Abrigo

MAY 8, 2024

WATCH Takeaway 1 Understanding generative AI and how peers are using AI and genAI helps financial institution leaders and management vet the technology and related risks. Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. Read resources provided here to see what they're saying.

Examples 221

Examples Fraud Resources Risk Management 221

PYMNTS

DECEMBER 7, 2020

It seems to be the case, then, that stablecoins may be regulated to the point where they are an adjunct to fiat – and to the modern monetary system that has been in place for decades – rather than a wholesale replacement. Recently, a BIS study concluded that embedded regulation might offer a solution for stablecoins.

Regulation 192

Regulation United States Cleveland cryptocurrency 192

CFPB Monitor

AUGUST 1, 2022

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space. It also solicits feedback on how to maximize stakeholder engagement.

Financial Technology 78

Financial Technology Technology Fintech Compliance 78

PYMNTS

AUGUST 17, 2020

The British property technology company also plans to roll out an FCA-regulated current account in the weeks to come, according to an announcement from the firm. The firm has launched its own payments and banking initiative to transition landlords away from old platforms harnessing spreadsheets and more manual technologies.

Technology 141

Technology Analytics Resources Lending 141

Abrigo

DECEMBER 22, 2023

Abrigo, a leading technology provider of software solutions for financial institutions, published more than 30 risk management articles on its industry-focused blog in 2023. Abrigo's most popular financial crime blogs over the last 12 months cover topics that continue to catch the attention of professionals and regulators.

Fraud 221

Fraud Training Compliance Trends 221

PYMNTS

AUGUST 6, 2020

New technologies and API infrastructures are also leading to rapid innovations in the PaaS space, including quicker payments than ever before. Corporates crave fast payments from banks, but financial institution (FI) payments are often hamstrung by regulations and cross-border frictions that FinTechs do not face. About The Tracker.

Regulation 245

Regulation Payments Innovation Fintech 245

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

PYMNTS

MARCH 31, 2019

Facebook CEO Mark Zuckerberg wrote an opinion piece in The Washington Post calling on regulators to take a “more active role” in making rules for how to police the internet, according to reports. “By Federal Trade Commission is gearing up to hold talks with state attorneys general about Facebook and Google ’s position in the technology space.

Regulation 151

Regulation Louisiana social media Washington 151

PYMNTS

OCTOBER 19, 2020

Sixty-one percent of treasury professionals in a recent survey said that the time involved in finding out why payments failed had been a drain on company resources. New cloud-based technologies have shown much promise in securing cross-border payments and making them faster and more transparent.

Technology 193

Technology Payments Security Survey 193

PYMNTS

APRIL 10, 2020

“I think one of the largest reasons [insurers are still using checks] is because claim payments, the paying out of a claim, is [a] loss of money, and it is really hard for companies to focus or invest resources in a place in which you are losing money already,” Michele Schmitt, senior product manager for B2B insurance technology firm Tr?v

Mobile 198

Mobile Technology social media Customer Experience 198

Perficient

MARCH 16, 2023

At Perficient, having the experience of delivering over 40 successful client remediation projects over the last 10+ years, we believe clients can obtain significantly more value across the client remediation action plan by: Front loading time-consuming tasks through dedicated sub-teams, rather than executing them sequentially in the process.

Analysis 275

Analysis Resources How To Regulation 275

Insights on Business

APRIL 21, 2017

Quite the contrary, the industry had to adapt to an onslaught of new regulations in the aftermath of the Global Financial Crisis. A decade later, it may have to adapt to the dismantling of those same regulations but remain keyed up for the not-unrealistic possibility of another regulatory assault in a few years.

Technology 156

Technology Compliance Regulation Training 156

PYMNTS

APRIL 29, 2020

As he told Webster, “in many mature markets, the responses of most of these institutions have been fast and consistent, with business continuity plans established under the supervision of regulators.”. He added that “some players who were already advanced in their technology journeys are able to use cloud resources to scale quickly.

Technology 142

Technology System Meeting Resources 142

PYMNTS

DECEMBER 4, 2018

The agencies, in tandem with the Financial Crimes Enforcement Network (FinCEN), said they “recognize that private sector innovation” that builds on existing tools or embraces new technologies can help banks identify and report money laundering , terrorist financing and other illicit activities. financial system.”.

Innovation 161

Innovation Regulation Compliance Idaho 161

PYMNTS

FEBRUARY 11, 2020

And as financial regulations expand to combat financial crime, many financiers have found trade finance is simply too expensive to underwrite as a result, leading to either higher costs for global traders or banks pulling back from trade finance altogether. . Technology’s New Approach To Trust. ” Lower Trust, Higher Costs.

Technology 132

Technology blockchain Fraud Resources 132

PYMNTS

DECEMBER 19, 2018

securities regulator is having trouble with rating agencies because it doesn’t have the tools or specific knowledge it needs to analyze huge amounts of rating data, according to a report from Reuters. Kimberly Earle, a former team leader at DERA, said there are many unanswered questions about the directive.

Regulation 128

Regulation Data Analysis Compliance 128

Abrigo

JUNE 14, 2021

While there is no one-size-fits-all, the guidance states that a holistic top to bottom review is necessary to identify areas where to use valuable resources to mitigate those risks. It is the organization’s responsibility to enhance its program, including all program-related software, systems, and other technology. Learn More.

Compliance 370

Compliance Training Resources Policies 370

PYMNTS

DECEMBER 13, 2018

Recently, though, many CUs have turned to technology-driven solutions to help members more efficiently communicate their needs and feedback. CUs are also actively communicating with law enforcement agencies, keeping regulators informed about suspicious activity, while receiving tips on noticeable trends that these same agencies are eyeing.

