PYMNTS

JUNE 11, 2020

Social distancing restrictions implemented to curb the virus’s spread are preventing compliance professionals from obtaining physical identification documents and holding in-person meetings that typically enforced anti-money laundering/know your customer (AML/KYC) compliance. Compliance Enforcement Goes Remote With Biometrics.

Compliance 186

Compliance Guidelines Meeting Tools 186

Abrigo

NOVEMBER 2, 2021

Culture of compliance is crucial to BSA/AML programs Culture of compliance within the BSA/AML framework is not new and was first introduced by FinCEN in 2014. Takeaway 2 Poor culture of compliance will result in shortcomings in a financial institution's BSA/AML program. A strong culture of compliance is crucial.

Compliance 195

Compliance Regulation Resources Policies 195

PYMNTS

SEPTEMBER 24, 2020

Reducing fees for remittances might push price points low enough that more consumers could resume sending money home, though, and some researchers believe that money transfer service providers could make such price adjustments if they are able to reduce their own expenses through more robust and cost-effective regulatory compliance measures. .

Compliance 223

Compliance Tools Fraud Regulation 223

PYMNTS

DECEMBER 16, 2019

Indeed, says Robert Courtneidge, CEO of payment technology firm Moorwand , this space is one of the most exciting and busy when it comes to innovation. Mixing Innovation With Compliance. Service providers are increasingly understanding that, like consumers, businesses demand a better and more seamless end-user experience.

User Experience 204

User Experience Compliance Payments Fraud 204

Perficient

MARCH 17, 2021

However, companies within certain industries may be more hesitant to incorporate a nearshore delivery model into their software development projects due to federal regulations around information and data security. Compliance Considerations. Security is the highest priority when searching for a nearshore partner.

Software 508

Software Regulation Industry United States 508

PYMNTS

SEPTEMBER 24, 2020

Staying abreast of these various compliance shifts can be costly and challenging for banks, but doing so is necessary to ensure that financial institutions’ (FIs) operations can run smoothly and ward off cyberattacks. Compliance, Cybercrime And The Cloud . Most banks are familiar with how quickly regulatory requirements can change.

Compliance 151

Compliance Fraud Regulation Security 151

Perficient

FEBRUARY 22, 2023

The Summit brings together experts in the field, including bank executives, technology vendors, and consultants, to discuss the latest advancements in automation and its impact on the banking industry. Perficient will also bring insight surrounding the banking industry’s growing use of blockchain to the Summit.

Trends 474

Trends North Carolina Customer Experience Charlotte 474

PYMNTS

SEPTEMBER 10, 2019

Companies therefore must either invest in teams of AML specialists or in fraud-fighting technologies. . The September AML/KYC Tracker examines the latest fraud challenges and efforts to ensure tight security and compliance. . How Mobile Financial Startups Can Bridge the Security Gap. Around the AML/KYC Worl d.

Security 185

Security Fintech Fraud Compliance 185

PYMNTS

JULY 1, 2020

The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). Additional steps may be necessary to properly segment and secure bank networks if employees use personal devices to connect to bank systems,” the OCC wrote.

Compliance 166

Compliance National Fraud Operations 166

Perficient

JUNE 1, 2022

All broker-dealers who are FINRA member firms have an obligation to report transactions in TRACE-eligible securities under an SEC-approved set of rules. TRACE time reporting requirements have numerous intricacies based on the security, the issuance status of the security, and the time of day reporting occurs.

Report 294

Report Security Regulation System 294

PYMNTS

SEPTEMBER 23, 2020

Senior citizens are the demographic group most vulnerable to identity fraud, as they are often not as digitally savvy as their younger counterparts nor as adept in online security best practices. Large investments in security measures are necessary for banks to protect themselves and their customers from this menace. billion ($8.9

Technology 208

Technology Report Fraud Study 208

PYMNTS

OCTOBER 19, 2020

Senders could receive complaints from receivers that payments did not arrive on time, for example, but the former would be left in the dark about what caused the issue. A recent survey found that one-third of businesses were worried about cross-border payments fraud, while 26 percent expressed data security concerns.

