PYMNTS

DECEMBER 28, 2020

Nacha is issuing a warning to accounts payable professionals with regards to the rising threat of fraud. Further, Nacha said, the survey revealed AP professionals are facing increasing fraud attempts that target AP processes specifically. But accounts payable is far from the only back-office financial workflow at risk of fraud.

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Fraud Payments Survey Lending 291

Bank Innovation

MARCH 22, 2018

UK-based fintech Revolut’s newest product is a “disposable” virtual card, a product that was designed with fraud protection in mind, the fintech announced today. The card, which sits inside Revolut’s mobile app, wipes a user’s details and resets them after every payment.

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Fraud Cards Payments Fintech 277

Bank Innovation

FEBRUARY 14, 2018

The island nation of Mauritius will now have a sovereign fund dedicated to investment in fintech. According to reports, high-level Fintech and Innovation-driven Financial Services Regulatory Committee panel met last week to discuss the possibility of the fund that would focus on, among other things, fraud, security, and blockchain.

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National Fintech blockchain Fraud 276

Chris Skinner

FEBRUARY 18, 2018

Dogecoin was … The post Why bitcoin is not a ‘fraud’ or ‘bubble’, but something you should take seriously appeared first on Chris Skinner's blog. There are even some coins that were created as a joke that are getting significant investments, such as Dogecoin.

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Bitcoin Fraud cryptocurrency blockchain 393

PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. Unlike the crypto markets, Wingert said the banking and payments industries continue to be slow to adapt to the challenges of KYC and fraud prevention. In fact, a recent GeoGuard survey found that U.S.

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PYMNTS

SEPTEMBER 12, 2019

FinTechs could face these same financial pains as regulators increasingly demand that they follow the compliance rules to which FIs must adhere. The People’s Bank of China announced in March that it plans to create rules for regulating and securing the FinTech sector, for example. . A report found that the U.S. imposed a full $23.52

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Fraud Fintech Compliance Regulation 189

Payments Dive

DECEMBER 2, 2022

Fintechs like Womply and Blueacorn provided the “paths of least resistance” for fraudsters bilking the federal Paycheck Protection Program, a House subcommittee said Thursday.

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Fintech Fraud 222

Abrigo

JANUARY 24, 2024

Prevent fraud when adopting FedNow Credit unions can prevent fraud as they connect to FedNow. Use this guide to understand available tools and the steps AML and fraud teams should take. You might also like this FedNow implementation guide with details on appropriate AML/CFT and fraud considerations.

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Fraud Payments Software Policies 221

PYMNTS

MARCH 6, 2020

FinTechs are helping banks focus on the customer experience through accounts payable (AP) automation. These financial institutions are providing lines of credit, and he says it’s the company’s job as a leader in FinTech to provide banks with the products and solutions that are going to help them advance their case with the customer.

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Customer Experience Fintech United States Fraud 251

Payments Dive

JULY 25, 2024

The fintech investigates each fraud claim independently of other cases, and takes such claims “incredibly seriously,” a spokesperson for the company said.

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Bank Innovation

FEBRUARY 2, 2018

In Denmark, the advent of digital banking also saw almost a 60% jump in card fraud, Bloomberg reported yesterday. Danish credit card fraud significantly increased in 2016, Bloomberg said, and reports of online fraud in the country have increased 300% from reports in 2009. […].

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Fraud Digital Banking Cards Online 246

PYMNTS

JULY 27, 2020

The FinTech on Saturday (July 25) confirmed the data breach after reports emerged that details involving as many as 7.5 According to the FinTech, the “malicious party” gained access to user passwords “stored in hashed form using bcrypt , an industry-recognized hashing algorithm.”.

