PYMNTS

OCTOBER 3, 2019

Though fraud technology has evolved to combat the monster of payments fraud, there is a growth threat for banks that innovators are also paying attention to as financial institutions (FIs) increase their appetite for such tools. percent of overall revenue to lending fraud, compared to as much as 5.8

Fraud 158

Fraud Lending Technology Survey 158

PYMNTS

FEBRUARY 11, 2020

PSCU has prevented over $277 million in would-be fraud last year, 30 percent more than in 2018. Jack Lynch, senior vice president, chief risk officer at PSCU and president of CU recovery, said that as online fraud accelerates, PSCU is fully invested in new technologies “to prevent, fight and mitigate fraud loss.”.

Fraud 140

Fraud Tools Analytics Analysis 140

PYMNTS

JANUARY 28, 2020

CUs are also leveraging the latest technologies, including cloud computing, to continue fostering the relationships with their customers. Though cloud computing still has its teething issues, CUs are exploring a middle ground between public and private cloud servers to determine the best way to harness this technology. million in 2019.

Innovation 155

Innovation St. Louis Fraud United States 155

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. These types of scams fall under the broad term of remote authentication fraud, and they’re increasingly common—and inventive. Examples of remote authentication fraud. New account fraud.

Fraud 160

Fraud Strategy Community Bank New York City 160

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

JANUARY 16, 2020

However, to do so, these companies will need to make some adjustments to their fraud protection strategies. Implementing a layered anti-fraud approach that utilizes several technologies could help protect against bad actors looking for vulnerabilities. The Latest Fraud Decisioning Developments.

Fraud 133

Fraud Tools Data Industry 133

PYMNTS

OCTOBER 8, 2020

The following Deep Dive explores how restaurants are using the latest dining and ordering technology to satisfy these requirements. A December 2019 study found that 70 percent of restaurant customers have used mobile devices to interact with restaurants, for example, although the nature of their interactions varies. Mobile Ordering.

Innovation 141

Innovation Fraud Mobile Security 141

PYMNTS

JULY 24, 2019

In the latest Digital Fraud Tracker , PYMNTS examines how fraudsters are utilizing mobile and app-based channels for fraud attacks, as well as why fraudsters are still relying on phishing as a major fraud strategy even as they increase their use of new technologies and techniques. Around the Digital Fraud World.

Fraud 129

Fraud Strategy US United States 129

PYMNTS

SEPTEMBER 19, 2019

billion customer records — occurred in the first six months of 2019, for example. This has become a larger problem for FIs as they must not only deal with protecting customers from fraud, but also guard against bad actors armed with 4.1 AI, ML Innovations Necessary to Stop Account Opening Fraud.

Fraud 144

Fraud Data Mobile Tools 144

PYMNTS

JANUARY 28, 2020

Coupon fraud is particularly dangerous for the restaurant industry, where margins are razor-thin and any profit decline could spell disaster. What Is Coupon Fraud? Fraudsters exact coupon fraud in various ways. Coupon fraud costs U.S. There is a distinct difference between extreme couponing and coupon fraud, though.

Fraud 141

Fraud Study Mobile Industry 141

FICO

FEBRUARY 13, 2020

The fight against fraud is constantly evolving because of the new approaches taken by fraudsters. 2019 was a year full of innovative methods to fight fraud, and we covered these on the FICO Blog. Check out the top 5 fraud blog posts which garnered the most views in 2019. What Is Telecom Subscription Fraud?

Fraud 52

Fraud Compliance Survey Mobile 52

PYMNTS

OCTOBER 19, 2020

The following Deep Dive explores cross-border payments’ challenges, including time-consuming government inspections, lack of transparency and the potential for fraud. A recent survey found that one-third of businesses were worried about cross-border payments fraud, while 26 percent expressed data security concerns.

Technology 193

Technology Payments Security Survey 193

PYMNTS

NOVEMBER 20, 2019

billion user records have been exposed in the first half of 2019, and more than 20 breaches are reported every day. This rampant availability of users’ data makes it easier for bad actors to wreak havoc and commit fraud. She recently spoke to PYMNTS about how Scotiabank has revamped its fraud strategy in recent years. “I

Fraud 117

Fraud Data Management Analytics 117

PYMNTS

DECEMBER 31, 2019

Bottomline’s 2019 B2B Survey Payments Report finds that manual processing is the second-most pressing obstacle for treasury departments and the biggest challenge faced by small businesses. More than 40 percent are interested in same-day ACH, and over 30 percent are interested in blockchain technology. Manual processing challenges.

