How is technology changing the remittance industry?

Guest blogpost by Hugo Cuevas-Mohr of IMTC Conferences and Mohr World Consulting.

In the process of building the RemTECH Awards and asking ourselves what innovation in the remittances industry meant, I searched the internet and talked to colleagues, both in the traditional financial services sector, bank and non-bank, as well as in fintech start-ups.

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Topics: Virtual Currency, FinTech, Money Transfer, MSB

Are you a FinTech Start-Up? Know Which AML Regulations Apply to You

 

U.S. anti-money laundering regulations are extensive, filled with explicit and implicit requests, and require studying. However, the benefit of knowing them is fundamental: It will save you time, money, and maybe your business. 

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Topics: Anti-Money Laundering, Fraud Prevention, Transaction Monitoring, FinTech, RegTech, Sanctions Screening

IdentityMind’s New Platform Version makes RegTech and Machine Learning Accessible to All

For the past year, it’s been nearly impossible to read a fraud prevention or compliance article without “RegTech” and/or “Machine Learning” in it. In this article, we are going to talk about both; specifically, how the new version of IdentityMind’s platform helps deliver on the RegTech and machine learning promise.

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Topics: Fraud Prevention, FinTech, RegTech, eDNA, Risk Management, Machine Learning

The Rise and Potential Impact of Digital Identities

Guest blogpost by Travis Jarae, from One World Identity.

The first form of identity or individual consensus records dates back nearly 4000 B.C., with the Babylonians. We think they primarily used this for determining how much food they would need per person. Not much has changed since the Babylonians - we still use a census to determine macroeconomic decisions such as domestic social welfare needs and foreign aid.

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Topics: FinTech, Trusted Digital Identities (TDI™)

Workforce Diversity – A Key to Succeed in FinTech

FinTech is all about solving financial services problems in new ways. Some of these problems may be about providing access to financial services to groups in which banks have previously shown little interest. Or maybe it is about taking a typically clunky loan process and simplifying it to the point where customers can be instantly approved while sitting in their favorite chair at home. Or maybe it is about moving financial services to a more convenient place like an app on a mobile phone.

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Topics: FinTech, Team

Top 7 Money 2020 Sessions – Because 5 are too few and 10 are too many!

Money 2020 in Las Vegas brings you 10,000 participants from over 75 countries, 500 speakers, and 3000+ companies.  By bringing in disruptors and innovators across financial services, payments, and e-commerce, Money 2020 promises to deliver some of the most productive days on the industry calendar.

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Topics: FinTech, RegTech

Sanctions Screening - Reduce False Positives

Sanctions Screening review of a flagged individual or company isn't hard, but it does take time, on average more than 19 minutes per flag. That’s not a lot of time, but when Financial Institutions (FIs) have thousands of flagged applications to review every day, it becomes a fulltime job for a team of people. The operational burden of clearing a large number of flagged applications impacts your profit margins by potentially reducing the number of customers accepted, and by increasing the cost of compliance operations, including regulatory fines.

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Topics: FinTech, Sanctions Screening

"Show me your friends, and I'll tell you who you are" - A renewed concept for your identity online

A Millennial Answer to the “Know Your Customer” question... Or a brief introduction to the future of trust

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Topics: FinTech

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