PYMNTS

JUNE 5, 2020

Open banking provides opportunities such as upgraded customer convenience and customized financial solutions that can help consumers access bank account details, send payments, manage their budgets and more. Open banking-facilitated apps can offer tailored support, reducing the need for in-person services.

Securities 69

Securities Banking Leverage Accounting 69

PYMNTS

JULY 16, 2019

Treasury Secretary Steven Mnuchin believes that Facebook’s proposed cryptocurrency could pose as a national security threat. In a press conference on Monday (July 15), Mnuchin warned that Libra “could be misused by money launderers and terrorist financiers” and that it was a “national security issue.”.

Treasury 75

Treasury Securities Currencies Financial Systems 75

Future CFO

JULY 18, 2023

Higher interest rates raise risks for non-bank financial institutions globally, said Moody’s recently. Given higher interest rates and lower growth, distress in the largely unrated non-bank financial institution (NBFI) sector globally could have spillover credit impacts on many other sectors, the credit rating agency noted.

Banking 52

Banking Leverage Risk Management Financial Systems 52

PYMNTS

JANUARY 15, 2021

The Financial Crimes Enforcement Network (FinCEN) late Friday (Jan. 15) announced that it is assessing a $390 million penalty against Capital One for engaging in what it says are “both willful and negligent violations” of the Bank Secrecy Act (BSA). financial system.”.

Banking 107

Banking Compliance Currencies Financial Systems 107

PYMNTS

DECEMBER 22, 2020

The State Bank of Pakistan (SBP) is looking at making corporate supply chains digital, a report from Pakistan Today stated, with an eye toward more financial inclusion. “It It is the overarching aim of the State Bank to ensure a safe and secure financial system," said SBP Deputy Governor Sima Kamil at a web conference, per the report.

Banking 86

Banking Invoicing Financial Systems Retail 86

PYMNTS

MARCH 13, 2020

ICICI Bank in India has announced it will initiate a rescue deal with Yes Bank to the tune of up to 10 billion rupees ($135 million), according to Reuters. Yes Bank is India’s fifth-largest private bank. Yes Bank had been struggling to offload a number of bad loans.

Banking 60

Banking Financial Systems CFO Planning 60

PYMNTS

JUNE 26, 2020

More than 10,000 financial institutions (FIs) around the world are implementing or exploring open banking , an emerging trend in the financial industry that allows banks and FinTechs to freely share their data, encouraging collaboration and the development of new customer-facing services. Open Banking’s Data Benefits.

Banking 79

Banking Securities Education Financial Systems 79

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 64

Strategic Planning Financial Systems Banking Finance 64

PYMNTS

MARCH 6, 2020

The Indian government has seized control of its fourth-largest private bank as it organizes a bailout plan and temporarily limits how much depositors can withdraw, according to reports on Friday (March 6). The RBI has capped the withdrawal limit at Rs 50,000 ($676) for 30 days, sending people into a panic and emptying Yes Bank’s ATMs of cash.

Planning 67

Planning Banking Financial Systems Securities 67

PYMNTS

JULY 21, 2020

Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. Regulators in other regions, including Latin America, are also shaping and announcing plans to enable open banking and better support digital financial systems.

Banking 91

Banking Financial Systems Planning Compliance 91

CFO News Room

NOVEMBER 18, 2022

Why this new book, focusing on central banks and their influence? Nomi Prins: Since the financial crisis, one of the themes in my books is money and power. LP: You place the roots of this trouble in 2008, a year which, you point out, increased the power of central banks. economy and Wall Street.

Banking 100

Banking Economics Leverage Marketing 100

PYMNTS

SEPTEMBER 21, 2020

Gross negligence – or evidence of a battle waged by banks that requires new, high-tech weaponry? To that end, and as reported by BuzzFeed , documents submitted by banks to the U.S. The headlines blare a chorus: Banks are not doing their jobs. In terms of dollar amounts, Deutsche led the pack at $1.3 billion in fines.

Banking 139

Banking Leverage Compliance Technology 139

PYMNTS

JULY 1, 2020

The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). Grappling with such increased demand with fewer resources might make it challenging for banks to satisfy at least some regulatory requirements, such as data privacy.

