SID Global Solutions’ Post

Navigating Banking in a Regulatory Landscape In today's rapidly changing banking landscape, regulatory scrutiny has become more critical than ever. I wanted to reach out and engage in a discussion about this vital aspect of our industry. 👨💻 Banking regulations impact every aspect of our work, from compliance challenges to strategic decisions. Understanding these regulations and their implications is essential for both success and risk management. 💱 What strategies have you found effective in maintaining compliance while driving business growth? ♻ #banking #bank #baas #fintech #OCC #FDIC

"...leaderships’ need to pay close attention to risk mitigation, regulatory compliance, and the infrastructure that supports third-party relationships." Tyler Brown makes a good point as regulators need to see an increase in supervisory focus as banks prepare for the current and upcoming regulatory expectations. 2024 regulatory scrutiny is not just for the larger banks anymore. It's for all banks especially those with or aspiring to have fintech partnerships. It may be time to hold off on some initiatives, but it is not time to slow down on looking into legacy issues and ensuring you are compliant in all areas impacting your risk and governance. #CCGCatalyst #consulting #banking #2024

If you read only news headlines, you might think the sky is falling to banking-as-a-Service. But the truth is, most banks are taking a more practical look at new regulatory scrutiny. In part, because of the massive opportunity that these program provide. Cornerstone Advisors estimates that embedded finance alone may be a $25 billion revenue opportunity for banks. That said, fulfilling that promise means moving proactively now to strengthen oversight and control of your third-party programs. In a speech last month at CBA Live, Acting Comptroller of the Currency Michael J. Hsu said, “Consumer banking and compliance are more inextricably linked now than ever. This presents a challenge—and an opportunity—for banks and how they approach compliance risk management.” Alloy for Embedded Finance is designed to make it much easier for banks and fintechs to work together collaboratively to manage identity and compliance risk. It gives sponsor banks visibility into compliance across their entire portfolio of third-party partners, all in one place. Oversight is baked in as the default baseline – and we think that’s the future.

Workiva with CFO Dive shares how banks can modernize their risk reporting strategically and gain value from technology while limiting its risks. Learn more here: https://lnkd.in/gXM3pBqd #CFO #Banking #Risk

How fintech-forward banks can prep for regulatory scrutiny A federal agencies' joint guidance emphasizes due diligence in risk management, highlighting the importance of considering risk level, complexity of third-party relationships, and the nature of partnership in any business arrangement between banks and outside partners. Regulators emphasize the importance of due diligence in third-party relationships, stating that higher-risk activities require relatively more scrutiny. The guidance rules highlight the risks of a single sponsor bank relationship, suggesting multiple relationships may offer protection. Fintech opportunities exist for management teams with proper staffing, policies, and procedures. Read more at 👇 https://okt.to/zqprYd #Banking #Fintech #riskmanagement #bank

🚀 Excited about FinTech innovation in banking? Learn how to navigate risks and embrace opportunities with our latest blog post: "Embracing Innovation, Mitigating Risk: Integrating FinTechs into Your Bank’s Risk Management Operations." Discover insights on regulatory challenges and strategies for success. #FinTech #BankingInnovation #RiskManagement 💼💡 Check it out now! #Finance #Technology #DigitalTransformation https://bit.ly/4beefJY

With the advent of digital platforms, business lending has undergone a transformative evolution. These platforms offer a streamlined and efficient way for banks to expand their lending services while providing enhanced risk management tools. Our latest blog post looks into digital platforms and five considerations for banks. https://ow.ly/BKYg50Q8XrZ

Financial institutions around the world are always evolving, and as we approach 2025, one can expect significant changes in the operations and responsibilities of bank risk functions. Drawing inspiration from a detailed analysis, the following presents a comprehensive vision of what a high-performing risk function might look like in the not-so-distant future, coupled with actionable strategies to achieve this transformation. Read the latest in our newest blog 👉https://hubs.li/Q025C2G70 #risk #erm #riskmanagement #banking #financialrisk

Open banking: How can banks create better customer experience? Jonathan Mascie-Taylor, Managing Director of Render, joined us at RiskMinds International to share the exciting opportunities that open banking can do for banks and what that means for risk management. Hear more from Jonathan >> http://spr.ly/6046RPALp #RiskMinds #openbanking #riskmanagement

🌟 Exciting Trend Alert! 🌟 As more banks are partnering with FinTechs, the importance of third-party risk management is becoming essential in the financial industry. Check out this insightful article from Banking Exchange on the key considerations and industry practices in managing these partnerships. My personal take? It's crucial for banks to adapt to the evolving landscape of financial technology while ensuring robust risk management frameworks. Stay ahead of the curve and delve into the details here: [Link to the article] #FinTech #Banking #RiskManagement #IndustryTrends #Partnerships https://ift.tt/TYnL6ov