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HIPAA Disaster Recovery Planning

VISTA InfoSec

Service Continuity : Ensures essential healthcare services remain operational. Regulatory Compliance : Meets requirements like HIPAA that mandate disaster recovery plans. Critical Functions: Identify key operational functions, including patient care services, IT systems managing ePHI, and supply chain systems.

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Understanding Risk Management Strategies as a PayFac

Stax

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.

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How Banks Balance New SMB Tech (Without Nixing The Old)

PYMNTS

As a digital-first bank, Axos Bank is investing in its own application programming interface (API) strategy to promote the ability for FIs to connect with third-party service providers, and enhance access to data for improved (and less risky) lending — a tall hurdle, considering small business default and failure rates.

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How to Stay Compliant with NACHA Requirements

EBizCharge

Risk management Financial institutions and third-party service providers must construct and execute a risk-based approach to detect and prevent fraudulent ACH transactions. Informational bulletins: Provides timely updates on regulatory compliance issues, operating rule changes, or fraud prevention tool enhancements.

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Expense Reconciliation: Step-by-Step Guide

Nanonets

Overall, expense reconciliation is critical to ensuring financial accuracy, regulatory compliance, fraud prevention, efficient budget management, and informed decision-making. Outsourced Reconciliation Some businesses choose to outsource their expense reconciliation tasks to third-party service providers.