Compliance 66

Compliance Banking Currencies Financial Systems 66

PYMNTS

JULY 1, 2019

Unfortunately, FIs are often caught between balancing more stringent security tools and offering the seamless experiences consumers crave. Modern customers are much more likely to grow frustrated by lengthy processes and switch to other banks, after all. Biometrics and the Benefits for Security .

Banking 75

Banking Securities Compliance Communication 75

PYMNTS

JANUARY 6, 2020

The Central Bank of Jamaica (BOJ) has confirmed it will abide by the Principles for Financial Market Infrastructures (PFMIs). Regionally operated payment systems in Jamaica will consequently be regulated more closely. FMIs improperly regulated and governed could pose significant challenges to enhancing stability.

Banking 52

Banking Financial Systems Securities Marketing 52

PYMNTS

JANUARY 7, 2020

Open Banking and bank-FinTech collaboration are the new norm for financial institutions around the world looking to upgrade their offerings for small businesses (SMBs). Other initiatives include a focus on payments security, as well as connecting bank data to small business accounting portal QuickBooks.

Banking 56

Banking Accounting Securities Financial Systems 56

PYMNTS

JULY 10, 2020

Punjab National Bank shares fell by nearly 6 percent late Thursday (June 9) after it was defrauded $491 million by one of its customers, The Wall Street Journal reported. The failed loan was granted to mortgage lender Dewan Housing Finance Limited, which has faced its own financial troubles, the Journal reported.

Banking 53

Banking Auditing Financial Systems Finance 53

PYMNTS

MAY 13, 2020

The Bank of Mauritius is progressing toward providing a central bank digital currency (CBDC) per its governor, CoinDesk reported. Seegolam noted that any digital currency would need to be distributed via the current banking system to steer clear of the risk of putting the island’s financial system in an uneven position.

Currencies 61

Currencies Banking Forecasting Financial Systems 61

PYMNTS

NOVEMBER 19, 2018

Danske Bank whistleblower Howard Wilkinson, speaking during a public hearing at the Danish parliament Monday (Nov. 19), contended that a major European bank helped to process as much as $150 billion in suspicious payments, and noted that two U.S.-based based lenders were involved. are investigating $228.5

Banking 65

Banking Financial Systems Securities 65

PYMNTS

JUNE 28, 2018

One of the recent cyberattacks against Latin American financial institutions, this one targeting Mexico’s central bank, resulted in the theft of a reported $15.2 The lack of security cooperation between bankers and regulators also comes up for blame. Fraud is a Top Worry. But that may now change, he said.

Securities 40

Securities Banking Compliance Financial Systems 40

PYMNTS

OCTOBER 23, 2018

SBI President and CEO Yoshitaka Kitao said in the announcement that signatures based on MPC “offered our desired level of security, performance and scalability needed to manage transactions for our growing SBI Virtual Currencies customer base.”. With the company’s Earn product, consumers will be able to get interest on stablecoin holdings.

Startups 76

Startups Banking Currencies Financial Systems 76

PYMNTS

APRIL 24, 2019

Wirecard, the digital financial technology company announced on Wednesday (April 24) that it has expanded a partnership with RBL Bank to promote financial inclusion in India. The service is available to all citizens in India with the Aadhaar number linked to a bank account.

Banking 49

Banking Financial Systems Numbers Retail 49

PYMNTS

JANUARY 15, 2020

Eisenbach, Anna Kovner and Michael Junho Lee, is “Cyber Risk and the US Financial System: A Pre-Mortem Analysis.”. The cyberattack in question could wreak havoc on financial firms. The authors seek to quantify how the attacks may be “amplified” through the financial system. counties, the authors added.

Banking 53

Banking Concentration Financial Systems Reconciliations 53

The Finance Weekly

MARCH 16, 2023

The quick and unexpected collapse of the second and third largest bank collapses in US history sent shock waves throughout the markets. Silicon Valley Bank (SVB) collapsed last Friday and it sent both private and public companies scrambling to address what exposures they had with SVB and other banks that might be at risk.

