Fintech News

MAY 29, 2024

Singapore has released an Environmental Crimes Money Laundering National Risk Assessment (NRA), highlighting the primary threats and vulnerabilities associated with it. Singapore’s law enforcement and supervisory agencies will remain vigilant and implement appropriate measures to mitigate these risks.

Money Laundering 113

Money Laundering Crime Risk Law Enforcement 113

Fintech News

JUNE 23, 2024

Singapore has released its updated Money Laundering (ML) National Risk Assessment (NRA) , highlighting increased risks in the digital payment token (DPT) services sector. The updated assessment highlights increased risks due to economic and geopolitical shifts, as well as the rise in technology-enabled transactions.

Money Laundering 109

Money Laundering Risk Crime Law Enforcement 109

Finovate

DECEMBER 16, 2024

The collaboration integrates Plaid’s open banking services with Capitalise’s Instant Offers to simplify and streamline small business funding. The partnership is designed to simplify business funding, leveraging Open Banking to offer pre-approvals to 150,000 small businesses. are embracing open banking technology.

Small Business 59

Small Business Non-Bank Risk Assessment Finance 59

PYMNTS

JUNE 20, 2017

Risk management is complex territory for many businesses, especially those with complex partnerships, vast supply chains and global footprints. There are several ways heightened data management can yield more effective risk mitigation , Hazeltree noted. One is in assessing counterparty strength.

Risk Assessment 47

Risk Assessment Assessments Risk Risk Mitigation 47

FICO

MARCH 25, 2020

Home Credit , a global non-bank consumer lender, has successfully reduced its credit risk while maintaining loan volumes and keeping approval rates steady by incorporating the FICO® Score X Data to optimize its loan process in China. They are one of our most sophisticated clients in terms of advanced analytics.”. by FICO.

Risk 97

Risk Financial Inclusion Point-of-Sale (POS) Risk Assessment 97

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 103

Financial Crimes Crime APACS Risk Assessment 103

VISTA InfoSec

NOVEMBER 12, 2024

introduces a stronger focus on flexibility and risk-based approaches, allowing businesses more options for meeting security requirements. Because it is mandated by payment card brands and banks for all businesses handling payment card data. Q2: How Often Should We Conduct PCI DSS Assessments? updates check out our PCI DSS 4.0

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

VISTA InfoSec

NOVEMBER 12, 2024

introduces a stronger focus on flexibility and risk-based approaches, allowing businesses more options for meeting security requirements. Because it is mandated by payment card brands and banks for all businesses handling payment card data. Q2: How Often Should We Conduct PCI DSS Assessments? updates check out our PCI DSS 4.0

PCI DSS 130

PCI DSS Compliance Encryption Audit 130

M2P Fintech

MARCH 24, 2025

Borrowers can now apply for loans, track progress, and make payments through digital platforms and mobile apps, eliminating the need for physical branches and banking hours. “One-click” loans become reality through instant credit assessments. For example, more accurate credit assessments lead to reduced default rates.

Payment APIs and Integration 52

Payment APIs and Integration Blockchain Regulatory Compliance Compliance 52

Fintech News

SEPTEMBER 4, 2024

These companies, which represent countries such as Malaysia, the Philippines and South Korea, are tackling challenges in sectors such as lending, banking, and business finance, leveraging innovative business models and cutting-edge technologies to boost efficiency and enhance accessibility across the financial services industry. With a US$6.6

FinTech 117

FinTech Cross-Border Payment APIs and Integration Credit Cards 117

The Payments Association

MAY 16, 2025

These developments will impact merchant compliance, cost structures, customer experience, and operational risk. Merchants should assess exposure, engage with providers, and begin implementation planning ahead of key deadlines. Next steps/action required: Conduct a comprehensive fraud risk assessment across all channels and partners.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

Global Fintech & Digital Assets

DECEMBER 11, 2023

Covered financial institutions now face heightened expectations in relation to cybersecurity governance, risk assessment, and incident reporting. Covered entities must also retain for five years all documentation supporting a certification of compliance or acknowledgement of non-compliance and remedial efforts.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59

EBizCharge

JANUARY 16, 2025

Determining interchange fees: Interchange fees are costs paid between banks for accepting card-based transactions. For example, transactions at grocery stores may accrue lower fees than luxury goods because of different risk levels and transaction types. MCCs play a role in setting these fees. MCCs help enforce these restrictions.

