PYMNTS

JULY 2, 2019

When reports last week in the Financial Times ( FT ) highlighted the thousands of offshore bank accounts frozen by Lloyds Banking Group , the news thrust the issue of anti-money laundering (AML) into the global spotlight, once again, as banks ramp up efforts to comply with more stringent regulations.

Compliance 46

Compliance Banking Data Analysis Risk Management 46

Boston Startup CFO

APRIL 3, 2023

Financial accounting: A topic that can easily disorient even the most driven entrepreneurs. Fortunately, we present you with a compass – a diagram that demystifies the functions of financial accounting. In this tier, a double-entry accounting system is employed to ensure the accurate recording of all transactions.

Accounting 52

Accounting Accounting Principles GAAP Startups 52

PYMNTS

MARCH 26, 2018

Wells Fargo, weeks after it was hit with a rare enforcement action from the Federal Reserve, is overhauling its risk management processes and announced internally that four top risk management executives would be retiring. All are retiring in April, May or June. However, the FI can still lend and take deposits.

Risk Management 40

Risk Management Compliance Currencies Banking 40

PYMNTS

MAY 21, 2020

Open banking initiatives and bank-FinTech collaborations continue to expand in an effort to improve financial services offerings for small and medium-sized businesses (SMBs). Built on the bank-FinTech collaborative model, startup Treasury Prime recently announced a $9 million Series A funding round for its API technology.

Banking 69

Banking Treasury Compliance Risk Management 69

PYMNTS

JUNE 17, 2020

In financial fraud, the breaches come when bank standards are lax. Australian bank Westpac Banking Corp. While the compliance failures were serious, the problems were faults of omission,” CEO Peter King said this month, according to ZDNet. Westpac said it identified three drivers of compliance failures, ZDNet reported.

Banking 75

Banking Compliance Risk Management Credit Risk 75

CFO Leadership

OCTOBER 18, 2023

AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. However, they still have a place in corporate finance and accounting.

Finance 52

Finance Accounting Auditing IFRS 52

PYMNTS

FEBRUARY 22, 2017

Nearly 80 percent of businesses surveyed in that report said they have taken some type of measure to make up for the cost of compliance, with Basel III cited as having the greatest negative impact for businesses. The banking sector is moving away from offering a simple, straightforward view via statements and transaction data, Cashfac noted.

Accounting 54

Accounting Banking Cash Management Compliance 54

Future CFO

AUGUST 1, 2023

The demand for mobile wallets, online banking services, and the increasing adoption of digital technologies has led to the expansion of the financial applications market in Asia/Pacific. Specific to the automation of finance and accounting processes, can you identify the top three areas mid-size enterprises are prioritizing to automate?

Invoicing 98

Invoicing General Ledger Reconciliations Budgeting 98

CFO News Room

DECEMBER 16, 2022

The CFO role is multi-faceted and includes everything from financial planning and analysis to business budgeting, financial decision-making, and risk management. They may work in various industries, such as investment firms, accounting firms, banks, or the government. Chief Compliance Officer. Senior Accountants.

Finance 130

Finance Budgeting Compliance Financial Analyst 130

PYMNTS

JANUARY 30, 2019

Compliance and risk management technology provider Opus is launching a new Know Your Customer (KYC) workflow solution for banks. 29) said Opus is rolling out its Clarity KYC solution to automate KYC workflows and enhance risk analysis. A press release on Tuesday (Jan. ” .

Banking 46

Banking Compliance Risk Analysis Risk Management 46

PYMNTS

FEBRUARY 12, 2019

The case highlights the risks and challenges companies face in not only vetting their suppliers, but vetting their suppliers’ suppliers, with third-party vendors a potential source of non-compliance for importers. took a series of steps to enhance its third-party risk management processes., Know Your Supplier.

Compliance 43

Compliance Auditing Risk Management Treasury 43

PYMNTS

SEPTEMBER 15, 2020

Rising eCommerce volumes and an embrace of the direct-to-consumer (D2C) sales model has led merchants to shift their own payment strategies — and seek out banking providers that can address those changing needs. Merchants didn’t realize how important it was to have a backup. A Single Digital EU Market.

B2B 119

B2B Risk Management Compliance Prioritization 119

Future CFO

MAY 1, 2024

As they assist in compliance audits and the monitoring of internal controls to ensure that everyone within the company does their job correctly, they are also expected to thrive and flourish amid the challenges along the way for the benefit of the organisation.