Leadership 105

Leadership CFO Startups Compliance 105

PYMNTS

JULY 30, 2019

JPMorgan has announced it will go “full force” in China to take on the state-run Industrial and Commercial Bank of China (ICBC), which is the biggest bank in the world, according to a report by Bloomberg. company has won approval for a majority stake in a Chinese securities joint venture. trillion for JPMorgan. in Hong Kong.

Banking 46

Banking Financial Analyst Financial Systems Economics 46

PYMNTS

OCTOBER 27, 2016

government is mandating financial institutions to disclose details about cyberattacks when submitting reports on fraud and money laundering. The goal is for the additional information to help combat the growing threat that digital crimes pose to the country’s financial system, Reuters reported on Tuesday (Oct. Banks in the U.S.

Treasury 59

Treasury Banking Financial Systems Securities 59

PYMNTS

JANUARY 15, 2018

The China Banking Regulatory Commission (CBRC) announced this past weekend that it is focusing on boosting oversight of banking and interbank activities. The CBRC also said it is gearing up to enact stronger risk controls for financial products, interbank activities and off-balance sheet business.

Banking 43

Banking Advertising Financial Systems Leverage 43

PYMNTS

JULY 17, 2020

Chinese regulators have seized control of nine financial institutions (FIs) alleging they violated rules and jeopardized the country’s financial system. In addition, the China Securities Regulatory Commission said it seized New Times Securities, Guosheng Securities and Guosheng Futures and two trust firms, New China Trust Co.

Financial Systems 60

Financial Systems Securities Banking Economics 60

PYMNTS

JUNE 29, 2020

billion of supposed deposits were missing from two banks in the Philippines. MAS noted that it requires financial institutions to report all suspicious transactions, including transactions that are large, complex or present unusual patterns with no apparent economic or lawful purposes. and the Bank of the Philippine Islands.

Banking 56

Banking Financial Systems Economics Accounting 56

CFO Talks

JULY 4, 2024

Key Takeaway: Companies should consider candidates from diverse professional backgrounds for CFO roles to bring a holistic approach to financial leadership, encompassing not just accounting, but also operations, IT, HR, and strategic development. Key Takeaway: Embracing digital payment technologies can lead to substantial efficiency gains.

CFO 52

CFO Strategic Planning Currencies Prioritization 52

Future CFO

JANUARY 22, 2024

Modern accounting software integrates seamlessly with diverse financial systems, automating tasks such as data entry, bank reconciliation, and invoice processing. Real-time Data Insights The advent of cloud-based accounting solutions has turned real-time financial data availability into a reality for businesses of all sizes.

Accounting 52

Accounting Reconciliations Financial Analysis Financial Data 52

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

Future CFO

AUGUST 16, 2020

The extension of a deadline for Chinese financial institutions to comply with new asset-management rules will probably ease pressures facing the shadow-banking sector though the scale of the effect will be limited, said Fitch recently. This will result in a further reduction in securities and trust companies’ channel business.

Banking 40

Banking Financial Systems Finance Leverage 40

PYMNTS

FEBRUARY 27, 2020

A cross-section of European financial powerhouses – including members of the Euro Cyber Resilience Board for pan-European Financial Infrastructures (ECRB), chaired by the European Central Bank (ECB) – have joined forces to launch a sharing initiative for cybersecurity threat information, ECRB announced on Thursday (Feb.

Financial Systems 82

Financial Systems Securities Banking 82

Global Finance

OCTOBER 10, 2024

Australia Michele Bullock: Too Early To Say Reserve Bank of Australia veteran Michele Bullock took the helm as the bank’s first female governor in September last year during intense soul-searching at the institution, which had come under critical scrutiny during the tenure of her predecessor, Philip Lowe.

Benchmarking 52

Benchmarking Foreign Exchange Forecasting Economics 52

PYMNTS

MAY 20, 2020

The European Central Bank (ECB) is the European Union’s foremost regulatory body. It also works to ensure that financial products and services can be distributed as smoothly and safely as possible. The 27 EU member states have their own financial systems, and many have also implemented their own domestic real-time payments rails.

Financial Systems 84

Financial Systems Banking Securities Marketing 84

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. State Bank Of Pakistan Eyes Digitizing Corporate Supply Chains.

B2B 84

B2B Corporate Finance Finance Securities 84