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The Modernization Imperative: Why Financial Services Cannot Afford Legacy System Inertia

Finextra

Implementation Considerations and Risk Mitigation Regulatory Compliance in Modernized Environments Modernization efforts must maintain regulatory compliance throughout transformation phases. This requires careful planning around data residency, audit logging, access controls, and disaster recovery capabilities.

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What Can We Learn From Payment System Failures and Global IT Outage?

The Fintech Times

Because of this, many will wonder how they can better equip themselves with tools to ensure they can mitigate the impact of problems, even if something on this scale happens again. Dafydd Vaughan, CTO at Public Digital “Companies and national governments need to be prepared and take mitigating actions to minimise their exposure.

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Hong Kong Monetary Authority Issues Guidance for Banks on Crypto Custody and Sale of Tokenised Products

Global Fintech & Digital Assets

Banks are expected to apply the follow guidance in connection with their digital asset custodial services: Governance and risk management : Prior to launching digital asset custodial services, banks are expected to undertake a comprehensive risk assessment and to implement appropriate policies and procedures to mitigate identified risks.

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6 Benefits of AI Insurance Claims Processing

Nanonets

#1: Increased Accuracy and Reduced Errors AI in insurance claims processing plays a pivotal role in enhancing accuracy and reducing errors by automating various tasks and mitigating the risks associated with manual processes. This includes addressing areas lacking expertise and implementing strategies to mitigate potential challenges. #6:

AI
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Everything You Need to Know About an Audit Trail

Nanonets

Audit trails can prevent fraud, aid in disaster recovery, and ensure compliance with regulatory agencies. Consistent oversight and adjustments are necessary to maintain an effective audit trail, and investing in cloud-based storage solutions can help mitigate storage challenges. What is an Audit Trail?

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FCA Authorisations: How are things changing? Are things improving?

Neopay

Risk management framework: Develop a robust risk management framework that identifies, assesses and mitigates key risks associated with your business operations. Provide a clear overview of your risk appetite and mitigation strategies to demonstrate a proactive approach to risk management.

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New York Bolsters Cybersecurity Requirements

Global Fintech & Digital Assets

Requirements related to business continuity and disaster recovery have also been included for the first time. Penalties for noncompliance may vary, and an extensive list of considerations and mitigating factors are provided.