Abrigo
SEPTEMBER 20, 2023
Understanding tax ID fraud FinCrime professionals looking to prevent tax ID fraud, first need to understand the fundamentals of what is happening and their best recourse for prevention. Would you like other articles like this in your inbox? Takeaway 1 Fraudsters file illegitimate tax returns early, hoping people wait to submit their legitimate ones.
Accenture: Banking
SEPTEMBER 20, 2023
In their first post, “It’s now or never: Time for central banks to embrace change,” my colleagues Rohit Mathew and Oliver Reppel explored why central banks need to transform digitally to ensure they can fulfil their mandate. In this post, they explain how central banks can go about changing the way they use data and… The post Reviving the central bank: Getting (everyone) on the data train appeared first on Accenture Banking Blog.
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Payments Dive
SEPTEMBER 20, 2023
Fiserv, Shift4 and rival payments players are vying aggressively for a bigger share of the market catering to pro teams, stadiums and other venues.
Abrigo
SEPTEMBER 20, 2023
Insights into budgeting for BSA/AML and fraud software. Take a moment to consider your best-case scenario budget, and what steps bring you closer to what you need. Would you like other articles like this in your inbox? Takeaway 1 It is never too early to plan. Make time to budget for the department you want, not the department you have. Takeaway 2 Take the time to analyze your needs thoroughly.
Advertiser: Trellis
Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
Payments Dive
SEPTEMBER 20, 2023
The new capability enables cashierless shopping for goods such as clothing, fan gear, hats and shoes.
Community Banking Brief brings together the best content for Community Banking professionals from the widest variety of industry thought leaders.
Payments Dive
SEPTEMBER 20, 2023
The proposed guidelines are the latest effort by the organization to introduce more industry standards for payments processing.
Abrigo
SEPTEMBER 20, 2023
How financial institutions can prevent losses from 1st-party fraud Learn strong approaches to identifying, preventing, and detecting 1st-party fraud that will keep your AML program on top of fraud trends. Join Abrigo for a webinar discussing risk assessments' role in compliance. register now Takeaway 1 1st-party fraud is especially disheartening because it is an inside job and indicates that KYC has been ineffective Takeaway 2 KYC procedures during onboarding and throughout the client relation
CFPB Monitor
SEPTEMBER 20, 2023
The Connecticut Department of Banking (the “Department”) issued a guidance letter on September 11, 2023 (the “Guidance”) providing its position regarding the amendments to Connecticut’s Small Loan Lending and Related Activities Act (the “Act”) that become effective on October 1, 2023. We previously blogged about these amendments here. The Department issued this guidance “to assist industry participants in evaluating the need for licensure and the effect of the various requirements under [the ame
Abrigo
SEPTEMBER 20, 2023
Understanding AML compliance and regulatory expectations. AML compliance is not for the faint of heart. Understanding and dedication are necessary for success. Here are a few tips to help along the way. Would you like other articles like this in your inbox? Takeaway 1 Understand the risks associated with your customers beyond the surface level. Takeaway 2 Identify concentrations of risk and try to level out potential clusters.
Advertiser: ZoomInfo
AI adoption is reshaping sales and marketing. But is it delivering real results? We surveyed 1,000+ GTM professionals to find out. The data is clear: AI users report 47% higher productivity and an average of 12 hours saved per week. But leaders say mainstream AI tools still fall short on accuracy and business impact. Download the full report today to see how AI is being used — and where go-to-market professionals think there are gaps and opportunities.
TheGuardian
SEPTEMBER 20, 2023
Building society’s regular saver for current account holders is one of a growing number paying 6% interest or more Competition among financial firms for a slice of the nation’s savings is intensifying, with Nationwide launching an account paying a “market-leading” 8% interest. A string of Bank of England interest rate rises have pushed up savings rates across the board, and many experts expect another one on Thursday.
CFPB Monitor
SEPTEMBER 20, 2023
The Secretary of Commerce and the other respondents in Loper Bright Enterprises, et al. v. Raimondo have filed their merits brief in the U.S. Supreme Court urging the Court not to overrule its 1984 decision in Chevron, U.S.A., Inc. v. Nat. Res. Def. Council, Inc. The petitioners filed their merits brief on July 17, 2023 and numerous amicus briefs in support of the petitioners have been filed. .
American Banker
SEPTEMBER 20, 2023
More elderly consumers are being diagnosed with Alzheimer's and dementia — making them vulnerable to scammers. Financial institutions are seeking special certifications to better equip themselves to help.
CFPB Monitor
SEPTEMBER 20, 2023
In May 2022, the CFPB issued Circular 2022-3 addressing Equal Credit Opportunity Act (ECOA) adverse action notice requirements in connection with credit decisions based on algorithms. The CFPB is now revisiting the issue in Circular 2023-3. The recent Circular begins with the following question presented: “When using artificial intelligence or complex credit models, may creditors rely on the checklist of reasons provided in CFPB sample forms for adverse action notices even when those sample reas
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American Banker
SEPTEMBER 20, 2023
The payment company is using a new OpenAI tool to expand its shopping and customer service technology.
Jack Henry
SEPTEMBER 20, 2023
Community and regional banks and credit unions can learn about payments trends in 2023, FedNow, streamlining experiences, reducing fraud and risk, and the future of payments.
American Banker
SEPTEMBER 20, 2023
As the United Nations General Assembly convenes in New York to discuss global development, delegates must not overlook the importance of financial services for small businesses in emerging economies.
BankInovation
SEPTEMBER 20, 2023
TORONTO — Forty-three percent of the audience identified cybersecurity as the No. 1 risk management concern, according to a poll taken Monday during a risk-management session at the Sibos 2023 event this week.
Advertiser: ZoomInfo
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American Banker
SEPTEMBER 20, 2023
The African American Credit Union Coalition is working with the Louisiana Credit Union League to promote programs for recruitment and career advancement.
BankInovation
SEPTEMBER 20, 2023
NatWest is deepening its ties with Amazon Web Services to leverage the IT solutions provider’s generative AI capabilities. By the end of 2027, the $886 billion bank aims to use AWS’ generative AI to help nearly 10 million people manage their finances, according to a Sept. 18 NatWest release.
American Banker
SEPTEMBER 20, 2023
U.K. regulators rule on complaints about bias from politicians, Brazil's Ebanx extends to India and more in our weekly financial news roundup.
The Paypers
SEPTEMBER 20, 2023
Sweden-based Froda has announced its partnership with Visa and Checkout.com in order to enable Visa Direct for embedded business loans payouts.
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American Banker
SEPTEMBER 20, 2023
The banking industry, which has a long history of sponsoring sporting events, is pouring more money into the live-music industry, according to a new report. Music-related events and properties make up 39% of the sector's sponsorship portfolio, up from 25% two years ago.
The Paypers
SEPTEMBER 20, 2023
UK-based biometric authentication tech provider iProov has announced a new integration with Ping Identity ’s Ping One DaVinci system.
BankInovation
SEPTEMBER 20, 2023
Goldman Sachs Group Inc. is in advanced talks to sell its GreenSky unit to a consortium that includes Sixth Street Partners, according to people familiar with the matter. No final decision has been made and discussions could fall through, said the people, who asked to not be identified because the matter isn’t public.
American Banker
SEPTEMBER 20, 2023
The move, which follows the launch of the service in Brazil and Singapore, taps a market with more than 400 million WhatsApp users.
Advertiser: ZoomInfo
Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.
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