PYMNTS

NOVEMBER 26, 2019

Regulation is perhaps the strongest driver of Lithuania’s FinTech-friendly environment. But financial regulatory compliance can be a headache for any market. For traditional banks, compliance experts agree that it’s all about data — and the ability to share information with regulators. Resuming Operations.

Compliance 182

Compliance Regulation Fintech Resources 182

Perficient

FEBRUARY 29, 2024

This blog was co-authored by Perficient’s Chief Strategist and banking expert: Scott Albahary A slowing global economy, coupled with a divergent economic landscape, poses challenges for the banking industry in 2024. Facilitation of embedded lending while ensuring compliance: Embedded finance initiatives must adhere to regulatory requirements.

Trends 221

Trends Industry Analytics Compliance 221

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. Takeaway 2 NBFIs should ensure their AML programs are sound and pass the scrutiny of FinCEN and their primary regulators. NBFIs’ AML compliance requirements. DOWNLOAD . Competing with Banks.

Compliance 195

Compliance Training Regulation Fraud 195

Perficient

SEPTEMBER 11, 2023

Already reviewed by Perficient, BES provides a secure and efficient portal to exchange documents, information, and communications for consumer compliance and Community Reinvestment Act (CRA) examinations. By the time people started speaking of Y2K , regulators were accepting documents from the bank prior to starting the onsite examination.

Compliance 221

Compliance FDIC Tools Leadership 221

Perficient

MAY 27, 2022

For those wanting to start their own cryptocurrency fund, it’s important to be well informed about cryptocurrency regulations. Regulatory cryptocurrency regulations are most fluid at the state level. State Regulations. SEC Regulation. Central Bank Digital Currency (CBDC) ).

cryptocurrency 332

cryptocurrency Regulation Management Bitcoin 332

Independent Banker

AUGUST 31, 2022

In today’s intense regulatory landscape, compliance extends to every aspect of banking, so much so that no one person or team can be solely charged with managing a bank’s compliance requirements. In fact, compliance has grown to become a massive responsibility that must be part of every employee’s job. My top three.

Compliance 177

Compliance Community Leadership Industry 177

Perficient

APRIL 2, 2021

The RFI also solicits the industry’s views on the use of AI in financial services to assist in determining whether any clarifications from the agencies would be helpful for the use of AI in a safe and sound manner. Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection.

Regulation 309

Regulation Industry Risk Management Analysis 309

Bank Innovation

JANUARY 6, 2017

Professionals in the financial services industry are focusing their energy on regulation and data management, according to a survey from consulting firm and technology services provider Synechron.

Regulation 210

Regulation Industry Management Data 210

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence Perficient’s Risk and Regulatory Center of Excellence (CoE) remains at the forefront of evolving financial rules and regulations, ensuring readiness to tackle emerging challenges and safeguard financial institutions and its customers.

Compliance 221

Compliance New York Regulation Analysis 221

Chris Skinner

JANUARY 14, 2018

The moderator first of all asked: Do you believe that the regulators are in the incumbent’s pockets and protect the industry from new competition? You may find it gratifying that most of … The post Innovation with compliance is difficult appeared first on Chris Skinner's blog.

Compliance 265

Compliance Innovation Conference Regulation 265

PYMNTS

JULY 1, 2019

When it comes to the new and emerging legal cannabis industry – along with the closely related trade in CBD products – payments and compliance issues, as one can imagine, have tremendous importance, and companies are striving to get into the game via those angles. Starting today, U.S. The Legal Situation.

Compliance 167

Compliance Industry Payments Policies 167

PYMNTS

APRIL 8, 2019

Australian financial regulators are feeling pressure to ensure financial institutions treat customers properly and have turned to artificial intelligence (AI) in an attempt to improve compliance, according to a report by the Financial Times. The ASIC inquiry found misconduct in the financial industry as well as a lack of enforcement.

