Fintech News

JUNE 23, 2024

Since the last assessment in 2014, Singapore has closely monitored ML risks, including those related to legal persons, virtual assets, and environmental crimes, to ensure timely risk mitigation. Other high-risk sectors include real estate, licensed trust companies, casinos, and precious metals.

Money Laundering 111

Money Laundering Risk Law Enforcement Crime 111

Fintech News

JULY 24, 2024

The financial sector is on the edge of a major transformation powered by continuous technological advancements. Banks must, therefore, prioritise resilience and continuity as never before. Zero Downtime ensures continuous service availability, eliminating the concept of ‘offline’ in financial services.

Finance 122

Finance Risk Mitigation Disaster Recovery Automation 122

Fintech Finance

OCTOBER 11, 2024

Bank is subject to more stringent approval processes for new bank products, services, markets, and stores to ensure the AML risk of new initiatives is appropriately considered and mitigated. Plans are in place to address the requirements and limitations contained in the consent orders, including adjustments to the Bank’s U.S.

AML 98

AML BSA Money Laundering Office of the Comptroller of the Currency 98

Fintech News

FEBRUARY 14, 2024

The trade finance industry has been aspiring for greater digitalisation, striving to tap into potential benefits such as improved transparency, efficiency, risk mitigation and support for small and medium-sized enterprises (SMEs).

Finance 128

Finance Distributed Ledger Technology (DLT) Payment APIs and Integration Legal Framework 128

PYMNTS

JANUARY 22, 2019

Crowe is addressing this friction with the rollout of its Crowe Automated Reconciliation for Healthcare tool, providing hospitals a three-way match solution between their general ledgers, patient accounting systems and banking providers. Hospitals can often struggle to manually reconcile cash flow coming from multiple sources.

Cash Management 73

Cash Management Reconciliation Risk Mitigation Automation 73

Fintech News

JUNE 5, 2024

In the IEOM award-winning paper titled “Reimagining the Management of Outsourcing Life Cycles in the Fintech Era for Financial Services,” Dr Thng, together with SMU Doctor of Engineering candidate, Tristan Lim, introduced a novel outsourcing life cycle management model tailored to address the unique nuances of financial services more effectively.

FinTech 111

FinTech Mitigation On-Demand Risk 111

The Finance Weekly

AUGUST 26, 2023

Risk of Credit/Default The risk associated with credit/default pertains to the probability of borrowers failing to meet their obligations of repaying the principal amount and the interest on their loans. AI's continuous real-time monitoring boosts business vigilance, alerting when certain limits are breached.

Risk Management 130

Risk Management Risk AI Liquidity Risk 130

PYMNTS

APRIL 9, 2019

While use of trade finance continues to climb, the International Chamber of Commerce ‘s Banking Commission has warned the financial services market that small and medium-sized business (SMB) access to trade finance is disproportionately low, as large financial institutions (FIs) pull back from the SMB borrower segment. Combining Forces.

Finance 63

Finance Underwriting Risk Mitigation Mitigation 63

Nanonets

MAY 31, 2023

This empowers finance professionals to make informed decisions about budgeting, cash flow management, investment opportunities, and risk mitigation. Communicate the benefits of AI adoption to your finance team and address any concerns or resistance well ahead of the integration.

AI 122

AI Finance Fraud Detection Mitigation 122

PYMNTS

NOVEMBER 19, 2018

With “audience,” “purpose” and “actionable” as foundations of the Playbook, the team decided on key topic areas for inclusion, including faster payments opportunities, business strategy, risk mitigation and compliance and internal impacts. The Team will meet in person again next month at NACHA’s offices in Herndon, Va.,

NACHA 63

NACHA Faster Payments Risk Mitigation Payments 63

PYMNTS

JULY 24, 2020

So it’s not exactly surprising that supply chain risk mitigation efforts can fall by the wayside. Small businesses aren’t the only ones falling short on their supply chain, supplier and third-party risk management strategies. ” Yet SMBs face even greater headwinds in their efforts to mitigate these risks.

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

PYMNTS

OCTOBER 7, 2016

“Closing the gap of what insights were utilized in extending credit, to what insights are used to continue the utilization of credit, is critical for financial institutions today.” ” Regulatory requirements, risk mitigation, security measures and borrower satisfaction all pressure banks to grasp the power of data analytics.

