Stax

JANUARY 23, 2025

The merchant underwriting process is a critical step that payment processors and financial institutions use to assess the risk associated with onboarding new businesses. Key steps include application review, risk assessment, credit checks, and compliance verification. Learn More What is Merchant Account Underwriting?

Underwriting 68

Underwriting PCI DSS Money Laundering Processors 68

The Fintech Times

FEBRUARY 6, 2025

provides decision-makers including those in private credit with data-rich intelligence that highlights key trends, risks and opportunities. The new offering combines daily credit risk modelling with agentic research to provide a dynamic, 360-degree risk assessment. Rajiv Bhat, CEO of martini.ai Notably, all martini.ai

Research 59

Research AI Risk Assessment Due Diligence 59

The Payments Association

JANUARY 13, 2025

While intended to clarify ownership rights, this approach risks prolonging uncertainty as courts struggle with defining and applying new legal principles. The concern is regarding the period of adjustment and whether this leaves firms exposed to operational and compliance risks, particularly in the absence of established precedents.

Legal 88

Legal Stablecoins Cross-Border Due Diligence 88

Stax

AUGUST 22, 2024

In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Fintech News

OCTOBER 8, 2024

Under this proposal, DTSPs must apply for a license, and MAS will assess various aspects of the applicant’s business model, financial sustainability, and adherence to international regulatory standards. The aim is to mitigate the risks associated with such businesses.

Service Provider 108

Service Provider Due Diligence AML Money Laundering 108

Neopay

DECEMBER 20, 2023

1371) will introduce notable changes in the assessment of risks associated with Politically Exposed Persons (PEPs). In the case of customers identified as domestic PEPs or having close associations with domestic PEPs, the initial risk assessment will consider them to present a lower level of risk compared to non-domestic PEPs.

Risk Assessment 52

Risk Assessment Money Laundering Assessments Regulations 52

Finovate

SEPTEMBER 4, 2024

Ncontracts has acquired Venminder, a third-party risk management SaaS platform, to enhance its governance, risk, and compliance services. The acquisition will broaden Ncontracts’ expertise in third-party risk management and strengthen its position in both SaaS and knowledge-as-a-service markets.

Risk Management 59

Risk Management Risk Due Diligence Acquirers 59

The Payments Association

JANUARY 29, 2025

The lack of clear ownership in key compliance areas, such as transaction monitoring and risk remediation, led to delays in resolving issues. Outdated or ineffective transaction monitoring systems : Institutions relied on outdated or poorly configured transaction monitoring systems that did not keep up with evolving risks.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

VISTA InfoSec

NOVEMBER 4, 2024

Conduct a DORA gap analysis Conducting a DORA gap analysis is essential for evaluating the effectiveness of your current ICT risk management and operational measures in relation to the requirements outlined in Article 6 of DORA. This means that board members must be involved in overseeing and approving all ICT risk management strategies.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Conduct a DORA gap analysis Conducting a DORA gap analysis is essential for evaluating the effectiveness of your current ICT risk management and operational measures in relation to the requirements outlined in Article 6 of DORA. This means that board members must be involved in overseeing and approving all ICT risk management strategies.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Conduct a DORA gap analysis Conducting a DORA gap analysis is essential for evaluating the effectiveness of your current ICT risk management and operational measures in relation to the requirements outlined in Article 6 of DORA. This means that board members must be involved in overseeing and approving all ICT risk management strategies.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

VISTA InfoSec

NOVEMBER 4, 2024

Conduct a DORA gap analysis Conducting a DORA gap analysis is essential for evaluating the effectiveness of your current ICT risk management and operational measures in relation to the requirements outlined in Article 6 of DORA. This means that board members must be involved in overseeing and approving all ICT risk management strategies.

Compliance 130

Compliance Third-Party Service Provider Risk Management Audit 130

M2P Fintech

APRIL 11, 2025

Due diligence was inadequate, and end-use monitoring, especially for high-value or income-generating loans, was inconsistent or missing. Additionally, the enforcement of the 75% Loan-to-Value (LTV) cap was uneven, and risk weights were incorrectly applied. Purity checks must be documented and auditable.

