Subscribe to our blog
Get ahead with our award-winning insights on the latest developments in the fraud and compliance landscape. Enter your email below to receive our blog posts directly to your inbox.
David Andrews

Post Written by

We’ve been going to Money 20/20 for a long time. For a company that focuses on reducing risk and increasing the effectiveness of Anti-Money laundering (AML), Know Your Customer (KYC), sanctions and PEP screening, and Identity Proofing efforts, Money 20/20 is a great fit. We’ve met a wide variety of companies big and small focused on various aspects of banking, FinTech, payments, and e-commerce. Along the way we’ve learned a lot. We’ve learned from the conversations with people that visited our booth, and we’ve learned from the great sessions that Money 20/20 has. The purpose of this blog is to point out a few sessions that we’ve bookmarked for our trek to Money 20/20… sessions that you might also enjoy.


  1. Cannabis Banking Regulation: What Should Change 

Date: Sunday, October 27, 11:05 am – 11:20 am

Speaker: Richie Thorne, Advisor of Regulatory Programs Data Financial


In 2014, FinCEN issued guidance on the Expectations of Financial Institutions Serving Marijuana Businesses. The goal was to clarify customer due diligence/ Enhanced Due Diligence (CDD and EDD) expectations and reporting requirements. However, broad guidance has led to inconsistent application of the law. This session provides a first-hand account of different mistakes or misapplications that have resulted in an arbitrary regulatory environment, and how the first federal regulator to deal with state-legalized cannabis businesses wants to fix the problems.


Throughout our history we have helped a lot of new companies in new industries tackle the process of handling regulations starting with KYC and moving through Sanctions and Transaction Monitoring for fraud prevention and anti-money laundering.


We expect that KYC is going to be the starting point for many starting a Cannabis-based business. Our KYC plug-in is an easy way to get started, getting companies up and running with a few lines of code, in a few hours. Its adaptable to website look and feel and can be configured to verify provided data and identity documents that help address customer due diligence and enhanced due diligence requirements. And, it applies best practices across focused on a wide variety of geographies.

Find out more about our KYC Solutions


  1. Innovation & Regulation: Squaring the Circle

Date: Tuesday, October 29, 2:10 pm – 2:40 pm

Speakers: Jodi Golinsky, Director, Associate General Counsel of Payments & Financial Services Shopify Inc.; Zara Reader, Head of Legal; Paul Watkins, Director, Office of Innovation Consumer Financial Protection Bureau

Moderator: Ori Lev, Partner Mayer Brown LLP


Regulators are starting to see how technology can transform the consumer experience for both good and bad. This panel of former regulators, lawyers, and industry leaders will discuss recent regulatory efforts to foster innovation in both the US and abroad, and they will discuss the challenges of ensuring regulators sufficiently understand the technologies they are regulating and highlight the biggest regulatory risks facing disruptors and innovators in the fintech space today.


As Regtech companies and others advance the state of technology to amplify compliance capabilities and effectiveness at scale, it is important that regulators stay in the loop. Stay in the loop so they can understand the state of the art technology, and to understand how compliance efforts are affecting users. Online businesses are constantly struggling to optimize customer experience. However, that often times puts them at odds with their desired level of risk. For instance, consumer businesses understand how increased friction with their users (e.g. more questions, security checks) can lead to fewer customers. Yet, opening the flood gates to everyone, trusted and untrusted is not the right way to get more customers.


One way that IdentityMind addresses this is through a risk-based approach that regulators endorse and that allows companies deploying our solution to vary the levels of screening based on the levels of risk that each prospect shows. This essentially means that you can show your best customers the fast line, while applying additional levels of screening to suspicious prospects.

Find out more about our risk-based approach


  1. Smart Monitoring: Leveraging AI for Regulatory Risk Management

Date: Tuesday October 29, 3:05 pm – 3:20 pm

Speaker: Suraj Madnani, Vice President, Risk Management & Product Development American Express


Every industry is looking to incorporate Artificial Intelligence in their work. RiskTech and RegTech are no exceptions. Attendees will discover how Smart Monitoring leverages machine learning, AI, and other technologies to improve risk management teams operate at peak efficiency and to track with changing regulations.


IdentityMind has been a long time proponent of machine learning and advanced analytics techniques such as graph intelligence within its platform. At the center of the IdentityMind platform are digital identities. Digital Identities are dynamic, evolving digital versions of the individuals that companies do business with. Using machine learning and graph intelligence, IdentityMind is able to understand patterns, correlations and ultimately the level of risk that an individual represents. The platform can conduct these analyses when a company first meets a prospect and at subsequent visits, whether they are a customer or still a prospect.

Find out more about our machine learning and advanced analytics


  1. How to Manage Regulatory Requirements When Moving Money Globally

Date: Tuesday, October 29, 3:20 pm – 3:35 pm

Speaker: Peter Butterfield, Chief Compliance Officer & General Counsel Flywire


When moving money across international borders, regulatory knowledge is critical. This can mark the difference between a smooth operations and slower expansion and regulatory penalties.  This session focuses on how to think about and plan for the regulations that will affect your business when you are moving money across international borders.


For many years, we have worked with Money Service Businesses and with Digital Exchanges on compliance across international boundaries. After all, not only are these businesses built on trust that ensures that customers feel comfortable with the business and keep coming back, but they are also under increased scrutiny by multiple jurisdictions and they need to make sure that their efforts meet regulatory requirements. We have helped companies of all sizes install their first system, replace Excel spreadsheets, or uplevel their existing compliance technology to increase their accuracy and reduce their compliance cost. Because we offer AML solutions (including sanctions, transaction monitoring and KYC) and risk management solutions targeted at reducing fraud, our platform provides a solution that our customers can grow into without having to seek new vendors and worry about costly integrations or custom code.

Find out more about our AML solutions


Of course, we have lots more to say on these topics and more. To learn more about us and how we can help, feel free to drop by booth 4527 or schedule some time to meet with us…

Meet with us at Money 20/20