Tag: Compliance

Regulators have indicated that financial firms should be able to monitor and flag potentially problematic emojis in workers’ business communications.  Wall Street was hammered with fines by US regulators over the past year over employee use of unmonitored chat apps like WhatsApp, prompting many to extend their communication surveillance software to new platforms. In the wake […]

As payments and fraud prevention become more complex, artificial intelligence will play a key role in creating a frictionless, safe experience for consumers. As financial products and services are increasingly embedded and delivered through new platforms, there’s more opportunity than ever for bad actors to exploit the system and commit fraud. But as the conversations […]

Trade finance often still involves paper documents moving between banks, shippers, and exporters, and JPMorgan just gave a vote of confidence to Cleareye.ai to disrupt that archaic process.   JPMorgan’s Trade and Working Capital group has made a strategic investment in Cleareye.ai, a startup that it started working with last year to digitize and automate trade […]

AI is helping banks supercharge their ability to detect financial crime, adding context to sanctions lists, cutting down on false flags, and speeding up investigations. Artificial intelligence is bringing more context to compliance, according to Ryan Schmiedl, chief data officer and head of trust and safety for JPMorgan’s payments division.   “With the innovation going on […]

The rapid influx of regulatory documents and enforcement actions has swamped compliance teams; regtech software like ING’s can restore efficiency.  ING just spun out and sold its regulatory change-monitoring tool, SparQ, to risk intelligence firm Corlytics.   SparQ’s software helps identify new regulations or threats, construct robust controls around monitoring and oversight, and ensure appropriate policies […]

Recent news highlights why financial institutions need to revamp their compliance culture to be real-time and continuous – or face the consequences.   Fraud protection is already hijacking headlines in 2023:  Both PNC and JPMorgan are facing lawsuits that blame them for their customers’ fraud losses through insider threats or phished credentials, while Coinbase agreed to […]

As traditional financial firms continue to explore the use of blockchain and digital assets, compliance tools to help manage regulatory and reputational risk are in high demand.   Blockchain intelligence firm TRM Labs is winning support from legacy financial firms for its ability to help launch blockchain and digital asset initiatives by analyzing and investigating crypto-related […]

Confidential computing – which protects data while it’s actively being processed, not just when it’s stored or transferred – is making inroads with big banks for use in marketing, fraud detection, and cybersecurity.  Confidential computing is starting to be adopted at major banks, thanks to efforts from cloud providers like Microsoft, Google, and IBM.  This […]

As US regulators hammer a dozen banks including JPMorgan, Goldman Sachs, and Bank of America with a combined $2 billion in fines for failing to properly monitor all employee messaging, comprehensive communications-surveillance tools are in high demand. The SEC slapped banks with steep fines after it discovered that their workers were using unmonitored chat apps, including […]

As financial regulators increase their scrutiny (and fines), regtech tools can help firms keep themselves compliant at a lower cost. As US regulators hammer the likes of JPMorgan, Citigroup, and Bank of America with a combined $1 billion in fines for failing to properly monitor all employee messaging, comprehensive communications-surveillance tools are in high demand. […]