PYMNTS

SEPTEMBER 24, 2020

Staying abreast of these various compliance shifts can be costly and challenging for banks, but doing so is necessary to ensure that financial institutions’ (FIs) operations can run smoothly and ward off cyberattacks. Compliance, Cybercrime And The Cloud . Most banks are familiar with how quickly regulatory requirements can change.

Compliance 151

Compliance Fraud Regulation Security 151

FICO

FEBRUARY 16, 2022

FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management. . Survey Findings: Digital Dominates, But Customer Experience Remains Important. consumers report fraud at a rate greater than the global average.

Survey 52

Survey Fraud US Customer Experience 52

PYMNTS

SEPTEMBER 22, 2020

Consumers pivoting to online banking are also more concerned over the privacy and security of their data, especially as fraud volumes creep up —and financial regulators are taking notice. Digital-only challenger bank Varo has partnered with third-party cloud technology provider Temenos to bring its core banking to the cloud, for one example.

Compliance 191

Compliance Digital Banking Security Online 191

FICO

FEBRUARY 16, 2022

FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management. . Survey Findings: Digital Dominates, But Customer Experience Remains Important. consumers report fraud at a rate greater than the global average.

Survey 52

Survey Fraud US Customer Experience 52

FICO

DECEMBER 16, 2019

The Communications Fraud Control Association (CFCA) recently released the findings from its Global Telecom Fraud Survey. Fraud teams operate with lean structures. The majority are still using primarily rules-based fraud management systems, with just 6% using AI and machine learning. of respondents.

Survey 52

Survey Fraud Cyber Security Compliance 52

PYMNTS

FEBRUARY 18, 2020

This creates new security challenges as firms must learn to centrally manage their fraud protection methods while also gauging threats across many different channels. Fraud orchestration can help solve this issue as it allows banks to build holistic fraud prevention defense systems and gain 360-degree views of their customers.

Fraud 131

Fraud Customer Experience Compliance Survey 131

Abrigo

DECEMBER 19, 2022

Takeaway 1 Effective AML/CFT programs require ongoing training to keep AML and fraud staff compliant. Training materials for anti-money laundering & fraud professionals. This makes sense, given that a board member’s AML/CFT training needs are so different from those of a front-line compliance officer, for example.

Resources 195

Resources Training Fraud Compliance 195

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

APRIL 26, 2023

Home Blog FICO Survey: Do Customers Think Banks Are Fair to Scam Victims? According to the 2023 FICO Global Scams Survey , 51% of consumers worldwide believe their friends or family members have been victims of similar scams. More than 10% of these reports involved losses, which totaled A$96 million.

Survey 52

Survey Fraud Management Customer Experience 52

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. In August 2022, we commissioned a survey of 156 global executives and managers from retail banks and retail financial institutions.

Fraud 52

Fraud Data Survey Regional 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. Sixty-one percent of treasury professionals in a recent survey said that the time involved in finding out why payments failed had been a drain on company resources.

Technology 193

Technology Payments Security Survey 193

FICO

APRIL 20, 2023

According to FICO’s latest survey of consumers from 14 countries around the globe, 90% of all consumers have sent a real-time payment, and at least 95% of consumers have used real-time payments in India , Indonesia , the Philippines , and Brazil. Throughout the countries we surveyed, RTP usage shows no signs of slowing.

Survey 52

Survey Payments Fraud Management 52

PYMNTS

JANUARY 18, 2021

One recent survey reported that more than 37 percent of companies that have hired staff members during the health crisis have experienced new struggles related to remote onboarding and training, and about one-third said hiring in a virtual environment has been a major issue. . ID Verification In The Remote Age .

Fraud 281

Fraud Survey Training Resources 281

FICO

JANUARY 22, 2020

There has been a proliferation of real-time payments fraud, as new near-instant payment platforms, including person-to-person (P2P) transfers and mobile payment platforms grow across Asia Pacific. . We recently conducted a survey with banks in the region and found that 4 out of 5 (78 percent) have seen their fraud losses increase.

