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Reality?,” Regulation is a thorny issue for the industry – for some, a necessary intervention while, for others, often outdated, hard to implement in a timely manner and causing unnecessary friction in the payments value chain.”

Fraud 100

Fraud Retail Survey Compliance 100

FICO

JUNE 26, 2018

But the global adoption of such schemes, alongside the problems suffered by early adopters, has turned the focus to real-time payments fraud. As discussed in my earlier post , real-time payments make multiple types of fraud more attractive and enable the fast movement and laundering of criminal proceeds. Who Is Liable?

Fraud 63

Fraud Payments Regulation Customer Experience 63

PYMNTS

NOVEMBER 30, 2017

The EU is also gearing up for additional, overlapping regulations that could confuse financial services players regarding how (and when) to become PSD2-compliant. One of those challenges is ongoing discussions over some guidelines within the regulation, Deutsche Bank noted, particularly those pertaining to fraud reporting and security.

Guidelines 109

Guidelines Regulation Data Compliance 109

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

NOVEMBER 5, 2018

The ‘ Modernization Target State’ lays out Payments Canada’s vision for the future and it does talk about fraud prevention. The references are vague, however: “centralized fraud and risk management capabilities” are referenced but the nature of this protection is not defined. The post Will Real-Time Rails in Canada Bring More Fraud?

Fraud 40

Fraud Risk Management Payments Strategy 40

CFPB Monitor

APRIL 7, 2020

Roddy discussed the emergency debt collection regulation issued by the Massachusetts AG and the possibility of state UDAP claims based on collection activities during the crisis.

Massachusetts 78

Massachusetts Compliance Regulation Operations 78

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. It’s also true that fraudsters do not operate in siloes when they transfer the money from their frauds into cash by laundering it through a network of money mules.

Fraud 40

Fraud Compliance Study Management 40

Insights on Business

FEBRUARY 11, 2019

These regulatory and legal restrictions and public cloud deployment reluctance are especially true for the financial industry and, probably more so, within the financial crimes and compliance space, where highly-sensitive, entity-related information is stored and continuously examined in highly-regulated processes.

Compliance 87

Compliance Security Big Data Analytics 87

FICO

JUNE 22, 2017

JP Morgan’s fine highlights the broader problem that many global banks had been facing, which was ignoring the warning signings of fraud and money laundering. This tool demonstrates AI’s transformative benefits in anti-money laundering (AML) and fraud detection.

Tools 55

Tools Compliance Innovation social media 55

FICO

AUGUST 15, 2018

Consider the risk modeling scorecard, which has been traditionally lauded by businesses and regulators alike for its predictive capabilities. 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.

Analytics 53

Analytics Analysis Data Operations 53

CFPB Monitor

JULY 28, 2022

Director Chopra also linked the CFPB’s concerns with big tech to its concerns about technologies that allow for real-time consumer payments and the increased potential for fraud. He identified “preparing for real-time payments” as the CFPB’s “primary focus” in the payments arena.

Regulation 78

Regulation Lending Fraud Payments 78

FICO

MARCH 18, 2020

With acceptance of biometrics becoming mainstream, and the need for fraud protection ever front of mind, how can banks use biometrics in order to be more effective and efficient? Fraud—do you need to change your approach to thwart a change or increase in attacks. Intelligent Orchestration of Multi-Factor Authentication.

Fraud 52

Fraud Analytics Samsung Comparison 52

FICO

MARCH 30, 2020

In some cases, these will be technically defined, in some cases related to social engineering and in others these contexts will be patterns of activity that indicate a higher fraud risk, for example, changing an address and requesting a new credit card. Where can businesses get guidance for their policies? by Sarah Rutherford.

Examples 52

Examples Fraud System Cards 52

FICO

JULY 18, 2022

FICO leverages machine learning (ML) in solutions ranging from fraud detection to marketing. FICO has long-supported financial service institutions in fulfilling their obligations to comply with applicable adverse action notice requirements under regulations such as the Equal Credit Opportunity Act (ECOA). Tue, 07/02/2019 - 02:45.

Analytics 52

Analytics Data Lending Industry 52

CFPB Monitor

FEBRUARY 8, 2021

Cordray referenced an April 2020 white paper he co-authored that outlined immediate actions the CFPB could take to address the pandemic.) Chopra “his own person” and expects him to take the CFPB in new directions. He expects Mr. Chopra to vigorously pursue ways for the CFPB to support consumers financially injured by the pandemic.

Leadership 78

Leadership Lending Groups Policies 78

FICO

APRIL 8, 2020

For each factor enrolled, you will be processing personal data that needs to be protected and meet regulatory requirements, such as the EU’s General Data Protection Regulation (GDPR) or the California Consumer Privacy Act (CCPA). Part 3: Biometrics in Action – What use cases are gaining ground and how do they work in a regulated environment?

Management 52

Management Examples Meeting Security 52

Tomorrow's Transactions

FEBRUARY 24, 2020

These include falling consumer retention figures, as app transaction abandonment rates increase; the cost of developing and maintaining mobile apps; ensuring adequate security for accurate billing and fraud prevention; and meeting regulations such as PSD2.

Mobile 30

Mobile Payments Security Samsung 30

FICO

JANUARY 15, 2021

The FICO Blog posts last year reflected that – we wrote about everything from the impact on collections, proactive lender communications with consumers, issues with fraud, and of course, how FICO® Scores were impacted. The COVID-19 pandemic cast a huge shadow on the financial services worldwide.

Report 59

Report Payments Cards Data 59

William Mills

SEPTEMBER 9, 2016

I believe SEC regulations require a company to go public if they have more than 500 shareholders. I like the idea but I am a bit concerned about the potential for fraud from both companies and investors. Addresses compliance, fraud experience and customer experience analytics. Regulated Financial Institution.

social media 40

social media ATM Mobile Customer Experience 40

PYMNTS

APRIL 30, 2018

Anyone in a regulated industry — and that’s just about all of them — are also plenty dubious about using cryptocurrencies as the processing rails for supporting those pilots and incorporating them into their longer-term plans should their pilots show promise. And to learn. All you need for proof is to just follow the smart money.

Fintech 183

Fintech blockchain Lending Digital Banking 183

Gonzobanker

DECEMBER 14, 2023

Note for you damn haters: yes, it’s down from a frothy high of $66,0000, but look at the normalized return over the past 15 years since Satoshi Nakamoto’s white paper.) The Bank Regulator Working for Merchants Award! Seems like maybe this has been forgotten when it comes to these regulations.

Fintech 195

Fintech Community Regional Technology 195

Gonzobanker

DECEMBER 22, 2015

Regulator Award. The all-powerful banking regulator claimed that car dealers discriminated against minority borrowers—by guessing the race of borrowers based on last names and addresses in loan files, and claimed racism if the people they guessed were minorities seemed to be paying higher rates. ‘Are You Freakin’ Kidding Me?’

Community Bank 60

Community Bank Apple Technology Community 60

FICO

APRIL 19, 2021

And with that comes regulation. While the exact status of regulations is still emerging from the Biden/Harris Administration , one thing is for sure: identification of all parties involved in transactions will reduce the risk of money laundering and other illicit activities. Read FICO’s Crypto AML White Paper.

cryptocurrency 52

cryptocurrency Bitcoin Compliance Resources 52