Credit Cards 52

Credit Cards Processors PCI DSS Fraud Detection 52

Fintech News

MAY 20, 2024

The event will explore cybersecurity careers within the banking, finance, and fintech sectors, particularly in response to the increasing frequency of cyber attacks. The session will be moderated by Urs Bolt, a Fintech and Banking Expert.

FinTech 135

FinTech Embedded Finance BNPL On-Demand 135

Stax

DECEMBER 4, 2023

The Bank Secrecy Act (BSA) establishes AML program requirements for financial institutions in the US while the USA Patriot Act lays down which entities are required to comply. As such, the Bank Secrecy Act (BSA) establishes certain AML program requirements for financial institutions in the US.

Money Laundering 88

Money Laundering Compliance AML BSA 88

Global Fintech & Digital Assets

DECEMBER 18, 2023

The proposal would subject certain large non-bank companies offering wallet and payment services to federal regulatory oversight on par with banks and credit unions. Under the Dodd-Frank Act, large non-bank digital consumer payment companies are subject to CFPB enforcement authority.

CFPB 75

CFPB Regulations Consumer Financial Protection Bureau (CFPB) Non-Bank 75

FICO

OCTOBER 26, 2016

Machine learning and AI are a prominent part of banking and processing payment cards, not just reserved for self-driving cars and computers that can win at Jeopardy. In banking, machine learning not only improves predictions, it is effective for improving subsequent decisions. Making credit decisions. FICO Score.

Risk Assessment 69

Risk Assessment Online and Mobile Banking AI Assessments 69

PYMNTS

MARCH 26, 2020

What is a bank? But as of 2020, it is a subject upon which seasoned experts can disagree, in a world where traditional banks and FinTechs are operating in parallel in the market – and, in many cases, are offering similar services for consumers.

Innovation 96

Innovation Non-Bank Venmo ATM 96

Finovate

OCTOBER 8, 2024

Plaid has launched a pay-by-bank tool for bill payments in the U.S., allowing consumers to securely pay bills directly from their bank account without manually entering their account details. The tool provides offers billers cost savings and lower risk with fewer returned payments through its risk engine, Signal.

Non-Bank 59

Non-Bank Risk Assessment Processors Returns 59

Nanonets

APRIL 11, 2023

A report by McKinsey states that by embracing digital lending processes, leading banks have brought down the “time to yes” from weeks to minutes, and “time to cash” from even longer to less than 24 hours. Manual compliance processes increase the risk of non-compliance and may result in costly fines or penalties.

Origination 52

Origination Automation Risk Assessment Underwriting 52

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. The due diligence doesn’t stop at onboarding.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

PYMNTS

FEBRUARY 8, 2019

In a reported phishing campaign that began last month, Bank Secrecy Act (BSA) officials at credit unions in the U.S. The emails were reportedly only sent to certain anti-money laundering (AML) contacts, leading some to question if the National Credit Union Administration (NCUA)’s non-public data had been accessed, Krebs On Security reported.

BSA 53

BSA Phishing NCUA Credit Union 53

PYMNTS

DECEMBER 19, 2016

16) said Lendingkart will offer its credit risk assessment technology to banks and other alt-lenders starting in 2017. According to Lendingkart Cofounder Harshvardhan Lunia, the company will look to expand its reach in the SME lending market over the next six months by having other banks use its credit risk analytics software.

Credit Risk 40

Credit Risk Risk Risk Assessment Assessments 40

FICO

MARCH 22, 2022

The pandemic impacted the financial situation of SME’s in various ways, including the need to suddenly adopt digital banking channels, arrange repayment deferrals and of course an increased need for lending; a need which is increasingly being targeted by new lenders offering a simplified digital lending process.

Posting 52

Posting Origination Small Business APACS 52

Segpay

JANUARY 30, 2025

Payment processors, PSPs, acquiring banks and payment gateways operate under strict regulations. As financial institutions, these companies must implement risk management procedures and regulatory compliance to prevent reputational and financial damage. PSPs risk association with data breaches or non-compliance issues.

