PYMNTS

JANUARY 13, 2021

The prevalence of online commerce opens new doors for digital fraud, however, both from career fraudsters and opportunistic customers. Developments F rom The World Of Digital Fraud. Developments F rom The World Of Digital Fraud. For more on these and other digital fraud news items, download this month’s Tracker.

Fraud 189

Fraud Analytics Data Retail 189

South State Correspondent

APRIL 1, 2025

Popular use cases include request for payments using the instant payment rails (above), loan payments and transaction verification to prevent fraud. Better Analytics: RCS provides detailed analytics on message delivery, read receipts, and customer interactions, enabling banks to optimize their communication strategies.

Marketing 195

Marketing Security Analytics User Experience 195

PYMNTS

DECEMBER 21, 2020

That's why we call them human analytics. They move through the data faster, they don’t tend to make a lot of errors when filling in their personal data, and their physical use of their technology is on the whole more confident. This allows them to start seeing the fraud.”. Creating A Path To More Conversions.

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Fraud Analytics Data Security 315

PYMNTS

OCTOBER 14, 2020

Restaurants are working overtime to ensure their ordering systems are as friction-free and secure as possible, with many deploying advanced technologies to do so. The chain recently unveiled a new restaurant design plan that will primarily leverage contactless digital and mobile technologies, with the first location planned to open in 2021.

Analytics 161

Analytics Fraud Data Mobile 161

Abrigo

FEBRUARY 12, 2025

Banks & credit unions use technology to solve challenges AI today is the result of decades of research and development. In the same way, FIs have consistently leveraged data and technology to solve challenges and serve communities better. Interestingly, banking and lending have been closely tied to this technological journey.

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Lending Data Fraud Technology 221

Perficient

FEBRUARY 12, 2025

As technology advances and consumer expectations shift, staying ahead of these trends is crucial for success. As these AI technologies evolve, they will transform consumer interactions with payment systems, fostering a more inclusive and sustainable financial ecosystem.

Trends 221

Trends Payments Compliance blockchain 221

PYMNTS

OCTOBER 19, 2020

Meeting this fraud threat will require in-depth knowledge of fraudsters’ techniques and advanced technology and customer vigilance, according to Jamie Armistead , vice president and business line leader for banking app Zelle. “We We split out scams and frauds,” he explained in a recent interview with PYMNTS.

Fraud 171

Fraud Analytics System Examples 171

PYMNTS

SEPTEMBER 23, 2020

A recent study from PwC found that 47 percent of companies had experienced fraud at least once in the past two years, with a grand total of $42 billion in funds stolen over this period of time. There were 223,163 cases of identity theft that year across all generations, with 42 percent of them consisting of bank and credit card fraud.

Technology 208

Technology Report Fraud Study 208

PYMNTS

JULY 12, 2020

The Electronic Crimes Task Forces and Financial Crimes Task Forces will be merged into the Cyber Fraud Task Forces (CFTF). But investigators cannot pursue a financial or cybercrime investigation without understanding the financial and online sectors, as well as the technologies and institutions that power each industry, the agency added.

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Fraud Training Security Analytics 213

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. Hsu discussed the systemic risk implications of AI in banking and finance using a “tool or weapon” approach.

Regulation 221

Regulation Risk Management Compliance Fraud 221

PYMNTS

JUNE 20, 2019

Data analytics company Equifax is teaming up with identity verification solutions provider GIACT Systems to help joint corporate customers mitigate the risk of fraud. “We are pleased to be entering into an alliance with Equifax ,” said GIACT Co-Founder and CEO Melissa Townsley in a statement.

Analytics 122

Analytics Fraud Compliance Data 122

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.

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Fraud Payments Survey Security 223

PYMNTS

SEPTEMBER 24, 2018

Perhaps more troubling, however, is digital fraud’s projected future. Recently published research noted global fraud losses could top $6 billion by 2021, more than doubling the $3 billion lost worldwide in 2015. As such, businesses are now investing in their security and fraud prevention technology and solutions.

Fraud 195

Fraud Security Analytics Data 195

PYMNTS

SEPTEMBER 20, 2019

19) that its Fleet module is now available to users of its artificial intelligence (AI) analytics platform that automates fleet card transaction analysis. The company said in an announcement on Thursday (Sept.

Analytics 158

Analytics Cards Analysis System 158

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.

Fraud 195

Fraud cryptocurrency Training social media 195

Abrigo

SEPTEMBER 20, 2023

How financial institutions can prevent losses from 1st-party fraud Learn strong approaches to identifying, preventing, and detecting 1st-party fraud that will keep your AML program on top of fraud trends. Takeaway 3 Prevention and detection best practices can curb hard dollar 1st-party fraud losses while protecting clients.

Fraud 195

Fraud Cards Trends Software 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Takeaway 1 Regtech uses new technologies such as AI and machine learning to streamline processes that keep organizations compliant. Consider what compliance and risk functions your organization would use as a starting point when integrating technology.

Technology 195

Technology Fraud Compliance Regulation 195

Abrigo

JULY 27, 2023

Would you like other articles on fraud and AML/CFT compliance in your inbox? Takeaway 1 Regtech uses new technologies such as AI and machine learning to streamline processes that keep organizations compliant. Consider what compliance and risk functions your organization would use as a starting point when integrating technology.

Technology 195

Technology Fraud Compliance Regulation 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

DECEMBER 18, 2020

These growing revenue streams carry their own risks, however, not the least of which is their propensity to be targeted by fraud. The Fraud Threats Of 2020. Most customers bypass restaurants entirely when trying to perpetrate chargeback fraud , with 76 percent of cardholders going directly to their payment card issuers.

