Regtech

Fintechs are developing data-crunching, automated products that seek to help banks precisely calibrate capital levels. The banks' goal is to pass stress tests while maximizing returns to investors.

Technology-driven systems aren’t enough to root out anti-money-laundering violations. Congress should consider creating a program that would encourage those with knowledge of illegal behavior to come forward.

The strategies to foster innovation are changing to emphasize cost-effective effort and granting fintechs more control over development.

Technology-driven systems aren’t enough to root out anti-money-laundering violations. Congress should consider creating a program that would encourage those with knowledge of illegal behavior to come forward.

The coming year will bring a wave of data-sharing deals between banks and fintechs, increased bank use of automated advice, marked changes to financial jobs as a result of automation, and much more.

Traditional compliance data handling tools and procedures are mostly not efficient enough to handle the mounting data in the right way, which makes the analysis extremely difficult, writes Srinivasan Pandurangan is senior manager of business consulting at Virtusa.

The New Jersey bank is offering fintechs ways to stay compliant with consumer protection regulations.

Bank and credit union regulators issued a statement giving institutions the go-ahead to try artificial intelligence and other emerging tech to detect money laundering. It's just what some institutions have been waiting for.

The Omidyar Network has invested in five challenger banks. Tilman Ehrbeck, who is leading its financial inclusion efforts, says the firm will invest more in apps for gig workers and retirees next year.

Promontory Financial Group CEO Eugene Ludwig says AI tools can remove the risks — and discrimination — involved in opening the U.S. financial system to newcomers.

Instead of focusing on testing grounds for fintech startups, regulators should develop initiatives to improve their own oversight and compliance technologies.

Jelena McWilliams has signaled a thaw in the agency’s approach to industrial loan companies, but she said tech firms and other nonbanks seeking charters should face the same level of regulatory scrutiny as more traditional banks.

The bank, one of the few that do business with digital currency exchanges like Coinbase, has developed methods for monitoring all customers’ digital currency purchases.

Crowdsourced cybersecurity is making inroads into the world of big banks, even though there is a risk bad actors will exploit the opportunity.

Banks should work to shield some customers who may otherwise be flagged or blocked by AI-powered safeguards, and consider using alternative data to expand services to the underbanked.

Regtech — the intersection of regulatory compliance and financial innovation — is still taking shape in the U.S with some pushing for "tech sprints" to speed the development of new tools, while some see new threats and opportunities looming in the space. Following is a look at hot-button topics at American Banker's RegTech summit.

Banks need dedicated teams to shore up digital compliance efforts, officials at SourceMedia’s RegTech 2018 conference said.

As silos complicate know your customer compliance and onboarding, low-code technology can provide a boost, according to Reetu Khosla, global head of life-cycle management and KYC for Pegasystems.

The regtech firm Arachnys, which recently raised $10 million from QED Investors and others, draws from a collection of 23,000 data sources to help banks protect themselves from money launderers and other criminals.

Executives at Wells Fargo, BBVA Compass, ATB and Banco Popular share some of the pain points they've encountered as they've implemented artificial intelligence, and how they overcame them.