PYMNTS

MAY 10, 2019

In a new PYMNTS interview, David Barnhardt, executive vice president of product at GIACT , which offers fraud detection and account validation tools, talks about an upcoming change by NACHA, national administrator of the ACH network, to make internet-initiated debit transactions (WEB debits) safer and more seamless. New NACHA Rule.

Payments 178

Payments Fraud Security Customer Experience 178

PYMNTS

OCTOBER 31, 2018

As noted by Nexus, about 33 percent of firms said they will use blockchain to combat fraud, while 11 percent will use blockchain to help cut costs, and 10 percent see blockchain as useful in supply chain management. As reported in July via white paper, the U.K.

blockchain 201

blockchain Fraud Data Study 201

Abrigo

JUNE 23, 2020

We understand the trust you put in us when you use our BSA/AML and fraud software and we make the same investment in your program’s success. From day one with Abrigo, you will have a dedicated Client Success Manager (CSM) who will serve as your advocate within the company. Fraud Prevention. Fraud Trends. Fraud Prevention.

Software 195

Software Community Resources Fraud 195

PYMNTS

MAY 3, 2016

In its latest white paper, titled “Omni-Channel Payments for Merchants: Myth or Reality?,” Regulation is a thorny issue for the industry – for some, a necessary intervention while, for others, often outdated, hard to implement in a timely manner and causing unnecessary friction in the payments value chain,” the white paper stated.

Fraud 100

Fraud Retail Survey Compliance 100

FICO

NOVEMBER 24, 2020

Traditionally, credit application fraud has been perpetrated in two ways: First-party fraud – where the criminal uses their own identity to commit fraud, even if they obscure some details in order to prevent detection. Where fraud data sharing is in place, their scope may well be limited across multiple organizations.

Fraud 98

Fraud Data US Groups 98

PYMNTS

AUGUST 18, 2017

Between account takeovers, business logic abuse, loyalty and reward points fraud and other cybersecurity attack methods, companies are not only suffering financial damages but brand image damages too. Here are a few of the top things every eTailer should know about fraud in 2017. Card Not Present Fraud Is A Big Threat.

Security 131

Security Fraud Analytics Tools 131

FICO

OCTOBER 29, 2018

The recent fascination with artificial intelligence and machine learning has made some of us ( naturally intelligent) humans confused about the role that these technologies play in the broader field of fraud analytics. Fraud analytics is an umbrella term covering a lot of technologies — let’s look at the two big categories.

Analytics 63

Analytics Fraud Big Data Data 63

FICO

OCTOBER 28, 2018

The recent fascination with artificial intelligence and machine learning has made some of us ( naturally intelligent) humans confused about the role that these technologies play in the broader field of fraud analytics. In the fraud management space, BI can be thought of as a descriptive performance reporter. Source: FICO Blog.

Analytics 52

Analytics Fraud Big Data Data 52

FICO

AUGUST 1, 2018

Luckily, Decision Management (DM) technology has been invented and has come a long way since AC/DC released this epic anthem in 1975. With solutions like the FICO Decision Management Platform (DMP), the journey from novice to rockstar can be faster than a speed metal riff. trillion. Merchant Onboarding: The need for speed.

Management 58

Management DC Examples Customer Experience 58

FICO

JULY 30, 2019

Before getting started, CSPs should determine who “own”’ and is accountable for subscription fraud. Is it the fraud team? Also, is there a clear and agreed fraud risk appetite that has exec sponsorship and is agreed by all stakeholders? In part, this is due to the ever-changing nature of fraud. Credit risk?

Fraud 52

Fraud How To Analytics Analysis 52

FICO

JUNE 29, 2017

FICO has just released an interactive infographic on European card fraud trends since 2006, showing that card fraud in the 19 countries studied has hit a new high of €1.8 In the UK, card fraud also a hit a new high in 2016, £618 million, though the rise was less than the rise from 2014 to 2015. CNP Fraud Takes Over.

Fraud 55

Fraud Cards Analytics Trends 55

FICO

JULY 21, 2020

As my colleague TJ Horan says in his post , the worlds of fraud and compliance are moving closer together. The objectives of the fraud department are different from those of the compliance team and traditionally they have come at the thorny issue of accurately identifying and understanding their customers from different angles.

