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How to prevent internal fraud at your bank or credit union

Abrigo

How to prevent internal fraud at your bank or credit union Of the many fraud risks banks and credit unions face, one of the most costly comes from within the institution itself. ACFE reported that 5% of an organizations revenue is lost to internal fraud each year, with an estimated $3.1 billion in total losses.

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Unveiling the Future: 5 Key Trends Shaping Financial Services in 2025

Perficient

Additionally, the emergence of embedded finance and an increased focus on regulatory compliance are compelling financial institutions to continuously adapt and innovate. The integration of AI is reshaping the landscape by addressing challenges such as data protection, regulatory compliance, and the modernization of legacy systems.

Trends 221
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6 Digital Banking Trends for 2025

Perficient

Banks can use advanced data analytics and AI to deliver highly personalized financial services, such as customized savings plans and tailored investment advice. Recommended Approach: Banks should leverage advanced data analytics, artificial intelligence (AI) , and machine learning (ML) to create highly individualized experiences.

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6 Digital Payment Trends Set to Transform 2025

Perficient

This transformation will require a delicate balance between innovation and compliance, ensuring that advancements in AI contribute to a secure and efficient payments landscape. Additionally, businesses should explore new revenue models through premium features and address integration complexities with robust data governance and analytics.

Trends 221
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Celebrating FinCrime Fighter Day: Honoring the heroes of financial security

Abrigo

Their contributions are massive, and if you’ve ever worked with AML Officers and fraud professionals, you know just how vital they are. Every day, I’m reminded of the critical role the teams at our 2,500 bank and credit union customers play in anti-money laundering (AML), combating the financing of terrorism (CFT), and fraud prevention.

Security 221
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AI Regulations for Financial Services: OCC

Perficient

The economic risks of AI to the financial systems include everything from the potential for consumer and institutional fraud to algorithmic discrimination and AI-enabled cybersecurity risks.

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Why The Best Fraud Defenses Need Artificial And Human Intelligence

PYMNTS

Mari Anne Bayliss , senior director of solution management at CyberSource , told Karen Webster that simply relying on machine learning as a weapon against fraud is not enough — not in an age where managing fraud risk during the great digital shift (and unprecedented transaction volumes) is so challenging. .

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