Survey 52

Survey Fraud Payments Regional 52

FICO

SEPTEMBER 16, 2020

FICO’s Integrated AML Compliance Survey has revealed that while the vast majority of banks in more than 11 countries around the Asia Pacific region believe that AI will strengthen anti-money laundering efforts, many remain unsure how to operationalize the advanced technology. Key drivers of financial crime strategy.

Survey 52

Survey Compliance Regional System 52

PYMNTS

MARCH 14, 2019

The two published their newest “ Treasury Perspectives ” survey this week, a report that polled corporate treasurers and finance executives about their plans and economic outlook. The 340 survey respondents, based mostly in North America and Europe, revealed their rising concerns over political gridlock in the U.S.

Fraud 115

Fraud Survey Taxes Regulation 115

FICO

SEPTEMBER 8, 2022

Payments Fraud in Asia Post Pandemic. Why consumers are moving to banks with the best fraud and scam prevention. Senior Consultant, Fraud and Financial Crime. The growth of real-time payments and fraud in Asia. The appeal of these banking innovations has also made it a honeypot for fraud. Saxon Shirley.

Fraud 52

Fraud Payments Survey Security 52

PYMNTS

OCTOBER 19, 2016

A new survey from Tripwire , a global provider of security and compliance solutions for enterprises and industrial organizations, revealed that 98 percent of professionals in the IT field believe that smart cities are vulnerable to cyberattacks.

Survey 100

Survey Security Industry Resources 100

FICO

JUNE 23, 2022

The Role of Data in Managing Fraud and Financial Crime Today. Here are the highlights from the fraud management data discussion I had at FICO World 2022 with Julie Conroy, Head of Risk Insights and Advisory at Aite-Novarica Group. How Did the Pandemic Change Fraud? Tue, 07/02/2019 - 02:45. by TJ Horan. expand_less Back To Top.

Fraud 52

Fraud Management Data Compliance 52

PYMNTS

SEPTEMBER 6, 2018

Lackluster reporting increases the risk of non-compliance with Department of Labor regulations, while legacy systems make fraud and inflated paychecks an easy crime. Two of the largest ways, errors and fraud, are “huge issues,” said Dean Mathews, founder of time tracking solutions provider OnTheClock.

Fraud 109

Fraud Compliance Mobile Tools 109

FICO

DECEMBER 12, 2022

Network International & FICO Bring MEA Enterprise Fraud Detection. With FICO Falcon Fraud Manager, Network International uses AI and machine learning technology to score transactions across a rapidly expanding array of payment options. The Need for Enterprise-Level Fraud Detection. FICO Admin. Thu, 12/19/2019 - 16:29.

Fraud 52

Fraud Regional CA America 52

FICO

NOVEMBER 10, 2020

I am always glad to see headlines like this one, which ran last summer in The New York Times: “ How to Reduce Credit Card Fraud.” Software does flag some transactions that seem out of place, but technology is often behind crooks who are getting more sophisticated at making their charges look legitimate.” Why can’t companies stop this?

Fraud 98

Fraud Cards Analytics Mobile 98

PYMNTS

OCTOBER 28, 2020

Digital payments are prone to chargeback fraud, for example, and financial institutions (FIs) often report difficulties and high costs when updating their legacy systems to accommodate instant payment systems. These large investments by FIs in new technologies are mere drops in the bucket compared to FinTechs’ investments, however.

Payments 219

Payments Compliance Fintech Innovation 219

PYMNTS

OCTOBER 5, 2020

Financial institutions (FIs), payment providers and FinTechs are deploying numerous technologies to keep money launderers away, including artificial intelligence (AI) and data analytics. Developments Around The AML/KYC Space. AI is quickly becoming more widely accepted as an AML measure, especially for banks in Asia. About The Tracker.

Online 141

Online Compliance Report Study 141

FICO

MARCH 10, 2022

I’ve been writing recently about the results of our recent global consumer fraud survey. But like most things, it’s not as simple as it sounds, as large customer groups are likely to switch banks if they are dissatisfied with their response to a fraud management incident (more on that in a moment). What’s a bank to do?