Compliance 108

Compliance Regulation Industry National 108

Abrigo

JUNE 28, 2023

Share these reports on AML activities to inform directors Reporting to the board on AML and fraud compliance is an essential obligation. Why regular reports matter Board reporting on AML compliance activities BSA Officers have a lot of responsibilities. Reporting should represent the risk-based approach to AML/CFT compliance.

Compliance 195

Compliance Fraud Report Trends 195

Perficient

JUNE 5, 2020

Secure software practices are at the heart of all system development; doubly so for highly regulated industries such as health-care providers. As a best-practice it is recommended to adopt automation of certain security audits, integration of compliance oversight into key development process areas (e.g. Data Stewardship.

Compliance 332

Compliance Security Software System 332

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

Perficient

FEBRUARY 15, 2024

This blog was co-authored by Perficient Risk and Regulatory CoE Member: Alicia Lawrence The announcement of significant amendments to the New York State Department of Financial Services (NYSDFS) regulations on December 1, 2023, represents a pivotal moment for entities operating within New York’s financial sector.

New York 221

New York Compliance Regulation Analysis 221

Abrigo

MAY 19, 2023

Takeaway 2 Examining the following objectives and evaluating your loan review system based on them can ensure regulatory compliance. Introduction How regulators define successful loan reviews Mark Twain observed, “A thing long expected takes the form of the unexpected when at last it comes.”

System 195

System Regulation How To Lending 195

PYMNTS

NOVEMBER 4, 2020

Trade finance players, including corporates, banks and regulators, are finally ready to embrace modernization and technology. As a highly regulated area of financial services, trade finance has struggled to enter the digital age. Previously, regulation was very slow in adapting and approving of different technology," he said.

Regulation 234

Regulation Tools Compliance Technology 234

Perficient

OCTOBER 15, 2024

Lets talk about data governance in banking and financial services, one area I have loved working in and in various areas of it … where data isn’t just data, numbers aren’t just numbers … They’re sacred artifacts that need to be protected, documented, and, of course, regulated within an inch of their lives.

Tools 221

Tools Data Compliance Regulation 221

Abrigo

AUGUST 31, 2023

Teaching staff these KYC tips to make clients feel more comfortable In 2023, KYC procedures must both support CDD compliance and make sure your institution is a welcoming place for all customers. Relationship building has long been part of the financial services industry, so knowing your customer may seem straightforward.

Compliance 195

Compliance Community Training System 195

PYMNTS

NOVEMBER 13, 2020

As government regulators in China increase tech industry oversight, Tencent said it will comply with new laws intended to curb antitrust activities and tighten FinTech acceleration, according to a Bloomberg report on Friday (Nov. The regulators are looking more closely at transaction-based platforms, Lau said, per Bloomberg.

Regulation 227

Regulation social media Video Groups 227

PYMNTS

MAY 31, 2016

And the regulations just keep coming. In the banking industry, the mindset among compliance staff seems to be one where the expectation is to have a new rule governing new rules that govern new rules. In this brave new regulatory world, noted The Journal , traders interact with compliance officers. among other agencies.

Regulation 100

Regulation Compliance Industry Course 100

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Humans are resilient, and difficult times that require change is not foreign to the financial services industry. This frequency of communication to the financial services industry is abnormal to say the least.

Regulation 195

Regulation Fraud Compliance Trends 195

Abrigo

AUGUST 27, 2020

Regulators have determined there are five top hot topics that institutions should expect during their next exam. Humans are resilient, and difficult times that require change is not foreign to the financial services industry. This frequency of communication to the financial services industry is abnormal to say the least.

Regulation 195

Regulation Fraud Compliance Lending 195

PYMNTS

AUGUST 23, 2018

Compliance of General Data Protection Regulation (GDPR) rules remain low across the globe, according to the latest research from Dimensional Research. Reports from the Business Information Industry Association (BIIA) on Tuesday (Aug. However, the cost of GDPR compliance is significant. Twenty-one percent of U.K.