Regulation 135

Regulation South Dakota ATM New York City 135

PYMNTS

JANUARY 12, 2020

Wells Fargo is striving to revamp its approach to technology to ensure systems stay online, satisfy regulators and block cybercriminals, the Wall Street Journal (WSJ) reported on Saturday (Jan. He said repairing problems pointed out by regulators is his “first priority.”

System 147

System Regulation Resources Meeting 147

PYMNTS

JANUARY 18, 2018

The regulatory pressures on banks is not only fierce, it’s also continually changing, forcing financial institutions (FIs) to invest vast resources to stay on top of evolving rules. But according to a new report from EY, it would be unfair to say that regulation is the only driving force behind large banks’ changing market strategies.

Regulation 156

Regulation Innovation Fintech Marketing 156

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

Abrigo

FEBRUARY 8, 2024

Takeaway 3 Numerous resources can help banks and credit unions offer training on fraud to help customers or members recognize scams and avoid theft. Fraud schemes, evolving with technology, are more sophisticated and more complex to detect. Fraudsters have adjusted their tactics as technology has changed.

Fraud 195

Fraud Resources social media Software 195

Abrigo

JULY 11, 2017

Second, Shelat recommends that “banks should ascertain whether their existing software platforms for small business loan applications and small business loan servicing is capable of collecting this data, and if not, determine what kind of technology upgrades would be necessary to collect and maintain this information.”

Regulation 150

Regulation Memphis Tennessee Lending 150

Perficient

FEBRUARY 4, 2021

Technology maturity, opportunity cost, fast-changing regulations, delays, failed POCs, and more are roadblocks an experienced partner can help guide you through. They bring together their data and analytic resources to deliver business impact, typically for core business capabilities and customer engagement.

System 531

System Data Analytics Resources 531

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

CFPB Monitor

JULY 22, 2016

As we have reported , the Consumer Financial Protection Bureau (CFPB) released a final rule amending Regulation C, which implements the Home Mortgage Disclosure Act (HMDA), requiring “Covered Institutions” to report certain information about mortgage applications and loans in efforts to create transparency in the mortgage lending process.

Resources 60

Resources Data Lending Regulation 60

Abrigo

DECEMBER 28, 2022

You might also like this list of the year's top resources for FinCrime professionals. Abrigo, a leading technology provider of software solutions for financial institutions, published more than 85 unique articles on its industry-focused blog in 2022. A lack of understanding, in turn, can affect much-needed resources.

Fraud 195

Fraud Training Compliance Regulation 195

Abrigo

OCTOBER 19, 2023

Launched to provide resources Cybersecurity Awareness Month was launched in 2004 by the National Cybersecurity Alliance (NCA) and the U.S. Department of Homeland Security (DHS) as a collaborative effort between government and industry to ensure every American has the resources they need to protect themselves from cyber threats.

Online 221

Online Security Resources Training 221

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. . Technological advances in transaction monitoring. DOWNLOAD .

Software 195

Software Resources Training Compliance 195

Abrigo

AUGUST 7, 2023

Takeaway 3 Enlisting alternative staffing resources and investing in AML software that reduces manual labor are two additional strategies to ease staffing changes. By performing a thorough staffing assessment of your AML and fraud teams, you understand the resource needs to meet all quality and regulatory expectations.

Training 195

Training Fraud Leadership Resources 195

Banking Exchange

NOVEMBER 16, 2022

Fair lending compliance is a critical risk area for banks today, with scrutiny from government regulators only intensifying Compliance Feature Human Resources Technology Feature3 Core Systems Compliance Management Compliance/Regulatory Mortgage Credit Mortgage Mortgage Compliance Mortgage/CRE.

Compliance 78

Compliance Resources Lending Regulation 78

Perficient

FEBRUARY 29, 2024

Driven by technological advancements, regulatory changes, and shifting consumer preferences, the banking industry must evolve and respond accordingly. To address this, institutions are increasingly turning to technology-driven solutions aimed at enhancing service reliability, compliance, and security.

Trends 221

Trends Industry Analytics Compliance 221

Abrigo

FEBRUARY 22, 2024

Despite this alarming trend, many institutions cite resourcing and the capacity of their fraud team as the main hurdles keeping them from prioritizing check fraud defense. Emerging technologies such as AI and ML can help by quickly identifying patterns and anomalies that detect check fraud.

Fraud 195

Fraud Trends Training Maine 195

PYMNTS

DECEMBER 5, 2017

Data management is becoming an increasingly pressing concern for most financial institutions, as bank regulations continue to shift around the globe, according to new research. According to the survey, nearly 70 percent admit they have grievances with multiple legacy products, which are build on varying technologies with “inflexible” support.

Regulation 100

Regulation Management Data Survey 100

Abrigo

FEBRUARY 6, 2024

Yet despite warnings about the high prevalence and high costs of check fraud, many banks and credit unions operate without systematic fraud prevention programs or lack the technology to combat check fraud. Update your board about AML/fraud threats with this infographic: "5 Fraud typologies impacting you and your customers."

Fraud 221

Fraud Training Trends Regional 221

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

Abrigo

SEPTEMBER 11, 2023

DOWNLOAD Takeaway 1 With generative AI technology improving by the day, the question is not if the banking industry will utilize it, but when. Takeaway 3 Financial institutions should resist the hype to apply the technology to their most complex problems and be strategic as AI improves. So, what is generative AI?

Risk Management 195

Risk Management Data Technology Fintech 195