The Payments Association

MARCH 19, 2025

Optimus Prime,Transformers(2007) In the epic battle for the future of banking, financial institutions stand at a crossroads, much like the Autobots facing the Decepticons. Legacy core banking systems, monolithic and rigid, are the relics of a bygone erastable yet inflexible, like ancient Cybertronian relics buried beneath rust and time.

Non-Bank 88

Non-Bank Regulatory Compliance AI Risk 88

Fintech Finance

MARCH 14, 2024

He brings a comprehensive regulatory understanding and supervisory experience to solidify Flutterwave’s dedication to upholding the highest regulatory, compliance, and governance standards. Presently, he chairs the Board Audit and Governance Committee of United Capital Plc.

Non-Bank 52

Non-Bank Audit Compliance Governance 52

FICO

MARCH 6, 2020

In this excerpt from that article, Jürgen elaborates on the importance of compliance. . A partnership aimed at helping banks, payment providers and fintechs meet the ever stronger regulatory demands while reducing effort and expense. . What do you do? Why is it so hard? In the U.S.

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

The Payments Association

MAY 16, 2025

For merchants, this represents a fundamental compliance obligation with both legal and commercial dimensions. Non-compliance could lead to regulatory enforcement by national authorities, as well as reputational harm and potential exclusion from EU markets. Engage with PSPs and terminal providers to confirm EAA readiness.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

Nanonets

SEPTEMBER 18, 2024

  From multinational banks and big accounting firms to local insurance agencies and small healthcare providers, businesses of all sizes process hundreds and thousands of financial documents daily. Financial document automation is not just changing the game – it's rewriting the rules. 

Automation 52

Automation Audit Payment APIs and Integration Compliance 52

Nanonets

APRIL 29, 2024

This software enables finance professionals to compare and match transactions and balances recorded in the general ledger with external sources such as bank statements, vendor invoices, and other financial documents. Risk Management : Accurate and timely reconciliation is critical for effective risk management.

Reconciliation 52

Reconciliation Payment APIs and Integration Audit Regulatory Compliance 52

Fi911

NOVEMBER 7, 2023

In the intricate world of banking and finance, maintaining the sanctity and security of transactions is paramount. Why is it non-negotiable for financial institutions across the globe, and how can you ensure that your institution is compliant with all AML procedures? But, what does AML entail?

AML 52

AML Compliance Money Laundering OFAC 52

Fintech Finance

JANUARY 30, 2024

AccessPay , the leading provider of bank integration, today announced the addition of Confirmation of Payee (CoP) and Sanctions Screening capabilities to its Fraud & Error Prevention Suite 1 , launched in 2023.

Payee 52

Payee Money Laundering Non-Bank Checks 52

The Payments Association

FEBRUARY 10, 2025

It highlights new corporate responsibilities, significant penalties for non-compliance, and the businesses need to implement strong fraud prevention measures to protect their financial and reputational standing. Why is it important? What’s next?

Crime 88

Crime Fraud Prevention Risk Assessment Due Diligence 88

Nanonets

JUNE 23, 2023

It involves comparing the balances of various accounts listed in the balance sheet to external documentation, such as bank statements and general ledger entries. This section outlines the steps involved in reconciling balance sheets to ensure accuracy, completeness, and compliance.

Reconciliation 52

Reconciliation Audit Financial Analysis Adjustments 52

Nanonets

APRIL 1, 2024

Introduction In both personal and business finance, the management of outstanding checks and thorough bank reconciliation practices are important for maintaining financial hygiene. An outstanding check is a payment yet to be cashed or deposited, remaining within the bank's clearing cycle. What is Bank Reconciliation?

Reconciliation 52

Reconciliation Checks Automation Process 52

Nanonets

APRIL 2, 2024

Importance of bank reconciliation in internal control In the world of finance and accounting, accuracy is key. Bank reconciliation is a fundamental process that ensures the alignment of internal records with external bank statements. What Is a Bank Reconciliation?

Reconciliation 52

Reconciliation Adjustments Automation Regulatory Compliance 52

The Fintech Times

SEPTEMBER 4, 2024

.” Changing state to state For firms in the US, a fragmented regulatory landscape across states can also leave roadblocks for compliance teams to overcome explains Gale Simons-Poole , chief risk officer at BHG Financial. ” The post What are the Biggest Challenges Facing Compliance Teams?

Compliance 64

Compliance Rules Regulations Laws 64

Nanonets

JULY 21, 2023

In addition to accelerating the reconciliation process, reconciliation software also enables an audit trail, significantly improving transparency and accountability. Once approved, the reconciled data is securely stored in a centralized database, ensuring an auditable trail.

Reconciliation 52

Reconciliation Payment APIs and Integration Automation Online and Mobile Banking 52

M2P Fintech

FEBRUARY 25, 2025

By leveraging Loan Management Software , lenders can streamline operations, deliver personalized services, ensure regulatory compliance, and scale effortlessly to meet the demands of a diverse and growing customer base. This proactive approach minimizes the risk of legal penalties and ensures lenders stay on top of regulatory changes.

Payment APIs and Integration 52

Payment APIs and Integration Compliance Automation BNPL 52

Nanonets

MARCH 4, 2024

Fraudulent Claims Intentional Misreporting Submission of non-business-related expenses as business expenses. Regulatory Compliance Risks Inadequate Documentation Failing to meet the detailed documentation requirements set by tax authorities. Duplicate Claims Employees submitting the same expense for reimbursement more than once.

Process 52

Process Compliance Automation Audit 52

Nanonets

FEBRUARY 28, 2024

This process not only supports informed decision-making but also enhances operational efficiency, regulatory compliance, and overall business performance. This documentation is invaluable for compliance, future reference, and enhancing the transparency of the reconciliation process. Why is Data Reconciliation important?

