VISTA InfoSec

JUNE 26, 2024

As an investor, due diligence in cybersecurity involves examining several areas. Such due diligence is of interest to you as an investor because cybersecurity affects the following: Regulatory Compliance Businesses with strong compliance records are safer investments, capable of mitigating risks and sustaining growth.

Cybersecurity 260

Cybersecurity Due Diligence Security Breach 260

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.

Risk Management 88

Risk Management Risk Regulatory Compliance Due Diligence 88

Finezza

APRIL 9, 2024

It involves due diligence regarding customer background by the lenders, regulatory compliance, and financial processes for the lender. The lending life cycle consists of all activities that begin at the loan application stage and culminate with the final repayment.

Best Practices 89

Best Practices Due Diligence Regulatory Compliance Compliance 89

FICO

MARCH 31, 2016

As FICO’s premiere client conference, FICO World 2016 , heads to the nation’s capital at the end of next month, it is not surprising that regulatory compliance strategies and solutions will be a hot topic of discussion. Model management continues to present financial institutions with new compliance obstacles.

Regulatory Compliance 49

Regulatory Compliance Best Practices Compliance Financial Crimes 49

Neopay

JANUARY 2, 2024

In an exclusive interview with Neopay’s Consultancy Manager, Margita Layne, we delve into the pivotal role of internal and external monitoring in ensuring regulatory compliance within the financial services sector. Additionally, Neopay tests various files to ensure that processes align with regulatory and internal requirements.

Regulatory Compliance 59

Regulatory Compliance Compliance Audit Procedures 59

The Fintech Times

AUGUST 13, 2024

PwC UK , the professional services leader, is joining forces with Cockroach Labs , a cloud-native SQL database provider for modern cloud applications, in a move to reduce the risks, costs, and complexity of regulatory compliance and mainframe modernisation.

Compliance 64

Compliance Risk Database Due Diligence 64

Segpay

NOVEMBER 26, 2024

This process, known as Customer Due Diligence/Know Your Customer (CDD/KYC) is a regulatory requirement aimed at the detection and prevention of money laundering (AML), fraud and other illegal activities. This accelerates the onboarding process and reduces fraud risk.

Verification 111

Verification Identity Theft Money Laundering Due Diligence 111

PYMNTS

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. Automated risk management solutions can be helpful in theory.

Compliance 76

Compliance Due Diligence Risk Mitigation Risk 76

The Payments Association

OCTOBER 11, 2024

The reforms aim to address weaknesses in safeguarding practices, reduce consumer fund risks, and enhance regulatory compliance, particularly in preventing fund shortfalls. With many firms facing supervisory interventions due to poor safeguarding, there is a strong sense of urgency. Why is it important? What’s next?

Due Diligence 88

Due Diligence Audit Reconciliation Compliance 88

The Fintech Times

SEPTEMBER 14, 2024

Hilary Wandall , chief ethics and compliance officer at Dun & Bradstreet “AI is beginning to play a pivotal role in streamlining certain regulatory compliance processes within the fintech industry. “Likewise, machine learning algorithms continuously learn from data, improving accuracy over time.

Compliance 106

Compliance AI Process Suspicious Activity Report (SAR) 106

Fintech News

FEBRUARY 21, 2024

Moreover, the proposed regulatory oversight on Capital Markets Service License CMSL holders conducting unregulated business activities addresses potential contagion risks, illustrating MAS’s proactive stance in mitigating systemic risks within the financial ecosystem.

Financial Crimes 113

Financial Crimes Crime Authorization Consulting 113

The Fintech Times

SEPTEMBER 19, 2024

However, risk orchestration is a process promising to help fintechs and financial institutions combine their customer onboarding, authentication and risk management processes into one place. “This is done through the integration of risk management, adaptive risk mitigation, process automation, and real-time analysis. .

Risk 59

Risk Financial Crimes AML Risk Management 59

Fintech News

JANUARY 16, 2024

Generative AI offers many applications in banking, from enhancing due diligence and risk management to streamlining legal contract generation and code writing. Unseen risks in the banking sector In 2024, banks face various familiar risks and less predictable risks.

