PYMNTS

JUNE 23, 2016

The technology is typically used by financial institutions to help prevent fraud when customers open a new bank account or when issued credit or debit cards. But it can also be utilized in applications across fraud prevention and compliance to help businesses adhere to anti-money laundering (AML) regulations.

Investments 42

Investments Securities Compliance Financial Systems 42

PYMNTS

AUGUST 7, 2019

Based on the flurry of consumers scrambling to get their $125 settlement from Equifax , data security is an issue with far-reaching consequences. The benefits of digital IDs might seem apparent – especially among financial institutions – but consumers aren’t fully on board yet. PYMNTS’ Digital Identity Lifestyle Capsule found that 45.2

Securities 74

Securities Healthcare Accounting Financial Systems 74

PYMNTS

DECEMBER 23, 2020

21) following months of debate will assist financial institutions by relaxing an important small-business lending initiative’s regulations, providing deferred loan payment accounting relief and bolstering the financial position of borrowers, Reuters reported. The other role that we have is financial inclusion.

B2B 84

B2B Corporate Finance Finance Securities 84

PYMNTS

SEPTEMBER 24, 2019

One of the biggest problems, Blanco said, is account takeover. . Account takeover, which involves the targeting of financial institution customer accounts to gain unauthorized access to funds, is an extremely common cybercrime affecting U.S. financial institutions,” he said.

Compliance 71

Compliance Financial Systems Accounting Securities 71

PYMNTS

JULY 1, 2019

Hacks and data breaches have become all too common, with fraudsters turning to “brute force” attacks and plugging in commonly used passcodes to gain access to users’ accounts. Unfortunately, FIs are often caught between balancing more stringent security tools and offering the seamless experiences consumers crave.

Banking 75

Banking Securities Compliance Communication 75

PYMNTS

APRIL 9, 2020

Although SWIFT revealed plans for its account-to-account functionality last month, the announcement only began making headlines a few days ago. The technology aims to mix payment rails, with companies paying their invoices via card on the Billhop platform, and Billhop paying those vendors via direct deposit to their bank account.

B2B 83

B2B Invoicing Banking Currencies 83

Simply Treasury

JULY 12, 2021

Paradoxically, "retail" developments are often faster and more intense than "corporate" developments, notably for reasons of security and integration into the IT systems of large companies. These companies are often managing finance and treasury on separate financial systems which are poorly integrated, if integrated at all.

Treasury 130

Treasury Cash Flow Forecasting Concentration Finance 130

PYMNTS

JANUARY 15, 2021

These violations, said FinCEN, “caused millions of dollars in suspicious transactions to go unreported in a timely and accurate manner, including proceeds connected to organized crime, tax evasion, fraud, and other financial crimes laundered through the bank into the U.S. financial system.”.

Banking 107

Banking Compliance Currencies Financial Systems 107

PYMNTS

OCTOBER 12, 2016

The basis for blockchain technology is something that works well in practice, but not in theory,” said Luther Martin at HPE Security-Data Security. But security and blockchain are two words that create an issue that has many people questioning. “The Blockchain Startup Contest is the very thing that the industry needs.

Startups 77

Startups Securities Financial Systems Technology 77

Global Finance

JUNE 6, 2024

The Bank of Namibia (BoN) has signed an agreement with NPCI International Payments Limited (NIPL), an international arm of the National Payments Corporation of India (NPCI), to develop a secure national payment system, similar to India’s Unified Payment Interface (UPI) using the same technology.

Strategic Planning 62

Strategic Planning Financial Systems Banking Finance 62

PYMNTS

JUNE 26, 2020

“[They were exploring] how to educate people better [about] managing and spending money and bring them back into the financial system as good payers.”. Open banking’s nature fortunately provides superior data security to traditional banking models. Open Banking Prevents Data Exposure. In the U.K.,

Banking 79

Banking Securities Education Financial Systems 79

PYMNTS

JUNE 9, 2017

With eCommerce transactions moving at the speed of light, the ability to have transparency between parties is likely crucial to preventing security breaches. Four Japanese financial institutions participated in trying out a blockchain prototype developed by New York-based software platform Corda.

Financial Systems 68

Financial Systems Healthcare Technology Banking 68

https://trustedcfosolutions.com/feed/

MARCH 30, 2023

Your accountant is the unsung hero who supports you through all the ups and downs of your financial journey. But even the most experienced accountants face their own set of challenges, especially when it comes to the monthly close. It will keep you organized and accountable during the accounting period and month-end close.

