Tag: financial services

Top Banking Regulations & Security Compliance Requirements for 2018

Posted by Michael Magrath - August 28, 2018

The Developments Impacting Financial Institutions Now It’s hard to wrap your head around all the myriad regulations for financial institutions, and these changes can directly impact an organization’s digital transformation initiatives. Many countries are calling for further regulation, while in the U.S. we’re seeing reform and deregulation, as evidenced by the…

Practical Steps for Compliance with NYDFS Regulation Part 504

Posted by Adil Raza - April 12, 2018

5 Actions to Take Now With the New York State Department of Financial Services (“DFS”) Part 504 regulation’s first annual compliance certification deadline approaching, financial institutions must ensure compliance as soon as possible. This piece discusses practical steps to benchmark your program against the requirements. The International Monetary Fund estimates…

Third-Party Due Diligence Requirements for Financial Institutions

Posted by Corporate Compliance Insights - March 20, 2018

Sylwia Wolos, Head of Proposition, Enhanced Due Diligence at Thomson Reuters speaks with Finextra TV, covering topics including the latest third-party due diligence requirements for financial institutions, key new technological developments in due diligence research and the potential for aligning overlapping aspects of anti-money laundering (AML) and third-party risk compliance processes…

The Real Return on Risk and Compliance Technologies

Posted by Grace Brasington - March 2, 2018

The Value of Big Data A crucial shift is underway in the financial services industry when it comes to regulatory compliance; cultures are changing, and new value is being created for banks and their customers because of AI technology. Grace Brasington of Watson Financial Services discusses the role technology can…

5 Security and Compliance Trends to Watch in 2018

Posted by Anthony West - February 26, 2018

Putting Plans Into Effect As tech evolves, so too does the compliance landscape, and keeping up can prove quite the challenge for many businesses. Here, we share trends and predictions from Anthony West, CTO at Actiance and an expert in electronic communications compliance. While 2017 was spent frantically preparing for…

U.S. Financial Institutions Face New Risk Regulations

Posted by Laura Glynn - October 30, 2017

The Reality of the New FinCEN CDD Rule The FinCEN Final Rule on Customer Due Diligence (CDD) is designed to improve global corporate transparency in the wake of recent scandals. This new rule will have a significant impact on the requirements of financial institutions and the way in which they…

Research Billing: The Current State of Affairs

Posted by Daniel Carpenter - October 26, 2017

U.S. financial institutions are scrambling to adjust to the expected shift within the trading industry with the implementation date of MiFID II, January 3, 2018,  quickly approaching. Whether or not financial institutions plan to absorb the cost of research, middle and back office CSA and research processes and reporting must adapt…

6 Trends in AML Compliance

Posted by Ambreesh Khanna - October 17, 2017

Translating Smart Investments to Improved Governance and Customer Relationships Anti-money laundering regulations (AML), including Know Your Customer (KYC) requirements, are hardly a new concept in the world of financial services. Over the years, financial institutions have largely mastered the mechanics of compliance. There is, however, significant opportunity for improvement, especially…

Strengthening Compliance with AML-as-a-Service

Posted by Sujata Dasgupta - October 5, 2017

A Tectonic Shift in Operating Models? Financial services has always been a heavily regulated industry. And while anti-money laundering and counter-terrorist financing regulations are getting more stringent by the day, financial criminals continue to find ways to bypass the strict monitoring rules employed by banks. Banks face increased regulatory scrutiny,…

Minimizing Risk through Geospatial Technology

Posted by John Popeo - October 4, 2017

The Need for Regulatory Support Financial institutions and federal bank regulators can integrate location intelligence as a regulatory technology (Regtech) solution to ensure compliance with anti-money laundering (AML) standards, financial inclusion requirements, and fair lending regulations. This article outlines the key benefits for banks and regulatory authorities of integrating geospatial…

Is Artificial Intelligence Ready for Financial Compliance?

Posted by Daniel Fernandez - September 19, 2017

Key Challenges and Benefits of AI Machine learning and artificial intelligence have become buzzwords in the financial services industry. Daniel Fernandez helps to break down the difference between the two terms and explains how these technologies are being used by compliance departments today. By delving into how these technologies work,…

The Battle for Call Recording Compliance

Posted by Skip Chilcott - September 14, 2017

A “Call” to Arms for Banks In the wake of growing and complex financial legislation, many banks and financial service companies in the U.S., Europe, and Asia have been looking to ensure the activities of their traders and contact centers are compliant with these regulatory requirements. However, call recording compliance…