PYMNTS

JANUARY 27, 2021

Banks’ use of such innovations is predicted to expand, too, with 60 percent of FIs saying they aim to gain customers and improve customer experiences using digital channels. This increased digital presence also brings a greater risk of digital fraud, however. The Fraud Threats Facing Digital-First Banks.

Security 213

Security Innovation Fraud Study 213

PYMNTS

OCTOBER 14, 2020

Spend management was the focus of innovation in the commercial card space this week thanks to partnerships and investments in firms aiming to help companies keep track of expenses. Monitoring fuel purchases through both cost and location is a valuable tool for fleet managers to prevent fraud and protect margins.”.

Management 238

Management Cards Innovation Fraud 238

Abrigo

MAY 8, 2024

You might also like this webinar, "The check's in the mail: Understanding and preventing check fraud." WATCH Takeaway 1 Understanding generative AI and how peers are using AI and genAI helps financial institution leaders and management vet the technology and related risks. This short be 2 lines max.

Examples 222

Examples Fraud Resources Risk Management 222

PYMNTS

NOVEMBER 20, 2019

This rampant availability of users’ data makes it easier for bad actors to wreak havoc and commit fraud. Many FIs have looked to mitigate this growing threat by deploying advanced learning tools such as artificial intelligence (AI) and ML, but fraudsters are quite familiar with them. It is estimated that more than 4.1

Fraud 117

Fraud Data Management Analytics 117

PYMNTS

JUNE 4, 2019

In the old days, forged checks were the biggest problems that bank fraud departments had to manage. It is no wonder that fraud prevention is one of the problem areas that FIs hope artificial intelligence (AI) can help resolve. Yet, few FIs leverage this technology in their anti-fraud efforts — only 5.5

Fraud 195

Fraud System Study Comparison 195

PYMNTS

APRIL 10, 2019

Reports in Virtual Strategy Magazine this week said InFactor, developed by the XinFin-powered TradeFinex Dev team, is connecting the factoring tool to QuickBooks so users can automatically obtain financing on their unpaid invoices. Factoring and the broader trade finance space are popular use cases for blockchain innovations.

blockchain 193

blockchain Tools Fraud Data 193

PYMNTS

SEPTEMBER 18, 2019

Mobile and online banking providers have been upping their fraud protection measures over the last decade, making it more difficult for bad actors to rely on some of the schemes that previously worked in such channels. Banks are dealing with rapid rises in fraud schemes such as ATOs, synthetic identity fraud and account opening fraud.

Fraud 195

Fraud US Tools Strategy 195

PYMNTS

SEPTEMBER 10, 2019

Canada’s Everlink Payment Services , a payment solution and service provider for banks, credit unions and small businesses, is strengthening its fraud controls for clients through a collaboration with ACI Worldwide. In a press release Monday (Sept.

Fraud 122

Fraud Risk Management Cards Tools 122

PYMNTS

JULY 2, 2020

Although CU members want innovation in member loyalty and rewards, most credit unions are not delivering these programs up to the desired standards. Credit union members’ high expectations when it comes to loyalty innovation do not necessarily make or break their banking relationships. Loyalty Innovation Strategies .

Innovation 155

Innovation Branding Tools Innovation Strategies 155

PYMNTS

DECEMBER 9, 2020

Managing credit risk used to be a reactive process. Bank customers would fall behind on their payments, and their banks might react by imposing fees or having a case manager work with them to bring their accounts back up to speed. In severe cases, banks might have to take the drastic measure of closing accounts altogether.

How To 245

How To Management Report Strategy 245

PYMNTS

OCTOBER 14, 2019

Money laundering and similar forms of fraud have become more concerning for FIs as reports of cybercrime circulate globally. dollar as their currency of choice on the black market, which means American banks must alter their anti-fraud and AML strategies — especially as regulatory fragmentation divides the U.S.

