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First Internet Bank automates due diligence with gen AI

Bank Automation

The $6 billion digital bank is tapping Greenlite AI’s generative AI technology solution to streamline due diligence for loan decisioning, First Internet Bank Chief Executive David Becker told Bank Automation News.

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There’s No Excuse for Lazy Customer Due Diligence Anymore, Says Trapets

The Fintech Times

They underestimate the investment they need to make in customer due diligence: Know-Your-Customer ( KYC ), monitoring transactions for foul play, and meeting regulations. They overlook the harder aspects of due diligence that aren’t easily automated. But they still make some age-old mistakes.

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Securing Your Wealth: How Cybersecurity Affects Investment Decisions

VISTA InfoSec

As an investor, due diligence in cybersecurity involves examining several areas. You can also evaluate the company’s incident response plan, employee training programs on cybersecurity, and the use of advanced security technologies. Learn more here about top investments and explore their cybersecurity measures.

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Navigating AML obligations in the age of virtual IBANs

The Payments Association

While vIBANs offer innovation in payment systems, they introduce risks like money laundering due to insufficient oversight. Payment Service Providers must strengthen due diligence, monitoring, and collaboration with regulators to address these risks. This leads to inadequate due diligence. What’s next?

IBAN 88
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Slow Onboarding Drives Client Losses in Singapore’s Banks

Fintech News

Cengiz Kiamil, Managing Director at Fenergo, commented: Cengiz Kiamil “Banks are now required to double down on client due diligence to better understand client risk as part of the countrys clampdown on AML.

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Economic Crime and Corporate Transparency Act examined: A guide to avoiding failure-to-prevent fraud measures

The Payments Association

Businesses must proactively assess fraud risks, implement adequate procedures, leverage technology for fraud detection, and foster a culture of compliance to avoid regulatory penalties. Due diligence : Ensuring employees and third parties adhere to anti-fraud policies. What’s next?

Crime 88
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Crypto Firms in Indonesia Must Rethink Their Compliance Now, Or Risk Losing Out

Fintech News

” She added on, saying that the crypto industry presents a unique opportunity to adopt AI and more technological solutions to reduce the noise and zoom in more accurately within a short period of time. The devil is always in the details; the key element in my survival guide is always stick with the basics.”