BankThink

Detecting business dealings with banned parties means screening a maze of transactions, and Treasury’s Office of Foreign Assets Control supports calls for the industry to take a risk-based approach. But regulators effectively require banks to track everything, which is unproductive.

When managed effectively, certification bodies can coordinate industry-wide solutions to otherwise significant challenges, easing pain points and ultimately driving innovation, says Fime's Reza Rahmani Fard.

Thasunda Brown Duckett is one of Wall Street’s most prominent Black executives; the central bank blamed Wednesday’s shutdown of its payments systems on a maintenance mistake.

With mobile payments and banking apps on the rise, biometric authentication is now increasingly common in consumer finance, says Fingerprints' Michel Roig.

Financial services firms, from traditional banks to fintech payment processors to data companies, need to beef up their compliance teams, raise standards and improve education to ensure teams are ready to tackle the latest types of financial fraud, says ACAMS' Rick McDonell.

The cause of the disruption is unknown, although the Treasury said it wasn’t a cyberattack; applications fell 11% after the average 30-year fixed-rate loan rose to 2.81%.

The shift from cash has boosted digital and called attention to the importance of standards, says EMVCo's Brian Byrne.

As self-service banking offerings continue to gain ground, financial firms must evolve their brick-and-mortar facilities in order to better serve consumers.

Lost in the debate about whether to make fintechs comply with the Community Reinvestment Act is that many of them already partner with banks to make loans in low-income neighborhoods.

APIs and the cloud can help financial institutions reach consumers who have become accustomed to digital, says Episode Six's John Mitchell.