Merchant Payment Processing 52

Merchant Payment Processing Processors AI Process 52

FloQast

DECEMBER 13, 2023

Combined with other issues, including panic selling, bank failures, excessive risk-taking, and economic imbalances, it created the perfect storm that led to Black Tuesday. However, the Senate Committee on Banking, Housing, and Urban Affairs was also drafting its own bill and needed help.

Compliance 52

Compliance Audit White Collar Crime Risk Assessment 52

Nanonets

APRIL 24, 2023

PDF → Excel Convert PDF bank statements to Excel  Try for Free A bank extract is data extracted from bank statements or other financial documents. This facilitates verification of customer profiles, streamlining the onboarding process, approving loans and mortgages, assessing borrower risk, etc.

Assessments 52

Assessments Automation Fraud Detection Risk Assessment 52

Nanonets

FEBRUARY 9, 2024

In addition to validating management's understanding of their responsibility, 404A also requires an objective assessment of the company's ICFR. Ignoring ICFR might lead to: Inaccurate financial statements: The most obvious outcome, improper or lacking controls, increases the risk of error or omission in financial statements.

Audit 52

Audit Risk Assessment Assessments Procedures 52

Stax

JANUARY 8, 2024

However, you are likely to come across a wide range of threats and external risks as you go about facilitating payments for your sub-merchants. This means that PayFacs need to conduct a thorough risk analysis of their sub-merchants before onboarding them so they are screened against terror financing or money laundering.

Risk Management 88

Risk Management Risk Money Laundering Procedures 88

Nanonets

APRIL 5, 2023

While access to credit is crucial for many people and companies, lenders must also protect themselves from the risk of default and ensure that they can remain financially solvent in the long run. Without proper filtering, lenders run the risk of approving high-risk borrowers, which can lead to increased loan defaults and losses.

Automation 52

Automation Process Risk Assessment Assessments 52

PYMNTS

JULY 6, 2018

While Open Banking is not exclusive to the European markets, recent PSD2 and Open Banking regulations that came into effect earlier this year offer an opportunity for other jurisdictions to learn by example. The service model of Open Banking is quickly spreading beyond EU borders.

FinTech 52

FinTech Non-Bank Regulations Risk Assessment 52

The Fintech Times

JANUARY 9, 2024

The platform, which is backed by Lloyds Bank, targets cash flow shortages, a primary cause of delayed payments in the construction sector. He joins Optimum with more than 40 years’ experience within invoice finance and the financial services, including a long stint at Lloyds Banking Group.

FinTech 59

FinTech Non-Bank Cross-Border Payments Embedded Finance 59

FICO

FEBRUARY 15, 2017

For instance, Aite Group LLC in its 2015 report Global AML Vendor Evaluation noted that “increasingly, regulators recognize that rules alone are not an effective manner of detection and are pressuring banks to include more sophisticated analytics.” Features constructed from BLists act as “fingerprints” of the customer’s account.

AML 67

AML AI SARS Money Laundering 67

FICO

JULY 29, 2020

The same argument can be extended to other industries like the one I mainly focus on, banking, wherein knowing a customer’s non-banking transactions can reveal information about customer segment, interests, and overall risk. Odds assessment of the last card to be played. Playing your best hand.

Assessments 52

Assessments Risk Assessment Non-Bank Risk 52

Neopay

JULY 23, 2024

The Financial Conduct Authority (FCA) has instructed financial firms, including banks, payment firms, and lenders, to enhance their treatment of parliamentarians, senior public servants, and their families to prevent unfair practices. Provide greater flexibility in who can approve or sign off PEP relationships within firms.

Risk Assessment 52

Risk Assessment Legal Compliance Risk 52

M2P Fintech

DECEMBER 14, 2024

From pre-qualification and loan origination to credit assessment and handover to a Loan Management System (LMS), an LOS optimizes the lending value chain. With that said, here are the critical aspects to assess when shortlisting a trustworthy LOS partner.

Origination 52

Origination Payment APIs and Integration Assessments Compliance 52

Trade Credit & Liquidity Management

MAY 1, 2025

(Photo by Christine Roy on Unsplash ) This is reflected in reports from major banks like Wells Fargo and JPMorgan Chase, which have not observed companies making large withdrawals from credit lines—a sharp contrast to the early days of the Covid-19 crisis, when businesses rushed to secure cash.

Risk Mitigation 52

Risk Mitigation UCC Mitigation Credit Risk 52