AI 117

AI Risk Non-Bank On-Demand 117

PYMNTS

SEPTEMBER 29, 2020

Jumio said it plans to integrate Beam’s AML screening and transaction monitoring services into its KYX platform to help flag financial crime and streamline regulatory compliance. The announcement comes on the heels of Jumio’s Sept. That’s the real promise of this partnership.”.

Financial Crimes 61

Financial Crimes AML Crime Money Laundering 61

Neopay

DECEMBER 6, 2023

Skilled person reviews are an integral component of the FCA’s regulatory toolkit, initiated to obtain an independent and expert assessment of a firm’s activities. These reviews play a crucial role in identifying potential risks, ensuring regulatory compliance, and safeguarding the integrity of financial markets.

Audit 59

Audit Regulatory Compliance Financial Crimes Compliance 59

Neopay

JUNE 3, 2024

Key considerations for a successful CiC Due Diligence : Prior to pursuing a CiC, thorough due diligence is essential. This involves: Financial services register : Checking the target firm’s regulatory status. Regulatory compliance : Assess the target firm’s regulatory history.

Due Diligence 52

Due Diligence Acquirers Regulatory Compliance Assessments 52

Seon

SEPTEMBER 20, 2023

According to McKinsey, banks use up to 40% of their onboarding time on KYC and due diligence processes. Onboarding ensures the KYC process is worthwhile and well-informed by verifying the identity of prospective customers and assessing their risk level. No customer wants to encounter it when they sign up with an organization.

Process 52

Process Due Diligence AML Verification 52

Nanonets

DECEMBER 13, 2023

In addition, AI can help insurance firms evaluate risk with high accuracy by analyzing large volumes of data. 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.

AI 102

AI Process Fraud Detection Compliance 102

Segpay

OCTOBER 18, 2023

However, in most cases, the merchant is unaware of being abused by criminal gangs or transaction fraudsters and runs a tremendous risk. Hide & Seek: Transaction launderers know how to avoid detection by payment processors and regulatory authorities. They continuously change tactics and employ various methods to evade detection.

Transactions 52

Transactions Due Diligence Money Laundering Legal 52

Neopay

APRIL 8, 2024

Risk-Based Approach : Adopting a risk-based approach to customer acceptance or rejection allows for fair and effective decision-making aligned with the firm’s risk appetite.

Service Provider 52

Service Provider Due Diligence Fraud Prevention Payments 52

Neopay

MARCH 7, 2024

Risk Assessment weaknesses: Annex 1 firms have demonstrated inadequacies in conducting comprehensive Business Wide Risk Assessments and Customer Risk Assessments, leaving significant gaps in their AML frameworks. Furthermore, financial crime controls have failed to keep pace with the rapid growth of these businesses.

AML 52

AML Financial Crimes Crime Risk Assessment 52

Neopay

JULY 4, 2024

Nigel Reed, COO of Neopay Ltd, has personally supported over 100 firms in gaining authorisation from the FCA and continues to provide support to them after authorisation to help them with their AML and regulatory compliance. Thanks for taking time out to talk to us. What methods does it use for its data led approach?

AML 52

AML Due Diligence Suspicious Activity Report (SAR) Risk Assessment 52

Seon

SEPTEMBER 23, 2024

With the rise of online transactions and real-time payments, the risk of fraudulent activity has surged, putting financial institutions and businesses in a constant battle to protect their customers and themselves. This process is essential for maintaining compliance in an increasingly regulated financial landscape.

Suspicious Activity Report (SAR) 52

Suspicious Activity Report (SAR) Money Laundering Due Diligence AML 52

Seon

JUNE 29, 2023

KYT is a regulatory compliance requirement. As such, it is part of an organization’s due diligence. Transactions that can be linked to terrorist financing can be elevated from conventional AML due diligence to advanced AML due diligence.

Transactions 52

Transactions Due Diligence Money Laundering AML 52

FICO

MARCH 6, 2020

FICO brings AI and advanced analytics to risk management, fraud detection, collections and much more. As a one-stop supplier for anti-financial crime, we cover all compliance-related requirements in a truly integrated solution that breaks down financial crime risk management silos. A strong culture starts at the top.