Due Diligence 52

Due Diligence Caps Audit Non-Bank 52

PYMNTS

JULY 24, 2020

So it’s not exactly surprising that supply chain risk mitigation efforts can fall by the wayside. A traditionally manual process involving PDF questionnaires, supplier due diligence is rarely at the top of the list when organizations are considering where to place their resources to invest in new, automated technology.

Risk 70

Risk Due Diligence Risk Mitigation Mitigation 70

Fintech News

OCTOBER 6, 2024

One major focus is on proactive prevention, where the IMC advocates for tighter regulations on corporate service providers and enhanced due diligence for non-financial sectors vulnerable to exploitation by money launderers. “The IMC’s recommendations are Singapore’s latest measures to combat ML and other financial crimes.

Money Laundering 123

Money Laundering Law Enforcement Due Diligence Financial Crimes 123

Fintech News

DECEMBER 6, 2023

The new tool, which utilises large language models (LLMs), aims to expedite the company’s “Know Your Customer” (KYC) assessments. According to Airwallex, the introduction of this generative AI technology has led to a 50 percent decrease in false-positive alerts during the KYC due diligence phase.

AI 120

AI Due Diligence Assessments Rules 120

Stax

JANUARY 8, 2024

However, several complex types of risks come along with this. Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer due diligence, and adherence to card regulations. could also be classified as operational risks.

Risk Management 88

Risk Management Risk Money Laundering Mitigation 88

Neopay

APRIL 22, 2025

As regulatory and compliance specialists for payment and e-money firms, we recognise the importance for due diligence, transaction monitoring, and robust AML controls. Compliance regimes need to respond accordingly, with risk assessments that are proactive and substantive continuous monitoring.

Money Laundering 52

Money Laundering Crime Due Diligence Financial Crimes 52

The Fintech Times

JULY 9, 2025

Between October 2018 and August 2020, Monzo was found guilty of breaching Principle 3 of the FCA’s Principles of Business: a firm must take reasonable steps to ensure that it has organised its affairs responsibly and effectively, with adequate risk management systems. Since then, the company has skyrocketed, hitting 5.8

Financial Crimes 64

Financial Crimes Crime Security Online and Mobile Banking 64

Neopay

DECEMBER 6, 2023

On 5 th December 2023, HM Treasury unveiled a revised list of high-risk third countries, aligning with the latest recommendations from the Financial Action Task Force (FATF). These changes demand immediate attention from UK-regulated firms, as they impact the application of enhanced customer due diligence (EDD) measures.

Treasury 52

Treasury Due Diligence Risk Money Laundering 52

Stax

NOVEMBER 27, 2023

Even if you’re not in the financial industry, you’ll need a payment processor or payment service provider (PSP) to start generating revenue, which means you’ll need to either have a proper risk management framework in place—or work with a PSP that has one. In the U.S.,

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

Finextra

JULY 8, 2025

The aim is to reinforce a risk-sensitive and proportionate approach to Enhanced Due Diligence (EDD) obligations, particularly when dealing with domestic PEPs, their family members, and close associates. A Smarter Approach to Risk Assessment The FCA reiterates that not all PEPs pose the same level of risk.

Money Laundering 52

Money Laundering Due Diligence Risk Risk Assessment 52

The Paypers

JANUARY 14, 2021

Financial crime screening, payment services, and KYC solutions provider Accuity has announced the availability of Bankers Almanac Enhanced Due Diligence, according to the official press release.

Due Diligence 28

Due Diligence Risk Assessment Assessments Financial Crimes 28

The Fintech Times

JANUARY 25, 2024

This is especially true for financial services organisations, which need to balance the potential risks of dealing with PEPs, as well as protecting the right to access banking service. Given the high public profile of PEPs, there are also significant reputational risks if a customer feels mistreated.

Risk 59

Risk Due Diligence Financial Crimes Money Laundering 59

Trade Credit & Liquidity Management

JUNE 11, 2025

Cyber-risks are a core vulnerability that your counterparts in Third Party Risk Management (TPRM) and Supply Chain Management (SCM) are already tracking. The fact that cyberattacks can kill SMBs should be a major credit risk consideration and concern. Lastly, Medium risk for anything in between. You should do the same.

