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So far Sarah Hamilton has created 239 entries.

FinTech Compliance: Biggest Compliance Issues and Steps to Follow AML Regulations

Consumers today seek accessible and easy-to-use solutions for their daily transactions and look for solutions that can make their life comfortable. We have seen and adopted FinTech solutions as an alternative to traditional banking, insurance, and financial investments. As of 2019-2022, the FinTech market has been valued at over $187B with interest and investment opportunities; the industry is rising. With such expansion comes regulatory needs, which can become a daunting task since new rules pop up every year. About FinTech Compliance FinTech compliance refers to the obligations […]

Why Does Combination of Qualitative and Quantitative Risk Assessment Works Best?

When we consider risk assessment for the financial sector, there are more than one-sided views, and it often requires perspectives on both qualitative and qualitative analysis. The combined approach holds importance in today’s unsettled world, where the need for a risk-based approach to decision-making has gained prominence. Businesses have started to take this approach into notice, particularly in the wake of multiple events like Covid-19, geopolitical unrest, digitization, and more. Organizations have adopted a broader view to improving their enterprise risk management programs. Performing a […]

Automated Compliance Management – Key Reasons and Its Advantages for the Financial Sector

Automated compliance management means utilizing Artificial Intelligence (A.I.) powered systems to eliminate manual administration from compliance activities. When banks, credit unions, FinTechs, insurance companies, mortgage companies, or other financial institutions grow, they must meet increasing compliance requirements. Automated systems provide these firms the necessary support to ensure their operations remain compliant with rules and regulations. Unfortunately, many of the compliance teams within the financial sector spend too much time on manual and repetitive administration, making compliance overly difficult. For instance, many organizations use emails and calendar […]

Increase Revenue by Offering Banking-as-a-Service to FinTechs While Ensuring Regulatory Compliance and Minimizing Risks

Innovative banks of all sizes are partnering with fast-growing FinTechs to increase revenue in today’s competitive, low-margin business environment. A recent Cornerstone Advisors survey revealed, “Nearly two-thirds of banks and credit unions entered into at least one fintech partnership over the past three years, and 35% made an investment in a fintech. Those that have not partnered or invested, 37% plan to partner in 2022 and 18% expect to invest in a fintech in 2022.” Bank-Fintech Partnerships Enable Growth Opportunities Especially for community and regional banks, Banking-as-a-Service (BaaS) […]

Essential Regulations for Mortgage Compliance Management

Mortgage compliance is critical to success for a mortgage professional, regulator, broker, lender, or regulatory attorney. Furthermore, laws change, and businesses must be ready to adjust quickly. To successfully manage regulatory compliance, firms should know how regulatory requirements affect business operations and adhere to industry best practices. On the other hand, mortgage firms must follow various state and federal regulations. It may appear challenging at times to keep everything under control. However, you should know that you are not alone in mortgage compliance management. We have compiled a […]

Automated Regulatory Compliance Management Trends for Banking and Fintech Services

When a new Fintech or any other entrant in the financial sector or existing companies plans to expand, one of the essential points to consider is dealing with regulatory compliance. The adherence to these management rules acts as either a business facilitator or a considerable hurdle. Since 2019, the impact of the pandemic has impacted the way the financial sector operates and increased the need for automated solutions and innovations. Where the banks and Fintech companies have used their automated applications, their use will enhance in 2022 […]

Importance of Regulatory Compliance as a Part of Today’s Business

Compliance standards differ by industry and nation. However, regulatory compliance is fundamental for every industry and enterprise in several countries with a vibrant commercial and economic landscape. On the other hand, regulatory compliance is exceptionally critical in businesses with strict compliance scrutiny, such as healthcare and finance, and areas where customer privacy, data protection, and cybersecurity are crucial to company sustainability and legally compliant processes. Moreover, non-compliance puts businesses at risk of data theft, disciplinary proceedings, and data breaches, resulting in lost customers, license invalidation, damaged reputations, […]

How to Resolve Risk and Compliance Challenges with Predict360 + Tableau

As a result of the tumultuous global events such as COVID-19 that occurred from 2019 to 2022, several new risks and compliance management difficulties have surfaced. However, there are substantial structural challenges with risk and compliance that several firms are dealing with and concerns that require long-term solutions. It is not surprising that risk and compliance technology focuses on fixing current financial sector difficulties and the systematic treatment of vulnerabilities. These concerns include rising risk and compliance management expenses, frequently changing regulatory frameworks, reactive methods, and operational […]

Top 5 Biggest Risks Faced by Fintech Firms

Fintechs provide ease, adaptability, and lightning-fast service in a market dominated by traditional systems and institutions. Market expectations have moved swiftly due to improved goods and speedier services, and a new standard for financial instrument experience has been established. However, working in a sector where accountability and security are crucial comes with some risks or many risks! In this post, we will discuss the five key risks confronting fintech operational teams today. But before that, let us shed a brief light on operational risk in fintech. […]

Best Practices and Aligning Compliance with Corporate Goals; an Interview with Global Risk Community

360factors CEO Carl McCauley was invited for an interview on the Risk Management Show podcast, hosted by Boris Agranovich. The 24-minute discussion touches upon banking and fintech partnership trends and compliance readiness. Presented are two short excerpts from the interview. Listen to the complete interview here Banks and FIs are focused on utilizing FinTech to get the best performance out of their organization but often do not have experience with FinTech since it is still a relatively nascent domain. The host asked Carl to provide […]