PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

Mobile 229

Mobile Report America Regulation 229

PYMNTS

MAY 20, 2020

The 27 EU member states have their own financial systems, and many have also implemented their own domestic real-time payments rails. Making cross-border payments in the EU therefore requires interconnectivity between the regions’ various real-time payments rails. Official guidelines and regulations can only go so far, however.

Payments 210

Payments Guidelines Regional Strategy 210

PYMNTS

MAY 22, 2020

Treasury’s difficulties getting relief money to individuals, has renewed calls for the government to accelerate its FedNow national real-time payments network, still not expected to be operational until at least 2023. The Paycheck Protection Program (PPP) disbursement fiasco, coupled with the U.S. Problem No.

Payments 344

Payments Policies Guidelines National 344

PYMNTS

APRIL 6, 2020

Based on information from six nations, with the inclusion of the U.K., regulators in Europe said on Monday (April 6) that Mastercard ’s plans to purchase a portion of Nets presents a sizable risk to competition on the continent. The European Commission said it had agreed to a request from the U.K., and the European Economic Area.

National 140

National Regional System Regulation 140

Abrigo

AUGUST 31, 2023

Both resident and non-resident international clients may drop or rearrange names to fit into Western systems, but their documents, including checks and deposits, may still use their original nomenclature. For example, form letters often filter information from core systems, automatically assigning “Mrs./Mr./Miss”

Compliance 195

Compliance Community Training System 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

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

NOVEMBER 9, 2017

Small banks do not want to compete with the Amazons and Walmarts of the world when it comes to offering financial services for clients — and as of today, they more or less are protected from having to do so by regulations that prevent banks’ holding companies from branching too far outside of core financial services businesses.

Regulation 100

Regulation Retail New York Apple 100

PYMNTS

FEBRUARY 20, 2020

Financial Stability Board (FSB) Chair Randal Quarles has warned global financial regulators that they must accelerate the creation of a framework for cryptocurrency and other forms of digital money, Reuters reported on Wednesday (Feb.

cryptocurrency 194

cryptocurrency Meeting Conference Regional 194

PYMNTS

MAY 21, 2020

The company wrote in the document that under the system, users could “hold digital currency with the same denomination as the local physical currency (e.g., $100 A central entity may be a central bank which regulates a monetary supply,” the company wrote. “A A central entity may be associated with a government of such a region.”.

United States 244

United States Regional cryptocurrency Retail 244

PYMNTS

FEBRUARY 14, 2020

In perhaps the most sweeping example, the member states of the United Nations have embraced, as part of “sustainable development goals,” a target to “provide legal identity for all, including birth registration,” by 2030. An ambitious goal, to be sure, and one that the U.N.

How To 205

How To National Fraud Data 205

PYMNTS

MARCH 25, 2019

The implementation of PSD2 represents an opportunity for countries to overhaul their financial infrastructures, forcing them to upgrade older systems so businesses and FIs can remain compliant and move money faster. To foster trust and grow customer awareness, DNB has launched a national media campaign.

Regional 108

Regional Regulation Data Payments 108

PYMNTS

MARCH 19, 2019

The country’s regulators have gotten tough on the shadow banking market in recent years. However, while regulators are happy to see shadow lending fade, the sector’s main borrowers — private companies — are feeling the strain. China’s $9.1 As a result, outstanding loans in the sector fell to ¥61.3 trillion ($9.1

Lending 100

Lending Regulation Maine Regional 100

Bobsguide

APRIL 13, 2022

Dubai, UAE – April 13, 2022 – Finastra today announced that Banque Misr, the second largest national bank in Egypt with international presence, has selected Fusion Trade Innovation and Fusion Corporate Channels to digitalize its trade finance services and provide a premium user experience.

Regional 113

Regional Innovation User Experience Software 113

NCR

SEPTEMBER 1, 2016

At the moment, some parts of this region are still heavily cash dependent, with research from McKinsey and Capgemini suggesting just two per cent of transactions in emerging nations of Asia-Pacific were cashless last year – though this rises to 35 per cent in developed countries. With more than 1.3 Cutting down on the unbanked.

Regional 75

Regional Payments National Boston 75

PYMNTS

FEBRUARY 4, 2019

A series of regulations was established to encourage a safer, more transparent financial services environment following the 2008 financial crisis. Failure to meet AML/KYC requirement challenges can be costly for FIs, too, with regulators issuing heavy fines for lax security practices or failure to devote sufficient resources to oversight.

How To 161

How To Regulation Compliance Meeting 161

PYMNTS

FEBRUARY 24, 2020

Financial institutions (FIs) and merchants from other regions have been dipping their toes into the Chinese market, but open banking has compounded the difficulty involved in setting up operations. The country’s government and regulators are keeping pace with those in the European Union and the U.S. he remarked. “I

Regulation 160

Regulation Policies Data Compliance 160

PYMNTS

FEBRUARY 21, 2018

A regional government in Russia is now working with state-backed VEB, reports in CoinDesk said this week, as authorities explore how to use blockchain “to improve the quality of management decisions.”. As regulators begin to consider blockchain regulations, many have signaled a desire not to hamper innovation while doing so.

blockchain 130

blockchain Los Angeles Regulation Oregon 130

PYMNTS

NOVEMBER 10, 2020

Many consumers move to new countries to pursue economic opportunities, but adjusting to these locations also requires learning the ins and outs of new financial systems — a transition that can be filled with friction.

Report 216

Report Fintech United States Meeting 216

PYMNTS

JANUARY 8, 2019

In addition, Pakistan’s Telenor Microfinance Bank unveiled a cross-border remittance service based on Alipay’s blockchain technology, Indonesia’s KinerjaPay notched an investment of $200 million from a construction firm in the region and mobile payments are on the rise in China.