Compliance 52

Compliance Fraud Customer Experience Meeting 52

FICO

MAY 19, 2021

What Is First-Party Fraud? From banks to telcos to debt collection agencies, what looks like unrecoverable bad debt may in fact be first-party fraud. For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. by Matt Cox.

Fraud 52

Fraud Groups Analytics Compliance 52

FICO

NOVEMBER 7, 2018

Health care payers use a variety of tools and solutions to fight fraud, waste and abuse in their fee-for-service healthcare claims. But how can they help reduce your losses to health care fraud, waste and abuse? For more information, see our white paper on Uncovering More Insurance Fraud with Analytics.

Fraud 53

Fraud Analytics Payments System 53

FICO

JULY 31, 2019

Fraud management and AML compliance are both about tackling financial crime, but often they are managed by different teams, each with their own processes and technology. On the surface there are clearly reasons why the fraud and AML compliance departments should work together. The likely benefits of convergence.

Fraud 40

Fraud Compliance Study Management 40

FICO

NOVEMBER 21, 2022

First-Party Fraud Must Be Stopped Across the Customer Lifecycle. While those in the financial services industry would term this first-party fraud, it is evident that a significant minority of people don’t think of such behaviour as unacceptable. FICO Admin. Tue, 07/02/2019 - 02:45. by Sarah Rutherford. expand_less Back To Top.

Fraud 52

Fraud Survey Data Analysis 52

FICO

JULY 2, 2018

Payment fraud is an ideal use case for machine learning and artificial intelligence (AI), and has a long track record of successful use. Recently, however, there has been so much hype around the use of AI and machine learning in fraud detection that it has been difficult for many to distinguish myth from reality.

Fraud 52

Fraud Analytics Training Strategy 52

FICO

JULY 10, 2018

This is the second in my series on five keys to using AI and machine learning in fraud detection. A robust enterprise fraud solution combines a range of analytic models and profiles, which contain the details necessary to understand evolving transaction patterns in real time. Key 2 is behavioral analytics.

Analytics 40

Analytics Fraud Strategy Examples 40

FICO

MAY 19, 2021

For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. Perhaps surprisingly, consumers sometimes use their own personal information to commit fraud. Both of these crimes are first-party fraud.

Fraud 52

Fraud Groups Analytics Compliance 52

PYMNTS

SEPTEMBER 19, 2017

Eighty percent of treasurers surveyed identified cash management surveys as the top area under review, followed by liquidity solutions, payables, FX and commercial lending. Regardless of FinTechs and the solutions banks choose to deploy, Finastra and Celent emphasized the importance of integration.

Innovation 108

Innovation Survey blockchain Lending 108

FICO

NOVEMBER 5, 2018

Countries that already have real-time payment schemes have had to manage the related crime. The ‘ Modernization Target State’ lays out Payments Canada’s vision for the future and it does talk about fraud prevention. The post Will Real-Time Rails in Canada Bring More Fraud? appeared first on FICO.

Fraud 40

Fraud Risk Management Payments Strategy 40

FICO

OCTOBER 12, 2016

Globally, the European ATM Security Team reported a 19% increase in ATM-related fraud attacks from 2014 to 2015. Earlier this year, FICO reported a six-fold increase in US ATM fraud from 2014 to 2015. To learn more about this technology, see our white paper Putting a Wide-Angle Lens on Fraud. What else can we do?

ATM 40

ATM Fraud US Cards 40

PYMNTS

NOVEMBER 30, 2017

The German financial institution (FI) recently released a white paper urging banks and account servicing payment service providers (ASPSPs) to implement PSD2-related changes and reforms within their institution. It acknowledges several hurdles FIs continue to face in that effort. 12, 2018, deadline for implementation passes.

Guidelines 109

Guidelines Regulation Compliance Data 109

FICO

JULY 3, 2018

Payment fraud is an ideal use case for machine learning and artificial intelligence (AI), and has a long track record of successful use. Recently, however, there has been so much hype around the use of AI and machine learning in fraud detection that it has been difficult for many to distinguish myth from reality.

Fraud 45

Fraud Analytics Training Strategy 45

FICO

APRIL 8, 2020

Increased use of biometrics to verify identity is likely to continue – so what steps need to be in place in order manage identity using biometrics? If the device profile has also changed, you know there is a potential SIM swap fraud and prevent access or invoke step-up authentication. Identity validation. Authentication.

