EBizCharge

JANUARY 16, 2025

Tax reporting and compliance: MCCs aid in tax reporting and compliance with regulatory bodies like Payment Card Industry Data Security Standards (PCI DSS) and Anti-Money Laundering (AML). MCCs enable businesses and regulatory bodies to maintain accurate financial records, streamline tax reporting, and reduce the risk of non-compliance.

Credit Cards

Finextra

JUNE 2, 2025

Even financial inclusion got a boost – lenders began using alternative data via open banking to underwrite those with thin credit files, and mobile apps brought services to those who were previously underserved. Innovation quickened as data silos fell, and consumers benefited from personalized, convenient tools built on aggregated data.

Finance

Finextra

AUGUST 1, 2025

KYC, AML and compliance document processing: How RAG assists in document summarisation and matching This is an AI use case that is likely familiar. Last year, financial organisations in the US paid over $3 billion in AML penalties alone. Manual processing of complex documents also increases errors, resulting in financial penalties.

FinTech

Finextra

AUGUST 7, 2025

Financial institutions across the globe have embraced artificial intelligence and machine learning to improve processes including Know Your Customer (KYC) and Anti-Money Laundering (AML) efforts, transaction and payment screening and monitoring services, and more.

AI

Payments Dive

JULY 11, 2025

Current FHA policies “largely exclude” BNPL loans from underwriting determinations, HUD said.

BNPL

The Fintech Times

JUNE 25, 2025

AI, automation, and embedded insurance are just some of the technologies driving change in everything from underwriting and claims to customer engagement, leading many industry firms and leaders to rethink their approach.

AI

EBizCharge

NOVEMBER 12, 2024

Merchant underwriting is an essential component of the payment processing industry, ensuring the safety and security of electronic payments. This article will explore the mechanics of merchant underwriting, from the essential steps involved in the process to the factors influencing it. What is merchant underwriting?

Underwriting

Nanonets

SEPTEMBER 27, 2024

Traditional (manual) underwriting processes often struggle to keep pace with the growing complexity of modern risk assessment, data collection, and policy management. Underwriting automation can help alleviate these issues to a great extent. Here are specific underwriting processes that can benefit from automation: 1.

Underwriting

Fintech Finance

FEBRUARY 24, 2025

Backed by powerful API and SDK integration, this partnership will bring together CredAble’s industry-leading working capital tech suite and Chekk’s best-in-class KYC, Know Your Business (KYB), and Anti-Money Laundering (AML) solutions. ” said Satyam Agrawal , MD, Global Head of BaaS, SME and Analytics of CredAble.

AML

Finextra

DECEMBER 7, 2023

Cytora, the leading digital risk processing platform and Vespia, a provider of compliance data, is proud to announce Vespia’s AI powered risk analytics are now being used to enhance the underwriting process seamlessly within Cytora’s digital risk processing platform, providing commercial insurance underwriters with deeper insights into business risks (..)

AML

Stax

JANUARY 8, 2024

Common risk management strategies for PayFacs include proper merchant vetting and onboarding, transaction monitoring and fraud prevention, chargeback mitigation, KYC/AML compliance, and data breach prevention. Once the information is collected, PayFacs must render an underwriting decision to approve or decline sub-merchant applications.

Risk Management

Finovate

OCTOBER 24, 2024

Effectiv, which demoed at FinovateFall 2023, was founded in 2021 to provide an open platform that integrates a wide range of risk solutions– including identity and payment fraud controls, underwriting, Know Your Business (KYB) and anti-money laundering (AML) tools– to facilitate decisions in real-time.

Risk

FICO

MARCH 6, 2020

By combining advanced AML analytics in scoring processes and robotics in alert and case handling you tremendously improve efficiency and effectiveness in compliance. Our analytics-driven AML solution monitors transactions for unusual behavior and offers advanced link analysis, pattern recognition, profiling based detection. In the U.S.

Financial Crimes

Stax

NOVEMBER 27, 2023

If you’re starting the underwriting process and have no idea how to make sense of the complex world of KYC and all the terminology involved, you’re in the right place. From EDD and eKYC to AML to CDD, we’re going to cover everything you need to know about KYC in this article. million ($47.3 billion for its role in financial crime.

Due Diligence

PYMNTS

JANUARY 21, 2021

Standardization also is attractive for FIs, as they need to know the tech they’re embracing, complied with, for example, anti-money laundering (AML) requirements, payments speed or biometric authentication. “Transparency can play a really crucial part in streamlining the use of technologies across banks.”.

Due Diligence

PYMNTS

APRIL 2, 2020

And given there are basically no underwriting requirements — no credit check, no proof of revenue needed, and businesses need only have been open since January of this year — this offering doesn’t really much resemble any kind of loan product any banker in the U.S. That’s pretty much the underwriting piece. Speight explained.

Payroll

Segpay

DECEMBER 22, 2023

This seems fitting since the underwriting and compliance processes can be a bit of a challenge. This holiday season, I wanted to give the gift of knowledge by sharing the top common compliance questions and how the right answers could keep you off the underwriter naughty list. And in a lot of situations, that answer is “no.” “Can

Money Laundering

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. PayFacs also handle risk assessment, underwriting, settling of funds, compliance, and chargebacks. Payfacs need to have regular AML screenings and strictly implement KYC procedures.