Leverage 62

Leverage Financial Data Accounting Communication 62

PYMNTS

FEBRUARY 20, 2020

The Akoya platform taps an application programming interface (API) network for a secure, transparent inroad consumers can use when giving third-party financial apps access to their personal financial data. The new network boosts financial system security as it speeds up API adoption.

Startups 56

Startups Financial Data Securities Financial Systems 56

PYMNTS

MARCH 3, 2020

The hacking of virtual currency exchanges and related money laundering for the benefit of North Korean actors poses a grave threat to the security and integrity of the global financial system,” said U.S. national security,” said Don Fort, chief, IRS-CI. “We Attorney Timothy J. The DOJ also said that the U.S.

Currencies 56

Currencies Financial Systems Securities Economics 56

PYMNTS

DECEMBER 14, 2018

Banks and businesses handling personal information face a delicate balancing act as global systems embrace smarter payments. They must deliver services that customers and clients demand while securing their personal data. By some accounts , more than 90 percent of existing data was created after 2014. billion payments by 2026.

Advertising 72

Advertising Securities Banking Financial Systems 72

Global Finance

OCTOBER 11, 2024

The banks “failed as a result of a combination of unrealized interest rate losses from their long-term, fixed-rate assets and the loss of the low-rate deposits that had funded these assets,” Larry Wall, research center executive director of the Atlanta Fed’s Center for Financial Innovation and Stability, explained in a blog post.

Banking 105

Banking Foreign Exchange Profit and Loss Finance 105

PYMNTS

JANUARY 7, 2020

Other initiatives include a focus on payments security, as well as connecting bank data to small business accounting portal QuickBooks. One of them is The Huntington National Bank, which announced a partnership with Automated Financial Systems (AFS) to integrate with its commercial lending platform, AFSVision.

Banking 56

Banking Accounting Securities Financial Systems 56

Global Finance

JULY 29, 2024

Banks inject trust into the financial system,” says Sandeep Vishnu, a partner at industry consultant Capco. Rocket Mortgage or another US originator may find the home-buying customer; the loan will likely be packaged into a mortgage-backed security and bought by a bank. The result: 400 million new bank accounts.

Banking 88

Banking Profit and Loss Financial Systems Technology 88

PYMNTS

JANUARY 6, 2020

Any kind of financial company operating in Jamaica that facilitates financial transactions — including central counter parties and trade repositories, securities settlement systems, and central securities depositories — will be more thoroughly monitored by the BOJ.

Banking 52

Banking Financial Systems Securities Marketing 52

PYMNTS

SEPTEMBER 30, 2019

The bank accounts? Well, they’re frozen, and it doesn’t really matter, because all the accounts have been drained right down to zero. Beyond the lures of money, there are other nation-states that may want access to a financial system, but for different reasons. Go to sleep one night, and all is well.

Nonprofit 65

Nonprofit Currencies Financial Systems Securities 65

PYMNTS

MAY 2, 2019

The service will allow customers to quickly setup a blockchain network spanning multiple AWS accounts via the AWS Management Console, and is able to support thousands of applications and millions of transactions using open source frameworks like Hyperledger Fabric and Ethereum. These thefts only represent the losses that are visible.

Financial Systems 62

Financial Systems Numbers Accounting Securities 62

PYMNTS

SEPTEMBER 17, 2020

Whether that's a lack of security if a piece of paper falls into the wrong hands, or simply the pain of having to manually store a document or capture its data, paper is far from the most efficient way to do business. That's particularly true for finance teams like accounts payable , accounting or payroll.

Accounts Payable 63

Accounts Payable Compliance Invoicing Finance 63

CFO Talks

JULY 4, 2024

Here are the most valuable and practical insights from their discussion: Embrace Diverse Backgrounds for CFO Roles Traditionally, CFOs have come from strong accounting backgrounds. Dr. Ayiku highlighted that digital payments offer significant advantages, including reduced errors, increased speed, and improved transaction security.

CFO 52

CFO Strategic Planning Currencies Prioritization 52

CFO Strategic Partners

OCTOBER 21, 2021

Securing new talent that propels the organizations forward When several clients experienced unexpected turnover on the CFO level, each of them reached out to CFO Strategic Partners for guidance. We ensured the accounting and finance team was communicated with throughout the transition. Our work was a success! We can help.