Strategy 109

Strategy Innovation Fraud Regulation 109

PYMNTS

SEPTEMBER 2, 2020

Growth equity firm TCV has acquired spend management tech firm Oversight , according to a press release emailed to PYMNTS, and will help Oversight expand its product innovation for enterprise risk management solutions. Oversight CEO Terrence McCrossan said the acquisition by TCV would be a boon for his company.

Management 151

Management Risk Management Fraud Innovation 151

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.

Fraud 196

Fraud Digital Banking Delaware Tools 196

PYMNTS

JUNE 11, 2019

Payment fraud is an ideal use case for machine learning and artificial intelligence (AI), and has been used by financial institutions (FIs) to great effect. In fact, a typical consumer who gets a fraud alert might not even know there was an algorithm working behind the scenes that spotted suspicious activity. Most FIs (63.6

Fraud 140

Fraud System Innovation Data 140

PYMNTS

NOVEMBER 19, 2020

This shift has prompted many eateries to rely on emerging tools like artificial intelligence (AI) to better manage various aspects of their operations as consumers transact remotely. The technology is also credited with helping them meet diners’ demands for seamless purchasing experiences as well as enabling them to battle fraud. .

Boston 200

Boston Fraud Meeting Mobile 200

PYMNTS

NOVEMBER 23, 2020

For purposes of this analogy, the “basement” into which bad mice are creeping is most likely your legacy payroll/expense management software and its possibly compromised connections. While technological advancements have revolutionized many aspects of operations, payroll and expense management are not [among] them.

System 165

System Management Tools Cards 165

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. A Proactive Approach To Friendly Fraud. Friendly fraud often develops around online promotions at restaurants.

Fraud 177

Fraud Mobile social media Customer Experience 177

PYMNTS

MAY 28, 2020

This means FIs must be able to ferret out and defend against an ever-more complex array of attacks, and they deploy advanced fraud detection strategies and designate additional resources to keep themselves and their customers safe. Staying ahead of fraud requires constant innovation. Red Flag Behaviors.

Fraud 139

Fraud Mobile Tools Missouri 139

PYMNTS

DECEMBER 9, 2020

Some firms have better adjusted to new digital tendencies than others, especially when it comes to keeping track of B2B payments and spend management. Many of the tools that have traditionally been used to track payments and manage spending have now fallen out of step with what businesses currently need in today’s digital environment.

Cards 155

Cards Management Tools Payments 155

FICO

FEBRUARY 23, 2022

When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money.

Fraud 98

Fraud Survey Customer Experience Retail 98

Independent Banker

APRIL 30, 2022

Community bankers are embracing innovation like never before—with impressive results. But with so much emphasis placed on customer-facing products and technologies, innovating back-office operations can fall to the bottom of the priority list. As bankers, we learn this during our first day in management training.

Innovation 91

Innovation Community Bank New York City Community 91

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.”

Conference 195

Conference Payments Fraud Data 195

South State Correspondent

NOVEMBER 9, 2023

Enterprise Continuous Threat Exposure Management While many banks are advanced in managing their ongoing exposure management, the pace of change is causing banks to rethink their cyber defense. The underlying point here is that banks have traditionally used fraud data on an ad hoc basis.

Trends 195

Trends Technology Fraud Data 195

Abrigo

DECEMBER 10, 2019

Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. An increase in financial crime and fraud against the elderly is expected to continue to climb as the baby boom population (those born before 1964) age. The under-reported and growing crime.

Fraud 284

Fraud Study United States Training 284

PYMNTS

APRIL 30, 2020

This week’s examination of the latest in payments rails innovation finds financial service providers innovating on top of existing rails to address the friction of ACH, checks and other bank transfer infrastructure. In a statement, Invoiced said the tool enables physical checks “to be digitized and applied automatically.”

Innovation 184

Innovation Payments blockchain System 184

PYMNTS

MARCH 19, 2018

These tactics cast a wide net of fraud over the fleet card industry – from issuers and acquirers to fleet managers, employers and employees themselves. Goldspink recently told PYMNTS that fleet card-related fraud goes far beyond skimmers at the POS.

