article thumbnail

Beyond KYC: How Technology is Transforming the Fraud Prevention Game

Fintech News

Built around documentation verification and static data checks, these processes are essential for regulatory compliance. Toward a Smarter, Safer Future The evolution of fraud tactics demands a corresponding evolution in defense. Traditional KYC checks are increasingly falling short in the face of modern fraud.

article thumbnail

RT2: A strategic transformation for UK payment providers

The Payments Association

Pegeman Khorsan Chief legal and regulatory officer, RTGS.global "With new, ecosystem role-specific software, the structured data approach in RT2/ISO 20022 represents a competitive advantage in risk decisions and compliance, materially reducing costs, time, and errors.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Empowering Financial Institutions: An Interview with the CEO of Almond FinTech

Fintech Review

At Almond, security and compliance are foundational to our mission of fostering secure and transparent cross-border payments. Regulatory compliance in all jurisdictions where partners are, including regular contact with Central Banks and other regulatory authorities.

article thumbnail

Future of Loan Management Systems: Predictions for the Next Decade, 2025-2035

M2P Fintech

Smart Contracts: Self-executing agreements streamline loan distribution, repayment, and compliance, cutting costs and speeding up transactions. Identity Verification: Provides a secure digital identity, simplifying verification and enhancing regulatory compliance.

article thumbnail

Insurtech’s Biggest Emerging Trends: AI, Cloud Architecture, CX and Modernisation

The Fintech Times

The Gen-AI in customer service or written correspondence is fine, but using advanced models in the applications that drive profit is starting to worry insurers, and regulators! This allows for more responsive and precise pricing strategies while ensuring regulatory compliance.

AI 51
article thumbnail

Deep Dive: How Regulatory Compliance Tools Help Keep Remittances Flowing

PYMNTS

Reducing fees for remittances might push price points low enough that more consumers could resume sending money home, though, and some researchers believe that money transfer service providers could make such price adjustments if they are able to reduce their own expenses through more robust and cost-effective regulatory compliance measures. .

article thumbnail

U.S. Faster Payments Council Explores the Practicalities of Cross-Border Payments in a Faster Payments World

Fintech Finance

It explores the challenges faced by financial institutions in correspondent banking relationships, shedding light on regulatory compliance, security concerns, foreign exchange rate risks, and the impact of fintech players entering the field.