Technology 193

Technology Payments Security Survey 193

Insights on Business

NOVEMBER 12, 2018

Today, governance, risk and compliance (GRC) is being transformed by not only rapidly-evolving regulatory standards and growing costs of non-compliance, but also by the clear and present need for greater GRC adoption/engagement – by the first line of defense – while delivering added value by empowering business users.

Compliance 107

Compliance Technology User Experience Analytics 107

PYMNTS

MARCH 24, 2017

An example is that cross-border wires were among those payment conduits most closely examined due to higher risk. Payments technology is bringing these far-flung methods together in the spirit of modernization,” Gurz said. But technology only solves one side,” said Gurz, who went on to say that there is also a human component at work.

Compliance 157

Compliance Fraud Regional Examples 157

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. One recent example of a response to the proliferation was the inclusion of a long-fought anti-money laundering (AML) provision within the recently passed defense spending bill in the U.S. Complex Compliance.

Fraud 270

Fraud Compliance cryptocurrency Security 270

Perficient

SEPTEMBER 16, 2022

Legal status – There is some question regarding the legal status of many crypto-assets – is it a security, is it fungible, is it a derivative – as well as the very limited legal precedent regarding how crypto-assets would be treated in varying contexts, including, for example, in bankruptcy court. The Home Owners’ Loan Act. Legal risk.

Compliance 275

Compliance Risk Management System Regulation 275

Perficient

JUNE 16, 2020

With the number of tech-savvy patients increasing, it is becoming a requirement to provide easy accessibility while maintaining top security. Google technologies allow you to focus on patient care by seamlessly and securely guiding patients through the process of relevant information gathering and connecting virtually.

Google 322

Google Colorado Data Compliance 322

PYMNTS

SEPTEMBER 6, 2018

Compliance and risk? Automating that compliance is now a “need to have.”. The age of technology is, of course, well upon us, with Software-as-a-Service (SaaS) a key conduit to making sure that at least some business operations — once the province of spreadsheets and reams of paper — can be streamlined. Plugging In To Plugins.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

PYMNTS

MARCH 18, 2019

Gill asserts that most financial institutions, left to their own devices, may end up following a less than optimal path to innovation, and not because they have selected the “wrong” technology solution, since in Gill’s experience, what’s “wrong” for one FI might be right for another. Technology spend gets mistaken for branch transformation.”.

Technology 237

Technology Innovation Strategy System 237

PYMNTS

JUNE 5, 2020

Such solutions can “empower people to control their financial well-being,” Andrew Davies, vice president of global market strategy and financial crime risk management at financial services technology company Fiserv , told PYMNTS in a recent interview. The federal entity is charged with monitoring the U.S.

Security 174

Security Fintech Data Fraud 174

PYMNTS

OCTOBER 5, 2020

Retailers must protect customers’ card data from hackers who try to snatch payment details, and following best practices to ensure security requires adhering to the regulations established by the PCI SSC, a global payments industry forum. Compliance Complexities. Orchestrating A Solution.

Cards 207

Cards Data Compliance Payments 207

PYMNTS

SEPTEMBER 11, 2019

Nicolas Dinh , chief operating officer of year-old Canadian financial startup STACK , recently spoke with PYMNTS about the key forms of fraud that nascent mobile financial services firms face and how companies can leverage security technologies and partnerships to gain customers’ trust. Partnering With Established Players.

Security 113

Security Fraud Mobile Cards 113

Abrigo

OCTOBER 7, 2016

The benefits of utilizing e-commerce technology are readily apparent to us because they are personal: We find what we are looking for; we find it at a cheaper price; we can get it more quickly. Technology can also provide tangible benefits to a business, and in many cases, those benefits are financial. Assisting with compliance.

Technology 170

Technology Boston Software Study 170

PYMNTS

JUNE 4, 2020

The share of B2B transactions conducted via check has fallen 50 percent since 2004 and hit an all-time low of 42 percent last September, for example. Ensuring such payments are secure from bad actors is a priority for the banks that process them. API security. Benefits Of APIs . Future of APIs .

