Perficient

DECEMBER 18, 2023

In the fast-paced realm of finance, the significance of regulatory risk and compliance management practices cannot be overstated. The Role of Regulatory Risk and Compliance 1. Legal Obligations and Regulatory Frameworks It is well-known that financial institutions operate within a complex web of laws and regulations.

Regulation 473

Regulation Compliance Exercises Guidelines 473

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. based companies in a variety of regulated industries. Compliance Considerations. Traceability. Experience.

Software 508

Software Regulation Industry United States 508

Abrigo

FEBRUARY 20, 2025

When integrated strategically, AI allows BSA and fraud teams to focus on higher-risk cases and conduct more thorough investigations while maintaining complete control over compliance processes. Why AI wont replace compliance professionals Despite its advancements, AI cannot replace human judgment in financial crime investigations.

Compliance 195

Compliance Fraud Tools Texas 195

Accenture: Banking

SEPTEMBER 15, 2023

Early data reveal a… The post Shifting from compliance to value with ISO 20022 appeared first on Accenture Banking Blog. The new standard successfully launched globally in March 2023 with SWIFT CBPR+, and on the European Market Infrastructures of T2 (March 2023), Euro 1 (March 2023) and CHAPS RTGS (June 2023).

Compliance 526

Compliance Data Marketing Payments 526

Chris Skinner

DECEMBER 12, 2018

He’s not worried about Amazon, Google or Alibaba; he’s not concerned about FinTech start-ups, Revolut or Monzo; he doesn’t really care about Open Banking and software; as for machine learning, artificial intelligence (AI) and … The post Compliance will kill the bank appeared first on Chris Skinner's blog.

Compliance 416

Compliance Conference Google Software 416

Abrigo

JUNE 14, 2021

Create an effective sanctions program Considering the current economic and political environment, it is crucial that financial institutions maintain a strong sanctions compliance program (SCP). Takeaway 1 OFAC has issued new guidance on the essential components of a strong compliance program. learn more.

Compliance 370

Compliance Training Resources Policies 370

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

Chris Skinner

FEBRUARY 13, 2020

A decade ago, we talked about the financial crisis, technology, regulations and compliance.

Technology 501

Technology Compliance Regulation Digital Banking 501

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

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

Perficient

NOVEMBER 30, 2021

Recognizing that regulated and non-regulated financial institutions seek to engage in cryptocurrency and crypto asset activities, the three largest federal bank regulators, the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, recently issued a joint statement on crypto assets.

cryptocurrency 309

cryptocurrency Regulation Policies Compliance 309

Perficient

FEBRUARY 12, 2025

The industry faces numerous challenges, including protecting sensitive data, navigating evolving regulations, and outdated legacy systems. This transformation will require a delicate balance between innovation and compliance, ensuring that advancements in AI contribute to a secure and efficient payments landscape.

Trends 221

Trends Payments Compliance blockchain 221

Abrigo

OCTOBER 30, 2024

Increasing efficiency of compliant AML investigations To boost AML program productivity and keep pace with evolving compliance demands, financial institutions should focus on strategic operational improvements paired with the smart use of technology. See tailored AML/CFT solutions that can improve your compliance. Learn more 1.

Compliance 221

Compliance Training System Management 221

Abrigo

DECEMBER 26, 2024

Indeed, examiners are expected to emphasize that financial institutions must develop and maintain a culture of compliance. Compliance is not optional," said Josh Hawkins, Senior Director of Abrigos Financial Crimes Investigation Unit. Those changes require upgraded technology and staffing efforts. Our Advisory Services team can help.

Fraud 195

Fraud Compliance South Dakota Resources 195

Perficient

MARCH 17, 2025

Additionally, the emergence of embedded finance and an increased focus on regulatory compliance are compelling financial institutions to continuously adapt and innovate. The integration of AI is reshaping the landscape by addressing challenges such as data protection, regulatory compliance, and the modernization of legacy systems.

Trends 221

Trends Analytics Compliance Strategy 221

Bank Innovation

JANUARY 16, 2018

The regulation has been dubbed as one of the more substantial regulatory changes of its kind in Europe. EXCLUSIVE – After more than two years of planning, Payments Services Directive II or PSD2 finally arrived in Europe on Saturday. While many traditional banks and FIs might not be thrilled about having to open their APIs […].

Regulation 356

Regulation Payments Google Apple 356

Abrigo

FEBRUARY 6, 2025

Federal regulations under the Controlled Substances Act (CSA) still classify marijuana as a Schedule I substance, along with heroin and methamphetamine. Even with strong compliance programs, theres always the potential for scrutiny from regulators. However, compliance goes beyond software. These details matter.

Lending 195

Lending Compliance Community Software 195

Abrigo

NOVEMBER 22, 2024

Institutions using FRAML often find themselves better positioned to identify suspicious activities linking fraud and money laundering, potentially reducing compliance costs while improving outcomes. However, institutions must be cautious to ensure compliance requirements for fraud and AML aren’t compromised.

Fraud 195

Fraud Training Risk Management Compliance 195

Abrigo

SEPTEMBER 20, 2023

Understanding AML compliance and regulatory expectations. AML compliance is not for the faint of heart. Takeaway 3 Be your champion and fight for whatever is necessary to instill a culture of compliance. A culture of compliance AML compliance Having a solid culture of compliance is critical to avoiding AML penalties.