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Data Fintech Report Security 246

PYMNTS

JULY 17, 2020

FinTech funding had already seen a dip in Q1 this year, but the pandemic may be further suppressing investor appetite. A new report provided by Buy Shares found global FinTech funding was less than $4 billion during Q2, compared to about $5.8 billion raised in the Q1, according to Forrester. Privacy.com. ’s Ravelin secured $20.6

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PYMNTS

OCTOBER 8, 2020

The growing cost of online fraud – and finding ways to detect it – has long been a costly concern of financial institutions (FIs). If you beat the geolocation fraud, you beat all the fraud,” Briggs said. He said banks and payment processors already have this technology on hand – they’re just not using it correctly. .

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Fraud Seattle Security Technology 266

Bank Innovation

SEPTEMBER 27, 2017

Fintechs are partnering with banks, banks are using blockchain technology, artificial intelligence, and cryptocurrency and financial regulation is still undergoing massive changes. 2017 has been a […].

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Innovation cryptocurrency blockchain Fraud 360

Bank Innovation

DECEMBER 11, 2017

EXCLUSIVE- Blockchain technology and digital loans will continue to grow in 2018 as banks continue to work on their cybersecurity in the coming year, software provider Mitek predicts. It’s just logical that given the extent of recent data breaches, that we’re going to see more of the same. It will continue to accelerate” Sarah Clark, […].

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blockchain Fraud Software Fintech 314

PYMNTS

NOVEMBER 25, 2018

Venmo , the digital money transfer service owned by PayPal , suffered payments fraud earlier in 2018 that played a role in the company posting losses that were higher than forecasted for the first quarter of this year. Keeping hackers at bay has long been a problem for banks and FinTechs.

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Fraud Payments Report Branding 222

Perficient

NOVEMBER 30, 2022

Our Payments Practice recently had the opportunity to represent Perficient at the 2022 Real-time Payments & Fraud Management Summit held in New York City. . The conference was attended by several Financial Institutions, Service Providers, Fintechs, and Industry Regulators. Plan and adapt or chase and catch up. .

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Fraud Management Payments New York City 275

PYMNTS

AUGUST 14, 2020

There’s been no shortage of big payments and FinTech announcements over the past few days, such as Apple ’s bundle bet, Goldman Sachs ’ move to bid on the General Motors credit card or Square ’s decision to test small-dollar, short-term loans. Birnbaum noted that many FinTechs benefited from facilitating the U.S.

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PYMNTS

JUNE 17, 2019

Sometimes there are two approaches to the same problem in FinTech: EMVCo’s recently released EMV Secure Remote Commerce (SRC) Specification version 1.0 These standards aim to reduce friction and fraud at checkout such as people typing in bad credit card numbers (as well as typing in general, which slows down the checkout process).

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Fintech Fraud Cards Security 214

PYMNTS

SEPTEMBER 10, 2019

Companies therefore must either invest in teams of AML specialists or in fraud-fighting technologies. . The September AML/KYC Tracker examines the latest fraud challenges and efforts to ensure tight security and compliance. . This is especially true given rising rates of mobile fraud attempts that put customers especially on guard.

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Bank Innovation

MARCH 2, 2018

EXCLUSIVE - My colleague JJ Hornblass recently commented on the ACH fraud that took place at our company, and how one of its most striking aspects was the casual way in which the bank reacted to it. This casualness may be due to ACH fraud not being anything new to the industry. What is new.Read More.

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Payments Dive

OCTOBER 31, 2022

Here’s how fintech innovators can protect customer data. Cybercrime countermeasures are essential to protecting private banking data.

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Industry Fraud Payments Innovation 244

PYMNTS

JUNE 24, 2020

Against a backdrop where CNP transactions are up 80 percent, a success rate of only a few percentage points can yield a lucrative fraud scheme. CNP fraud, Nolte said, has become a numbers game. It’s scalable and can be done from anywhere — and you can buy things from anywhere on the planet,” he said.

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Fraud Security Cards Course 262

Perficient

FEBRUARY 12, 2025

Additionally, AIs capacity for real-time transaction monitoring and fraud prevention will help companies stay ahead of evolving regulatory demands. The fintech industry, once celebrated for its agility and innovation, now faces a future shaped by heightened regulation.