Origination 78

Origination Underwriting Third-Party Service Provider Risk Mitigation 78

The Fintech Times

AUGUST 9, 2024

AU10TIX , the identity verification and management firm, has unveiled a new anti-money laundering (AML) solution, in a move to help businesses ensure a safer approach to risk mitigation. The post AU10TIX Aims to Reduce Operational Risk for Businesses With New AML Solution appeared first on The Fintech Times.

AML 64

AML Risk Payment APIs and Integration Money Laundering 64

Trade Credit & Liquidity Management

MAY 12, 2025

Putting the customer on a payment plan documented by a Promissory Note can help them re-establish the cash flow needed to continue operations. You can combine a Promissory Note with other forms of risk mitigation guarantees and security. Restructuring the debt in this way can have five positive results.

Risk Mitigation 52

Risk Mitigation Liquidity Management Legal Mitigation 52

Clearly Payments

FEBRUARY 3, 2024

As BNPL continues to reshape the payment landscape, these statistics underscore its growing influence and highlight opportunities for merchants to leverage this trend to enhance customer experience and drive sales. Provide responsive customer support to address inquiries promptly and nurture positive brand relationships.

BNPL 104

BNPL Mitigation Payments Best Practices 104

The Fintech Times

JULY 29, 2024

They invest in advanced cybersecurity protocols to safeguard sensitive information and employ AI-driven algorithms for continuous monitoring and risk mitigation. “Lastly, continuous innovation and adaptability to market and regulatory changes are key.

FinTech 69

FinTech Due Diligence Cybersecurity Risk Mitigation 69

PYMNTS

APRIL 26, 2018

The growing complexity of international supply chains inevitably adds complexity to risk mitigation and increases risk exposure to all players involved. Once, a company’s top supplier-related risk may have been the threat of a vendor going out of business, or goods failing to make it to their destination on time.

Risk Management 54

Risk Management Risk Risk Mitigation Mitigation 54

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

FICO

FEBRUARY 7, 2017

Cyber-readiness is increasingly a necessity for organizations, but for insurance underwriters, evaluating an organization’s cybersecurity risk and setting the appropriate insurance premium continues to be an inexact science. To learn more, read our Executive Briefing Understanding Your Cybersecurity Posture.

Cybersecurity 51

Cybersecurity Risk Mitigation Mitigation Underwriting 51

PYMNTS

SEPTEMBER 21, 2019

They’re just a few basic rules of thumb for small business owners to help mitigate the risk of a cyberattack, according to Matrix Integration; however, as president Nathan Stallings warns, as cyberattacks become more sophisticated, so much small businesses’ mitigation tactics. ” The U.S.

Data Breach 80

Data Breach Breach Small Business Business Email Compromise 80

PYMNTS

MAY 2, 2019

A press release this week said Citi is collaborating with EY and SAS on its NextGen project, which will include the development of a risk analytics scoring engine that uses AI to address friction in reviewing global trade transactions. ”

Transactions 53

Transactions AI Cross-Border Risk Mitigation 53

Stax

JANUARY 8, 2024

As such, PayFacs need to equip themselves with an effective risk management strategy that helps them continuously monitor risks and employ appropriate risk responses if needed. TL;DR Four main types of risks come with payment facilitation: compliance risks, operational risks, transactional risks, and reputational risks.

Risk Management 88

Risk Management Risk Money Laundering Procedures 88

PYMNTS

MARCH 10, 2020

The small business credit gap is a global issue, a problem that banks and FinTechs continue to hack away at, yet one that remains stubbornly persistent. With the small business credit gap continuing to plague SMBs across Southeast Asian markets, the opportunity to fill that gap through data technology is significant.

Underwriting 77

Underwriting Small Business Value Added Service Non-Bank 77

PYMNTS

OCTOBER 30, 2020

To address this pain point, Avetta recently rolled out Avetta Financial Risk , a collaboration with Experian that allows organizations to access financial metrics about their business partners. Supply chain risk management is an increasingly important component of organizations' strategic sourcing strategies.

Risk 73

Risk Third Party Vendors Risk Management Risk Mitigation 73

PYMNTS

APRIL 27, 2016

The conversation about exposure to FX risk continues to mount alongside the strengthening U.S. More than half of treasury departments surveyed by the firm, however, say that a lack of visibility into their corporations’ exposure to this risk, as well as unreliable FX forecasts, are their top challenges.

