PYMNTS

DECEMBER 2, 2020

At a time when COVID-19 has seen global eCommerce and digital traffic grow by nearly 70 percent, security experts have braced for a commensurate surge in online fraud as the holiday shopping season continues. The key to this is user experience,” he said. But he added that the bad guys are using older scams as well. “As

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PYMNTS

SEPTEMBER 19, 2019

Many organizations are thus tapping into advanced, unsupervised learning technologies — which provide opportunities to reduce financial fraud as detection becomes smarter and machine learning more robust — like artificial intelligence (AI) for assistance. The High Costs Of Fraud . Getting AI Security Right .

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PYMNTS

NOVEMBER 1, 2019

The South Korean government said it was going to run the pilot phase and assess the system and its performance, as well as make adjustments as necessary. The system will be released to FinTech firms by Dec. 25, and the system allows FinTech firms access to bank payment systems across South Korea , through AP13 initiatives.

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PYMNTS

FEBRUARY 19, 2019

One day — maybe one that has already happened for some PYMNTS readers — we might look back with fondness and nostalgia on that time when chargebacks stood as the main worry merchants and other organizations faced when it came to fraud and risk. Excuse the dramatics. That’s where Kevin Lee comes in. Changing Scope.

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ZootBlog

OCTOBER 11, 2016

This norm of using mobile devices to do everything from shopping to banking, mean security and a great user experience need to go hand-in-hand. We covered everything from pain points to fraud and compliance and best practices to manage it all. That is a staggering statistic clearly pointing to a poor user experience.

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PYMNTS

NOVEMBER 8, 2019

These platforms must ensure that all parties are trustworthy, putting them in precarious positions as they work to build their user bases without alienating either side with their anti-fraud measures. . It’s a matter of figuring out how you put in place the right balance to maintain a seamless customer experience.” .

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Perficient

JANUARY 16, 2024

Monitoring and Oversight: Other effective internal controls are the basis for strong financial systems, programmatic oversight, and processes that prevent fraud, waste, and abuse. The use of monitoring systems that track and analyze financial activities.

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PYMNTS

MARCH 20, 2020

Fraud attacks’ frequency and complexity will likely continue to rise despite merchants’ best efforts to prevent them. Advances in cybercrime mean merchants often have issues combatting the attacks executed against them, especially if they are relying on legacy systems to do so. The Latest Fraud Decisioning Developments.

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PYMNTS

NOVEMBER 12, 2019

This is just one example of how the explosion of data can increase a company’s fraud vulnerabilities, but can also provide a solution if captured and utilized. Current and Future State of Fraud. Companies fighting fraud are failing to tap into unstructured data. Anti-fraud efforts are not the only potential benefits , however.

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PYMNTS

JANUARY 9, 2019

Stopping fraudsters can feel a bit like playing Whac-A-Mole for luxury retailers who want to protect customers and data, and no one wants to be the next retailer to experience a data breach or high-volume fraud attack. How Omnichannel Is Changing The Way Luxury Retailers Respond To Fraud.

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PYMNTS

OCTOBER 2, 2019

Andrew Sloper, head of digital identity and authentication at Chase, recently spoke to PYMNTS about how these solutions allow the bank to deliver seamless and secure user experiences while enabling a preventative approach to fraud. It uses ML solutions to detect fraud and highlight suspicious activities.

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PYMNTS

JUNE 16, 2017

According to a press release , App Verify for iOS allows mobile app developers to streamline the onboarding account verification process to assist with increasing conversions and providing cyber security and identity assurance from fraud.

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PYMNTS

NOVEMBER 23, 2020

AI is not only being adopted to improve workflows and grow revenues, but has also been enlisted in the fight against fraud.”. Advanced AI Makes Systems Smarter. The surge of digital orders carried a toxic tide of fraud, and many companies turned to supervised machine learning to deal with it.

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Abrigo

JUNE 4, 2024

We are looking at everything from online account opening to our banking platform's user experience. Chance-Chin elaborated on her bank’s digital strategy, which combines modern technology with close customer relationships. "We Koch stressed the importance of using technology to enhance internal operations and service levels.

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PYMNTS

SEPTEMBER 14, 2016

Retailers have been conditioned to think that fraud is simply an unavoidable cost of doing business. But Michael Reitblat , cofounder and CEO of Forter , thinks that’s a backwards way of looking at fraud and invests $20 million a year in technology to support an entirely different conversation. Where Fraud Really Hurts.

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PYMNTS

JULY 5, 2020

Due to the real-time factor, fraud can be mitigated, the release states. The offering will include flexibility, according to a press release , allowing clients to either choose BNY Melon’s services or one of the company’s Private Label Bank relationships.

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FICO

MAY 18, 2023

The innovative pay-as-you-go solution allows Dock’s clients, including banks, fintechs, and retailers, to intercept fraudulent transactions and protect their operations, while also improving the user experience. The fraud prevention solution is based on FICO® Falcon® Fraud Manager and FICO® Customer Communication Services (CCS).

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PYMNTS

JUNE 27, 2017

Those that are constantly developing new ways to integrate connected experiences into people’s lives will probably be at the forefront of the tech industry. The increased focus is a good thing — AML laws and Know Your Customer (KYC) requirements can help reduce crime, prevent terrorism and mitigate the risk of fraud.

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Gonzobanker

APRIL 26, 2023

The thing that everyone seems to have finally agreed on is that digital transformation is a journey – a phased approach focused on continuous improvement across various systems. Instead of adopting a rip-and-replace method for multiple payment systems, moving toward a payment hub allows for future transformation.

