Preventing Compliance Risks During Customer Onboarding Know your customer, otherwise known as Know Your Client (KYC), is the name of the methods conducted by a bank or financial company to verify the identity of their clients. This allows them to evaluate the risks (or if there are any risks) of implementing a business relationship [...]
SWIFT Corporate Forum 2019 was Held in Dubai Supporting corporates achieving their optimisation goals, SWIFT Corporate Forum was held in Dubai on 4 March this year. Many attendees took part in the payments ecosystem including treasurers, members of the corporate finance departments and various other actors were present in the event to share [...]
Cross-Border Payments, New Models and the Future As time progresses and new industries or business models emerge, the old methods are struggling to find their place in the new world. The primary propulsion behind these changes is technology. Another one is demanding customers, constantly pushing financial institutions to be faster and accurate. While [...]
AML Compliance Issues and Trends in 2019 Anti-money laundering (AML) has always been an issue for the finance sector. But as the political stances change, strategic partnerships emerge and break, it is becoming an increasingly complicated matter. In the past, AML departments in banks were comprised of one or two staff members or they [...]
Insider Threat and Cyber Security Issues in the Financial Industry Finance industry depends heavily on data. Well, nowadays almost all companies rely on data to some extent, but finance companies literally live on data. This is why protecting their data is crucial to not only their security but also their existence. This makes [...]
How Fintechs Can Deal With Regulatory Compliance Today we live in a global ecosystem where technological advances are imposing a brand new order. Changing customer demands, open source softwares, free-to-use services are all driving significant change in the way products and services are being created and delivered. As barriers of entry seem to be [...]
How Artificial Intelligence is Transforming AML and KYC Compliance It’s been a turbulent year for anti-money laundering (AML) compliance in big financial institutions. We were bombarded with media headlines in a seemingly never-ending wave of scandals: “Dutch bank ING fined $900 million for failing to spot money laundering” — Reuters “Australia's biggest bank [...]
How Fineksus Improves Financial Messaging Operations for SWIFT Users In recent times, SWIFT has become a popular option for global corporations seeking a single network to communicate with their banks around the world. SWIFT allows businesses to reduce costs and improve efficiency by eliminating independent connections to banks, which helps standardize and simplify [...]
Fineksus is Ready for SWIFT gpi What is SWIFT Global Payments Innovation (gpi) Swift gpi is a brand new standard in global payments – banks can now send funds quickly and securely to anyone anywhere in the world. Moreover, gpi offers full transparency over a payment is at any given moment. SWIFT gpi [...]
