Bank Innovation

APRIL 27, 2018

EXCLUSIVE - Technology services provider Synechron launched a regtech program focused on helping its financial services clients on regulatory compliance issues. The program, which Synechron refers to as its Regtech Accelerator Program, went live yesterday.

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Bank Innovation

FEBRUARY 6, 2018

EXCLUSIVE – When it comes to cryptocurrencies and Initial Coin Offerings (ICOs), it seems that the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have their work cut out for them to balance technological innovation with protecting investors.

cryptocurrency 218

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PYMNTS

APRIL 29, 2020

The volatility of cryptocurrencies and their existence in what’s often a grey area of regulatory compliance make businesses operating in this sector an unattractive target for traditional financial institutions. In a recent interview with PYMNTS, Bankera Co-founder Vytautas Karalevi?ius

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PYMNTS

JULY 8, 2019

and compliance teams would manually check onboarding customers to make sure their records were clear. Wiping out the manual process and handling compliance in an automated fashion can propel companies forward,” Meier said. A client who passed through compliance checks on day one might not be compliant on day 500, for example.

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Abrigo

FEBRUARY 8, 2022

What NBFIs Should Know About Their AML Programs NBFI AML compliance requirements are top of mind in today's regulatory environment. NBFIs’ AML compliance requirements. But what about the NBFI compliance factor, particularly Bank Secrecy Act and anti-money laundering (BSA/AML) compliance? DOWNLOAD .

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PYMNTS

AUGUST 22, 2019

Austria’s major telecommunications firm A1 is now accepting payments in cryptocurrency as part of a pilot project, the company said in a recent blog post. He noted that this emergence has crept into just about every major economic sector, and as more people buy cryptocurrency, cash becomes obsolete.

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PYMNTS

SEPTEMBER 23, 2020

Some fraudsters are even impersonating government officials and asking for personal information for stimulus payments, for example, while others are targeting cryptocurrencies. Technologies like video onboarding and AI have shown promise in facing this threat, but each is vulnerable when deployed alone. billion ($8.9 billion ($8.9

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Bank Innovation

FEBRUARY 15, 2018

EXCLUSIVE- Global technology company IBM is involved in more than 400 blockchain projects, according to its vice president of blockchain technologies, Gennaro “Jerry” Cuomo, who testified before Congress yesterday.

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PYMNTS

DECEMBER 9, 2020

There are currently more than 5,500 different cryptocurrencies in circulation, but the biggest name in the business — and often a metonym for the industry itself — is bitcoin. compliance regulations or have the necessary equivalent documents for verification. The year 2020 saw 18.42 Transaction Monitoring Behind The Scenes.

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CFPB Monitor

MAY 31, 2022

On May 19, 2022, the Associate Director of the Enforcement and Compliance Division of the Financial Crimes Enforcement Network (“FinCEN”), Alessio Evangelista, spoke at the Chainalysis Links Conference in New York City on the topic of “The Intersection of Cryptocurrencies and National Security.” Responsible Innovation “.

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PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. Cloud-based KYC activities were among the new technologies most used by U.S.

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South State Correspondent

MAY 9, 2022

The most significant problem with bank innovation is that bankers see or hear about a sexy piece of technology at a conference or at another bank and then acquire it. The new piece of technology ends up solving a known problem but, in the process, creates more problems, and risks, than it solves.

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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.

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PYMNTS

NOVEMBER 29, 2018

The allure of blockchain was its potential to be a catch-all solution, but as innovators take a more practical approach to introducing the technology to the real world, its true opportunity may lie in addressing highly specialized, unique points of friction. trillion by 2025. trillion by 2025.

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Bank Innovation

SEPTEMBER 26, 2018

Cryptocurrency and blockchain are becoming boring -- not just because the media has covered them so much (ahem!) but because large well-funded companies are using the technology to make the world more efficient. That's what they are supposed to do, after all. It was never supposed to be the Wild West, though the days of […].

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PYMNTS

SEPTEMBER 14, 2020

The United States may have some of the world's best cryptographers working for the National Security Agency and other spy shops, but the Internal Revenue Service (IRS) is crowdsourcing at least part of its effort to beat the algorithms that cloak information about certain cryptocurrencies. 1 have just taken effect. 1 have just taken effect.

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PYMNTS

FEBRUARY 18, 2019

Cryptocurrency has come a long way since bitcoin’s emergence as an unregulated, anonymous payment technology. Perhaps the most poignant moment in this evolution came about last week when JPMorgan Chase announced the development of the JPM Coin, the first bank-backed cryptocurrency in the U.S.,

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Bank Innovation

NOVEMBER 16, 2018

And for banks, making sure regulatory and security compliance is met on each technology undertaking only makes those costs larger. Innovation is expensive. But innovation is a must for banks, who are not only competing with fintechs like neobanks, PFMs, and payment companies, but also with the likes of Amazon, Google, and even Walmart.

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Bank Innovation

NOVEMBER 16, 2018

And for banks, making sure regulatory and security compliance is met on each technology undertaking only makes those costs larger. Innovation is expensive. But innovation is a must for banks, who are not only competing with fintechs like neobanks, PFMs, and payment companies, but also with the likes of Amazon, Google, and even Walmart.