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Payments System Fraud Resources 136

PYMNTS

AUGUST 7, 2019

Hiding among these legit users are fraudsters and other bad actors that are increasingly targeting sharing economy platforms. Unfortunately, many sharing economy platforms’ verification and authentication processes are poorly equipped to combat the growing risk of fraud. In fact, 71.5 percent are asked to provide their phone numbers.

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PYMNTS

NOVEMBER 13, 2020

Another related theme is the need for legacy core banking systems to upgrade in ways that don’t protract disruptions. Fraud is another consideration. Several narratives have emerged from this pandemic. First has been the focus on digital transformation that essentially saved the economy during lockdowns.

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PYMNTS

MAY 20, 2020

For merchants and financial institutions (FIs), the “new normal” of commerce — done increasingly online — means that battling fraud is a bit like feeling an elephant. The pandemic has paved the way for fraudsters to try new avenues of attack, and is laying bare the limitations of the fraud prevention tools currently deployed.

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PYMNTS

OCTOBER 2, 2018

Squeezed out of tried-and-true methods of card fraud (thanks in no small part to EMV), the fraudsters are eyeing how to interfere with the money that firms legitimately send in the course of normal, daily business life. Among the more prevalent criminal methods focused on business, according to Divitt: new relationship fraud.

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PYMNTS

OCTOBER 29, 2020

Further raising customer expectations in the payments industry is the multitude of new providers, many of which are digital-native and do not have the legacy systems baggage of more established players. Automating fraud detection, meanwhile, can help provide a seamless yet secure B2B payments experience.

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FICO

DECEMBER 20, 2022

5 Ways Digital Payments Will Change FIs and Fraud in 2023. Financial institutions (FIs) are not letting fraud trends like scams fade into background noise, but fraud awareness is rising among customers and both the banks and customers are eager to mitigate as much as possible. FICO Admin. Tue, 07/02/2019 - 02:45. by TJ Horan.

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PYMNTS

SEPTEMBER 15, 2020

They must reassure customers they are safe from viral contagion in sharing economy spaces while ensuring their personal data is secure from rising incidents of fraud. Payments providers are seeking more secure and compliant ways of onboarding and authenticating customers to help deter online fraud.

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PYMNTS

JULY 27, 2020

. “As a result, you’ve got an industry that’s one of the biggest sectors on the planet in terms of dollar flow, but you’ve got players who face the pretty classic innovator’s dilemma: They’re led by smart people who want to embrace new technologies, but they’re really hamstrung by legacy systems.”

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PYMNTS

JULY 23, 2020

The goal is to provide a better user experience for invoicing and a reduced risk of fraud. By using the new solution, companies will be able to scale operations to offer automated invoicing and reconciliation, global tax and regulatory compliance and better fraud controls, the release stated.

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User Experience Fraud Taxes Resources 140

PYMNTS

FEBRUARY 11, 2020

The future of eCommerce, and fraud prevention, is flipping the script from just stopping bad transactions to enabling personalized customer experiences. Or is there a high level of trust that deserves a VIP experience? That is why legacy fraud prevention tools are becoming less and less efficient and effective.”.

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Fraud Security Data Tools 146

PYMNTS

JUNE 28, 2019

Easier said than done, of course, as the executive noted that challenges and barriers exist to such a shift, tied in part to back office functions and systems, which can be outdated and disjointed. User Experience. Banks and FinTechs can leverage technology, in fact, to stop fraud before it happens. Connectivity.

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Payments Fraud System Fintech 107

PYMNTS

JANUARY 16, 2020

A two-headed monster of rising churn and rampant fraud is menacing the growing subscription space, and many companies are spending big bucks to roll out innovative fraud-busting technologies to combat it. Preventing Hiccups in the User Experience. billion in 2019 to $4.1 Placing Big Bets on Customer Knowledge . “It

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PYMNTS

JANUARY 25, 2018

There are pieces for checkout, payment processing, fraud detection, et cetera — but these tools and solutions often come from different sources and do not always communicate optimally with each other. There may even be multiple systems serving the same function, such as detecting fraud attempts. The More Data, the Better.

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Payments Fraud Tools Data 122

PYMNTS

MARCH 18, 2019

According to Hsu, this is also the case for SchoolsFirst’s members — those employed by the California educational system and their family members. Early Warning reviews a long list of criteria focused on fraud preparedness to assess interested FIs before they can offer Zelle on their platforms. Educating Educators On P2P Security.

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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.

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PYMNTS

JANUARY 20, 2020

Futureproofing is the process of creating systems and processes resilient enough to hold their value in the face of an unknown future. It has motivated a different approach for fighting fraud in the 2020s and beyond. Protecting the commerce ecosystem from fraud and risk is both a short- and long-term game. Going on the Offense.

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PYMNTS

JANUARY 9, 2020

Consumers have always influenced how payment methods evolve – stretching back centuries to the barter system, and extending, now, into the digital age. Fraud is always top of mind – and the webinar will address whether the digital age necessarily means higher vulnerability to attacks.

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Payments Case Study User Experience Millennials 151

PYMNTS

MARCH 14, 2017

The availability of game-changing features, such as enhanced user experience and mobility, will impact positively on mobile POS terminals’ market size. Moreover, merchants are adopting this device to attract more customers, due to simplicity, convenience and flexibility offered by POS terminals while making payments.”.

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Retail Mobile Marketing Samsung 164