Regional 128

Regional blockchain Mobile United States 128

PYMNTS

SEPTEMBER 11, 2019

None of these 57 systems is universally applicable – at least not yet. Different regions have their own unique payment rails, and no two abide by the same regulatory framework. Other initiatives are being spearheaded across regions. APIs serve as bridges connecting national or regional real-time payment rails.

Payments 190

Payments Regional Operations Guidelines 190

PYMNTS

AUGUST 4, 2019

“On the AML side, we are sharing our early experiments with domain experts to solicit feedback,” MIT researcher Mark Weber said, adding, “We are also hoping the release of the Elliptic Data Set inspires others to join the effort to help make our financial systems safer by developing new techniques and models for AML.”.

Bitcoin 115

Bitcoin Study Data Massachusetts 115

PYMNTS

DECEMBER 9, 2020

Clearly there's regional saturation, which leads to consolidation.”. Lukies said that prior to the 2008 financial crisis, regulators and the like normally left banks to their own devices, as long as they didn’t mess it up so that people couldn’t pay their bills or go shopping. Banks Let Themselves Get Left Behind.

Innovation 306

Innovation Fintech Payments Regulation 306

Abrigo

SEPTEMBER 10, 2021

financial system enhanced the criticality of detecting and reporting financial crime, including the financing of terrorist acts against our country. . Terrorist financing was expected in other financial systems around the globe, not to be prevalent in the U.S. financial system. BSA Rules and Regulation. Before 9/11.

Training 195

Training Risk Management Pennsylvania Resources 195

PYMNTS

AUGUST 1, 2018

financial system improve the ability of small businesses (SMBs) to get financing, driven in part by a decline in startup formation in recent decades. Small businesses are essential job generators, and the major driver of economic growth and vibrancy for all regions of the country.”.

Policies 100

Policies Report Regulation Maine 100

PYMNTS

FEBRUARY 21, 2018

In addition, the SEC alleges Montroll and the exchange failed to disclose a cyberattack on BitFunder’s system that resulted in the theft of more than 6,000 bitcoins. Mehraban, associate regional director of the SEC’s New York regional office, said in the release. “We

Fraud 102

Fraud Bitcoin New York Regional 102

South State Correspondent

AUGUST 21, 2022

Meet Competitive Pressures: National and larger regional banks are specifically targeting better borrowers for seven, ten, or 20-year fixed-rate loans. More sophisticated entities can handle a higher ratio because they possess the systems and managerial sophistication to manage the risk.

How To 195

How To Community Bank Community FDIC 195

PYMNTS

JANUARY 7, 2019

Reports began to emerge nearly six months ago that WhatsApp was on the verge of a big mobile payments upgrade in the world’s most sought-after mobile payments greenfield, India, with a system set to run on the Indian government’s UPI payments system. Indians want something they are used to, in a language they can read and write in.

Data 139

Data Wyoming Idaho Utah 139

PYMNTS

JUNE 27, 2019

Digital enterprises are going regional and instant payments are going national (and earlier than originally scheduled). Nubank’s $10B Regional Expansion . The BCB has officially unveiled details of its newly developed blockchain platform, Pier, designed to facilitate information exchange between financial regulators.

blockchain 147

blockchain Payments Regional America 147

PYMNTS

MARCH 25, 2019

Consider the fact that, as noted in the most recent AML/KYC Tracker produced as a collaboration between PYMNTS and Trulioo , money laundering is estimated by the United Nations Office on Drugs and Crime to be an $800 million to $2 trillion-per-year problem, equivalent to 2 percent to 5 percent of the global GDP. The Crypto Factor.

cryptocurrency 196

cryptocurrency Compliance Fraud System 196

Abrigo

DECEMBER 18, 2023

Use portfolio risk management tools, which make it easier to continue supporting local and national economies prudently. Certainly, one asset class, the regional mall, is quite dead,” Kirby said. Learn more about effective risk rating systems in this on-demand webinar. The impact is not consistent.”

Risk Management 221

Risk Management Management Lending Capital 221

PYMNTS

JUNE 19, 2018

The time for “wait and see” is running out when it comes to new European privacy regulations. Soon enough, the financial and consumer impacts of the General Data Protection Regulation (GDPR) will become clear enough that companies that took a laggard’s approach may start to feel significant pain.

Regulation 101

Regulation eBook social media Case Study 101

PYMNTS

AUGUST 20, 2018

Three months in, the European Union’s General Data Protection Regulation still stymies some firms seeking to comply with new rules and regulations governing data protection and privacy. Despite direct exposure to the region, they remain unaware of the GDPR requirements. Separately, and looking beyond the U.S.,

Fintech 101

Fintech Survey Regulation Resources 101

PYMNTS

JANUARY 28, 2019

The report explores how companies in G20 nations are preparing for risks related to technological disruption, regulation and cybersecurity. Overall, organizations did not score well, according to Kevin Hewitt, FTI Consulting’s chairman of the EMEA region.

Management 145

Management Risk Management Survey Security 145

PYMNTS

JULY 12, 2018

Zug] has long been home to citizens from around the world, with over 30 percent of its population being foreign nationals,” Oliver Bussmann, who is the founder of Bussmann Advisory AG and president of the Crypto Valley Association (CVA), told PYMNTS in an email interview. One such company in the Zug region is crypto loyalty firm qiibee.

blockchain 104

blockchain Taxes Regional New York 104

PYMNTS

AUGUST 7, 2019

More recently, Mastercard, with Vocalink, struck a deal with P27 Nordic Payments Platform to provide the Nordic market with a real time and batch payments system. The immediate impact of the acquisition will be felt in the Nordics, where clearing services already exist, and then well beyond that region. “We

Payments 192

Payments Examples System Marketing 192

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