incident occurred and take the security of your personal information seriously,” said Cognizant Chief People Officer Becky Schmitt in a letter sent to employees and regulators.

Cards 131

Cards Innovation Tools Capital 131

Abrigo

SEPTEMBER 13, 2022

How to balance AML priorities Transaction monitoring is a critical component of a strong BSA program and a risk-based approach will allow for the best use of valuable resources. . An institution’s risk assessment should guide the dividing of resources. . You might also like this risk assessment checklist for BSA/AML professionals.

Software 195

Software Resources Training Compliance 195

Abrigo

JUNE 12, 2023

A regulatory baseline Benefits to adopting the model money transmitter act framework Money transmitters are regulated at the state level, and the absence of a standardized licensing and regulatory framework across states can lead to consistency and challenges for money transmitters. alone, handling $6 trillion in payments.

Compliance 195

Compliance Fraud Regulation Guidelines 195

Abrigo

OCTOBER 16, 2023

You might also like this resource: "Building a strong future: Succession planning strategies for you AML program." A gap institution is a financial institution that does not have a federal functioning regulator, such as a state-chartered credit union. Resources for financial crime training can be limited. FinCEN assessed a $1.5

Training 195

Training Compliance Fraud Policies 195

PYMNTS

APRIL 16, 2020

COVID-19, the panel universally agreed, for all the havoc it has wrought, may end up being the catalyst for innovation that the CU entire industry needed to really begin its next evolution in delivering on its members expectations. Innovating On A Dime. We’ve learned quite a bit.”.

Innovation 141

Innovation Meeting Industry Tools 141

Perficient

DECEMBER 14, 2020

Cloud technologies have changed the way that enterprises deploy and integrate services, saving time and resources, and allowing them to hyperscale their services. Instead of relying on on-premises infrastructure to backup workloads, a cloud disaster recovery plan backs up data, applications, and other resources to the cloud.

Technology 348

Technology Trends Software Resources 348

Abrigo

DECEMBER 13, 2023

You might also like this resource: "AML investigations checklist: Red flags for detecting money laundering." Well-documented adjustments will please regulators. The documentation generated during ATL/BTL testing is a valuable resource during regulatory examinations and audits.

Training 221

Training Fraud Software Regulation 221

Insights on Business

OCTOBER 3, 2018

IBM RegTech Innovations. Mounting pressures on financial institutions to drive out costs, improve customer experience, complete with emerging players, and comply with new regulation mean that adopting advanced technologies will not be optional. Key Areas for Digital Disruption within Financial Services.

Industry 155

Industry Innovation blockchain Compliance 155

Abrigo

JUNE 10, 2020

Adequately staffed and risk-focused AML resources with good documentation are critical. Adequate, risk-focused AML resources are critical. Get adequate resources. The regulators don’t care what your budget is,” Luttrell says. Focus BSA/AML resources on risk. The recent $450,000 fine of U.S.

Resources 195

Resources Regulation Compliance Policies 195

PYMNTS

APRIL 19, 2019

The EU’s General Data Protection Regulation (GDPR) is a prime example, said Jones. Payroll and tax-related regulations are also a strategic focus for accountants handling payroll for their customers. “Payroll is a very resource-draining, time-consuming process, and it’s one of those ones that has to be done.

Innovation 154

Innovation Compliance Technology Resources 154

PYMNTS

JULY 26, 2019

Regardless of how, these technologies and their innovators share common goals: to accelerate and streamline cross border payments. She also pointed to the service’s stop-and-recall, fund confirmation and enterprise resource planning (ERP) integration capabilities as a few examples of enhanced features key to addressing business payment needs.

Innovation 160

Innovation Payments Course System 160

Jeff For Banks

JULY 8, 2018

Rather than searching reputable sources for how this bank or that bank innovates, I thought I would give it to you straight from the gut. Because experience tells me that bankers are struggling with innovation. At its core, innovation should solve problems. Make innovation a bank wide call to arms. What's a banker to do?

Innovation 60

Innovation Resources Taxes Leadership 60

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

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 question is, how to do this, while keeping the regulators happy? Even better, regulators have recently begun encouraging the application of these techniques.

Regulation 70

Regulation Compliance Analysis Innovation 70

PYMNTS

JULY 30, 2018

This is designed to promote competition and innovation by supporting new entrants into the marketplace,” Nanopay CEO Laurence Cooke told PYMNTS.com in an interview. Even so, the retail framework has been in draft and still needs to find a regulator – and people must be trained as well. But that could potentially change.

Innovation 103

Innovation Payments New York California 103

Abrigo

NOVEMBER 2, 2021

AMLA encourages a strengthened partnership between law enforcement and financial institutions, using scarce resources more effectively. The AMLA is extensive, and there are many steps involved before FinCEN can implement the act, such as conducting studies, writing regulations, and publishing guidance. financial institutions.