Risk 40

Risk Risk Mitigation Mitigation Cross-Border 40

PYMNTS

OCTOBER 6, 2016

All of this has occurred as the company has continued to expand the pilot phase of its global payments innovation (gpi) initiative, thus far signing on dozens of major financial institutions to an effort aimed at streamlining cross-border payments. Since, SWIFT has reported three new cyberbreaches that occurred over the summer.

SWIFT 75

SWIFT Global Payments Innovation Cross-Border 75

Seon

JUNE 24, 2024

The rise of online transactions and evolving cybercrime tactics highlight the urgent need for strong identity risk management and monitoring. Identity theft presents significant challenges to businesses, making proactive risk mitigation essential for regulatory compliance, trust, asset protection, and operational integrity.

Risk Management 52

Risk Management Mitigation Risk Identity Theft 52

The Fintech Times

DECEMBER 9, 2023

Prepare to adapt Andrew Stevens, principle, banking and financial services, Quadient Banks will be forced to take a proactive approach to communications in order to continually comply with Consumer Duty regulations, says Andrew Stevens , principle, banking and financial services at software development company Quadient.

Consumer 111

Consumer Financial Literacy Regulations AI 111

FICO

FEBRUARY 20, 2017

Cyber-readiness is increasingly a necessity for organizations, but for insurance underwriters, evaluating an organization’s cybersecurity risk and setting the appropriate insurance premium continues to be an inexact science.

Cybersecurity 40

Cybersecurity Risk Mitigation Mitigation Assessments 40

PYMNTS

SEPTEMBER 12, 2018

These problems faced by SMBs are also shedding light on supplier payment practices and large corporates’ strategies of lengthening payment terms to their suppliers in an effort to address their own cash flow crunches. ” He continued, “Everyone says data is the new gold, the new oil. .

Finance 40

Finance Risk Mitigation Small Business Mitigation 40

The Fintech Times

JUNE 3, 2024

Together, these cross-silo voices must help design a tailored strategy to enhance productivity and address specific challenges, fostering a sense of collective ownership and contribution. Step 4: Risk mitigation Business value stems from genAI and LLMs being baked into the technological fabric of a given financial service.

AI 69

AI Risk Mitigation Assessments Consulting 69

PYMNTS

APRIL 22, 2019

That change, he continued, is largely why WesPay and 10 other payment associations formed the Center for Payments , an initiative aimed at providing the payments ecosystem with market intelligence and guidance as innovation continues to disrupt the market.

Faster Payments 63

Faster Payments Center for Payments Real Time Payments Payments 63

The Fintech Times

MAY 25, 2024

” More exposure Saleh continues: “The SEC’s move is another sign of the growing appetite for crypto ETFs and could introduce fresh demand pressure on Ethereum spot prices, since exposure to Ethereum would be opened to a wider pool of investors. This will be a prime target for hacks, attacks, and possible human error.

Bitcoin 72

Bitcoin Cryptocurrency On-Demand Risk 72

PYMNTS

APRIL 3, 2019

The cyber insurance market is an emerging sector, Sayata Labs CEO and Co-Founder Asaf Lifshitz explained in a recent interview with PYMNTS, and insurance providers are facing some tough hurdles in underwriting and risk mitigation. Technology, Partnerships Address the Gaps.

Small Business 63

Small Business Underwriting Risk Cybersecurity 63

The Payments Association

APRIL 2, 2025

” The panellists recommended cross-functional teams combining data engineers, risk specialists and operations staff to ensure AI solutions address real-world challenges. ” Takeaways As artificial intelligence continues to shape the landscape of payment fraud prevention, several key themes emerged from the discussion.

AI 88

AI Financial Crimes Deepfake Fraud Prevention 88

PYMNTS

JANUARY 18, 2019

Last month, the EU Blockchain Forum urged the European government to deploy the technology for digital identities , calling the use case “the fundamental building block, and a key area for governments to focus on to promote risk mitigation, compliance and trust in the financial system.

B2B 78

B2B Blockchain B2C Use Case 78

FICO

SEPTEMBER 16, 2020

Rules-based compliance systems continue to the be the workhorse for banks in Asia Pacific when fighting financial crime. In fact, 20 percent of respondents picked this as their principal obstacle in meeting financial crime risk mitigation targets. Investment in compliance technology.

Money Laundering 52

Money Laundering Financial Crimes AI APACS 52