Innovation 153

Innovation Payments Survey blockchain 153

Gonzobanker

DECEMBER 20, 2019

GonzoBankers, 2019 was a year of extremes. There is an understanding that technology and fintech are going to cause radical change, but the how, how big and when are still very unclear. Third, read and enjoy the 2019 edition of the GonzoBanker Awards, our 18 th. annual list. We may not be good, but we’re persistent!

Idaho 148

Idaho Conference Data Marketing 148

Abrigo

APRIL 18, 2022

Innovation is key in the world of decentralized currencies The United States will have to be creative to stay competitive globally as digital assets enter the mainstream. The innovative world of digital assets has made big strides since its inception in 2009. competitiveness and leadership in leveraging digital asset technologies.

cryptocurrency 195

cryptocurrency Fraud United States Leadership 195

FICO

DECEMBER 17, 2018

For me, personally, 2018 was a period of intense AI-related creativity; my role as Chief Analytics Officer is tailor-made for my desires to rigorously create exciting new technologies in the context of solving the real-world problems of FICO customers. I recently talked about explainable latent features at an innovation workshop at the U.S.

Analytics 65

Analytics Innovation blockchain Data 65

PYMNTS

NOVEMBER 8, 2019

Innovations — some more fantastical than others — keep emerging, though. percent between 2019 and 2024 to reach $65.3 Last month, global payments solution SnapPay announced the rollout of facial recognition payment technology for North American merchants. billion in Q2 2019. Vein recognition? Voice patterns?

Innovation 120

Innovation Fraud Security Data 120

PYMNTS

OCTOBER 8, 2020

Comparing it favorably to the first half of 2019, Feedzai says it closed deals in the U.S., The deals sometimes concerned big players, including “some of the largest and most innovative companies in the world (e.g. Feedzai has seen the increase in fraud and scams with the pandemic. EMEA, Asia and the Pacific and Latin America.

Report 247

Report Fraud Risk Management America 247

PYMNTS

OCTOBER 28, 2020

PSCU , the credit union service organization (CUSO), is teaming up with FICO Customer Communications Services (CCS) to develop a fraud alert tool for credit unions (CUs), PSCU said in a statement on Wednesday (Oct. In the event of possible fraud, members are alerted quickly and securely using their preferred method of communication.

Fraud 109

Fraud Tools Security Analytics 109

PYMNTS

JULY 25, 2019

Customers have varying banking needs, but the global fraud phenomenon tends to have equal impacts. Challengers see fraud protection as especially important, particularly as they attempt to ween customers away from legacy FIs and their own nimbler FinTech competitors. Bringing a global fraud approach to a new local market.

Fraud 164

Fraud Marketing US Resources 164

PYMNTS

MARCH 18, 2019

Authenticating.com is working to combat identity fraud by combining different solutions to securely automate and outsource identity verification and fraud prevention as a service. billion in losses due to cybercrime, with various forms of identity fraud topping the list.

Fraud 108

Fraud Knowledge Base Regulation Data 108

PYMNTS

NOVEMBER 6, 2019

When it comes to fighting fraud, it’s not really what you know – not exactly, at least. It’s what you don’t know, and how you go about finding those gaps and putting up defenses via better data and new technology. Fraud is big business, with online losses topping some $14.7 DataVisor (@DataVisor) November 4, 2019.

Fraud 104

Fraud Data Regulation Security 104

PYMNTS

MARCH 14, 2019

tax reform to provide a significant benefit, nearly half said in 2019 that there has been no significant impact on their companies at all. “Ten percent fewer organizations expect the GDP of their headquarter country to increase in 2019 than they did in 2018,” the companies noted in the announcement of the report.

Fraud 115

Fraud Survey Taxes Regulation 115

PYMNTS

SEPTEMBER 24, 2020

One 2019 report noted that there were 220 updates to such requirements worldwide each day, equating to roughly 80,000 in one year. These considerations are especially important during the ongoing coronavirus pandemic as the wave of legitimate customers now doing their banking online has prompted a corresponding spike in fraud.

