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 CFO Financial Systems 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

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

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 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

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

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

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

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

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

MARCH 18, 2020

The coronavirus is spurring trade groups to ask for aid and governments to provide assistance for banks. The HDE requested that the government defer tax payments right away, along with the exclusion of interest, in addition to social security contributions due this month and next. Swiss banks received $2.6

Banking 52

Banking Currencies Financial Systems eCommerce 52

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

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

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 Finance Financial Systems Leverage 40

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

PYMNTS

JULY 5, 2019

The Bank of Japan ( BOJ ), Japan’s central bank, has joined in with other regulators and officials around the world in its worry over Facebook’s proposed cryptocurrency Libra , according to reports. . Some lawmakers wrote a letter to Facebook expressing concern about past issues with data and privacy.

Financial Systems 40

Financial Systems Currencies Compliance Banking 40

PYMNTS

FEBRUARY 3, 2019

SWIFT global payments network has agreed to help Bangladesh Bank rebuild its infrastructure after hackers stole $81 million in 2016. The funds were stolen when cybercriminals hacked into Bangladesh’s systems and sent fake orders via SWIFT to the NY Fed. For its part, RCBC says the lawsuit is beyond the U.S.

Banking 45

Banking Financial Systems Accounting Planning 45

PYMNTS

FEBRUARY 20, 2020

The parent company of Fidelity Investments , FMR LLC, is launching an independent personal data startup called Akoya in conjunction with The Clearing House (TCH) and 11 of its member banks, Fidelity announced on Thursday (Feb. The new network boosts financial system security as it speeds up API adoption.

Startups 56

Startups Financial Data Securities Financial Systems 56

PYMNTS

JUNE 8, 2016

regulators issued a stern warning to banks to be on the lookout for cyberthreats in the aftermath of the Bangladesh cyberheist , where $81 million was taken without a trace from the central bank’s account at the NY Fed. Federal Reserve System and CEO of Trail of Bits, told Reuters. On Tuesday (June 7), U.S.

Banking 41

Banking Financial Systems Securities Accounting 41

PYMNTS

JULY 26, 2017

Treasury’s Office of the Comptroller of the Currency (OCC) has again released its report on top risks facing banks, with its Spring 2017 analysis warning FIs that threats are coming from all angles. The federal banking system is, and should be, a source of strength for the nation and its economy.

Banking 46

Banking Compliance Currencies Concentration 46

PYMNTS

JANUARY 13, 2021

During his career at Citi, Khaliq has served in management positions in banking, markets and securities services, country management (CCO) and treasury services. Before taking that role, Khaliq had served as global head of Direct Custody & Clearing inside of Markets and Securities Services since 2017.

Treasury 52

Treasury Education Cash Management Economics 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. Financial institutions that fail to do so, whether knowingly or unknowingly, face hefty penalties.

Compliance 87

Compliance Banking Risk Management Currencies 87

CFO News Room

JANUARY 18, 2023

financial system, has been used mainly in the past against banks and other financial institutions and in most cases has forced the institution to close. This type of action, a rarely used so-called death-knell sanction that cuts off the entity from the U.S. Lisa Monaco. said Wednesday. Deputy Treasury Secretary.

Treasury 100

Treasury Compliance Financial Systems Finance 100

PYMNTS

JUNE 30, 2020

The Bank for International Settlements ( BIS ) Innovation Hub is planning on adding four new locations in Europe and North America, according to a press release. The Innovation Hub was launched in 2019 as a way for central banks to collaborate on various innovative solutions to problems, PYMNTS reported.

Currencies 59

Currencies Communication Financial Systems Banking 59

PYMNTS

JUNE 9, 2019

International Monetary Fund Managing Director Christine Lagarde issued a warning over the weekend about the impact artificial intelligence may have on the financial system across the globe.

Financial Systems 76

Financial Systems Finance Technology Securities 76

Future CFO

AUGUST 6, 2023

Ongoing aggressive interest rate hikes by central banks, and China’s weaker than expected economic recovery, have likely left an impact on the sharp rebound in global confidence, offsetting any benefit from receding fears of a global banking crisis and falling inflation, ACCA noted.

Economics 52

Economics Financial Systems Banking Accounting 52

PYMNTS

DECEMBER 10, 2019

“We use the information that you provide to protect our national security, our financial system, our communities, and our families. Blanco also addressed the Bank Secrecy Act (BSA) and the importance of beneficial ownership information. There are approximately 30,000 searches of the BSA data each day.”.

Securities 52

Securities Financial Systems Banking 52

PYMNTS

JULY 20, 2017

As we reported just a few months back, this technology is set to disrupt the financial industry because it enables secure cross-border money transfers. As such, it should come as no surprise that banks from around the world are dipping their toes into blockchain technology in various projects. From the U.K. receiving £3.6

Banking 42

Banking Technology B2B Financial Systems 42

PYMNTS

NOVEMBER 17, 2020

Mastercard plans to take Juvo’s platform to financial institutions (FIs) across Latin America and the Caribbean. The companies said the service could potentially help open up banking services to millions of customers. The company said it has built over 270 million financial profiles and helped facilitate over one billion transactions.

Startups 60

Startups Financial Systems Banking Securities 60