Fraud 52

Fraud Survey Cards Customer Experience 52

PYMNTS

OCTOBER 17, 2016

Technology has the power to help a business rise up from the competition. Small businesses, too, have an appetite for technology. This week, in our B2B Data Digest, PYMNTS examines how technology is both making life easier and harder for small business owners throughout the globe. 78% of U.S.

Technology 100

Technology Analytics Survey Data 100

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. Fraudsters Love Digital Real-Time Payments All this rapid change is great for one thing — fraud. Globally, APP fraud and related scams continue to be a problem for banks and their customers. Where Did My Cash Go?

Fraud 52

Fraud ATM South Carolina Management 52

PYMNTS

MAY 10, 2016

But Tungsten Head of Compliance Lucy Ashdown offered her take on the company’s research to discuss why FinServ firms might be seeing more invoice fraud than other industries. officials to combat fraud, Ashdown also discussed who carries the torch of responsibility when it comes to fighting this kind of security lapse in the enterprise.

Fraud 100

Fraud Compliance Security Industry 100

PYMNTS

FEBRUARY 19, 2020

PYMNTS’ recent Making Real-Time Payments a Reality: Rising Demand for Real-Time Payments report, a collaboration with Mastercard, found that two-thirds of corporate survey respondents said they are either “very” or “extremely” aware of real-time payments – and even more are interested in using the functionality.

Payments 287

Payments Fraud Survey Fintech 287

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. The New White Walkers: Zombie Synthetic Identity Fraud.

Fraud 52

Fraud Compliance Survey Mobile 52

FICO

APRIL 8, 2022

Data Orchestration for Fraud Prevention. There has been an awful lot of unsettling news about scams and fraud lately. As it happens, orchestration (of both data and process) is one of the most potent weapons in fighting scams and fraud. In recent weeks scams and fraud have been splashed across headlines everywhere.

Fraud 52

Fraud Data Management Examples 52

FICO

NOVEMBER 27, 2019

Behind the headlines on financial crime compliance are big challenges. Many institutions expanded the size of their compliance headcount by over 500% in the past few years. billion a year on ensuring AML compliance. Financial crime compliance has become a real cost burden for most banks in times of shrinking profits.

Compliance 52

Compliance Fraud Regulation Trends 52

PYMNTS

SEPTEMBER 12, 2019

The latest AMC/KYC Tracker examines current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space. The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. Cloud-based KYC activities were among the new technologies most used by U.S.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

PYMNTS

APRIL 24, 2020

The study is based on a survey of 150 U.S. Another key trend is that early AI adopters are more focused in how they are applying the technology. Moreover, FIs see this form of AI as being uniquely beneficial in the areas of payments fraud and credit risk. percent in 2018, when PYMNTS conducted a similar study, to 9.3

Payments 251

Payments Fraud Study System 251

PYMNTS

OCTOBER 5, 2020

Maintaining compliance can be tricky for merchants, however, as they may struggle to comprehend all aspects of these rules or find cost-effective ways to adhere to them. Compliance Complexities. Merchants may also look to payments orchestration platforms to help them manage compliance needs. Orchestrating A Solution.

Cards 207

Cards Data Compliance Payments 207

FICO

JANUARY 5, 2021

It’s no surprise that COVID-19 would be one of the subjects that drew readers to the FICO Blog last year, but for the Fraud Protection and Compliance category it wasn’t the only top draw. What else made for the hottest reads in 2020 for fraud and financial crime? 2: Fighting Fraud: How Biometrics Enhance Identity Authentication.

Fraud 52

Fraud Compliance Survey Google 52

PYMNTS

NOVEMBER 14, 2017

Researchers announced East & Partners’ new report, “Financial Technology and the Corporate,” on Monday (Nov. A new report by business banking market research and analysis firm East & Partners suggests corporations aren’t opposed to changing banks as a direct result of new FinTech solutions businesses want to use.

Tools 179

Tools Fintech Survey Analysis 179