CFO 52

CFO Leadership Prioritization Education 52

Future CFO

JANUARY 10, 2024

That is why collaborating with an experienced payment partner who can deploy advanced digital security features such as encryption and multi-factor authentication can be proven a big help. This standardisation serves as a safeguard against the redirection of funds to unauthorised accounts.

Accounts Payable 52

Accounts Payable Invoicing Financial Systems Accounting 52

VCFO

AUGUST 16, 2023

Money Laundering Prevalence and Practices When bad actors possess large sums of cash that they want to place into the financial system without raising flags, money laundering techniques such as “structuring” are used. Collectively, these efforts are helping them weather the storm and emerge on the other side in a stronger position.

Compliance 84

Compliance Banking Risk Management Currencies 84

Global Finance

OCTOBER 10, 2024

Bangladesh has suffered years of financial system dysfunctionality. Still, the full extent of the malfeasance of Hasina’s Awami League regime is set to emerge, as Mansur described the “designed robbery of the financial system” in a BBC interview given shortly after his appointment. in 2023 and is forecast to hit 5.8%

Benchmarking 90

Benchmarking Foreign Exchange Forecasting Economics 90

PYMNTS

JANUARY 21, 2019

In addition to the delay in giving people and businesses access to funds, FIN members claim that working through those intermediaries causes increased risk and costs, given the legacy nature of the current financial systems infrastructure. That suggests that putting the Fed front-and-center in the U.S. Could it be better?

Banking 77

Banking Financial Systems Leverage Accounting 77

PYMNTS

SEPTEMBER 16, 2019

In commentary sent to PYMNTS from Plaid, CEO Zach Perret said that “we draw inspiration from the work that the networks have done and look forward to collaborating with Visa and Mastercard at the intersection of commerce and financial services.

Investments 56

Investments Valuation Financial Systems Financial Data 56

PYMNTS

MARCH 18, 2019

This new feature, available to PayPal customers in good standing, leverages the company’s partnership with Chase, and Chase’s connection to The Clearing House’s RTP network, to move money instantly into the bank accounts of consumers and SMBs. On its website, TCH also says RTP is the system that “all federally insured U.S.

Banking 80

Banking Accounting B2C B2B 80

PYMNTS

JULY 11, 2019

Such a solution would allow consumers to own their digital identities and use them for whatever they need, rather than having to create individual accounts and passwords for every service or relying on a single log-in tool from a massive corporation like Apple or Google. Can Facebook Be Trusted To Secure Financial Data?

Financial Data 49

Financial Data Securities Auditing Compliance 49

PYMNTS

MAY 25, 2018

Much of the money was reportedly laundered through bank accounts belonging to non-residents, Reuters reported. “In billion in securities from Russia were processed through the Estonian financial system. It is also alleged that Danske Bank shut down 20 Russian customer accounts following that whistleblower report.

Leadership 48

Leadership Financial Systems Banking Accounting 48

PYMNTS

JUNE 22, 2020

The news Monday clouded an already darkening picture: Wirecard said in a statement Monday that “further examination” has revealed a “prevailing likelihood” that the missing $2 billion has never been in its accounts and in fact does not exist. That means roughly a quarter of the company’s balance sheet was possibly fictitious. .

Auditing 77

Auditing Banking Financial Systems Financial Data 77

PYMNTS

AUGUST 6, 2019

Introduced on Monday by Federal Reserve Board Governor Lael Brainard, the Fed’s instant payment scheme FedNow is designed to offer an option for consumers and business to transfer money instantly or nearly instantly in a “ubiquitous, safe and efficient” manner from one bank account to another. “We financial system and the U.S.

Banking 85

Banking Financial Systems Securities Accounting 85

PYMNTS

JULY 10, 2020

The failed loan was granted to mortgage lender Dewan Housing Finance Limited, which has faced its own financial troubles, the Journal reported. The incident has spotlighted a series of bad loans and too few controls that would protect lenders from misconduct that plagues the country’s financial system, the newspaper reported.

Banking 53

Banking Auditing Financial Systems Finance 53

CFO Thought Leader

MAY 21, 2023

While chief accountant for the SEC’s investment management division, Alison Staloch reports, she found herself being greeted by a degree of inclusive enthusiasm that she had seldom encountered before. Says Staloch: “At the time, I still had thoughts about going back to public accounting. I thought to myself, ‘Wow!—this

CFO 52

CFO Accounting Investments Accounting Standards 52