Banking is what we do and technology is how we do it
Chris Skinner
FEBRUARY 13, 2020
A decade ago, we talked about the financial crisis, technology, regulations and compliance.
Compliance Regulation Technology 
6 Reasons Financial Institutions Are Embracing Risk and Regulation Tactics
Perficient
DECEMBER 18, 2023
In the fast-paced realm of finance, the significance of regulatory risk and compliance management practices cannot be overstated. By adopting a proactive stance and leveraging technological advancements, financial entities can navigate the regulatory landscape with greater resilience and efficacy.
Regulation 
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How Nearshore Software Development Can Still Work in Highly Regulated Industries
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. Secure Passwords.
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Key Components of a Strong Sanctions Compliance Program
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.
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AI Regulations for Financial Services: FinCEN
Perficient
OCTOBER 30, 2024
Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.
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How to avoid costly BSA enforcement actions: Proactive steps for bank compliance
Abrigo
NOVEMBER 14, 2024
These actions can result in costly civil penalties and reputational damage, so banks and credit unions should take proactive steps to ensure their BSA compliance programs are robust and effective. Key strategies to prevent BSA enforcement actions To prevent BSA enforcement actions, banks must prioritize proactive compliance measures.
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Turning Compliance Burden Into FinTech-Regulator Collaboration
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.
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Highlights From Federal Bank Regulators’ Joint Statement on Cryptocurrency Assets
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.
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U.S. Regulations to Consider When Managing a Cryptocurrency Fund
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) ).
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AI Regulations for Financial Services: SEC
Perficient
NOVEMBER 6, 2024
Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.
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For Blockchain Adoption, FIs Have to Solve Compliance First
Bank Innovation
MAY 26, 2017
The next big thing in financial services won’t make it very far off the ground if FIs don’t innovate with an eye towards compliance.
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AI Regulations for Financial Services: CFPB
Perficient
OCTOBER 28, 2024
Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility. Fraud screening.
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Exploring Industry Shifts in Banking Compliance at XLoD
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. Comey as well as topical discussions spanning regulatory risk, market abuse, and leveraging technology in automation (RPA), data analytics and ML/AI.
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5 Startups Rebooting Regulation
Bank Innovation
APRIL 24, 2017
The rise of insurtech is running parallel to the rise of regtech, as financial firms and startups apply artificial intelligence, blockchain, and other technologies to the dizzying world of financial regulation.
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Regulators Line Up For Trade Finance Modernization
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.
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AI Regulations for Financial Services: OCC
Perficient
OCTOBER 24, 2024
Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.
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AI Regulations for Financial Services: US Treasury Department
Perficient
NOVEMBER 1, 2024
Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.
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The Finanser’s Week: 10th February 2020 – 16th February 2020
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.
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Compliance In The Clouds: How The Pandemic Is Affecting Banks' Cloud-Native Futures
PYMNTS
SEPTEMBER 23, 2020
Banks in the EU have been racing to comply with the General Data Protection Regulation ( GDPR ) and the revised Payment Services Directive ( PSD2 ) since both measures were enacted in 2018. He explained that the cloud can help FIs swiftly respond to compliance and security challenges during the pandemic.
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10 NBFI AML Compliance Essentials
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.
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Deep Dive: How Regulatory Compliance Tools Help Keep Remittances Flowing
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. .
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Bank Regulators Seeking Comments on the Use of AI and ML in the Industry
Perficient
APRIL 2, 2021
Finally, views are sought for compliance with applicable laws and regulations, including those related to consumer protection. AI technologies, such as voice recognition and natural language processing (NLP), are being used to improve customer experience and to gain operational efficiencies. Personalization of Customer Services.
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NJ Legislators Propose Tighter Data Privacy Regulations
PYMNTS
MARCH 2, 2020
Andrew Zwicker (D-Hunterdon), chairman of the Assembly’s Science, Innovation and Technology Committee and lead sponsor of the legislation. The California Consumer Privacy Act went into effect in January, and the European Union’s General Data Protection Regulation ( GDPR ) went into effect in 2018.
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Regtech in banking: How emerging technology helps keep banks compliant
Abrigo
JULY 27, 2023
Would you like other articles on fraud and AML/CFT compliance in your inbox? Takeaway 1 Regtech uses new technologies such as AI and machine learning to streamline processes that keep organizations compliant. Of course, banks and credit unions are highly regulated industries, and this is increasing. What is regtech?
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Regtech in banking: How emerging technology helps keep banks compliant
Abrigo
JULY 27, 2023
Would you like other articles on fraud and AML/CFT compliance in your inbox? Takeaway 1 Regtech uses new technologies such as AI and machine learning to streamline processes that keep organizations compliant. Of course, banks and credit unions are highly regulated industries, and this is increasing. What is regtech?
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AI Regulations for Financial Services: CFTC and FDIC
Perficient
NOVEMBER 4, 2024
Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.