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Fraud Trends Security social media 229

PYMNTS

JANUARY 8, 2021

Equifax has inked a deal to purchase artificial intelligence (AI)-powered fraud prevention and digital identity technology provider Kount for $640 million. Kount’s staff members will become a part of Equifax’s United States Information Solutions (USIS) business unit and will still be based in Boise, Idaho, according to a Friday (Jan.

Idaho 295

Idaho Fraud United States Customer Experience 295

PYMNTS

APRIL 15, 2020

While there is no shortage of new things in the world to get used to these days, cybercrime and fraud are, unfortunately, not among them. The good news, both Srinivasan and Awad told PYMNTS, is that while fraud attempts are up among U.S. consumers, fraud losses are not, yet. million pounds out of the unwitting. “We

Fraud 201

Fraud Risk Management Security Cards 201

PYMNTS

MAY 5, 2020

“Credit unions across the country are on high alert for scammers looking to take advantage of members during the pandemic and are stepping up fraud prevention efforts as a result,” according to PYMNTS’ April Credit Union Tracker® done in collaboration with PSCU. This, in turn, helps mitigate fraud.”.

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Fraud Analytics Boston Data 239

PYMNTS

MAY 4, 2020

Advances in technology are making consumer transactions seemingly more secure, but cybercriminals are still finding sophisticated ways to beat systems and commit financial fraud. A 2018 study on payment fraud mitigation reported that 75 percent of financial institutions (FIs) experienced fraud losses.

Analytics 141

Analytics Data Security San Diego 141

PYMNTS

AUGUST 13, 2020

Barclaycard has rolled out its Barclaycard Payment Intelligence (BPI) offering that harnesses detailed information analytics to give procurement departments a wide view of their supply chains, which allows them to save money, according to an announcement.

Analytics 173

Analytics Resources Payments Fraud 173

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. Intel Capital, California Technology Ventures, Tesi, SmartFin Capital and Open Ocean also participated in the round. Expense Management.

Analytics 189

Analytics Data Capital San Francisco 189

Abrigo

JULY 10, 2020

Community banks and credit unions partnered with their communities to help families and businesses through these unprecedented times , causing spikes in consumer fraud that must be faced head on. According to the new advisory , t wo fraud typologies are trending: imposter scams and money mule schemes. Learn more. SBA Lending.

Fraud 195

Fraud Lending Software Analytics 195

BankInovation

MARCH 2, 2022

The Bank of Montreal saw improvements in its fraud monitoring once it started using the Pindrop platform and banking consortium data in its workflow. CHARLOTTE, N.C.—The

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Analytics Fraud Charlotte Security 98

PYMNTS

JUNE 22, 2020

It’s the battle against fraud that can be lost right at the beginning. There’s increased urgency on the part of financial institutions (FIs) to spend more time and money on battling fraud at the point of onboarding, especially as card-not-present transactions surge in the lingering wake of the coronavirus. alone topped $10.2

Fraud 193

Fraud Cards Risk Management Customer Experience 193

PYMNTS

JUNE 22, 2017

Fighting fraud is a lot harder online, and a lot harder for merchants and consumers, as card-not-present transactions become the preferred method of malfeasance. In one recent announcement, payments provider TSYS and real-time learning technology platform Featurespace said they were joining forces to offer fraud prevention tools.

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Fraud Tools Cards Online 162

PYMNTS

JANUARY 14, 2021

Companies can use the technology to tailor communications and customize products and services to specific geographic areas, giving it the ability to increase sales, reduce losses to nearby competitors and help maintain market share. There are numerous benefits to the adoption of geocoding. Gaining Consumer Trust.

Analytics 170

Analytics Data Study Millennials 170

PYMNTS

FEBRUARY 11, 2020

PSCU has prevented over $277 million in would-be fraud last year, 30 percent more than in 2018. PSCU said it regularly invests in industry-leading cyberattack prevention tools – like machine learning (ML) and data analytics – across all channels. Pindrop blocks attempted contact center fraud and works to protect accounts from loss.

Fraud 140

Fraud Tools Analytics Analysis 140

PYMNTS

NOVEMBER 16, 2020

Fraud targeting digital banking users has been around as long as digital banking itself, but it has recently become more prevalent. The pandemic is exacerbating the problem, with a study finding that 22 percent of Americans were the targets of pandemic-related fraud attempts as of March. APP fraud is not a new occurrence.

Fraud 182

Fraud Security Strategy Digital Banking 182

South State Correspondent

MAY 9, 2022

The most significant problem with bank innovation is that bankers see or hear about a sexy piece of technology at a conference or at another bank and then acquire it. The new piece of technology ends up solving a known problem but, in the process, creates more problems, and risks, than it solves.

Technology 195

Technology Customer Experience Data Training 195

PYMNTS

SEPTEMBER 15, 2020

Such immense effort is expended fighting determined fraudsters that it’s easy to minimize friendly fraud — a frustrating state of affairs that leaves financial institutions (FIs) and merchants on the hook for purchases disowned, justly or otherwise, by legitimate cardholders. Spotting The Fakers.

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Fraud Retail Tools Analytics 156

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.

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Fraud Analytics Compliance System 131

PYMNTS

JUNE 11, 2020

Fraud detection software platform NS8 has closed a Series A funding round for $123 million, led by Lightspeed Venture Partners , a press release states. The software utilizes real-time data analytics and real-time scoring to help merchants snuff out fraud and deliver seamless transactions, the press release says.

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Fraud Software Analytics Meeting 150