Leadership 98

Leadership IFRS Finance Communication 98

PYMNTS

JULY 2, 2018

Bank of America is being sued for $120 million after failing to flag large deposits into small accounts, which were cleared a few days later. Bank was fined $600 million for failing to flag and report suspicious activity according to anti-money laundering (AML) requirements. Previously, U.S. Why RegTech?

Compliance 43

Compliance Banking Investments Risk Management 43

VCFO

AUGUST 16, 2023

With structuring, the large sums are divided into individual deposits of less than $10,000 made by different people at different institutions and different accounts to evade reporting requirements. In 2020, banks worldwide were fined $10.4B for violations in AML practices. The example above and others like it are eye opening.

Compliance 86

Compliance Banking Risk Management Currencies 86

PYMNTS

SEPTEMBER 29, 2017

Banks are finding it more difficult than ever to ignore potential FinTech partnerships that could better serve their corporate customers. When it comes to corporate treasury, business clients demand robust solutions and services from their banks, and FinTech players are stepping in to help. Managing Risk.

Treasury 56

Treasury Banking Compliance Risk Management 56

PYMNTS

SEPTEMBER 27, 2019

The card networks and nationally licensed banks working across state lines would violate the RICO anti-money laundering laws if they attempted to move the payment. It is also the only tool that they can use for paying their staff, contractors, bills and taxes because they can’t get banking service. The Proponent’s Pitch .

Banking 60

Banking Compliance Risk Management Sales 60

PYMNTS

DECEMBER 29, 2020

With it, financial institutions need to strengthen their compliance to mitigate the risk of running afoul of the law. So it’s important for industry to support them aligned with the obligations they face under the Bank Secrecy Act,” he said. Complex Compliance. In fact, a recent GeoGuard survey found that U.S.

Compliance 108

Compliance Prioritization Securities Banking 108

PYMNTS

NOVEMBER 3, 2020

The release stated firms have more often been looking for data to validate their own internal counterparty and credit risk assessment. Firms can bolster risk management, loan and debt underwriting, portfolio optimization, supply chain risk management and investment idea generation, the release stated.

Credit Risk 88

Credit Risk B2B Accounts Payable B2C 88

Planful

OCTOBER 25, 2016

Another panelist highlighted their investment in inventory, as well as managing growth in the business. How do you balance the core responsibilities of Finance with risk management? Making timely, relevant, and accurate data available across the business is critical to effective decision-making and risk management.

Risk Management 40

Risk Management CFO Budgeting Benchmarking 40

PYMNTS

JULY 19, 2018

It’s no secret that banks and FinTechs are collaborating at a rate faster than ever before. The need is there for a comprehensive approach for risk management, which in turn means that both FinTechs and FIs need a strong, consistent strategy and roadmap from the very start of collaborations. An Evolving Value Proposition.

Banking 42

Banking Risk Management Auditing Compliance 42

CFO Leadership

DECEMBER 12, 2022

This includes traditional offerings such as retirement savings (401K) and health savings accounts (HRA, HSA). According to the Bank of America Workplace Benefits Report , 95% of employers feel a sense of responsibility for the financial wellness of their employees. About Bank of America. Maintenance and Expansion.

Accounts Payable 95

Accounts Payable Leadership CFO Strategic Planning 95

Strategic Treasurer

APRIL 3, 2023

In this survey, treasury and finance professionals were asked questions on the following topics: Fraud Experience: Frequency of Attacks, Source of Attacks, and Method(s) of Attack Security Practices Employed (Both Human & Technological) Cyber Risk Management and Data Protection Policies Investments in Security & Fraud Prevention Technology (..)

Treasury 52

Treasury Reconciliations Education Risk Management 52

CFO Talks

MARCH 20, 2024

Think of a Controller as the head of getting day-to-day money matters right, like making sure every penny is accounted for and reports are spot-on. Accounting Responsibilities: Both the CFO and Controller collaborate on overseeing the annual audit, ensuring thoroughness and compliance.

CFO 52

CFO Accounts Payable Financial Analysis Auditing 52

VCFO

APRIL 21, 2022

Gary is a finance professional with more than 45 years of expertise in business development, global accounting, and process improvement across multiple industries. He previously managed finance teams ranging in size of two to 250. Gary is also a Certified Public Accountant. About vcfo.

