RegTech

Regulatory technology, is a new technology that uses information technology to enhance regulatory processes. With its main application in the Financial sector, it is expanding into any regulated business with a particular appeal for the Consumer Goods Industry. Often regarded as a subcategory under FinTech, RegTech puts a particular emphasis on regulatory monitoring, reporting and compliance and is thus benefiting the finance industry.

Fatemeh Nikayin Co-Founder at Rivero

Card scheme compliance is becoming harder than ever – here’s why!

Maintaining compliance is crucial to any financial institution’s ability to provide services – yet this must be balanced with investing in innovative capabilities that allow for service improvement, market expansion, and customer service improvement. This balancing act is particularly challenging in this part of the world: according to Lexis Nexis...

07 September 2022 /payments /regulation

Frank Cummings CEO at AML Partners LLC

I Am Not a Boss or a Leader; I Am an Enabler

I Am Not a Boss or a Leader; I Am an Enabler I have been around the block far more times than I would like to count. I have been led, and I have led. And I have come to realize that neither will make you truly successful. Leading organizations large or small does not mean you are successful. It means you played the game well enough to be allowed to...

23 August 2022 /crime

Frank Cummings CEO at AML Partners LLC

Know Your World - Closing the circle of due diligence

Financial institutions globally have enhanced Customer Due Diligence/Know Your Customer procedures to the point of pure art. In some cases, institutions collect over 600 individual fields of information, and some use upwards of 14 data interfaces to support a mix of internal systems and external data providers. It’s getting to the point where we

19 August 2022 /crime

Katie Hunter Senior Marketing Manager at Aveni

How your FS business can reduce costs in a high inflation environment

Global inflation rates have been consistently on the rise over the past year. The high inflation is driven by high energy prices, issues in supply chains and an increase in consumer demand. While focus has been largely on the effect this is having on the general population, there are also ramifications on businesses, particularly those within the ...

10 August 2022 /regulation

Frank Cummings CEO at AML Partners LLC

Digital Transformation Time--Again?

'Digital Transformation' sellers—a.k.a. the “cookie-jar consultants”--are at it again It’s happening again: Claims of digital-transformations-solve-all-problems are everywhere. I don’t want to sound too boomer-ish, but we have been down this tech-solves-all road a couple times before. And many leaders will believe the hype: Transform your digit

29 July 2022 /regulation

Nickii Mallia Business Development Manager at Aqubix Ltd - KYC Portal

Importance of having a trustworthy KYC system - In-house vs Third Party Providers

You never get a second chance to make a great first impression and since onboarding a new client is your first main contact between your company and your new client, the experience should not be confusing or frustrating. The onboarding experience is often viewed as the foundation for what dealing with your company will be like, so having a trustwo...

21 July 2022 /regulation /retail

Frank Cummings CEO at AML Partners LLC

ESG--The People's Regulator?

Environmental and Social Governance may force different decision-making in ethical gray areas of revenue streams Unlike Governance, Risk and Compliance (GRC), Environmental and Social Governance (ESG) prioritizes informing the public on how corporations handle their environmental and social obligations. Regulatory reporting remains a feature o

20 July 2022 /regulation

Katie Hunter Senior Marketing Manager at Aveni

How the FCA's Consumer Duty of Care has made Speech Analytics Essential

Speech analytics has been commonly used for a number of years, evolving from a novelty add-on to a powerful solution for businesses to improve their processes. With the Financial Conduct Authority’s Consumer Duty of Care proposal, speech analytics has gone from being a nice-to-have to a necessity that firms must adopt to meet requirements or risk ...

20 July 2022 /regulation /startups

Frank Cummings CEO at AML Partners LLC

If you work at a Financial Institution you are going to Hate this Blog

We need to monitor more than just customers. I have in the past discussed what I call Behavioral Analytics. Behavioral Analytics leverage automated comparisons between data-based predicted behaviors and customers’ actual behaviors. When combined with Rule-Based Systems, Behavioral Analytics can prevent criminal schemes even before they begin. S

14 July 2022 /crime

Frank Cummings CEO at AML Partners LLC

Headline: Mass-shooting horrors demand better response—Metadata a way forward?

July 4 revelers in Highland Park, IL, experienced another mass-casualty shooting in America. Stunningly, at this point it’s no longer surprising to see these news alerts. Something has to change. I wrote here a couple weeks ago that RegTech behavior-monitoring technologies have the potential to warn of impending violence—like school shootings and ...

05 July 2022 /crime /predictions