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.

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.

Technology 195

Technology Fraud Compliance Regulation 195

PYMNTS

SEPTEMBER 23, 2020

These systems are also designed to ensure compliance with government regulations for fighting organized crime rings, with Thomson Reuters reporting there were 80,000 regulatory updates around the world in 2019 that banks must comply with or be punished with fines. British banks spend upward of £6.7 billion ($8.9 billion in 2019.

Technology 208

Technology Report Fraud Study 208

Perficient

JUNE 1, 2022

So far in our 6-part blog series explaining the intricacies of TRACE, we have defined TRACE reporting, detailed the prep work to be done in order to effectively report TRACE transactions , and reviewed considerations for alternative trading systems. by programming systems to delay reporting until the end of the reporting period.

Report 294

Report Security Regulation System 294

Perficient

NOVEMBER 30, 2021

Recognizing that regulated and non-regulated financial institutions seek to engage in cryptocurrency and crypto asset activities, the three largest federal bank regulators, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, recently issued a joint statement on crypto assets.

cryptocurrency 309

cryptocurrency Regulation Policies Compliance 309

Perficient

NOVEMBER 27, 2023

In the dynamic environment of highly regulated industries like healthcare and financial services, leaders often balance competing goals to delight customers while cutting costs. Imagine a technology that can precisely pinpoint where a process bottlenecks, track where inefficiencies are, AND offer ideas for automation opportunities.

Industry 221

Industry Regulation Compliance Data 221

PYMNTS

OCTOBER 9, 2020

A government report found that airplanes have a number of digital technologies that might become susceptible to hackers and says American regulators have not put sufficient methods in place to contend with the risk, Bloomberg reported. The Government Accountability Office (GAO) noted in a report Friday (Oct.

Report 348

Report System Regulation Technology 348

PYMNTS

JUNE 29, 2020

(FDIC) is considering nixing its quarterly reports of banks in an attempt to modernize the way data is handled. To do so, the FDIC is going about a new competition among 20 data and technology firms to try and find the best way to move forward, WSJ reported.

FDIC 221

FDIC Report Regulation Data 221

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 25, 2020

The age of digital currencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. With a nod specifically to Libra, the report noted that the digital offering could be embraced by Facebook users en masse. In a paper that debuted Tuesday (Nov.

Regulation 231

Regulation Bitcoin Cleveland Study 231

PYMNTS

DECEMBER 6, 2020

Britain's highly anticipated report outlining new rules to govern Big Tech will call for establishing specific rules for certain sectors of the digital economy and major players within them, the Financial Times (FT) reported. Effective regulation] means not being afraid to try using new tools and approaches,” he said.

Regulation 170

Regulation Marketing Fintech Report 170

PYMNTS

DECEMBER 20, 2020

Alibaba billionaire Jack Ma told Chinese regulators in November that he would give portions of Ant Group , the FinTech he founded, to the country's government in what so far has appeared to be an unsuccessful effort to make peace with authorities in the country, The Wall Street Journal (WSJ) reported.

Groups 278

Groups Report Regulation Meeting 278

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.

Innovation 301

Innovation Technology Fintech Payments 301

PYMNTS

DECEMBER 23, 2019

Policy advisers at a leading think tank said that China should introduce a regulatory framework for artificial intelligence in the finance sector, according to a report from Reuters on Sunday (Dec 22). We should not deify artificial intelligence as it could go wrong just like any other technology,” Gang said.

Regulation 202

Regulation Groups Policies Big Data 202

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

NOVEMBER 5, 2020

Ant Group 's initial public offering (IPO) could be delayed by six months and its valuation reduced by quite a lot after its delay this week, a report from the Financial Times says, as new regulations come into play. 3), one day after Beijing debuted a set of regulations that would have forced Ant Group to re-do its business model.

Groups 189

Groups Regulation Lending Financial Technology 189

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

Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. AI technologies, such as voice recognition and natural language processing (NLP), are being used to improve customer experience and to gain operational efficiencies. Personalization of Customer Services.

Regulation 309

Regulation Industry Risk Management Analysis 309

PYMNTS

DECEMBER 16, 2020

In today’s top payments news around the world, IBM has bought Canada-based Expertus Technologies, while Gojek is rolling out its new GoBiz Plus point-of-sale (POS) offering. The technology, which is a collaboration with PT Bank Central Asia, functions as a supplement to the GoBiz retailer super app.

Technology 240

Technology System social media Payments 240

Abrigo

JUNE 9, 2020

Technology has enabled financial institutions to operate more quickly and efficiently, creating a better experience for customers. Rather than spending time tracking down the latest state or federal regulations, a loan documentation solution stays up-to-date on all regulatory deadlines.

Technology 195

Technology Lending Compliance Data 195

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.”. In separate news, U.S.

Technology 217

Technology FDIC US Big Data 217

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. It seems there is no end to the bizarre events being reported from the pandemic to wildfires and murder hornets. Tap into technology to help prevent and detect financial crime. BSA Rules and Regulation.

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. It seems there is no end to the bizarre events being reported from the pandemic to wildfires and murder hornets. Tap into technology to help prevent and detect financial crime. BSA Rules and Regulation.