CFO 52

CFO Strategic Planning Auditing Leadership 52

Strategic Treasurer

MARCH 21, 2022

Data related to bank account management and reconciliation practices is also gathered for a more comprehensive view of how various treasury operations impact security. Cyber Risk Management and Data Protection Policies. Bank Account Management, Reconciliation & Compliance Practices.

Treasury 52

Treasury Reconciliations Education Risk Management 52

Spreadym

JULY 21, 2023

This enables better risk assessment, personalized marketing, and improved decision-making for investment strategies Cloud Computing : Moving financial operations and data storage to the cloud, allowing for scalability, cost-effectiveness, and enhanced collaboration.

Finance 52

Finance Prioritization Compliance Leverage 52

CFO Leadership

MARCH 31, 2022

New currencies, global banking structures, regional regulations, disparate processes, and disconnected systems all add complexities to the treasury operations. Treasury professionals may now have to keep an overview on hundreds of bank accounts with different bank partners, in multiple currencies and in many countries around the world.

Treasury 52

Treasury Cash Management Currencies Reconciliations 52

PYMNTS

JULY 27, 2020

Banking veteran Richard Davies is leaving his role as CEO of banking at digital-banking shop Revolut , one year after coming aboard to bring his seasoned skills to the startup, the Financial Times reported. Davies is leaving Revolut to take over the Allica Bank, which specializes in lending to businesses, according to the FT.

Valuation 56

Valuation Leadership Risk Management Compliance 56

PYMNTS

MAY 27, 2020

Mastercard is planning to expand the service into new markets with new partners and into other account-to-account payment rails, the company said. Payroll and human capital management solution provider Paycor recently revealed that it secured NACHA Certification through its ACH processing. Adflex Eyes Card Rails For B2B.

Reconciliations 92

Reconciliations B2B Compliance Risk Management 92

Bramasol

JUNE 16, 2023

Several times in the past, this blog series has focused on various big picture issues regarding environmental, social and governance (ESG) programs, compliance and carbon accounting solutions. According to a global survey by Nielsen, 73% of consumers say they would switch brands if a company supports a good cause.

Education 77

Education Compliance Risk Management Communication 77

PYMNTS

NOVEMBER 17, 2017

Think of banking and you might think of lending and deposits, where firms make money on the spread between what they pay savers and what they take in from borrowers. But banks cannot live on interest alone. Additional financial products and services must round out traditional banking activities.

Banking 46

Banking Risk Management Compliance Accounting 46

Spreadym

APRIL 27, 2023

Risk management: These tools help users identify and manage financial risks, such as market fluctuations, interest rate changes, and currency exchange rates. Read here how API can help manage planning and budgeting process in your business. APIs allow data to be shared between systems and automate tasks.

Financial Analysis 52

Financial Analysis Tax Planning Budgeting Forecasting 52

PYMNTS

JUNE 22, 2020

Consider the fact that, as estimated by Javelin Strategy and Research, the combined estimated losses of new account fraud and account takeover in the U.S. Account fraud can take 15 hours for cardholders to resolve — hardly the most productive use of anyone’s time. alone topped $10.2 billion last year. Barrett explained.

Risk Management 77

Risk Management Leverage Accounting Compliance 77

PYMNTS

NOVEMBER 10, 2020

"Partnering with Plaid, Mazooma will maximize conversion for our merchant clients by making it even faster and easier for players to fund their accounts," Mazooma Chief Operating Officer Dave Roe said in the announcement. Plaid's optimized user interface and U.S. About 75 percent of U.S.

Risk Management 55

Risk Management Compliance Accounting Banking 55

Future CFO

FEBRUARY 13, 2023

ICTSI) as senior vice president, chief financial officer and compliance officer says the company’s digitisation agenda was fast-tracked considering state lockdowns during the pandemic. “We He also suggested using digital signature platforms to make transactional work more efficient and sustainable for signing bank documents.

Treasury 98

Treasury Cash Management Restructuring Accounts Payable 98

Strategic Treasurer

FEBRUARY 9, 2022

Cyber risk management and data protection policies. Bank account management & compliance practices. Strategic Treasurer is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors.

Treasury 52

Treasury Securities Education Risk Management 52