CB Insights

OCTOBER 13, 2021

Elliptic , an AI-enabled cryptocurrency surveillance service provider, has raised $60M in a Series C. UK-based Elliptic captures the blockchain sector’s analytical data to provide anti-money laundering and risk resiliency services to fintech firms, government agencies, and cryptocurrency organizations. Want the full post?

Analytics 65

Analytics Compliance blockchain Tools 65

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. Certainly, the use and availability of cryptocurrencies is another emerging area that is contending with its own unique set of compliance issues, but it is also one Wingert said appears to be closing gaps in regulation.

Fraud 270

Fraud Compliance cryptocurrency Security 270

CFPB Monitor

APRIL 25, 2022

Anchorage is not any regular entity overseen by the OCC: it is a cryptocurrency custodian. As we will discuss, the timing of the Consent Order indicates that even when regulators permit crypto activities by financial institutions, they remain cautious, particularly as to BSA/AML compliance.

Compliance 78

Compliance Digital Banking Training South Dakota 78

FICO

DECEMBER 17, 2020

Cryptocurrency exchange rates have skyrocketed in the past month. According to a recent report , the total of cryptocurrency related frauds and thefts stands at a staggering $7.69b. At the same time, all top US banks now have customers transacting in cryptocurrency through virtual asset service providers (VASP’s).

cryptocurrency 52

cryptocurrency How To blockchain Analysis 52

FICO

MARCH 6, 2020

Visma Connect recently interviewed Jürgen Krieg, FICO's head of global compliance sales. In this excerpt from that article, Jürgen elaborates on the importance of compliance. . At FICO, I am responsible for planning and implementing growth strategies to develop new markets, and the expansion of our compliance business globally.

Compliance 81

Compliance Technology Fraud Analytics 81

Perficient

JUNE 25, 2024

Learning from history, he referenced the lack of regulatory controls in derivatives and financial engineering before the 2008 financial crisis, and more recently, the unregulated growth of cryptocurrencies leading to the “Crypto Winter” of 2022.

Case Study 221

Case Study Risk Management Analysis Innovation 221

CFPB Monitor

JULY 27, 2020

cryptocurrency custody services on behalf of customers, including by holding the unique cryptographic keys associated with cryptocurrency.” Through intermediated exchanges of payments, banks facilitate the flow of funds within our economy and serve important financial risk management and other financial needs of bank customers.

National 113

National cryptocurrency Risk Management Regulation 113

Banking Exchange

OCTOBER 14, 2019

Banks should not learn the wrong lessons, however Payments Technology Risk Management Financial Trends Cards Online Mobile Security Checks/Remote Deposit Capture Tech Management Operational Risk Compliance/Regulatory Cyberfraud/ID Theft Blockchain Fintech Feature Feature3.

cryptocurrency 60

cryptocurrency Company Risk Management Compliance 60

Abrigo

DECEMBER 19, 2022

Given the demands of day-to-day duties, however, it can be challenging for BSA officers and other financial crime compliance staff to find time for training and education on fraud and money laundering. A strong culture of compliance should be reflected in MA& plans, and critical areas should be considered. From crypto to cannabis.

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Resources Training Fraud Compliance 195

PYMNTS

DECEMBER 10, 2018

Facebook already has about a dozen people working on blockchain and cryptocurrency. Facebook CEO Mark Zuckerberg has been vocal about his support of cryptocurrency and blockchain, and the potential to use them to “take power from centralized systems and put it back into people’s hands.”.

blockchain 177

blockchain social media cryptocurrency Risk Management 177

PYMNTS

SEPTEMBER 30, 2018

1) that IdentityMind’s pioneering compliance, risk management and fraud prevention platform has integrated CipherTrace ’s digital currency risk assessment technology. Working together with CipherTrace, we bring transparency, integrity and compliance to the world of virtual currencies.”.

Compliance 144

Compliance cryptocurrency Risk Management Fraud 144

PYMNTS

NOVEMBER 2, 2020

During phase one, VASPs will have to demonstrate their compliance with these standards, according to the release. And, Huobi Group expanded its support for cryptocurrency purchases via Visa and Mastercard on Huobi Global , its digital asset exchange, now allowing cardholders to access a seamless fiat-to-crypto gateway.

Bitcoin 160

Bitcoin Policies Groups cryptocurrency 160

PYMNTS

JULY 27, 2020

Australia and Singapore … rolling out Revolut’s banking operations in Europe … strengthening risk management and compliance … multiple new product launches … $580m in new equity … and customer base up around 2.5x!” On July 15, Revolut began offering customers a way to buy cryptocurrency.