Risk Management

PYMNTS

JANUARY 19, 2017

Identify fraud and compliance management, like KYC and AML, are also high-value propositions for the tool. From product development through underwriting, pricing, payment and collections, claims, back-office functions and risk capital, distributed ledger technology could have a hand in all phases of the insurance space.

Blockchain

FICO

JANUARY 8, 2020

Relative to that, I also predict continued strong growth for the cyber insurance market, as cyber risk underwriting continues its transition from art to science. With only about 5% of all businesses in the US covered by cyber insurance, the uptake of analytics tools for underwriting is set to blast off.

Compliance

Finovate

SEPTEMBER 17, 2024

” Prelim’s technology automates the application process, as well as internal processes such as reviewing, processing, underwriting, and servicing. Point-to-point integrations enable Prelim to orchestrate and automate KYC, KYB, and AML in real time.

Accounts

PYMNTS

APRIL 17, 2020

Open banking connectivity not only means that the information is integrated much more quickly, but it also allows lenders to expand the scope of their underwriting process beyond a few months of transaction data.

Innovation

Finovate

FEBRUARY 6, 2024

” LIberis will gain access and integrations to a global network of more than 190 data sources to streamline KYC, KYB, and AML operations and stop financial crime. To this end, Alloy’s identity risk solution automates and manages onboarding, fraud monitoring, and credit underwriting processes, reducing the amount of paperwork.

Risk Management

Nanonets

APRIL 11, 2023

Fragmented communication between borrowers, lenders, and third parties: In the absence of a unified platform, communication between borrowers, lenders, and third parties, such as appraisers or underwriters, can be fragmented and inconsistent. This includes borrower information, income, and other relevant details required for underwriting.

Origination

PYMNTS

JANUARY 20, 2017

Identify fraud and compliance management, like KYC and AML, are also high-value propositions for the tool. From product development through underwriting, pricing, payment and collections, claims, back-office functions, and risk capital, distributed ledger technology could have a hand in all phases of the insurance space.

Blockchain

PYMNTS

APRIL 23, 2020

Wielding its database of SMB information, the portal eases identification and underwriting for PPP lenders to accelerating funding. With automated know-your-customer (KYC) and anti-money laundering (AML) processes, the onboarding technology aims to reduce the regulatory and compliance burden of lenders to accelerate financing to SMBs.

FinTech

PYMNTS

APRIL 22, 2019

Know Your Customer (KYC) and anti-money laundering (AML) regulatory demands are a particularly large burden on the global trade finance landscape, analysts noted. However, both sides struggle with making trade finance profitable, and maintaining compliance.

Finance

Fintech Review

APRIL 17, 2025

It manages onboarding, KYC, AML, and cross-border reporting for both individual users and platform partners. This cross-platform intelligence can support underwriting, reduce fraud, and improve user experience. Payoneers compliance infrastructure is also a competitive strength.

Cross-Border

PYMNTS

MAY 29, 2019

The ICC pointed to Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance requirements that have also forced banks to reallocate resources and heighten risk management, similarly tightening banks’ trade financing capabilities.

Regulations

Exact Payments

OCTOBER 30, 2023

This includes end-user payment features, a merchant platform, and back-end software for managing underwriting and risk monitoring. Underwriting and onboarding: Since PayFacs aggregate all sub-merchants under their account, they are responsible for overseeing the full onboarding process and vetting accounts for potential risk.

Facilitators

Nanonets

APRIL 5, 2023

Traditional underwriting processes may not assess creditworthiness accurately for a borrower who derives income from non-traditional sources. Expanded customer base - automation and cash flow analysis before underwriting can capture new customers not serviced by traditional lenders relying solely on credit-bureau data.

Automation

Nanonets

APRIL 24, 2023

Automate your mortgage processing, underwriting, fraud detection, bank reconciliations or accounting processes with a ready-to-use custom workflow. Automate your mortgage processing, underwriting, fraud detection, bank reconciliations or accounting processes with a ready-to-use custom workflow.

Assessments

PYMNTS

DECEMBER 14, 2017

Cottrell noted that a master merchant or merchant of record takes on all the liabilities – but, in linking up with the underwriting institution, questions arise. Along with underwriting (which itself takes a lot of work) comes policies and procedures that govern KYC and anti-money laundering (AML) processes.

Facilitators

PYMNTS

AUGUST 7, 2019

At the absolute top tier, there are government-mandated AML/KYC processes to answer the question “who are you,” and credit checks to determine one’s worthiness for underwriting. As Prideaux noted, this isn’t a cut-and-dry question, because authentication and verification is a complex world.

Authentication

PYMNTS

APRIL 19, 2018

Previously, we were using a lot of rule-based systems for AML and fraud,” he said. Fraud and AML is one example, but there could be so much more. AI can help banks understand how to underwrite risk, or even help read and summarize legal documents.

AI

Exact Payments

SEPTEMBER 25, 2023

It consists of: Compliance with Financial Regulations In addition to complying with PCI DSS, you’ll need to ensure that your systems, technology, and underwriting guidelines comply with anti-money laundering (AML) laws and the Office of Foreign Assets Control’s (OFAC) regulations.

PCI DSS

CB Insights

FEBRUARY 13, 2020

‘PayFac’ technology simplifies underwriting and onboarding. Additionally, the company must underwrite risk, and is on the hook in the event of fraud or returned items. ‘PayFac’ technology simplifies underwriting and onboarding merchants. TABLE OF CONTENTS. A decade of online payments innovation.

Online and Mobile Banking