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Innovation Technology Google Compliance 150

PYMNTS

SEPTEMBER 18, 2020

Combining these elements, we are creating a broad platform with faster technology and smarter and better services that the industry can trust as a foundation for innovation towards their own end-clients," he added. “In VSoft Debuts Real-Time Platform. BitPay Secures Wyre Integration.

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PYMNTS

DECEMBER 18, 2020

This week, FinTech EMTECH said it’s launching a compliance platform in collaboration with Microsoft to help central banks test their respective CBDCs. Meanwhile, the Boston Fed has been working with the Massachusetts Institute of Technology to explore the necessary tech infrastructure.

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PYMNTS

DECEMBER 26, 2019

Chinese technology company Tencent has announced it’s going to start researching cryptocurrency and its implications for an ongoing project in blockchain, according to reports. The apps must comply by Dec. 31 or face consequences, which could include fines or loss of licenses that could reduce revenue or depress share prices.

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PYMNTS

JANUARY 1, 2021

Indian FinTech Cashaa and the country's United Multistate Credit Cooperative Society teamed up to launch what they say is the world's first cryptocurrency bank branch through a joint-venture bank called Unicas, according to a release. The operation also will provide traditional banking services, according to the backers.

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PYMNTS

JULY 24, 2020

Since then, the financial technology (FinTech) company has expanded its portfolio to also offer business banking. with an app and debit card, expanded into cryptocurrency trading with Paxos Trust Co., Founded in 2015, Revolut began by offering prepaid debit cards that allowed users to avoid foreign exchange fees while traveling abroad.

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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.

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Bank Innovation

SEPTEMBER 6, 2017

Joshua Klayman, an expert in the legal aspects of blockchain technology, confirms that new regulations are already changing the global cryptocurrency ecosystem. EXCLUSIVE – China just jumped on the bandwagon of governments regulating ICOs… by banning them. The question that experts can’t seem to agree on is: why?

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PYMNTS

JULY 15, 2019

billion is estimated to have been lost to cryptocurrency scams, thefts and fraud in the first quarter of 2019, and cybercriminals and scammers are not the only ones putting digital asset users at risk. Tackling such fraud issues requires cryptocurrency trading platforms to take a variety of approaches. More than $1.2 Low-Friction KYC.

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PYMNTS

DECEMBER 10, 2018

The blockchain team is a startup within Facebook, with a vision to make blockchain technology work at Facebook scale,” the ad said. “We’re We’re exploring lots of areas of interest across all facets of blockchain technology.”. Facebook already has about a dozen people working on blockchain and cryptocurrency.

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Perficient

SEPTEMBER 16, 2022

The letter highlighted mandatory compliance with the following federal regulations: The Bank Holding Company Act. These systems, risk management, and controls must cover: Operational risk , including: the risks of new, evolving technologies, the risk of hacking, fraud, theft, the risk of third-party relationships). Financial risk.

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Compliance Risk Management System Regulation 275

PYMNTS

OCTOBER 13, 2016

Regulation and compliance can be a tough space for many to wrap their heads around. As technology advances, the threat to digital security and identity protection becomes greater, forcing regulations to quickly adapt. Compliance Decoded. Why Compliance Is Going Social.

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PYMNTS

FEBRUARY 19, 2020

The IRS has invited cryptocurrency groups to meet for a regulatory summit March 3 to discuss how the two can work together going forward, published reports said Tuesday (Feb. The IRS has been trying to combat cryptocurrency tax evasion, and the agency has been working on establishing more concrete guidelines for digital currencies.

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PYMNTS

MARCH 25, 2019

One microcosm of fraud and regulatory scrutiny is cryptocurrencies. Said Cohen: “Uncertainty is probably the word of the hour for the crypto environment, because cryptocurrency and crypto exchanges are still relatively nascent. The technology has to fit the process and not the other way around.”. How to Change.

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Bank Innovation

JULY 1, 2019

For the financial services industry, Facebook’s new cryptocurrency, Libra, is yet another warning that digital technology is chipping away at the foundation of traditional business models. If bankers were reading the wires on June 18, they might have choked on the Libra news.

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PYMNTS

APRIL 18, 2019

The last several years have seen a surge in efforts among the cryptocurrency community to legitimize the technology. Once seen as a tool for the dark web and black markets, cryptocurrencies like bitcoin now want to be a part of the broader economy. Rather, it’s to pay off a cyberattacker.

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PYMNTS

OCTOBER 10, 2019

Alipay revealed that it will be banning any transactions related to bitcoin and other cryptocurrencies. To reiterate, Alipay closely monitors over-the-counter transactions to identify irregular behavior, and ensure compliance with relevant regulations.

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PYMNTS

DECEMBER 2, 2020

Facebook's cryptocurrency project on Tuesday (Dec. Along with the name change, the Diem Association also announced a bevy of top executive hires, filling a number of key compliance and legal positions. Goodbye Libra and hello Diem.

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Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. Today’s pig butchering scams usually involve investment schemes and cryptocurrency fraud. Would you like other articles like this in your inbox?

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