Fraud 153

Fraud Cards eBook Data 153

PYMNTS

SEPTEMBER 24, 2019

That sentiment was underscored earlier this month when South Korea said it would delist a number of altcoins from an exchange over privacy concerns – namely, the anonymous nature of the transactions are at odds with the goals of the Financial Action Task Force (FATF), which include combating money laundering and fraud.

Innovation 182

Innovation Fraud Technology Security 182

PYMNTS

SEPTEMBER 18, 2020

We have deep dives on digital onboarding at universities, subscriptions and quick-service restaurant (QSR) friendly fraud. The organization, which is based in Europe, indicated that the effort will offer transaction management services. What Innovators Can Learn from Netflix . Helping QSRs Fight Food Fraud. Top News .

Fraud 141

Fraud Apple California Innovation 141

PYMNTS

JUNE 24, 2020

With corporate travel still on pause, commercial card innovation has taken a different direction. It’s a tool that not only expands availability of capital to businesses, but can support the payment of supplier invoices to vendors that don’t normally accept cards. Today, due to the pandemic, those cards are going unused.

Cards 131

Cards Innovation Tools Capital 131

PYMNTS

OCTOBER 16, 2020

Harnessing consumers’ digital information is critical to the success of any business, and data analytics and artificial intelligence (AI) can be especially powerful tools. This revelation prompted the company to launch several innovations, including digital menus that change based on real-time data analysis.

Analytics 273

Analytics Data Fraud Tools 273

PYMNTS

AUGUST 5, 2019

International Business Machines Corp (IBM) and blockchain consultancy Chainyard have announced a new blockchain network for supply chain management designed to improve supplier validation, onboarding and life cycle information management, IBM said in a press release on Aug. 5 (Monday).

blockchain 122

blockchain Management Tools Taxes 122

PYMNTS

JULY 3, 2019

In a press release issued Tuesday (July 2), Palmarius Advisors announced that its AP solution provides automated reconciliation and increased security to mitigate the risk of fraud while simplifying accounts payable transactions. Our clients love how they can now generate additional revenue every time they pay their suppliers or vendors.”.

Tools 100

Tools Fraud Analysis Resources 100

South State Correspondent

JUNE 14, 2024

Most mobile and online banking platforms allow little innovation and customization. Because banks usually must bring together different platforms, the customer experience suffers, and costs are increased for managing multiple platforms. In this manner, banks can manage composable experiences creating ecosystems (i.e.,

Digital Banking 195

Digital Banking Customer Experience Meeting Analytics 195

South State Correspondent

JANUARY 23, 2023

In three months, it has become the primary tool of many bankers, helping make banks more efficient across the organization. Our innovation working group, called Spark, has been playing with the tool for the past several months, and this article details how we use it to jump our productivity by 20%.

Tools 370

Tools Examples Analysis Data 370

South State Correspondent

SEPTEMBER 13, 2023

Most banks ignore instant payments or are still worried about fraud and research. 33% are still made via check that contains more than $8B of fraud per year. Check fraud is up some 84% and is only going to go up. Now, the payer doesn’t have to take the time to initiate the transaction, making payment more manageable.

Payments 221

Payments Fraud Data Taxes 221

PYMNTS

SEPTEMBER 18, 2020

Nacha , the nonprofit that manages the movement of trillions of dollars in electronic payments, announced the debut of voice payments and cybersecurity resources on Thursday (Sept. The steward of the automated clearing house (ACH), a computer-based electronic network for processing transactions, managed 24.7

Payments 220

Payments Exercises Resources Fraud 220

PYMNTS

JULY 9, 2019

Corporate cash inflows and outflows present ample opportunity for friction and disruption — and, as a result, ample opportunity for innovation. In a recent survey by Deloitte , half of companies said they lacked a defined ownership of intercompany processes, yielding a lack of visibility and management into key processes and activities.

Management 150

Management Regulation Data Innovation 150