The Payments Association

JANUARY 29, 2025

Inadequate risk management and due diligence : Institutions faced challenges in ensuring effective customer risk profiling and due diligence, particularly for high-risk clients and correspondent banking relationships.

Financial Crimes 88

Financial Crimes Crime Due Diligence Money Laundering 88

Fi911

DECEMBER 19, 2023

As digital banking services grow in popularity, the unfortunate byproduct is a corresponding rise in fraud. The rapid evolution of technology and the escalating demand for online banking services have made machine learning (ML) an invaluable asset in preemptively tackling fraud risks. The resounding answer is yes.

Fraud Prevention 98

Fraud Prevention Fraud Detection Point-of-Sale (POS) Online and Mobile Banking 98

Fintech News

JULY 4, 2024

In payments, AI-powered systems can enhance fraud detection and streamline cross-border transactions, potentially revitalising correspondent banking relationships that have dwindled due to regulatory pressures. This could help address the decline in correspondent banking relationships, a concern highlighted in the BIS report.

Central Bank 104

Central Bank AI Correspondent Bank Correspondent 104

FICO

FEBRUARY 15, 2021

Making FICO Siron the automated system for monitoring suspicious activity in transactions related to correspondent banking services. Deciding to use FICO Siron solutions to mitigate risk coming from bribery and corruption. Correspondent banking relationships increase money laundering and terrorist financing risks,” said Skalistiri.

Money Laundering 52

Money Laundering Regulatory Compliance Correspondent Bank AML 52

Global Fintech & Digital Assets

DECEMBER 11, 2023

Covered financial institutions now face heightened expectations in relation to cybersecurity governance, risk assessment, and incident reporting. Risk assessments should also be reviewed whenever a new business model is adopted or a new product is introduced.

Cybersecurity 59

Cybersecurity Multifactor Authentication Risk Assessment MFA 59

Seon

MARCH 20, 2024

However, this expansion brings a corresponding need to evolve fraud prevention strategies to keep pace with advancing threats. Beyond detecting fraud in onboarding circumstances, digital footprinting offers profound insights into risk assessment by facilitating a deeper data-driven understanding of a user’s digital behavior.

Fraud Prevention 98

Fraud Prevention Assessments Phishing Mitigation 98

The Payments Association

MAY 16, 2025

The FCA’s final guidance, issued in April 2025, outlines “reasonable procedures,” including fraud risk assessments, internal controls, staff training, and governance oversight. Next steps/action required: Conduct a comprehensive fraud risk assessment across all channels and partners.

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

FICO

MARCH 23, 2021

In our experience, we typically see that the breakdown is being driven by risk tolerance and discomfort from two basic kinds of risks: (1) authentication fraud prevention (2) credit risk assessment. Does the friction in your digital channel correspond to the perceived risk level of the transaction / application?

Risk Assessment 52

Risk Assessment Duplicate Fraud Prevention Risk 52

FICO

NOVEMBER 1, 2017

With all the hype around artificial intelligence, many of our customers are asking for some proof that AI can get them better results in areas where other kinds of analytics are already in use, such as credit risk assessment. My colleague Scott Zoldi blogged recently about how we use AI to build credit risk models.

Credit Risk 71

Credit Risk Risk AI Assessments 71

FICO

FEBRUARY 9, 2021

IWT risk must be part of a bank’s risk framework and their AML risk assessment, e.g., by adding high-risk sources (Africa, South America), transit (EU), and destination countries (see above). To learn more about how FICO helps organizations fight financial crime visit our website , and connect with me on LinkedIn.

Money Laundering 52

Money Laundering Crime Due Diligence Financial Crimes 52

Finovate

MARCH 29, 2024

. “We’ve seen a rapid proliferation of AI technologies and corresponding AI regulations, but a precise and actionable blueprint for how companies can effectively govern AI and comply with regulations has yet to hit the market,” Mine CEO and co-founder Gal Ringel said.

Verification 69

Verification Privacy AML AI 69

Seon

SEPTEMBER 20, 2023

Carry out an initial risk assessment to determine if there are any reasons to question the person’s legitimacy. This allows the organization to determine the individual’s risk level to inform future due diligence procedures, such as anti-money laundering (AML) or fraud prevention regulations.

Process 52

Process Due Diligence AML Verification 52

FICO

OCTOBER 31, 2017

With all the benefits of artificial intelligence, many of our customers are wanting to leverage machine learning to improve other types of analytic models already in use, such as credit risk assessment. My colleague Scott Zoldi blogged a few years ago about how we use AI to build credit risk models.

Credit Risk 52

Credit Risk Risk AI Regulations 52

EBizCharge

JULY 15, 2024

Additional billing methods Beyond arrears billing and payments in advance, businesses and clients can utilize other billing methods, depending on the nature of their transactions, trust levels, and risk assessments.

Disputes 52

Disputes Payer Legal Service Provider 52

Exact Payments

JANUARY 4, 2024

Keeping a documented list of all users requiring access to the card data environment, along with their corresponding roles, is crucial for merchants and service providers. It includes regular updates, formal risk assessments, and a designated person or team to manage its implementation.

PCI DSS 52

PCI DSS Compliance Audit Encryption 52

FICO

MAY 22, 2017

While a few have been critical that it was not bold enough, most reviewers seem to be endorsing the main message, both for what it does (initiating broad self-assessments by agencies), and for what it does not do (consolidate all accountability in the DoD). Full disclosure: I’m accountable for growing the cybersecurity business line at FICO.

Cybersecurity 45

Cybersecurity Risk Assessment Assessments Risk 45

The Payments Association

MAY 14, 2025

Rewiring the cross-border payments paradigm: Risk and security in correspondent banking confirmation May 12 2025 by Payments Intelligence LinkedIn Email X WhatsApp Whats the article about? Yet much of the system still hinges on a half-century-old correspondent banking model and a fragmented regulatory landscape.

Cross-Border Payments 88

Cross-Border Payments Correspondent Bank Cross-Border Correspondent 88

M2P Fintech

APRIL 29, 2025

Irregularities in Credit Risk Assessment- Credit risk assessment is critical in microfinance to ensure that loans are extended to creditworthy borrowers. This app supports seamless onboarding of borrowers, whether sourced by Business Correspondents (BCs) or directly by the institution.

Technology 52

Technology Assessments Risk Assessment Compliance 52

The Payments Association

MAY 19, 2025

Next 4 – 6 months: Begin Part 4A application preparations including safeguarding policies, risk assessments, governance enhancements, and audit plans. Recommended 612 month compliance milestones: Next 1 – 3 months: Map all cryptoasset activities to the new regulated categories.

Compliance 88

Compliance Stablecoins Regulations Payments 88