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Trends Payments Compliance blockchain 221

PYMNTS

SEPTEMBER 17, 2019

Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. Fraudsters made off with account numbers and other personal details, which could later be used for different synthetic identity fraud or related schemes. digital bank Monzo.

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PYMNTS

SEPTEMBER 2, 2020

Checkbook has joined Visa 's FinTech Fast Track program and launched Virtual Cards , a program that will expand the reach of real-time payments, according to a press release. Virtual Cards were created by Checkbook to reduce the fear of losing a wallet or being a target of credit fraud, according to the release.

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Cards Fintech California Fraud 213

PYMNTS

SEPTEMBER 15, 2020

In an interview with Karen Webster, Vilash Poovala , founder and CEO of FinTech Oyster , said online financial platforms, powered by open banking, can serve as alternatives for business banking in a country where business banking seems an afterthought. The world needs a FinTech operating system.”.

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PYMNTS

MAY 23, 2019

To that end, Jessica Moran, general manager of Paymode-X Business Solutions at Bottomline Technologies , noted the continued (and accelerating) collaboration between banks and FinTech firms. I cannot remember the last time we had a conversation with a corporate who didn’t say, ‘Oh yeah, you know, I experienced check fraud.’

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Fintech Fraud Technology Innovation 191

PYMNTS

SEPTEMBER 8, 2020

While consumer onboarding for banks and FinTechs has seen immense innovation in recent years, the same cannot be said for business customers, according to Kyle Mack, CEO of Middesk. 8), the company announced that it has joined Visa's Fintech Fast Track Program to help emerging FinTechs optimize their own business identity strategies.

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PYMNTS

SEPTEMBER 24, 2019

There are also a lot of illegal activities involved with wire, credit card and automated clearing house (ACH) fraud. “By

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Fraud Cards Fintech Compliance 178

Perficient

MARCH 17, 2025

AI-powered chatbots can handle routine inquiries, freeing human agents for complex issues, while AI-driven algorithms enhance fraud detection and risk management. First, they should form strategic partnerships with fintech companies and non-financial platforms to extend their reach and integrate their services effectively.

Trends 221

Trends Analytics Compliance Strategy 221

PYMNTS

MARCH 20, 2020

Banking technology FinTech Finastra was hit with a security breach on Friday (March 20), and was forced to shutter key systems and send employees home, according to a report by KrebsonSecurity. Two sources forwarded internal notices about the outage.

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Fintech Security America Course 276

Bank Innovation

SEPTEMBER 21, 2017

Fintechs have been exploring this idea for quite some time now, whether it be through fraud management, or using AI to execute trades across global equities algorithms business. EXCLUSIVE — Will the use of artificial intelligence push banking customers to better personal finance and saving habits?

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Fraud Fintech Management Online 301

PYMNTS

NOVEMBER 17, 2020

Panelists included Schalk Nolte , CEO of Entersekt ; Jen Martin , head of Fraud Operations at KeyBank ; and Karen Boyer, Fraud Intelligence Director, Financial Crimes at People’s United Bank. Friction in financial services, just a few years ago, was a matter of banks competing with FinTechs, with real-time payments.

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Fraud Mobile social media Security 195

PYMNTS

JULY 21, 2020

Compromised credit card fraud increased 212 percent year over year in 2019, while customer credential leaks increased 129 percent during the same period. Credit card fraud is just one of many techniques that fraudsters leverage to scam FIs and their customers, but it is on the rise amid the pandemic.

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Fraud Industry United States Cards 167

PYMNTS

JULY 2, 2020

Children appear especially focused on this problem, which inspired a FinTech to offer biodegradable credit cards designed for use by minors. How FIs Adapt Fraud Detection During Times of Behavioral Upheaval. Find more about these and the rest of the latest headlines in the Tracker. Find the full story in the Tracker.

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