Compliance 184

Compliance Regulation Data Survey 184

Perficient

JUNE 19, 2024

Our risk and regulatory compliance experts, Carl Aridas and Chandni Patel, have just returned from XLoD 2024 in New York. The event brought together the world’s top financial institutions and regulators to discuss the future of non-financial risk and control.

Exercises 221

Exercises Compliance Risk Management Video 221

Perficient

DECEMBER 27, 2023

Once published by regulators, Perficient’s Risk and Regulatory CoE will be here to walk our clients through the changes. YOU MAY ENJOY: Regulatory Reporting in Financial Services Modernizing CRA Regulations Managing compliance risk frameworks in alignment with existing risk profiles is crucial as customer needs evolve.

Compliance 221

Compliance FDIC Regulation Fraud 221

Accenture

MARCH 23, 2017

I wanted to follow on from my previous blog around the emergence of RegTech (technologies that address the challenge and cost of regulatory compliance.) I wanted to explore how investment trends in this area are impacting the industry and how the ecosystem can work with the regulator. Now—what does RegTech mean?

Regulation 158

Regulation Industry Trends Compliance 158

PYMNTS

NOVEMBER 9, 2020

Here’s the latest news from the technology industry, which is coming under increasing global scrutiny from governments and consumers. Regulation. EU Gears Up To Propose New Big Tech Regulations. Australian Regulator Looks Into Merger Law Changes.

Regulation 211

Regulation social media Compliance California 211

Accenture

MARCH 23, 2017

I wanted to follow on from my previous blog around the emergence of RegTech (technologies that address the challenge and cost of regulatory compliance.) I wanted to explore how investment trends in this area are impacting the industry and how the ecosystem can work with the regulator. Now—what does RegTech mean?

Regulation 150

Regulation Industry Trends Compliance 150

PYMNTS

JANUARY 24, 2019

With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. ” Organizations must do more with less, and they must do it quickly, he continued.

Compliance 191

Compliance Risk Management Training Analysis 191

Abrigo

SEPTEMBER 24, 2024

You might also like this checklist, "6 steps for compliance with the new AML/CFT program rules." Takeaway 3 Financial institutions evaluating AML/CFT software have several compliance considerations related to involving humans in processes. A purely AI-driven approach may miss these nuances.

Software 195

Software Management Compliance Resources 195

Payments Source

FEBRUARY 4, 2020

Since the Payment Card Industry Data Security Standard was introduced in 2004, many merchants found compliance to be too arduous or costly and just skipped it, risking fines. But increasingly, other regulations like GDPR are changing the PCI DSS compliance equation.

Compliance 128

Compliance Regulation Security Cards 128

Abrigo

JULY 9, 2024

Takeaway 2 Financial institutions will need to incorporate FinCEN's national AML/CFT priorities into their risk assessments and compliance programs. Notably, these would include a change to long-standing industry terminology. The need to modernize AML/CFT programs has been at the forefront of AML professionals' minds for some time.

Compliance 221

Compliance Fraud Regulation National 221

PYMNTS

SEPTEMBER 25, 2019

Regulators the world over are beginning to take a closer look at the alternative and marketplace lending business model. Also, in China, analysts at Yingcan Group pointed to the government’s P2P and marketplace lending crackdown as being likely to shrink the industry by as much as 70 percent this year. In the U.S.,

Compliance 117

Compliance Risk Management Lending Regulation 117

PYMNTS

NOVEMBER 13, 2020

But in the alcohol beverage arena, unique regulations — many of which date back to the era of prohibition — have added an extra layer of complexity to the supply chain. Despite a growing community of FinTech solutions geared toward the industry, managing invoices and B2B payments remains a challenge. Navigating B2B Payments Compliance.

Industry 219

Industry Payments Retail Regulation 219

Perficient

APRIL 14, 2022

In my over thirty years of experience in the financial services industry, I have learned a thing or two about completing, reviewing, and filing various types of reports — some of which have extremely tight restrictions and constraints to which the reporter must abide. To promote transparency in the large U.S. Treasury Securities to TRACE.

Report 294

Report Compliance Security Regulation 294