AML fines often dominate headlines, with regulators across the globe issuing increasingly large penalties for failures in financial crime controls. But while these figures attract attention, they rarely tell the full story. In reality, AML failures have consequences beyond financial penalties. Firms often face operational disruption, heightened regulatory scrutiny, and lasting damage to reputation [...]
Safeguarding of client funds continues to be a high priority in the payments markets globally and the new RPAA rules require all Canadian Payment Service Provides to have a written Fund Safeguarding Framework describing their systems and controls; policies and procedures; monitoring and oversight; and other relevant documentation to ensure end user finds are [...]
Neopay Global’s Virtual Compliance Service (VCS) gives you the expert guidance you need to stay compliant, reduce risk, and grow with confidence — all for as little as $3,400/month over 12 months. Whether you're preparing for your first BSA/AML audit or looking for long-term compliance support, our team of experienced professionals delivers a smarter, [...]
FedNow Launch and Fintech Innovation Drive Americans Towards Digital Transactions In a recent survey titled "Cashing in on the rise of digital – key trends in US payments," it was revealed that a significant majority of Americans are anticipating a complete transition to digital payments in the near future. The survey, conducted by Temenos, [...]
With the upcoming July launch of the Federal Reserve's instant payment platform, FedNow, many are wondering how it differs from the existing Real-Time Payments (RTP) network. While both systems enable 24/7/365 clearing and settlement of domestic payments in the United States, a closer examination reveals unique advantages and characteristics for each method. In this [...]
The Federal Reserve is set to launch its new real-time payment service, FedNow, in July. With the potential to reach thousands of U.S. banks and credit unions, this new payment service is expected to revolutionize the payments industry. But what exactly is FedNow, and how will it impact businesses? Let's take a closer look. [...]