Regulation 195

Regulation Fraud Compliance Lending 195

Bobsguide

FEBRUARY 14, 2020

Non-financial counterparties (NFC-) are looking to keep European Market Infrastructure Regulation (Emir) reporting in-house ahead of the delegated reporting deadline in June, according to consultants and a technology vendor. Emir Refit reduced the burden of dual-sided reporting for non-financial.

Report 166

Report Data Regulation Technology 166

PYMNTS

DECEMBER 4, 2020

As reported by Bloomberg on Friday (Dec. 4), Dutch antitrust regulators have been looking at the company – specifically into Apple’s Pay’s near-field communications (NFC) operability. NFC is the technology that enables the wireless transfer of data that in turn lets users make contactless payments, among other activities.

Regulation 150

Regulation Apple Google Software 150

PYMNTS

JANUARY 24, 2019

With concerns mounting over the use of facial recognition technology to monitor people and intrude on privacy, Microsoft Chief Executive Satya Nadella said he supports regulation of the technology. The Microsoft CEO cautioned that regulation has to help and not hinder the marketplace.

Regulation 144

Regulation United States Samsung Technology 144

PYMNTS

JULY 31, 2020

China’s State Council’s Anti-Monopoly Commission is considering investigating Alipay and WeChat Pay , two of the county’s biggest online payment and money transfer platforms, Reuters reported. Reuters reported. The mobile banking market reported 56.2 COVID-19 and its aftermath moved the country from cash to online payments.

Regulation 181

Regulation Groups Online Analysis 181

PYMNTS

DECEMBER 8, 2020

Nonetheless, Many FIs are looking to simplify and secure their onboarding procedures while also enabling customers to stay safe during the pandemic, leading them to seek out innovative technologies to do so. Brazil-based facial recognition and identification technologies provider Acesso Digital recently reported that more than 5.2

Video 211

Video Report Meeting United States 211

PYMNTS

DECEMBER 28, 2020

Alibaba led another day of high-octane selling that was driven by fears of further antitrust crackdowns, Bloomberg reported. 28), the volume surging past the 12-month daily average, Bloomberg reported. 28), the volume surging past the 12-month daily average, Bloomberg reported. Regulators on Sunday (Dec.

Regulation 141

Regulation Google Report Capital 141

PYMNTS

MAY 16, 2019

Jack Ma, the Chinese billionaire and founder of Alibaba, expressed concerns technology companies will be harmed by increased regulation coming out of Europe. Everything they do is full with rules and laws,” Ma said of Europe, according to the report. Ma used his speech to push back against privacy concerns about the technology.

Regulation 166

Regulation Innovation Guidelines Conference 166

PYMNTS

JULY 15, 2020

The European Securities and Markets Authority (ESMA), the European Union’s (EU) financial watchdog, plans to examine how German regulators handled oversight of Wirecard AG , the collapsed payments company that is facing a series of criminal allegations. It reported nearly $4 billion of debt to creditors, after it revealed that $2.1

Regulation 141

Regulation Guidelines Groups Report 141

PYMNTS

NOVEMBER 9, 2020

Here’s the latest news from the technology industry, which is coming under increasing global scrutiny from governments and consumers. Regulation. EU Gears Up To Propose New Big Tech Regulations. Australian Regulator Looks Into Merger Law Changes. Turkey Hits Big Tech Platforms With $1.18M Penalty.

Regulation 211

Regulation social media Compliance California 211

PYMNTS

DECEMBER 18, 2019

The United Kingdom will create a technology regulator next year after Brexit is completed, according to a report by the Financial Times. s Competition and Markets Authority (CMA), which published a report on Wednesday (Dec. There is an emerging international consensus around the scope of new regulation.

Regulation 134

Regulation Google Policies Meeting 134

PYMNTS

JUNE 12, 2020

regulators. For now, the ruling prevents transfer of staff between the companies and none of Giphy’s technology can be integrated with Facebook’s products. A Facebook spokesperson told CNN Business it is “prepared to show regulators that this acquisition is positive for consumers, developers, and content creators alike.”.

Regulation 151

Regulation Video Community Marketing 151

PYMNTS

AUGUST 21, 2020

JPMorgan Chase plans to launch a digital bank in the United Kingdom early next year, Sky News reported Friday (Aug. The Financial Times and Sky News reported in February that the online bank was in the works and would focus largely on savings and lending services, but Sky News added more details with the latest report.

Report 173

Report Digital Banking Lending Technology 173

PYMNTS

OCTOBER 19, 2018

Following the proposal of a payments regulator to be established independent of the Reserve Bank of India (RBI), the central bank has put forward a public objection. Regulation of the payment system by the central bank is the dominant international model for stability consideration,” the central bank said in a note on Friday (Oct.

Regulation 172

Regulation Payments Guidelines System 172

PYMNTS

SEPTEMBER 14, 2020

has said that it was chosen to be ByteDance’s “trusted technology provider” that will take over TikTok's American operations, and Alibaba is considering an investment in Grab. Plus, new regulations in China will make Ant Group support any payments, lending or finances with substantial funds. Technology Provider’. 14) after U.S.

Technology 148

Technology Groups Payments US 148