CREOBIS - CREO Business Information & Seminars

🚨 AI in Payments: Revolutionizing Fraud Prevention, But With Caution 🚨 AI is reshaping the payments space, especially in fraud detection. Key takeaways from recent developments: 🔹 Swift’s AI-driven fraud detection: Improved Payment Controls service analyses anomalies in live data, and an AI pilot with 10 global banks fights cross-border payment fraud. 🔹 Predictive analytics in action: HSBC's FX Prompt predicts beneficiary currencies in international payments, showcasing AI's potential to anticipate client needs. 🔹 Federated machine learning: Allows collaboration without compromising data privacy, which is crucial for compliance. 🔹 Caution in AI adoption: Experts warn AI isn’t a silver bullet—compliance, data security, and regulatory transparency remain critical. #AI #Payments #FraudPrevention #Compliance #Fintech https://lnkd.in/dSutnKuV

Théo Antunes' post on DLT & #Compliance highlights a crucial conversation for the #financialsector, especially in Luxembourg. Streamlining #regulatorycompliance through #DLT offers significant benefits, particularly in #AML procedures. Luxembourg's adoption of DLT in financial services signals a shift, but clear methodologies are needed for compliance alignment.

⏳ The future of B2B payments with AI isn’t if but when. The EU's #AIAct, now in effect, marks a pivotal step in regulating #AI, especially for industries like #financialservices. With AI's immense potential for #B2Bpayments, balancing innovation with oversight is crucial. AI can revolutionise payment #dataanalysis, optimize cash flow, and streamline invoice reconciliation, leading to significant cost and time savings. However, it's not a complete replacement for human intervention just yet. As AI evolves, businesses should embrace it cautiously, maximizing benefits while minimizing risks. #DigitalTransformation #Innovation https://lnkd.in/d_MhSuR7

🌐 Instant Payments: The Future is Now, But Are Banks Ready? During our "Instant Payments—The Last Mile" conference earlier this week, it became clear that many questions remain about the Instant Payments Regulation (#IPR). According to this article, #instantpayments will make up 22% of global non-cash #transactions by 2028. Yet, only 25% of #banks are prepared to process them. As we approach the Instant Payments Regulation deadline in January 2025, banks urgently need to adapt. The shift is undeniable—A2A #payments could disrupt traditional card systems, challenging established revenue streams. It's a wake-up call for the entire financial sector to prioritize readiness for instant payments. https://lnkd.in/ejQNWexv

📊 Autumn 2024 Joint Committee Report on EU Financial Stability Risks 📊 The three European Supervisory Authorities (EBA, EIOPA, ESMA) have just released their Autumn 2024 report, highlighting elevated economic and geopolitical uncertainties. Key takeaways: 🚨 Financial market vigilance is crucial amid ongoing risks from high #interestrates and #inflation volatility. 💳 #CreditRisks are in focus for the first time, urging institutions to maintain robust provisioning policies. 💡 Institutions must be agile in navigating unexpected short-term challenges, including inflation and #cyberrisks. 🔗 Collaboration between #financialinstitutions and supervisors is essential for safeguarding stability in these turbulent times. #Risk #RiskManagement #RBA #FinancialStability https://lnkd.in/deU9uvHd

🚀 Yesterday's session on #InstantPayments (IP) was incredibly engaging, with a rich exchange of knowledge and insights. It was a pleasure to see relevant #legal and operational questions addressed, which fueled the discussions and enhanced the collective understanding. Much of the rich exchanges focused on the challenges related to: - The 10-seconds timeline - Paper-based payments - #VOP services standardization and the cross-border interoperability of VOP services - The need for standardized #APIs and directory services - Liability & regulation, especially the rules on liability between VOP solution providers - #DataQuality & #SanctionsScreening Our discussion also raised important questions about #GDPR challenges, #bulkpayments, and expectation management for Instant Payments. This session underscored the need for collaboration across the industry to ensure a successful implementation by 2025. Many questions remain open regarding the interpretation of the rulebooks and schemes and their implementation. We'll closely follow these topics and undoubtedly continue to bring you the latest updates as instant payments evolve. 🙏 Special thanks to our speakers for fostering such a rich interaction and sharing their expertise and knowledge. 🙌 Silvia Di Lillo European Payments Council (EPC), Begoña Blanco Sanchez ING Belgium, Saar Carre Febelfin, Francis De Roeck. A big thank you to Scott McInnes Bird & Bird for his excellent role as conference moderator. 🙏 Thank you to all the participants for raising pertinent questions and sharing their understanding and insights on this very challenging topic. We look forward to future discussions and collaboration! #PaymentsInnovation #Payments #Fintech

