PYMNTS

JULY 15, 2020

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. .

Fraud 250

Fraud Course Online Data 250

PYMNTS

JUNE 3, 2019

For credit unions (CUs), data analytics can deliver that insight, helping them to more effectively address their members’ specific needs, and informing CUs of the products and services that can deliver the most effective returns on their investments. percent of CUs that did not focus on data analytics. For example, 91.7 Meanwhile, 80.6

Analytics 150

Analytics Innovation Data Fraud 150

PYMNTS

JUNE 19, 2018

Fraud has no choice but to roll with the punches, and the flurries are enough to daze a boxer as skilled as Ali. By now, it’s widely known that chip-enabled cards have been pushing fraud to digital conduits. This is the estimate of global card fraud losses by 2020. Pity the poor fraudster. Grab a piece of an ID and blam!

Fraud 138

Fraud Analytics Online Cards 138

PYMNTS

DECEMBER 18, 2020

This revenue free fall could result in 100,000 restaurants nationwide closing either temporarily or permanently, with 40 percent of all restaurant operators unsure whether they can survive six months into the future. The Fraud Threats Of 2020.

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Fraud Trends Security social media 229

PYMNTS

NOVEMBER 17, 2020

The number of real-time payments has risen dramatically in recent years, and APP fraud has grown alongside it. Bad actors typically perpetrate APP fraud in several ways. APP Fraud Ramps Up. Instances of APP fraud around the globe have continued to rise as real-time payment rails extend their reach.

Fraud 223

Fraud Payments Survey Security 223

Abrigo

JULY 13, 2023

Avoid fraud losses from pig butchering scams FinCrime professionals looking to prevent pig butchering scams in the age of cryptocurrency can follow these steps to tighten security. Takeaway 1 Investment fraud schemes known as pig butchering scams contributed to $3.3 billion in fraud losses in 2022. billion in 2021.

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Fraud cryptocurrency Training social media 195

PYMNTS

JUNE 20, 2019

Retailers focused on combating fraud have credit cards in the cross-hairs of their efforts. But ramping up the war on card fraud can introduce a new risk to companies: false positives. This isn’t merely an issue for the B2C world, however. The False Positive Threat.

Fraud 182

Fraud Payments Cards Strategy 182

PYMNTS

NOVEMBER 3, 2017

It was a busy time for B2B venture capital this week, and while funding ranged across verticals from expense management to SaaS, there was a clear theme in investment rounds: high-tech data analytics. Glint plans to use the investment to scale operations and accelerate growth into Europe. Expense Management. Talent Management.

Analytics 189

Analytics Data Capital San Francisco 189

PYMNTS

MAY 1, 2020

Amid rising criticism over the loan effort, the Department Of Justice has reportedly discovered potential fraud among companies seeking relief with the Paycheck Protection Program (PPP). That team has been utilizing data analytics for over 10 years to find criminal activities linked to Medicare in addition to other federal programs.

Fraud 178

Fraud Guidelines Analytics Regional 178

PYMNTS

SEPTEMBER 21, 2020

Consumers are using mobile apps’ order-ahead features and loyalty perks more often during the COVID-19 pandemic, yet chargeback fraud — also known as friendly fraud — is unfortunately also rising. Mobile ordering is at the center of business operations for Blaze Pizza and many fast casual dining chains today.

Fraud 177

Fraud Mobile social media Customer Experience 177

PYMNTS

JANUARY 14, 2021

One survey determined that 19 percent of failed deliveries stem from erroneous delivery addresses, for example, and 66 percent of respondents cited address accuracy as key to their business operations. Merchants must therefore verify addresses to diminish the number of human errors. Gaining Consumer Trust.

Analytics 170

Analytics Data Study Millennials 170

Perficient

FEBRUARY 29, 2024

Banking institutions are responding by integrating advanced technologies, particularly artificial intelligence and data analytics, into their lending operations to enhance efficiency and adaptability. The emergence of modern alternatives to traditional credit scoring signifies a broader movement toward financial inclusion.

Trends 221

Trends Industry Analytics Compliance 221

PYMNTS

APRIL 1, 2020

One bank exploring data analytics is ATB Financial , which has 173 branches and 142 agencies throughout the Canadian province of Alberta and assets totaling more than $54.3 One of the early tools of ATB’s data analytics program was its customer service robot, Pepper , which was developed in partnership with SoftBank Robotics America.