Cybersecurity 52

Cybersecurity Breach Data Breach Small Business 52

PYMNTS

JANUARY 30, 2019

So the idea that the money laundering directive in Europe would mandate beneficial ownership as a part of enhanced customer due diligence “is, in some ways, the logical next step,” Gaddy said. Forex companies, in particular, move money as they change it from different currency types.

Due Diligence 74

Due Diligence Verification Money Laundering FinTech 74

PYMNTS

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. Automated risk management solutions can be helpful in theory.

Compliance 76

Compliance Due Diligence Risk Mitigation Risk 76

PYMNTS

FEBRUARY 28, 2019

While corporate mergers can drive business growth, they are also rife with risks and disruption for organizations, from a reshuffling of executive teams to problems with integrating complex, siloed systems from one company into another. ” Business Partners At Risk. ” Business Partners At Risk. .

Risk 65

Risk Data Breach Third Party Vendors Cybersecurity 65

PYMNTS

SEPTEMBER 28, 2020

A Risk-Based Approach To Detecting And Stopping Attacks. A strong, risk-based authentication engine assesses the risk of login and authentication for every monetary and non-monetary transaction, applying stronger authentication for riskier users,” Yuval Marco, general manager of fraud and authentication at NICE Actimize, told PYMNTS.

Financial Crimes 81

Financial Crimes Crime Due Diligence Federal Trade Commission 81

Fintech News

MAY 22, 2024

Arctic Intelligence (Australia) Headquartered in Sydney, Australia, Arctic Intelligence is a multi-award-winning regtech company specializing in financial crime risk assessment technologies. Founded in late 2015, the company provides regulated entities with tools to manage audit, risk, and compliance programs effectively.

Financial Crimes 104

Financial Crimes Crime APACS Risk Assessment 104

The Fintech Times

AUGUST 11, 2024

The review focused on how firms are adhering to crucial measures such as personalised risk warnings, mandatory 24-hour cooling-off periods, client categorisation, and appropriateness assessments. The poor In contrast, firms displaying the poorest practices failed to implement robust due diligence processes.

Compliance 69

Compliance Due Diligence Regulations Risk 69

The Payments Association

OCTOBER 11, 2024

The reforms aim to address weaknesses in safeguarding practices, reduce consumer fund risks, and enhance regulatory compliance, particularly in preventing fund shortfalls. With many firms facing supervisory interventions due to poor safeguarding, there is a strong sense of urgency. Why is it important? What’s next?

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

Fi911

MARCH 14, 2024

It can also help manage risk more effectively, and tailor fraud detection systems to the unique needs of each sales channel. This documentation helps banks assess the risk profile of the business and determine the appropriate transaction processing solutions. When Should a Bank Consider Terminating a MID?

Due Diligence 106

Due Diligence Processors Fraud Detection Money Laundering 106

The Fintech Times

SEPTEMBER 14, 2024

The emergence of AI and ML tools has enabled companies to analyse vast amounts of data in real time, detecting patterns that indicate potential compliance risks, such as money laundering, sanctions, or fraud. AI is only as smart as the data that fuels it, making it imperative to introduce policies and adhere to data quality standards.

Compliance 106

Compliance AI Process Suspicious Activity Report (SAR) 106

Stax

DECEMBER 4, 2023

An effective AML compliance program must include Know Your Customer (KYC) protocols, transaction monitoring and reporting, risk assessment and categorization, and training and awareness for staff. With AML legislation, financial institutions are required to follow strict protocols for money laundering risk management.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

FICO

DECEMBER 17, 2020

Anti-financial crimes regulations require banks to enact robust risk management frameworks, including extensive KYC due diligence, integrated safeguards for AML transaction monitoring, and sanctions screening. This includes $2.8 billion lost in exchange theft and security breaches, and $4.8

Cryptocurrency 52

Cryptocurrency Risk Financial Crimes Crime 52

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