Reconciliation 52

Reconciliation Process Audit Compliance 52

Nanonets

NOVEMBER 15, 2023

Cheques, money orders, bank drafts — you name it. They'd have to keep track of these payments, cross-checking against bank statements and resolving discrepancies when they arise. It can integrate with your existing bank or payment processor to facilitate smooth and secure payments.

Accounts 52

Accounts Payment APIs and Integration Audit Automation 52

FICO

JANUARY 25, 2022

As an example, almost half (43%) of respondents say they have no responsibilities beyond regulatory compliance to ethically manage AI systems that make decisions which may indirectly affect people's livelihoods. Yapi Kredi understands the value of monitoring and managing every component that goes into making a decision.

Posting 52

Posting AI Government Governance 52

Nanonets

JANUARY 17, 2024

Now, you might be thinking, "We've got this covered with our trusty spreadsheets and quarterly audits." Regulatory Compliance – Don’t Mess with The Law : Automated expense management ensures that you're always on the right side of the law, avoiding costly legal pitfalls.

Payment APIs and Integration 52

Payment APIs and Integration Compliance Automation Audit 52

Nanonets

JULY 28, 2023

Financial Data Management: Document workflow automation is essential in industries such as banking, insurance, and other fin-organizations. Audit trails track document views, access times, and modifications, improving document security. This helps maintain data security, confidentiality, and regulatory compliance.

Disaster Recovery 52

Disaster Recovery Automation Procedures Compliance 52

Nanonets

FEBRUARY 28, 2024

Ready for an Audit: If one is audited by the IRS (Internal Revenue Service), it will be simple to formulate the audit since your monetary records are all in one spot. 02/04/24 Bank Loan - ABC Bank, Loan #987654 104 5000.00 Bank Reconciliation : Tools to match bank transactions with GL entries.

Automation 52

Automation Payment APIs and Integration Accounts Transactions 52

Segpay

MARCH 10, 2025

Moreover, these gateways support various payment methods, including credit and debit cards, e-wallets, and bank transfers, making it convenient for gamers to choose their preferred options. Transaction Authorization: The processor communicates with the player’s bank or payment provider to verify and approve the transaction.

Payment Gateways 40

Payment Gateways Gateways Payment Solutions Payment APIs and Integration 40

Nanonets

SEPTEMBER 27, 2024

Similarly, Tax Forms (depending upon geographic location, for example, Income Tax Returns for India and 1099 and W2 forms for the US among others) and bank statements undergo data extraction and this data is made accessible. Manual processes increase the risk of non-compliance with regulations dramatically.

Process 52

Process Underwriting Automation Database 52

Nanonets

MAY 7, 2024

Just like balancing a chequebook or tallying up receipts to match your monthly bank statement , expense reconciliation helps ensure that all of a business’ expenses are properly accounted for and recorded. This process helps identify discrepancies such as missing transactions, bank errors, or unauthorised withdrawals.

Reconciliation 52

Reconciliation Best Practices Credit Cards Compliance 52

Nanonets

FEBRUARY 26, 2024

Regulatory Compliance: Adhering to the terms of accounts payable helps in complying with financial regulations and avoiding penalties associated with late payments or financial misreporting. Reconciliation: Labor-intensive process of matching bank transactions with ledger entries.

Automation 52

Automation Accounts Payment APIs and Integration Process 52

Nanonets

JULY 12, 2024

Financial Statements : Banks and financial institutions can extract account numbers, transaction details, and balances, enhancing their analysis and reporting capabilities. Improved Compliance : Maintain consistent data handling across all forms. Generate audit trails automatically for regulatory compliance.

Process 52

Process Best Practices Automation AI 52

The Fintech Times

JANUARY 12, 2024

“Technology is not a nice-to-have for Generation Z entering the workforce, rather, it’s seen as non-negotiable. In areas such as bank-to-bank financial crime discussions, or customer interactions, much remains omnichannel and unstructured. ” The post What Are the Biggest Benefits That AI Can Offer Fintech Firms?

AI 111

AI FinTech ISO 20022 Fraud Detection 111

The Finance Weekly

DECEMBER 1, 2024

The idea is to compare two sets of records—your internal records (like your company’s general ledger) and external ones (like bank statements or vendor invoices). For example, if your internal records say your bank account has $10,000, but your bank statement shows $9,800, you’ve got a discrepancy.

Reconciliation 130

Reconciliation Accounts Adjustments Credit Cards 130

Finovate

FEBRUARY 4, 2025

CyberUpgrade CyberUpgrade automates ICT security and compliance, transforming paper processes into resilience. Built by CISOs, it streamlines audits, risk, and vendor management and fosters cybersecurity awareness. Intrepid Fox Intrepid Fox makes onboarding for banks and fintechs 10x faster.

Regulatory Compliance 52

Regulatory Compliance Credit Union AI Compliance 52

EBizCharge

MARCH 21, 2025

Tax prep: Ensures compliance with tax laws. Auditing: Reviews financial records for accuracy and compliance. Accounting practices include preparing financial statements, reconciling bank statements, and managing accounts receivable (AR) and payable (AP). Budgeting: Helps create financial plans for future expenses.

AI 52

AI Accounts Fraud Detection Audit 52

M2P Fintech

APRIL 29, 2025

These institutions offer more than just microloans; they also provide savings accounts, insurance products, and other financial services designed for low-income individuals and micro-entrepreneurs who otherwise lack access to basic banking. This end-to-end management helps improve collection efficiency and portfolio health.

Technology 52

Technology Assessments Risk Assessment Compliance 52