Compliance 151

Compliance Fraud Regulation Security 151

PYMNTS

FEBRUARY 14, 2020

The fraud prevention race is the same as it has always been, with merchants and security companies sprinting to stay ahead of cybercriminals to keep data safe and secure. Although fraud losses from banks, retailers and online platforms have continued into 2020, so has security innovation. This would have led to $2.1

Fraud 150

Fraud Security Kentucky Online 150

PYMNTS

JANUARY 7, 2019

Welcome to the first Monday of 2019. According to the Chinese calendar, 2019 is the “Year of the Pig” – which may not, at first blush, inspire much excitement for the 358 days ahead of us. That makes it the most important year of the last decade. In the payments and commerce world, that’s not much time at all.

Mobile 205

Mobile Innovation Apple Study 205

FICO

NOVEMBER 16, 2022

Enterprise Fraud Solution Buyers Want More Agility, More Data. Our recent global survey reveals the investment priorities and functionality requirements for enterprise-level fraud solution buyers. Tue, 07/02/2019 - 02:45. Investing in Fraud Prevention and Detection. FICO Admin. by Andrew Manuel. expand_less Back To Top.

Fraud 52

Fraud Data Survey Regional 52

FICO

APRIL 28, 2020

The winners of the 2019 FICO® Decisions Awards can now be formally announced. The 2019 FICO Decisions Award winners have demonstrated what is possible with a clear business objective, innovative use of technology and a great partnership. Decision Management Innovation. Fraud & Security.

Analytics 52

Analytics Fraud Management Innovation 52

Insights on Business

FEBRUARY 10, 2019

Welcome to Think 2019 in San Francisco, CA! Digitally transforming operations, operating models and technologies to compete in a changing industry structure. Download the NEW IBM Events app for Think 2019. See the full Think 2019 conference guide. Optimizing risk, compliance and security. Useful links.

San Francisco 79

San Francisco blockchain Conference Video 79

Insights on Business

FEBRUARY 11, 2019

According to recent information from Juniper Research , online payment fraud losses from e-commerce, airline ticketing, and money transfer and banking services are expected to reach $48 billion by 2023, more than double the $22 billion in losses estimated for 2018. Synthetic identities and new account fraud.

Fraud 111

Fraud Payments Data Study 111

PYMNTS

MAY 6, 2020

Financial fraud costs businesses an estimated $1.45 trillion, and it resulted in almost half of global organizations noting they were victims of fraud in 2018. This includes exploring emerging anti-fraud solutions and the challenges arising in this space as fraud grows more complex. One recent breach at U.S.

Data 181

Data Fraud Tools Technology 181

FICO

AUGUST 3, 2022

Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. Tue, 07/02/2019 - 02:45. Synthetic Identities and Application Fraud. Innovative Customer Communications for Fraud.

Fraud 52

Fraud Analytics Trends Innovation 52

FICO

DECEMBER 20, 2018

I’ll leave the speculation on the headline-grabbing technologies — your blockchains and your dancing robots — to others. For my predictions, I’ll focus on four areas of tactical concern within consumer banking that I feel confident bank executives will make significant progress addressing 2019. The good times are over.

Trends 73

Trends Lending Fraud Exercises 73

FICO

MARCH 30, 2023

Both from a cash and a fraud perspective, my curiosity was piqued, and I fell down the rabbit hole to learn more. The ATM population peaked at around 470,000 total devices in 2019 , but dropped to 456,000 in 2022. Fraudsters Love Digital Real-Time Payments All this rapid change is great for one thing — fraud.

Fraud 52

Fraud ATM South Carolina Management 52

PYMNTS

NOVEMBER 10, 2020

New York-headquartered PAAY, a consumer authentication innovator co-founded in 2011 by James Ruffer and Yitz Mendlowitz, has a new security solution that aims to obliterate hacking and fraud threats. Cyberattacks have jumped 273 percent in the first quarter of this year over the same period in 2019. also known as 3DS 2.0

Security 233

Security New York Atlanta Fraud 233

PYMNTS

JANUARY 31, 2020

We have deep dives into virtual card adoption and self-service technology, as well as a report on Kobe Bryant’s legacy. Bank client preferences have moved toward self-service technologies over branch visits in recent years because of ease of use and improved convenience. Kobe Bryant’s VC Firm Holds More Than $2B in Assets .

Cards 131

Cards Technology social media Meeting 131