BFC FinTech Monitor 20th – 27th March

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor Around the World: McKinsey and Company has issued recommendations for financial institutions regarding COVID-19 as well as probable economic consequences of the pandemic. A study by CB Insights has …

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7 key digital trends driving compliance and risk management

Financial institutions, under increasing regulatory pressure, are tapping into a wide range of digital technologies to drive compliance innovation. Here are 7 key ones making an impact in the world today: Robotic process automation streamlines compliance processes and provides for the rapid integration of front- and back-end systems that track …

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Creating a centralized blockchain platform for compliance

Blockchain technology has been a polarizing technology, but many are now coming to understand how it can be used to improve the know-your-customer (KYC) and anti-money laundering (AML) efforts of financial institutions. Specifically, blockchain technology offers the potential to solve existing inefficiencies, particularly those related to data asymmetries between financial …

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Natural language processing for compliance

With an increased focus from regulators and financial institutions on compliance, artificial intelligence (AI)-based solutions are being increasingly examined for their potential. One of the more interesting solutions is the application of natural language processing, which is capable of combining the results of surveillance and conversation monitoring to produce suspicious …

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e-KYC can solve compliance-related challenges

For most financial institutions, the core of what takes onboarding so long is the collection, validation and processing of consumer data and documentation as part of an effort to ensure they conform to know-your-customer (KYC) regulations. This makes for an unnecessarily-long onboarding process, delayed time-to-revenue and high abandonment rates. To …

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The switch to AI and machine learning KYC and AML compliance

With increasing pressure from regulators regarding know-your-customer (KYC) principles and anti-money laundering (AML), many financial institutions are now turning to artificial intelligence (AI)- and machine learning-based solutions to automate and speed up these processes. Although most financial institutions have some automated processes in place, they are typically only rule-based and …

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BFC FinTech Monitor 13th – 20th March

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor Around the World: The FinTech Times has predicted how the outbreak of the coronavirus and the subsequent quarantine measures will impact the FinTech market. Specifically, they predict that, although people will …

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7 key compliance trends for Kazakhstan in 2020

Compliance is continuing to evolve in Kazakhstan, and our friends at banker.kz have outlined 7 key compliance trends for the country in 2020: Compliance risk management and internal control systems will be reviewed. The National Bank of the Republic of Kazakhstan passed revised risk management system and internal control requirements …

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Technology’s influence on compliance

Compliance was once viewed solely as a tool to ensure regulatory compliance, but it has quickly become an integral element of corporate culture. Much of this change in perspective is due to the advent of new technological solutions. For example, compliance was once a largely manual process that could take …

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Moscow to host compliance conference in May

Dialogue Management Partners is hosting the third annual Compliance, Internal Control and Audit in Financial Institutions conference in Moscow in late May 2020. The conference will feature a number of banking experts discussing practical experiences and the latest solutions in compliance from around the world. Find out more here Russia creates …

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Bank of Russia approves RegTech and SupTech roadmap

The Bank of Russia has approved a RegTech and SupTech roadmap to ensure effective and high-tech regulation and supervision in the country. The roadmap was designed to: determine the goals and objectives of SupTech, outline key activities to achieve them, identify the main areas of activity on the side of …

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BFC FinTech Monitor 5th – 13th March

Stay up-to-date on all the all the latest FinTech news and information from around the world in the BFC FinTech Monitor.  Around the World: Amsterdam will play host to the Money 20/20 international FinTech conference in mid-June. Confirmed speakers include experts from Goldman Sachs, Netflix and Airbnb. According to a …

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Video: real-time compliance for a connected world

With more and more business taking place across borders, cross-border payments are becoming increasingly important. As these payments speed up and move toward real-time, compliance teams need to be able to ensure that they are still able to effectively manage and monitor risk. Here are 5 steps to achieving real-time, …

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Video: 5 2020 financial intelligence trends

Financial institutions are always on the lookout for effective and innovative ways to combat fraud, ensure anti-money laundering compliance and enhance security. Let’s take a look at 5 trends expected to optimize financial intelligence goals this year. Key security questions in an open banking ecosystem Video: Visa B2B Connect to …

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Video: fighting financial crimes with AI and machine learning

The battle against financial crimes has a new and exciting tool at its disposal. Using artificial intelligence (AI) and machine learning, this new automated solution detects suspect activities. Learn how this tool and others like it are being employed to fight fraud and stay ahead of changing regulatory-compliance requirements. Video: …

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Video: how analytics is transforming anti-money laundering processes

Financial markets around the globe are continuously seeking a better balance between risk mitigation and operational efficiency, highlighting the need for robust analytics. Take a look at how the need to modernize anti-money laundering processes and improve digital transformation are driving the creation of innovative solutions and impacting markets. Infographic: …

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Video: data-driven technologies for empowering finance

A constantly-changing regulatory environment and increased consumer demands are constantly putting pressure on financial institutions to provide faster, more convenient and safer solutions. Risk and compliance experts Casper Stam and Ulrich Windheuser have an interesting discussion on how emerging data-driven technologies can empower innovative solutions that provide consumers with better …

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Video: the benefits and challenges of FinTech, RegTech and InsurTech

Although the effective implementation of FinTech, RegTech and InsurTech solutions has much to offer the financial services industry, there are still numerous challenges to overcome before these solutions can really move us into a new era of financial services. Join Susannah Hammond as she discusses the benefits of implementing these …

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