Compliance 150

Compliance Regulation Miami Fraud 150

Perficient

MAY 30, 2024

The world’s leading financial institutions and regulators come together at XLoD to discuss the future of non-financial risk and control. They want to know how AI and machine learning can enhance the capabilities of compliance, legal, and risk professionals in managing non-financial risk.

Compliance 221

Compliance Industry New York social media 221

Perficient

MARCH 25, 2025

Look for folks who: Actually understand the data (a rare breed, cherish them) Can handle details without going cross-eyed Won’t melt down when stuck between the rock of compliance and the hard place of IT Bonus: Give them a fancy title like “Data Integrity Czar.”

Data 221

Data Case Study Compliance Regional 221

Abrigo

JANUARY 27, 2025

Transaction monitoring ensures more than just compliance Without reliable client and transactional data coming into your monitoring system, either manually or automatically, you could miss crucial suspicious activity. Maintain compliance with anti-money laundering (AML) regulations. What is transaction monitoring?

Data 195

Data Compliance Fraud Training 195

Abrigo

MARCH 5, 2025

As financial institutions deal with growing portfolios, evolving regulations, and a shifting workforce, maintaining consistency in credit risk assessment is more difficult than ever. These tools are built with data encryption, robust access controls, and compliance baked in from the start.

Risk Management 195

Risk Management Management Tools Compliance 195

Perficient

JANUARY 18, 2023

As a result, the pace of data privacy and data regulation has accelerated on a global scale. Sensitive Data: Regulated. Highly Sensitive Data: Subject to high regulation. Is this data subject to local or global regulations? i.e., employee salaries. . Data leaks might result in high business impact and financial loss.

Regulation 275

Regulation Data Security Compliance 275

Abrigo

AUGUST 19, 2024

A strong BSA prog r am starts with FFIEC compliance Building a robust BSA program means having access to the staffing and resources you need. You might also like this podcast, "Ensuring access to the FFIEC’s suitable resources at your financial institution: What BSA compliance officers need to know.

Resources 195

Resources Compliance Management Training 195

ABA Community Banking

APRIL 9, 2025

The Treasury Department intends to play a greater role in bank regulation with more regulatory tailoring for community banks, which could include exempting them from some requirements entirely, Treasury Secretary Scott Bessent said.

Regulation 86

Regulation Community Bank Community Policies 86

Abrigo

JANUARY 21, 2025

However, compliance departments are frequently understaffed. How would your institution manage this additional workload while maintaining compliance with daily deadlines? Taking a vacation is often a well-deserved break, but for financial crime professionals, it can trigger significant stress.

Fraud 221

Fraud Training Analysis Compliance 221

Perficient

FEBRUARY 27, 2025

By ensuring compliance with regulations, banks mitigate risks and maintain trust with customers and regulatory authorities. To stay ahead, banks should adopt compliance technologies that automate regulatory reporting and help them stay agile in a rapidly changing landscape.

Banking Trends 221

Banking Trends Trends Digital Banking Customer Experience 221

Abrigo

SEPTEMBER 6, 2024

Updated AML/CFT programs: If their financial institution is involved in any part of the covered transaction, such as providing escrow services, AML/CFT professionals must ensure that real estate professionals and advisers are fully integrated into their institution’s compliance framework. Stay up to date on AML/CFT and fraud trends.

Compliance 195

Compliance Training Fraud Regulation 195

Chris Skinner

FEBRUARY 15, 2020

The main blog headlines are … Banking is what we do and technology is how we do it A decade ago, we talked about the financial crisis, technology, regulations and compliance.

Compliance 308

Compliance Maine Regulation Technology 308

Perficient

APRIL 2, 2021

Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. Applications include analysis of regulations, news flow, earnings reports, consumer complaints, analyst ratings changes, and legal documents. Cybersecurity.

Regulation 309

Regulation Industry Risk Management Analysis 309

Perficient

FEBRUARY 16, 2023

With ServiceNow your company could achieve accelerated development, greater speed to market, and increased team execution and delivery for Financial Institutions while adhering to compliance and risks. This makes it easy for companies to comply with all relevant regulations and keep their customers happy.

Operations 474

Operations Industry Compliance Management 474

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

NOVEMBER 27, 2023

In the dynamic environment of highly regulated industries like healthcare and financial services, leaders often balance competing goals to delight customers while cutting costs. This comparison enables your teams to assess process effectiveness and identify deviations that require attention due to inefficiencies and/or non-compliance.

Industry 221

Industry Regulation Compliance Data 221

Perficient

SEPTEMBER 6, 2023

The regulators feel that this proposed LTD rule would: Improve the resolvability of these banking organizations in case of failure, Potentially reduce costs to the Deposit Insurance Fund, and Mitigate financial stability and contagion risks by reducing the risk of loss to uninsured depositors.

Regulation 221

Regulation DC Capital Washington 221

Abrigo

JULY 21, 2022

Teaching branch staff these KYC tips can aid CDD compliance BSA Officers can help tellers and other branch staff learn how to ask questions that both foster relationships and support CDD compliance. . But they can also help your BSA team by supporting Know Your Customer (KYC) and Customer Due Diligence (CDD) compliance. .

Compliance 195

Compliance Training Fraud Examples 195

Abrigo

MARCH 18, 2025

Traditional & emerging payment systems Payment system vs. payment platform Regulations related to payment systems The growing risk of payment fraud What is a payment system? Financial institutions are responsible for not only facilitating payments but also managing risksincluding fraud, compliance, and operational challenges.

System 195

System Payments Fraud Regulation 195