Compliance

Commerzbank announces plans to automate selected compliance relevant pre-checks in trade finance transaction processing by 2020

The Bank has partnered with fintech Conpend to automate selected compliance relevant pre- checks processes for trade finance transactions ●  The solution will reduce transaction processing times while improving risk controls and interaction with clients ●  Enno-Burghard Weitzel: “We are leading the change towards a new era for trade financeprocessing. Our aim is to focus the expertise of our trade finance specialists to the crucial and complex... more Read more »

Land Bank of Taiwan’s Singapore Branch Selects Wolters Kluwer’s OneSumX for Regulatory Reporting

Land Bank of Taiwan’s Singapore Branch has chosen Wolters Kluwer’s OneSumX for Regulatory Reporting to provide its regulatory reporting software, allowing the bank to comply with the upcoming Monetary Authority of Singapore (MAS) Notice 610 requirements. Read more »

African businesses can now benefit from 100% compliance with new offering from BDO Morocco and OXIAL

African businesses can now benefit from the very latest digital compliance and risk management solution, thanks to a new offering from BDO Morocco and new generation GRC solution provider OXIAL. Read more »

Santander goes live with SWIFT gpi

The leading retail and commercial bank, Santander, has gone live on SWIFT’s global payments innovation (gpi) service in Spain, the UK, Argentina and Poland. It will go live in Chile and Mexico before the end of the year, with further countries planned for 2019. With SWIFT gpi, Santander can now offer a rapid cross-border payments service – with real-time payments tracking and transparency on bank fees and foreign exchange rates. Read more »

International mobile compliance now available with Re:Call from TeleWare

Communications technology business, TeleWare, has extended the capabilities of its newest compliant call recording app, Re:Call, by providing compliance support for firms with an international presence. Read more »

Singapore Softens rules for robots advisers

The Monetary Authority of Singapore (MAS) today issued the Guidelines on Provision of Digital Advisory Services, to facilitate the provision of these services in Singapore. The guidelines incorporate feedback from the public consultation as well as learning points from MAS’ engagements with the industry.  Read more »

THE IRTA LAUNCHES NEW ‘IRTA PRINCIPLES FOR REGTECH FIRMS’ IN SUPPORT OF ITS KEY INITIATIVES FOR 2018-19

The International RegTech Association (IRTA) has unveiled the first iteration of its ‘IRTA Principles for RegTech Firms’, a new set of open standards spearheaded by the IRTA Innovation Working Group, with the aim of facilitating innovation and protecting innovators as they work on developing high-quality RegTech solutions. Read more »

Leading Belarus bank taps FICO technology to fight financial crime

Belgazprombank, a leading lender in Belarus, has implemented a system from FICO that screens financial transactions and customers in order to prevent financial crime. FICO® TONBELLER® Siron® Embargo checks banking applicants and individual transactions to ensure that the bank and its customers do not do business with individuals on restricted lists, such as those who are involved in terrorist activities, and manages the risk of working with... more Read more »

Thomson Reuters and Moody’s Analytics partner on IFRS9 SPPI Solution for Fixed-Income Investors

 Thomson Reuters has partnered with Moody’s Analytics, a leading provider of financial intelligence and analytics, to offer a classification solution for conducting the Solely for Payment of Principal and Interest (SPPI) tests required under the IFRS9 accounting standard. Read more »

SIA launches PSD2-compliant Open Banking platform for new digital payment services

SIA launches a new “Open Banking” digital platform allowing Italian and European banks, fintechs, corporates, SMEs and public sector organizations to promote and accelerate the creation of innovative payment services, deriving from the introduction of Payment Services Directive 2 (PSD2), to seize new business opportunities in addition to guaranteeing compliance with the regulation. Read more »

Global Financial Institutions Fined $26 Billion for AML, Sanctions & KYC Non-Compliance Since 2008 Financial Crisis

Fenergo, the leading provider of Client Lifecycle Management solutions for financial institutions, has released data detailing the global fines activity of regional and in-country regulators over the past 10 years. A staggering $26 billion in fines has been imposed for non-compliance with Anti-Money Laundering (AML), Know Your Customer (KYC) and sanctions regulations in the last decade. Read more »

NICE Actimize Transforms Indonesia’s Bank Central Asia Anti-Money Laundering Compliance Operations

NICE Actimize, a NICE (Nasdaq: NICE) business and the leader in Autonomous Financial Crime Management, has been chosen by Indonesia’s PT Bank Central Asia Tbk (BCA) to transform its anti-money laundering compliance and case management operations. Read more »

Wolters Kluwer Triumphs in Central Banking FinTech and RegTech Awards with Major Regulatory Compliance Accolade

Wolters Kluwer’s Finance, Risk & Reporting business has won a major award from Central Banking magazine. Its OneSumX for Regulatory Reporting solution has been named Best Technology Solution For Regulatory Compliance, in the publication’s annual FinTech and RegTech Awards which celebrate excellence and innovation. Read more »

Banks turn to technology innovation, as global regulation continues to increase KYC complexity for 75 percent of compliance and correspondent banking professionals

The annual Accuity Financial Counterparty KYC Survey has revealed that 75 percent of senior compliance and correspondent banking professionals have encountered added complexity in interpreting and adhering to local legislation. Read more »

NICE Actimize Chosen by Thailand’s Bank of Ayudhya to Manage Anti-Money Laundering Compliance with Intelligent Automation

NICE Actimize, a NICE (Nasdaq: NICE) business and the leader in Autonomous Financial Crime Management, has been chosen by Bank of Ayudhya/Krungsri, Thailand’s fifth largest financial institution, to transform its anti-money laundering compliance and case management platform. Read more »

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