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AI Regulations for Financial Services: Federal Reserve
Perficient
NOVEMBER 8, 2024
Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.
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The AMLA and a Culture of Compliance – More Critical Than Ever
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.
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Fidor: How Cloud-Based Banking Helps With Compliance
PYMNTS
SEPTEMBER 22, 2020
Consumers pivoting to online banking are also more concerned over the privacy and security of their data, especially as fraud volumes creep up —and financial regulators are taking notice. Digital-only challenger bank Varo has partnered with third-party cloud technology provider Temenos to bring its core banking to the cloud, for one example.
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Is ‘Embedded Regulation’ The Key To Stablecoins’ Success?
PYMNTS
NOVEMBER 25, 2020
The age of digital currencies might be fully upon us, but key questions swirl about how to issue and regulate cryptos – especially stablecoins. Regulators and lawmakers, however, can latch onto digital currency efforts as they must monitor and also supervise such stablecoins. In a paper that debuted Tuesday (Nov. The Value Of CBDC .
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AI Regulations for Financial Services: South Korea and the UK
Perficient
NOVEMBER 14, 2024
Artificial intelligence (AI) is poised to affect every aspect of the world economy and play a significant role in the global financial system, leading financial regulators around the world to take various steps to address the impact of AI on their areas of responsibility.
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Cloud Takes Center Stage at 2023 Bank Automation Summit
Perficient
MARCH 30, 2023
However, due to their sensitive and regulated natures, some industries – especially the financial services industry – have had more complicated cloud transformation journeys than others. Institutions should implement cloud technologies in a way that makes sense for their needs.
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Big Tech Compliance Tracker: EU Prepares To Propose New Big Tech Regulations; Turkey Fines Big Tech Platforms $1.18M
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.
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The smartphone as a mobile identity device
Payments Dive
JANUARY 4, 2018
New mobile technologies make it possible for payments companies to leverage consumers' smartphones as an identity device, enabling compliance with AML and KYC regulations while maintaining the superior user experience that consumers expect.
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284 The Future Of Compliance: Using Data Better
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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Benefits of Leveraging Technology for Document Preparation
Abrigo
JUNE 9, 2020
Technology has enabled financial institutions to operate more quickly and efficiently, creating a better experience for customers. Compliance is at the center of the lending process at financial institutions. Without the right tools and processes in place, however, compliance can be monotonous and inefficient. Learn more.
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It’s a Program, Not a Project: Designing Websites for Accessibility
Perficient
FEBRUARY 4, 2021
By having an inaccessible site, you are turning away 26% of your overall potential market and expose the organization to compliance violations. According to the Web AIM million accessibility evaluation study , the top five compliance errors are low color contrast, missing alternative text, empty links, missing form labels, and empty buttons.
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Deep Dive: Cracking Down On Cryptocurrency Exchange Cybercrime With AML/KYC Compliance
PYMNTS
DECEMBER 10, 2020
Thousands of other cryptocurrencies began circulating on crypto exchanges in recent years, such as Ethereum, Monero and Ripple, many of which leverage blockchain technology to serve as a transaction database. Enforcing AML/KYC Compliance At Cryptocurrency Exchanges. in 2015 and a staggering $13,421.44 The same year saw $2.8 or the U.S.,
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How Process Mining Accelerates Efficiency for Highly Regulated, Customer-obsessed Industries
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. Imagine a technology that can precisely pinpoint where a process bottlenecks, track where inefficiencies are, AND offer ideas for automation opportunities.
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Big Tech Compliance Tracker: Europe Plans To Release Drafts Of Digital Regulation Legislation; UN Initiative To Tax Big Tech In Developing Nations Gains Momentum
PYMNTS
NOVEMBER 2, 2020
Here’s the latest news from Google and the technology industry, which is coming under increasing global scrutiny from regulatory watchdogs, consumers and organizations. Regulation. The Digital Markets Act is a second set of regulations. Pew Survey: 47 Pct Of Americans Believe Big Tech Should Face Greater Regulation.
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Will AI Lead to Open Banking in North America?
Bank Innovation
APRIL 30, 2018
EXCLUSIVE— As open banking sweeps through Europe with the launch of PSD2, GDPR, and other regulations focused on transparency, North American financial institutions might want to consider looking to blockchain or artificial intelligence for their own compliance challenges.
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Top 5 Regulator Hot Topics During COVID-19 and Beyond
Abrigo
AUGUST 27, 2020
Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. Tap into technology to help prevent and detect financial crime.
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Top 5 Regulator Hot Topics During COVID-19 and Beyond
Abrigo
AUGUST 27, 2020
Regulators have determined there are five top hot topics that institutions should expect during their next exam. Early communication with your regulator is key to understanding the struggles and successes of managing a BSA/AML program during a global pandemic. Tap into technology to help prevent and detect financial crime.
Regulation 195
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Enforcing AML/KYC Compliance When Legal Precedent Does Not Apply
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.
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