Financial Crimes 81

Financial Crimes Crime Compliance Technology 81

PYMNTS

FEBRUARY 13, 2019

.” Indeed, researchers have found evidence that companies are struggling to manage the growing weight of KYC, anti-money laundering (AML) and other financial regulatory compliance demands. Gig workers themselves face legal risks as a result, too, according to an Uber spokesperson. ”

Money Laundering 64

Money Laundering AML Economy SWIFT 64

FICO

JULY 21, 2020

Compliance teams want to: Be compliant with anti-money laundering regulations to protect their reputation and avoid fines. Assess money laundering risk based on customer identity and geography and appropriate to the product they are looking to provide. by Frank Holzenthal.

Compliance 52

Compliance Money Laundering Regulatory Compliance Due Diligence 52

Seon

JULY 10, 2024

This monitoring occurs before a transaction is approved or processed and aims to facilitate legitimate transactions while identifying potential regulatory risks. In contrast, payment transaction monitoring ensures regulatory compliance and the proper processing of legitimate transactions.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

The Fintech Times

JULY 31, 2024

Julie Cunningham, founder and CEO of Portend As Julie Cunningham , founder and CEO of due diligence platform Portend , explains: “Fintech impact platforms often grapple with complex regulatory landscapes. Balancing regulatory compliance with innovation is critical to maintaining the trust of users and regulators alike.”

Compliance 64

Compliance AML Due Diligence Regulations 64

Fintech Finance

MAY 21, 2024

With the growing instances of online fraud, it’s essential for banks and financial institutions to mitigate potential risks, offer more accurate identity verification processes, shorten onboarding times, and improve customer experience.” and global watchlist hits and sanctions, and politically exposed persons (PEP).

UCC 52

UCC Due Diligence Payment APIs and Integration Verification 52

Finovate

APRIL 10, 2024

Banks need to ensure that their partners comply with data protection regulations and stay up-to-date on regulatory changes. To verify ongoing compliance, banks need to implement vendor management practices to oversee the compliance efforts of their BaaS providers and mitigate risks on both sides.

Due Diligence 52

Due Diligence Privacy FDIC Compliance 52

FICO

DECEMBER 6, 2019

It is the responsibility of the banks that provide those services to carry out due diligence, to meet their legal obligations under AML regulation. Technology and analytics can help streamline processes, increase transparency and reduce risk. They must understand the ultimate beneficial ownership of their customers.

AML 52

AML Checks Due Diligence Money Laundering 52

FICO

FEBRUARY 11, 2019

APC Intelidat, the credit bureau in Panama, will soon provide regulatory compliance capabilities to its customers and fight financial crime in Panama with a FICO solution. This is the beginning of our relationship with FICO, which is known worldwide for its risk management and financial crime compliance solutions.

Financial Crimes 40

Financial Crimes Crime Due Diligence Money Laundering 40

Neopay

JUNE 27, 2024

Your senior team will all need to have understand the obligations on the firm and be able to prioritise regulatory compliance and its impact across the business. Additionally, firms should stay updated on regulatory changes and developments in the payments industry.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

FICO

FEBRUARY 14, 2017

I’m going to explore the impact advanced analytics can have on the current state of regulatory compliance. RBA follows a multi-step approach: After initially assessing any risks (money laundering, tax fraud, etc.), customers are automatically categorized into a risk bucket. But it’s still too high.

AML 40

AML Compliance AI Money Laundering 40

Fintech Labs Insights

MARCH 24, 2016

You say you wanna revolution in due diligence, but would love to see the plan? OutsideIQ has leveraged its strengths in cognitive computing and natural language processing to deliver an automated due diligence solution, DDIQ. They are going through deep web content such as regulatory sites.

Due Diligence 14

Due Diligence Audit Regulatory Compliance Assessments 14

The Payments Association

SEPTEMBER 30, 2024

Merchants need to continue adapting to new payment methods, collaborate with industry peers, and stay agile in balancing innovation and regulatory compliance. This significantly reduces the risk of fraud,” Fletcher stated. What’s next?

Fraud Prevention 88

Fraud Prevention Instant Payments Alternative Payment Methods Participant 88