United States 140

United States Leadership Risk Management California 140

PYMNTS

NOVEMBER 26, 2019

Compliance with market standards and regulations allows us to provide our clients with legal security and convenience of using the exchange, with the participation of a friendly banking system and the availability of payment operators,” BitBay said. As a licensed exchange, BitBay has to follow the market standards.

Bitcoin 141

Bitcoin ATM Risk Management Compliance 141

Abrigo

FEBRUARY 25, 2022

Overall, banks, credit unions, and NBFIs should modernize their BSA/AML programs with appropriate risk-based innovative solutions to streamline those processes and use resources efficiently and effectively. 10 NBFI AML Compliance Essentials. According to a 2021 Crypto Crime Report ? Learn More. BSA Rules and Regulation. BSA Training.

Regulation 195

Regulation Policies Compliance Washington 195

CFPB Monitor

NOVEMBER 29, 2021

The 2022 clarity promised by the “roadmap” presumably will supersede, once issued, Interpretive Letter #1179, which appears to function as a general stop-gap until the 2022 publications hopefully provide more detail regarding exactly how banks can attain compliance. Federal banking regulators have been busy in this space.

Compliance 78

Compliance cryptocurrency Regulation FDIC 78

CFPB Monitor

AUGUST 1, 2022

On July 18, the Federal Housing Finance Agency (“FHFA”) announced the launch of a new Office of Financial Technology with the goal of advancing effective risk management as it evaluates fintech developments in the housing finance space. In the introduction to the RFI, the FHFA noted President Biden’s March 2022 executive order.

Financial Technology 78

Financial Technology Technology Fintech Compliance 78

Abrigo

AUGUST 19, 2022

Joint s tatement emphasizes understanding a customer’s risk profile for BSA/AML An individualized, risk-based CDD approach is best when it comes to creating your BSA program protocols. You might also like this webinar, "Balancing compliance risk & reward with high-risk businesses." keep me informed.

ATM 195

ATM Regulation Fraud Policies 195

South State Correspondent

MAY 9, 2022

Technology platforms around cryptocurrency, student loans, or financial education may be cool and cheap. We all say the customer comes first, but our actions around innovation often put cost, compliance, or our present way of doing business first. Banks have limited resources and must carefully choose their projects and priorities.

Technology 195

Technology Customer Experience Data Training 195

PYMNTS

JUNE 20, 2019

The last thing that anyone wants to hear in almost any financial organization is that the people tasked with risk management is feeling less than fully confident about their ability to actually do that job — because they aren’t sure if their data is good.

Data 166

Data cryptocurrency Regulation Compliance 166

PYMNTS

MARCH 14, 2019

Both corporates and banks have said Know Your Customer ( KYC ) regulations are their most pressing compliance concerns, with nearly three-quarters of businesses with more than $1 billion in revenues pointing to KYC as their top challenge. Most also said payments management is the most time-consuming process, followed by cash forecasting.

Fraud 115

Fraud Survey Taxes Regulation 115

FICO

DECEMBER 23, 2020

We predict that regulators will continue to emphasize financial crimes compliance by looking to close the gaps in existing frameworks and regulations. So will high-risk products/services such as correspondent banking and trade finance transactions. A number of proposed bills are also with law makers on Capitol Hill.”.

Compliance 52

Compliance Regulation Data Risk Management 52

FICO

JUNE 1, 2023

AI that is biased, unexplainable and/or producing incorrect or inconsistent results can result in regulatory and compliance concerns for any financial institution unlucky enough to use it. The dangers with unexplainable AI don’t need to go as far as Skynet , WOPR , or VIKI to be problematic. TJ holds a B.S. in computer science and a M.S.

Training 59

Training Fraud Customer Experience South Carolina 59

Insights on Business

DECEMBER 19, 2018

In addition, the Federal Reserve and a host of other regulators have released guidance on not only how to address the opportunities of artificial intelligence in financial crime as well as risk management, but what is expected once they look to apply innovative technologies. Heightened supervision expands the aperture.

Regulation 111

Regulation Innovation Risk Management Compliance 111

PYMNTS

JUNE 27, 2016

“Over the past few years, the rise of new financial marketplaces, globalized eCommerce, cross-border payments, international remittances, and cryptocurrencies have become significant opportunities for banks,” Caldera wrote in a recent report. Not if you ask Jose Caldera, IdentityMind Global’s VP of Product.

