Lyons Blog

  1. Today’s consumers move fast. With all of the computing power of a desktop tucked away in nearly every pocket, today’s businesses can’t delay basic transactions. The longer it takes to make a purchase from one vendor, the more likely they are to finish buying somewhere else. (more…)

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  2. In this era of global commerce, it can be difficult to know the specific details of every client with whom one does business. Federal law actually prohibits transactions with certain companies, businesses and individuals in order to limit nefarious activity. However, many U.S.-based entities fail to do the full due diligence to ensure compliance with U.S. law. (more…)

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  3. The newest iteration of FinTech, regulatory technology, or RegTech, is a series of services designed to help financial institutions navigate the increasingly murky waters of regulation. After the 2008 crash, regulators focused on banks and other financial institutions, tightening restrictions on many aspects of banking and lending. With the rules constantly changing, financial institutions need ways to rapidly adjust to new regulations and minimize risk when facing numerous market disruptions. Enter RegTech, a suite of technologies designed to provide the needed agility and risk mitigation. (more…)

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  4. The federal government issues sanctions against foreign-based governments, people and companies that break the American laws prohibiting terrorist activities, narcotics or human trafficking. Once those sanctions are in place, the government also prohibits American companies and individuals from doing business with the sanctioned entities. The OFAC — Office of Foreign Assets Control, a division of the U.S. Treasury Department — is responsible for enforcing those sanctions, and every U.S.-based company that seeks to do business with a foreign-based government, contractor or person must screen that candidate across OFAC lists to be sure they are not engaging with a prohibited entity. (more…)

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