🚨📅 Rejoignez-nous à Bruxelles le 24 septembre pour l'événement incontournable de l'année ! 📅🚨 La conférence "AML/CTF : Table Ronde des Régulateurs." Une occasion de dialoguer directement avec les régulateurs et d'enrichir vos connaissances sur des sujets cruciaux. 🤝💡 👉 Réservez votre place dès maintenant pour anticiper les attentes des régulateurs en matière d'AML/CTF ! https://lnkd.in/e_d-cE27 #AML #CTF #Régulation #Bruxelles #Networking #Conférence Isabelle De Groote, Banque nationale de Belgique I Gaetan Laga, FSMA I Patrick SERE, FOD Financiën - SPF Finances I Virginia Di Marcoberardino, FOD Financiën - SPF Finances I Arnaud Lecocq, Compliance4Business Belgium I Eric van den Bosch I Jean-Pierre Buyle, Monard Law I Willem Van de Wiele, White & Case LLP, Alix Lambert de Rouvroit, Febelfin

📣 Ongoing! Our "Instant Payments - The Last Mile" conference! #Payments experts and peers have gathered this morning for the latest updates on #InstantPayments to ensure #compliance by January 2025. There are very important challenges related to Instant payments; needless to say, there are many questions and great interaction between our expert speakers and the audience! "Let's make European Payments great again"... Scott McInnes, Begoña Blanco Sanchez, Silvia Di Lillo, Francis De Roeck, Saar Carre

🚨 Last Days to Register for the #InstantPayments - The Last Mile conference on September 10 🚨 With the fast-approaching EU Instant Payments Regulation deadlines—January 9, 2025, for EU institutions and January 2027 for non-EU countries—#financialinstitutions are under pressure to ensure #compliance. This is your last chance to join us at the "Instant Payments - The Last Mile" conference and gain essential insights to prepare your institution for this #regulatory milestone. Don’t miss this opportunity to learn from leading experts and take away the necessary knowledge to meet compliance requirements. Here’s what’s on the agenda: 💡 Latest Rulebook Updates 💡 Instant Payments Regulation – Where do we stand? 💡 Compliance Frameworks and Challenges 💡 Impact, Priorities & Deadlines 💡 #Sanction, #Fraud & #TransactionScreening Key speakers include: Silvia Di Lillo, Senior Legal Counsel, EPC Saar Carre, Head of Payments, Febelfin Begoña Blanco Sanchez, Head of Product Management Payments, ING Belgium Scott McInnes, Partner, Bird & Bird Francis De Roeck, Payments Expert This conference is a must-attend for Heads of Payments, Digital Banking, Compliance Officers, Fintech leaders, and all professionals navigating the payments landscape. Prepare now to ensure your institution is ready for the future of instant payments. ⏳You are still in time to register 👉 https://lnkd.in/d3sHhDdP #Payments #InnovationInPayments #PaymentsPack2024

💰#MoneyLaundering Schemes and #UndergroundBanking The recent case in London sheds light on criminals' sophisticated methods to launder money through underground #bankingnetworks. Operating via Chinese messaging apps and anonymous #transactions, the group laundered over £55 million by circumventing foreign currency controls. Their tactics included: - Collecting large sums of #cash without ever meeting the source - Using coded banknote serial numbers to ensure anonymity - Employing cash counting machines to handle the flow of #illicitfunds This complex operation highlights the evolving challenges in detecting and dismantling covert #moneylaunderingschemes. Perseverance and cooperation among all players are crucial to tackling #financialcrimes and money laundering. #AML #AMLCompliance #MoneyMules https://lnkd.in/dAX7ne3j