Description
Understand the unique compliance risks associated with P2P services, and the steps financial institutions can take to mitigate these risks.
Peertopeer (P2P) payment services present unique compliance obligations and risks for financial institutions and their customers. Financial institutions must comply with existing laws and private rule sets while balancing customer expectations of speed and convenience to remain competitive. These interests must be appropriately balanced to satisfy both legal compliance obligations and customer expectations. This presentation will explain how P2P payment services provide services, discuss the unique compliance risks associated with these services, and outline steps financial institutions can take to mitigate these risks.
Date: 2024-07-24 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to explain how P2P payments services provide services to consumers and businesses.
* You will be able to discuss the risks and liabilities associated with providing customers access to P2P payment services.
* You will be able to develop strategies to mitigate risks associated with offering customers access to P2P payment services.
* You will be able to review errors and fraud.