Regulation 101

Regulation Guidelines Risk Management Operations 101

FICO

JUNE 23, 2022

Already, 42% of the respondents (which comprised 26 compliance and AML executives) had some level of info and data sharing between fraud and AML, another 50% said they were likely to do this in next one to two years. Have lunch with your counterpart in fraud or compliance. Go to lunch,” I said. TJ holds a B.S.

Fraud 52

Fraud Management Data Compliance 52

Gonzobanker

NOVEMBER 22, 2022

So, we need a solution that uses identity, privacy, compliance, and regulation to ensure that DeFi continues to grow to its full potential.”. The post The Crypto Brat Pack Just Earned Themselves Regulation appeared first on Gonzobanker.

Regulation 162

Regulation blockchain Marketing Strategy 162

Gonzobanker

DECEMBER 14, 2023

On one hand, there were tons of stories emerging about operational and compliance chaos in BaaS partnerships, enough to scare many banks who were standing at the edge of the pool to conclude, “I’m not jumping in.” The Holy Crap Operational Risk Award – goes to the growing threat of ransomware with bank technology vendors.

Fintech 190

Fintech Community Regional Technology 190

CFPB Monitor

JUNE 11, 2019

While Arizona’s law does not specifically mention blockchain technology, the State’s AG has said “certain blockchain or cryptocurrencies products or services might also be eligible.”. Further, neither Utah nor Arizona may exempt participants from compliance with federal laws and regulations.

Utah 60

Utah Arizona Innovation Regulation 60

Fintech Labs Insights

JUNE 18, 2015

Social cryptocurrency . Compliance & risk-management technology. Mobile personal finance manager . Tags: Risk management, security, regulation, compliance. HQ: San Francisco, California. Latest round: $ 1.5 Total raised: $ 1.5 Source: Crunchbase. HQ: Dublin, Ireland. Latest round: $1.1

San Francisco 12

San Francisco Company Fintech Albuquerque 12

Fintech Labs Insights

DECEMBER 30, 2015

Vendor management for financial services companies. Investment portfolio management . Tags: Consumer, investing, trading, aggregation, wealth management. Latest round: $4 million. Total raised: $6.3 HQ: Elizabethtown, Kentucky. Source: Crunchbase. Prestiamoci. Person-to-person consumer lender . Latest round: $2.2 Sharesight.

Company 12

Company New York City Fintech Kentucky 12

ABA Community Banking

SEPTEMBER 29, 2022

Insights from the 2022 Federal Reserve/CSBS survey of community banks. The post One in 10 community banks planning to launch crypto services appeared first on ABA Banking Journal.

Community Bank 98

Community Bank Community Survey Risk Management 98

Lex Sokolin

JULY 1, 2019

Goldman Sachs entered and dominated personal digital lending, runs a neobank and roboadvisor, bought a large digital wealth footprint in United Capital, launched a credit card in partnership with Apple, and is now looking into cryptocurrency stablecoins ?—?something something that Facebook and JP Morgan have already started building.

Bitcoin 40

Bitcoin System Software blockchain 40

Fintech Labs Insights

AUGUST 22, 2024

Stratyfy: Raised $12M, decision intelligence technology gaining traction, particularly in risk management. Themis: Raised $9M, compliance and governance tech gaining steady traction, particularly with larger corporate clients. MX: Financial data aggregation, continued to lead with innovation in financial management tools.

San Francisco 15

San Francisco New York San Jose Tools 15

Alex Jimenez

NOVEMBER 4, 2023

Regulation and Compliance: Not one of the more exciting topics, but there seems to be a growing emphasis on FinTech regulation and compliance, particularly around industry stability and consumer protection. Two years ago, the buzz was all about cryptocurrency and blockchain/DLT. The application of AI was highlighted many times.

Conference 84

Conference Meeting Trends Fintech 84

Fintech Labs Insights

FEBRUARY 23, 2016

Risk management and compliance software. Compliance layer for value exchange. Tags: SMB, enterprise, security, privacy, blockchain, cryptocurrency, database, bitcoin. Latest round: $6.9 million Series. Total raised: $10.7 HQ: Amsterdam, Netherlands. Source: Crunchbase. AQ Metrics. Latest round: $3.25 Chainalysis.

Company 12

Company Fintech San Francisco Texas 12

Fintech Labs Insights

OCTOBER 19, 2015

Bitcoin compliance solutions. Using the blockchain for managing records. Tags: Enterprise, IDology (investor), security, risk management, payments, Finovate alum. Source: FT Partners. Asset verification . HQ: Oklahoma City. Latest round: $1.5 Total raised: $3.25 Source: Crunchbase. Real estate technology. million Seed.

New York City 12

New York City Company Fintech New York 12