Compliance 195

Compliance Regulation Resources Policies 195

PYMNTS

JANUARY 31, 2020

Financial institutions (FIs) and merchants in the European Union (EU) have had some time to get used to both the General Data Protection Regulation (GDPR) and the revised Payment Services Directive (PSD2). Australian regulators are still deciding how Open Banking will affect FIs within their country.

Digital Banking 136

Digital Banking Guidelines Regulation Data 136

PYMNTS

SEPTEMBER 11, 2019

Jamal El-Hindi, the deputy director of the Financial Crimes Enforcement Network (FinCEN), spoke at the 2019 Money Transmitter Regulators Association Annual Conference on Wednesday (Sept. 11) about the importance of innovation and the regulation of non-banking financial institutions (NBFI), according to a release.

social media 116

social media Compliance Innovation Regulation 116

PYMNTS

FEBRUARY 4, 2020

Open Banking’s European success has kicked off interest in similar regulations worldwide, most notably in China, India and Singapore, where digital banking’s popularity among general consumers is rapidly rising. SCA Questions Stall Innovation. This fractured SCA’s ability to innovate, and challenges persist months after its deadline.

Fraud 144

Fraud Regulation Compliance Innovation 144

South State Correspondent

JANUARY 3, 2024

These books span a range of banking topics but emphasize second-order thinking, productivity, building client relationships, and innovation. This work offers bankers a set of rules for successfully capitalizing on innovation and a guide of when bankers should innovate and when not.

Leadership 370

Leadership Management Strategy How To 370

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

PYMNTS

JULY 16, 2019

Banks are innovating their application programming interface (API) platforms to allow for more third parties, while online merchants are prepping for a potential loss in revenue due to the security frictions that SCA might bring. Both banks and regulators are re-examining how exactly SCA will affect the financial ecosystem.

Strategy 188

Strategy social media Regulation Retail 188

Chris Skinner

MAY 23, 2017

The first is the Innovate Finance research into Industry Sandboxes. Commissioned by the Financial Conduct Authority (FCA), the UK regulator, the aim was to identify how Industry Sandboxes, rather than Regulatory Sandboxes, can help to create new services in finance.

Fintech 202

Fintech Innovation Compliance Industry 202

Perficient

FEBRUARY 29, 2024

Explore and integrate alternative data sources and innovative scoring models to offer fairer assessments of creditworthiness. Automation of tasks not only reduces costs and errors but also liberates resources for higher-value activities, thus streamlining operational efficiency.

Trends 221

Trends Industry Analytics Compliance 221

Abrigo

MARCH 11, 2022

Expert insights on 10 regulatory topics that NBFIs should consider this year Review this list of what regulators are looking for in 2022 to help your NBFI pass exams with flying colors. Takeaway 3 NBFIs should review common deficiencies in AML programs that regulators are citing and fix issues before their next audit or exam.

Regulation 195

Regulation cryptocurrency Policies Management 195

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

JULY 11, 2017

The basis of innovation is not the desire to create something new or even the inspiration to do so. Innovation occurs where there is a problem and a person with the tools to solve it. Anyone can have a good idea,” Lowthers said; innovation is about what you do with it. PYMNTS: Where do you look for innovative ideas, and why?

Innovation 101

Innovation social media Security Leadership 101

Perficient

FEBRUARY 24, 2021

2020 was a year that challenged companies in every industry to not only adapt to an increasingly digital world, but to innovate quickly and accelerate their digital initiatives to survive in the competitive marketplace. Industry Regulations. Industry Regulations. The digital world is global, now, more than ever.

Software 294

Software United States Strategy Regulation 294

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 156

Innovation Security Data Innovation Strategies 156

Abrigo

FEBRUARY 25, 2022

Codified risk-based approach The AMLA codified the risk-based approach for the first time, and a thorough risk assessment is necessary to justify businesses to your regulators. ?As As regulators get up to speed with new FFIEC Exam Manual updates, you may need to remind them that not all groups of customers present the same risk.

Regulation 195

Regulation Policies Compliance Washington 195

PYMNTS

JULY 21, 2020

The UK government said FinTech’s success is key to ensure the country rebounds from COVID-19 and to remain at the center of financial innovation. with growth fuelled by a favorable startup environment that supports entrepreneurship and innovation,” said Kalifa in a statement. The review is expected to be completed early next year.

Fintech 174

Fintech Ohio Financial Technology Innovation 174

PYMNTS

APRIL 30, 2020

The COVID-19 pandemic has caused an impact on open banking developments worldwide as regulators, financial institutions (FIs) and businesses set their sights on helping their current customers rather than future innovations. where regulators have been workshopping potential rules for several years. Seventy percent of U.S.

Regulation 188

Regulation Regional Data United States 188