Non-Bank Regulatory Compliance Risk Assessment 
The Payments Association
FEBRUARY 10, 2025
The Economic Crime and Corporate Transparency Act 2023, specifically the “failure-to-prevent fraud” offence, and outlines how businesses can mitigate fraud risks. Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability.
Stax
JANUARY 23, 2025
The merchant underwriting process helps reduce fraud (including chargeback volume), ensures compliance with regulations, and protects financial stability in the payment processing space. Key steps include application review, risk assessment, credit checks, and compliance verification.
M2P Fintech
MARCH 24, 2025
Borrowers can now apply for loans, track progress, and make payments through digital platforms and mobile apps, eliminating the need for physical branches and banking hours. Smart Contracts: Self-executing agreements streamline loan distribution, repayment, and compliance, cutting costs and speeding up transactions.
Stax
AUGUST 22, 2024
PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks.
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.
Nanonets
APRIL 11, 2023
A report by McKinsey states that by embracing digital lending processes, leading banks have brought down the “time to yes” from weeks to minutes, and “time to cash” from even longer to less than 24 hours. Manual compliance processes increase the risk of non-compliance and may result in costly fines or penalties.
FICO
MARCH 6, 2020
In this excerpt from that article, Jürgen elaborates on the importance of compliance. . A partnership aimed at helping banks, payment providers and fintechs meet the ever stronger regulatory demands while reducing effort and expense. . What do you do? Why is it so hard? In the U.S.
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