Security 151

Security Fraud Payments Compliance 151

PYMNTS

APRIL 29, 2020

Banks have not faced issues in fulfilling their obligations to their various customers, Caldeira said, and technology has not proved a hindrance to meeting demand as businesses and individuals look for increased assistance in navigating a new reality of digitally delivered financial services. For them, the transition has been seamless.”.

Technology 142

Technology System Meeting Resources 142

PYMNTS

JULY 18, 2019

The technology, he noted, is starting to get ahead of the problem and neutralize the pain points. “In The first is the risk and compliance bucket, ensuring practices are aligned with the governing regulatory model, including making sure everyone is who they say they are – on both sides of the transaction.

Technology 162

Technology Compliance Payments Marketing 162

PYMNTS

APRIL 18, 2017

Banks and financial institutions spend billions of dollars to ensure they are meeting compliance requirements and properly managing risks. For this reason, ComplyAdvantage is out to disrupt the market by delivering on solutions that does more than just check the compliance box. The Data Differentiator.

Compliance 111

Compliance Data Austin Management 111

PYMNTS

APRIL 7, 2017

Compliance is not just about dealing with a specific corporate action or use case. When payments are involved, compliance is a way of life, as constant as the transactions themselves, and it is complex enough an activity for some firms as to demand outsourcing to experts. She noted that WePay exists “behind the scenes.…

Compliance 100

Compliance social media User Experience Fraud 100

Perficient

JUNE 24, 2023

In today’s digital landscape, having a solid digital strategy and embracing cutting-edge technology are key factors for business success. However, many enterprise organizations face challenges when it comes to coordinating the rollout of new marketing technology products and achieving scalable growth.

Tools 251

Tools Analytics Digital Strategies System 251

Insights on Business

FEBRUARY 27, 2018

A common assumption in risk and compliance is that financial institutions typically have to spend more to meet their regulatory obligations. To achieve this, IBM and Promontory Financial Group are at the forefront of applying cognitive technology to regulatory demands. “Meaning, [regtech] is a teammate.

Compliance 98

Compliance Risk Management Management Regulation 98

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.

Compliance 100

Compliance blockchain Regulation Data 100

PYMNTS

JUNE 9, 2020

FinTech firms and government bodies are responding to the wave of cybercrime by developing new anti-money laundering (AML) and know your customer (KYC) technologies, particularly those leveraging biometric authentication factors. Deep Dive: Using Biometrics To Enable And Enhance AML/KYC Compliance. billion by 2024.

Online 195

Online Report Compliance Fraud 195

PYMNTS

JANUARY 18, 2021

These concerns regarding hiring- and onboarding-related issues superseded even technology-related worries, with roughly 16 percent of respondents pointing to problems with insufficient technological access, for example. . Forty-two percent stated that candidate approval would be a struggle. ID Verification In The Remote Age .

Fraud 281

Fraud Survey Training Resources 281

PYMNTS

OCTOBER 12, 2020

Traditional channels for choosing the right security solutions include searching through hundreds of companies on Google, attending trade shows and conferences or dealing with constant cold calls and cold emails from security company sales reps,” said Armistead Whitney , CEO of Apptega , which recently launched CyberXchange.

Security 208

Security Examples Industry Training 208

PYMNTS

JUNE 17, 2019

This presents problems for developers, who need to make sure that their products run both smoothly and securely. These technologies are presenting increasing demands on local networks as more devices fill homes, causing aggravating performance lags. I like to use door locks as an example,” he continued. “If How Z-Wave works .

Security 142

Security Michigan Operations User Experience 142

PYMNTS

SEPTEMBER 6, 2016

In a world where payments become more invisible the more digital they become, there’s never been a better opportunity to consider new ways to enable the digital transformation of financial services in a secure and compliant way. Payments Security As A Digital Business Enabler. CA Technologies’ Roadmap.

Security 100

Security CA Payments Big Data 100

Perficient

FEBRUARY 2, 2023

Security/Biometric Payments With the widespread popularity of digital payments continuing to grow, security remains at the forefront of concern for payment companies and their vendor partners. One example of this effort, which we expect to see more of in 2023, is biometric payments.

Industry 471

Industry Trends social media Payments 471