Analytics 130

Analytics Data Fraud System 130

PYMNTS

OCTOBER 24, 2018

When it comes to deploying corporate resources in the battle against online fraud and account takeovers (ATOs), all too often, guiding principles fail to spot what’s really happening to a business in real time. The rule of thumb here is that after committing account takeover fraud, those fraudsters lie in wait before using the stolen account.

Fraud 159

Fraud Risk Management Customer Experience Trends 159

PYMNTS

JUNE 26, 2019

Anti-money laundering, data security, mobile/digital payments, fraud-fighting and payment tech rounded out the top five — with each ranking as a lead priority for over 50 percent of credit union executives. And in some of those objectives — particularly in fraud detection and prevention — those uses are happening, iterating and thriving.

Analytics 118

Analytics Data Tools Fraud 118

PYMNTS

SEPTEMBER 7, 2017

Think the life of a vice president of analytics is all about the numbers? But in an interview with PYMNTS, Massy Najafi , who serves in that role at Guardian Analytics , shed light on more than a few other aspects of the job. PYMNTS: What does a day in the life of a VP at Guardian Analytics look like? Think again.

Analytics 116

Analytics Fraud Innovation Industry 116

PYMNTS

APRIL 29, 2019

Citi announced on Monday (April 29) the launch of NextGen, its artificial intelligence-powered risk analytics scoring engine. We process nine million transactions annually, and the NextGen project will help us optimize our processes from the back office to the front by expanding the use of digitization, automation and advanced analytics.”.

Analytics 123

Analytics Compliance Innovation Operations 123

PYMNTS

MAY 2, 2017

Credit card fraud is a fact that will likely continue to plague retailers for the foreseeable future. It’s on the rise in the eCommerce arena, according to data released from omnichannel commerce technology and operations company Radial’s eCommerce Fraud Technology Lab.

Fraud 150

Fraud Data Cards Retail 150

PYMNTS

NOVEMBER 17, 2020

But, as three banking security experts told Karen Webster, that same trillion-dollar loss represents a significant authentication opportunity for financial institutions (FIs) if they leverage risk-based authentication and behavioral analytics to help shape and safeguard the great digital shift. Deputizing The Consumer.

Fraud 195

Fraud Mobile social media Security 195

Cisco

OCTOBER 2, 2020

Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA”) is a metric used to evaluate a company’s operating performance and how much profit they’re bringing to the bottom line. The economic volatility brought on by COVID-19 has impacted EBITDA across the Financial Services sector.

Analytics 149

Analytics Data Leadership Strategy 149

PYMNTS

SEPTEMBER 23, 2019

Credit scoring and analytics company FICO is launching the FICO Falcon X and the FICO Financial Crimes Studio to help data scientists leverage artificial intelligence (AI) technology to help with the detection of financial crimes, according to a release by the company.

Fraud 131

Fraud Analytics Compliance System 131

PYMNTS

DECEMBER 8, 2020

As the holiday shopping season kicks into high gear amid an unprecedented pandemic-era surge in online shopping, banks and merchants are bracing for an associated spike in fraud , disputes and chargebacks. Fighting Friendly Fraud. For every $1 in legitimate fraud, there is $13 in transaction value that is falsely declined,” he said.

Fraud 183

Fraud System Data Cards 183

PYMNTS

NOVEMBER 26, 2019

As consumers embrace real-time transactions, financial institutions (FIs) must recalibrate their fraud-fighting strategies. In an interview with PYMNTS, Kannan Srinivasan, senior director of risk strategy and analytics for Fiserv , said the bad guys are constantly shifting tactics — so the battle must be joined on several fronts.

Fraud 152

Fraud Payments Strategy Online 152

PYMNTS

OCTOBER 6, 2020

Money laundering is a never-ending threat to payments providers of all types, but especially to those that operate online. Know thine enemy” is the first rule of any fraud or money laundering prevention system, with payments providers of all types requiring an intimate knowledge of the threat they face if they have any hope of countering it.

