Mr. Open Banking’s Post

Financial crimes in the banking sector are becoming increasingly sophisticated and complex, outpacing traditional methods that focus on isolated transactions rather than the broader context of customer behavior and relationships. Banks are improving the accuracy and effectiveness of their risk detection systems by leveraging Contextual Monitoring technologies, resulting in more timely and reliable decision-making. Download Quantexa’s whitepaper to learn how integrating advanced analytics and contextual data can strengthen a bank's defenses ensuring both regulatory compliance and customer trust - https://lnkd.in/dNj9qRbZ #FinancialCrime #FinTech #AdvancedAnalytics #ContextualMonitoring

Banks are sitting on a goldmine of KYC data. But how can they unlock its true value? The key is to break down silos and turn the data into actionable insights. 👀 Catch a glimpse of the discussion with Teemu Kettula, who is actively building in the space, in this sneak peek. 📺 For full insights, join our free LinkedIn Webinar, “KYC Mastery” on September 20th at 11:00 AM EEST. It also features experienced Harri Rantanen and Henrik Kristensen. 🔋 And for even more on how data can be leveraged in #banking today, join us at the Nordic Banking Forum on November 28th in Helsinki. #NordicBankingForum #KycMastery #HelsinkiFintech #DigitalPayments #DigitalBanking

We are warming up for Friday's webinar! Next era of KYC in banking! Markets have started seeing and will continue to see banks to not only meet the regulatory compliance, but to harness their KYC Data for other value creational activities! Such as utilizing parts of KYC Data in other functional areas: Credit, ESG, company valuation, wealth mgmt, etc. Banks are also creating value in the area of Compliance data by making processes more efficient and effective; 1) automating data collection processes, 2) starting to reconsider/break conventional functional KYC/Compliance silos (PEP screening, Sanction screening, EDD, CDD, Fraud, ESG, etc), 3) centralizing data management/storage and optimizing the data models 4) proactively optimizing processes with human and AI resources (transaction screening, risk calculations, data validations&verifications) All above value creation activities boils down to the data quality! The data game is on! I encourage you to follow Enento Group's progress Nordicly in Compliance data solutions! We will be introducing soon something shiny in the Swedish market :)

Exciting development in the world of open banking: FDATA North America's Executive Director, Steve Boms, was featured in Law360 for praising the Consumer Financial Protection Bureau (CFPB) on their significant step forward by formalizing qualifications for industry organizations to become recognized standard-setting bodies under the forthcoming Personal Financial Data Rights final rule. We commend the CFPB for the detailed attributes laid out in this final rule, emphasizing the importance of balance, transparency, consensus, and due process. This framework ensures that organizations setting technical standards will support the delivery of third-party financial services, products, and tools to enhance consumer financial wellbeing. Additionally, the timing of this rule allows standard-setting bodies to get accredited before the completion of the Section 1033 rule, accelerating the move towards compliance with the Bureau's open banking regulations. Read the full article here: https://lnkd.in/eYK_wpcR #OpenBanking #Fintech #CFPB #FinancialInclusion #DataRights

#TBSCONF24LUX, The Banking Scene's annual conference in Luxembourg! Will you be there? The event will define what brings banks back at the forefront of societal transformation and we can't wait to be part of it. On 30 January, this event brings together +150 attendees for mindboggling discussions and lively debates about the banking scene. And amongst those attendees, Dagmar S. and Christophe Himpens, two great minds representing the Discai colors 😎. The theme this year will be "The Paradigm Shift in Banking: Transforming the Rules of Engagement", so come and let's catch up on the latest techniques on how to fight money laundering. #BankingInnovation #BankingRevolution 

The world of banking and finance is changing fast and data analytics is leading the way! 📊 With tools like Kytes, banks, insurers, and financial experts can now stay ahead of fraud, understand customers better and run smoother operations. Imagine predicting risks before they happen and knowing exactly what your clients need — all thanks to smarter data insights. Blog Link in the Comments. #DataAnalytics #BFSI #KytesApp #SecureData #FinancialServices #Blog

💡 Consumers increasingly demand clarity in their financial information! That's where advanced transaction data enrichment comes into play, transforming raw data into consumer - comprehensible insights. Dive into our latest article, 'Elevate Transaction Data: Why Accurate Match Rates Matter', and discover: ✔ The significance of match rates in transaction data enrichment ✔ How match rates impact data enrichment process ✔ The benefits of high match rates ✔ Proven strategies to improve match rates 📖 Don't miss out—click here to read more and learn how Snowdrop Solutions can help you improve your banking data: https://lnkd.in/dvCazYEp #TransactionDataEnrichment #Fintech #CustomerExperience #MRSAPI JF Sullivan Tom P. Violette Zuhra Ana Cantero Daniel Ritchie

Can South Afford the costs associated with Net Zero? More pertinently, “Can South Africa afford NOT to invest in our Net Zero ambitions?” Beyond Banking - the answer lies in creative solutions being developed to flex South Africa’s capital and financial markets, and to become an attractive destination for global climate and just transition finance. #justtransition #climateresponse #climatefinance #justenergytransition #alternativelivelihoods #economicdivwrsification

"The complex can become simple. Being different is OK." 💫 In the latest edition of The Financial Technologist, Nanna Bergmann, Group Managing Director Brand and Strategy at The Bank of London discusses the historical significance of banking crises and recent events, emphasising the need for robust measures to protect depositors and prevent systemic risks. Nanna highlights innovative models like The Bank of London, emphasising the need for a shift towards customer-centric banking solutions. Download your free copy of The Financial Technologist to read the full article (Pages 72-73)👇 https://lnkd.in/eCR4sYeY #TheFinancialTechnologist #MostInfluential2024 #FinTechMagazine

As the UK stands on the brink of a pivotal shift towards a Smart Data economy, the urgency to embrace and expand Open Banking across new sectors has never been more critical. A recent panel discussion, featuring key figures from the Open Banking Limited and government representatives, sheds light on the challenges and opportunities that lie ahead. Read the article: https://lnkd.in/enQyQ8tZ OBV offers a seamless gateway to secure and consented financial data, empowering lenders with deeper insights and fostering a more inclusive financial ecosystem. #SmartData #OpenBanking #FinancialInnovation #CreditRiskManagement #LendingMetrics #Fintech #UKFinance