Here are the latest trends and insights along with emerging technologies that are shaping the Finance Industry through the eyes of Fineksus team.

Here are the latest trends and insights along with emerging technologies that are shaping the Finance Industry through the eyes of Fineksus team.

Get Ready for ISO 20022 by March 2023

Get Ready for ISO 20022 by March 2023 What is ISO 20022? ISO 20022 is a financial messaging standard that offers more structured, richer and accurate data in comparison to its predecessor ISO 15022 and aims to increase the levels of transparency, flexibility and automation in financial transactions and processes. ISO 20022 [...]

By |March 12th, 2023|Categories: Blog|Tags: |

Screening for Sanctions and Embargoes

Screening for Sanctions and Embargoes Financial institutions are more exposed to the danger of sanctions, and operational and supervisory issues, and need to abide by regulations from numerous jurisdictions and organizations as a result of globalization. Therefore, compliance methods must be improved to avoid fines and damage to one's reputation. What is an [...]

By |February 22nd, 2023|Categories: Knowledge Base|Tags: |

Essentials of AML Onboarding

Essentials of AML Onboarding 92% of businesses believed that the existing Know Your Customer (KYC) onboarding procedures cost about $28.5m, according to a Thomson Reuters study. On the other hand, according to UN estimates, the cost of international money laundering yearly ranges from $800 billion to $2 trillion, or 2-5% of world GDP. [...]

By |February 15th, 2023|Categories: Knowledge Base|Tags: |

Difference between Fintech and Regtech

Difference between Fintech and Regtech Fintech and Regtech are two new technologies that are revolutionizing the financial sector and triggering established banking structures. While all two of these financial services solutions are closely tied to one another and work well together, they are not the same thing. What Is FinTech? Fintech, or financial [...]

By |February 8th, 2023|Categories: Knowledge Base|Tags: |

International Sanctions

International Sanctions International sanctions are political, diplomatic, and economic actions taken by nations, international organizations, or a coalition of nations to impose restrictions on a targeted state's or person's trade, financial transactions, and other economic activities, usually to influence the target's behavior. Restrictions on trade, money transfers, travel, and other activities are only [...]

By |February 1st, 2023|Categories: Knowledge Base|Tags: |

Neobanks vs. Traditional Banks

Neobanks vs. Traditional Banks: Definition, Differences and Impressions As the advancements in the internet era altered the way people experience the world evolving around the concepts like pace, online and free, it was inevitable for the “neo” (new) trend in the banking industry to emerge to catch up with the new demands [...]

By |January 31st, 2023|Categories: Blog|Tags: |

Transaction Laundering

Transaction Laundering Criminals are finding new ways to exploit online payment infrastructures and conceal their illegal funds as banking services connect with eCommerce technologies. Transaction laundering is a new trend among internet criminals that reflects a digital version of traditional money laundering that has been largely ignored by regulators and financial service providers. [...]

By |January 27th, 2023|Categories: Knowledge Base|Tags: |

Swift Go

Swift Go SWIFT Go is a watershed moment in the world of cross-border payments. The banking industry continues to face intense pressure to improve cross-border payments. To compete with Fintechs and other non-bank competitors, they must focus on facilitating rapid and frictionless transactions with complete transparency and good security. SWIFT released a new [...]

By |January 16th, 2023|Categories: Knowledge Base|Tags: |

Ongoing Monitoring

Ongoing Monitoring Ongoing monitoring entails taking steps to ensure that the firm's knowledge of its business ties is up to date, as well as reviewing transactions to ensure that they are compatible with the expected conduct and purpose of the business partnership. Many businesses are looking to automate this process to screen all [...]

By |January 9th, 2023|Categories: Knowledge Base|Tags: |

Mexican Cartel

Mexican Cartel Money laundering is a form of destructive conduct that criminals all around the world engage in. It is the process of transforming illegal revenues into "clean" money that cannot be traced back to its source. Money laundering, in addition to being a financial crime, is linked to other sorts of crime [...]

By |January 2nd, 2023|Categories: Knowledge Base|Tags: |
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