Management 52

Management Examples Meeting Security 52

Gonzobanker

OCTOBER 16, 2017

Even though the company had made a significant ($20 million+) investment in its fraud suite, the total package just wasn’t enough to compete. There had been a lack of innovation on the CO-OP platform as well as a significant fraud event on the IVR. A flurry of fraud related products rolled out in 2017.

Omaha 76

Omaha Cards Fraud Innovation 76

PYMNTS

APRIL 30, 2018

IBM’s management team described its blockchain developer toolkit as another way to make it easier for innovators to “stand up” blockchain networks. A month later, a new management team was put in place to rebuild the business. Some 750 such networks , they said, were provisioned in the first two weeks of that launch.

Fintech 183

Fintech blockchain Lending Digital Banking 183

NCR

JULY 12, 2017

When it comes to fraud detection and prevention, for example, big data analytics tools can offer banks much better, real-time insight into potentially fraudulent transactions. Such investments must also be reinforced with new policies, training, and change management initiatives.

Data 80

Data Analytics Big Data Community Bank 80

FICO

SEPTEMBER 12, 2018

While AI has been used for more than 25 years in credit fraud detection , few people outside the banking sphere were aware of this. And it’s not just fraud detection people are asking about — they also want to know about other uses of AI and machine learning for financial crime protection, including in cybersecurity and money laundering.

Video 45

Video Fraud Risk Management Compliance 45

Insights on Business

FEBRUARY 11, 2019

In the beginning of the cloud computing era, “private clouds” promised the scalability, flexibility and manageability of public clouds, combined with the security and control of on-premises data center environments. But some early private clouds, in fact, were neither private nor clouds.

Compliance 87

Compliance Security Big Data Analytics 87

FICO

OCTOBER 4, 2017

So it’s not surprising to find machine learning being advocated as the answer for payment service providers looking to manage fraud in the world of PSD2. Why does PSD2 make machine learning more important than ever in the fight against fraud? Open Banking Will Disrupt Your Fraud Detection.

Fraud 49

Fraud Data Management Tools 49

FICO

SEPTEMBER 19, 2018

While AI has been used for more than 25 years in credit fraud detection , few people outside the banking sphere were aware of this. And it’s not just fraud detection people are asking about — they also want to know about other uses of AI and machine learning for financial crime protection, including in cybersecurity and money laundering.

Video 40

Video Fraud Risk Management Compliance 40

FICO

DECEMBER 11, 2017

Instead of suggesting a customer may be inclined to buy something, a prescriptive model suggests the offer, the price, and, if implemented as part of a larger decision management strategy, delivers that offer in real time via the preferred channel (a web offer, email, via a mobile app, or through a call center or retail kiosk).

Analytics 53

Analytics Fraud Data Management 53

FICO

AUGUST 15, 2018

FICO machine learning capabilities have been around for more than 25 years, initially in fraud and credit risk, and extending to other operational and customer lifecycle use cases. White Paper: Why a Decision-First Approach Is Critical for Competitive Advantage. White Paper: 12 Secrets of Business Rules Success.

Analytics 53

Analytics Analysis Data Operations 53

Gonzobanker

DECEMBER 14, 2023

Meanwhile, technology changes continued at a breakneck pace, with generative AI the biggest topic around management tables. Importantly, Huntington has continued to focus on digital investments and its strong legacy of product management to remain a progressive regional bank. Nobody is quite sure which side this seesaw will land on.

Fintech 191

Fintech Community Regional Technology 191

FICO

JUNE 22, 2017

At the time, Madoff had been running an elaborate Ponzi scheme through the wealth management arm of his business that reached $65 million by the time of his arrest in 2008, deliberately hiding the money intricately within the financial system. For more information, see our white paper on Advancing AML Compliance with Artificial Intelligence.

Tools 55

Tools Compliance Innovation social media 55

FICO

MARCH 24, 2021

In today’s world, given the various alternative data resources available , the challenge for lenders becomes managing a diverse set of data, especially when making decisions on people who are new to credit. For more information, see our white paper on “Can Alternative Data Expand Credit Access?”.

Data 59

Data social media Resources Examples 59