Analytics 163

Analytics Data Analysis Payments 163

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. These types of scams fall under the broad term of remote authentication fraud, and they’re increasingly common—and inventive. Examples of remote authentication fraud. New account fraud.

Fraud 160

Fraud Strategy Community Bank New York City 160

PYMNTS

JANUARY 11, 2021

To that end, late last week Equifax said it had reached a deal to acquire fraud prevention and digital ID firm Kount for $640 million. As reported, the deal will enable Equifax to boost its global presence in digital ID and fraud prevention, including through the Kount Identity Trust Global Network. In a Monday (Jan.

Fraud 158

Fraud Online ATM United States 158

PYMNTS

JUNE 13, 2019

Countering digital fraud is a lot like playing whack-a-mole: As soon as one fraudster is taken out, two more pop up where they’re least expected. The popularity of digital banking services has created ample opportunities for bad actors, leaving banks scrambling to protect themselves against the rising tide of fraud.

Fraud 128

Fraud Analytics New Jersey Data 128

PYMNTS

MARCH 20, 2020

Fraud attacks’ frequency and complexity will likely continue to rise despite merchants’ best efforts to prevent them. The Latest Fraud Decisioning Developments. Malware targeting computers running the Windows 7 operating system were especially hard-hit, rising 125 percent, according to the report.

Industry 225

Industry Fraud social media Security 225

PYMNTS

OCTOBER 30, 2020

Most customers bypass dealing with merchants entirely when trying to stage chargeback fraud, with 76 percent of cardholders going directly to the payment card issuer. This gives merchants the evidence they need to dispute chargebacks when credit card companies approach them to recoup their losses.

Operations 228

Operations Payments Compliance System 228

PYMNTS

NOVEMBER 11, 2019

Data holds the key to helping modern enterprises develop effective anti-fraud strategies. Many businesses are sitting on massive troves of it, but they are also facing down the three “V’s” of data complexity — velocity, variety and volume — which can make tackling fraud even harder. . Structured Versus Unstructured Data.

Analytics 116

Analytics Data Fraud Tools 116

PYMNTS

APRIL 2, 2019

In the case of Google and Facebook, the three-way-match between invoices, purchase orders and payments could have alerted employees to the fraud before any money ever changed hands. However, it’s not uncommon for firms to lack these internal controls.

Analytics 148

Analytics Data Policies Management 148

PYMNTS

NOVEMBER 17, 2020

Over 60 percent of banks say fraud volumes are rising, with over 40 percent reporting that average fraud hit value is going up. Under COVID, one study finds that 22 percent of Americans had been targeted by pandemic-related fraud attempts as of April.

Fraud 182

Fraud Study Analytics Tools 182

PYMNTS

JANUARY 31, 2019

The growth of Same-Day ACH seems to also suggest that previous concerns about the risk of more fraud as a result of accelerated transactions has not held the industry back from adopting the functionality. Accelerated payments are taking off in several markets around the world, and NACHA’s latest figures demonstrate U.S.

Fraud 182

Fraud Payments Compliance Regulation 182

PYMNTS

FEBRUARY 24, 2020

These firms are finding that managing both systems in the cloud offers the flexibility and security needed to streamline invoicing and cut costs, while keeping operations running as smoothly and accurately as possible. Across The Next-Generation AP Automation Space.

Software 223

Software Fraud System Management 223

PYMNTS

OCTOBER 7, 2020

But data in payment transactions provides an often-untapped opportunity for merchants to optimize their payment operations and grow their businesses, Tony Wimmer , head of data analytics for J.P. said Wimmer, who oversees the data and analytics efforts of firm’s payments-focused businesses. “I They are interdependent.”.

Data 258

Data Analytics Payments Operations 258

PYMNTS

NOVEMBER 20, 2019

This rampant availability of users’ data makes it easier for bad actors to wreak havoc and commit fraud. She recently spoke to PYMNTS about how Scotiabank has revamped its fraud strategy in recent years. “I The increasing sophistication of fraud attacks has led Scotiabank to reassess how it employs AI, ML and automation.

Fraud 117

Fraud Data Management Analytics 117

Perficient

OCTOBER 24, 2024

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. Co-pilots: Software supported and enabled traders to operate more efficiently and swiftly.

Regulation 221

Regulation Risk Management Compliance Fraud 221