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Beyond KYC: How Technology is Transforming the Fraud Prevention Game

Fintech News

Remittance companies have leveraged these technologies to enhance anti-money laundering (AML) controls, identifying high-risk users at the earliest stages and reducing both fraud rates and compliance costs. The post Beyond KYC: How Technology is Transforming the Fraud Prevention Game appeared first on Fintech Singapore.

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Tradition and Technology: Bhutan’s Journey into Fintech and Financial Inclusion

The Fintech Times

With a GDP per capita exceeding $3,100, higher than that of many South Asian neighbours, the country has resisted rapid technological adoption. Despite its historical lag in technology adoption, recent years have seen significant government efforts to expand ICT and telecommunications infrastructure.

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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. Compliance requires proactive fraud risk assessment, the implementation of preventive procedures, and a culture of accountability.

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Fundiin Teams up With Visa to Enhance Credit-scoring Model

Fintech Finance

Although Vietnam’s digital finance market has seen rapid growth over the last few years, many consumers still struggle to access secure and high-quality financial services due to ineffective risk assessment systems. As a result, Fundiin will be able to improve processing time, increase approval rates, and lower bad debt ratios.

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Tech-Driven BNPL: How Sophisticated Technologies Are Reshaping the BNPL Market

Finextra

PayPal’s BNPL solution, Pay in 4, incorporates sophisticated fraud prevention technology and machine learning models to assess creditworthiness quickly. Among other things, Sezzle is using machine learning for customer risk assessment and to offer tailored financing options.

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Evolving money laundering risks for EMIs: Insights from the upcoming NRA

The Payments Association

EMIs must strengthen their risk frameworks, advocate for more nuanced regulation, and prepare for heightened scrutiny to avoid blanket penalties and operational disruption. Smaller PSPs are driving competition and innovation, using real-time data and the latest technology to prevent economic crime.

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Navigating AML obligations in the age of virtual IBANs

The Payments Association

Since vIBANs are often treated as extensions of master accounts rather than independent relationships, firms fail to apply appropriate risk assessment frameworks. This weakens transaction monitoring, particularly in scenarios involving third-party involvement or high-risk jurisdictions. Previous slide Next slide What are vIBANs?