PYMNTS

MARCH 2, 2020

Instead, she noted, an estimated $240 billion is going out the door to fraud, waste and abuse (FWA). From those manual reviews, these highly experienced investigators create rules, monitor suspicious activity and collaborate with law enforcement to mitigate fraud in the system, she continued. Modifying the System.

Fraud 216

Fraud System Security Leadership 216

PYMNTS

MARCH 20, 2020

We have deep dives into in-house restaurant ordering apps and cloud technology, as well as a report on banks running short on large bills amid the coronavirus crisis. It can be challenging for restaurants to manage multiple eateries and to keep them completely stocked as well as running smoothly in the best of times.

Technology 181

Technology Apple New York City social media 181

PYMNTS

JANUARY 4, 2019

The 2018 holiday season has barely ended and it’s a good bet that retailers and payments players have yet to identify all the fraud that took place. The rest of the year will bring other such attacks, and no doubt new attacks barely imagined even by veteran fraud-prevention experts. Criminal Rings. Criminal Patience.

Fraud 190

Fraud Online How To Course 190

PYMNTS

OCTOBER 29, 2018

The payment and commerce opportunities of such technology is obvious, and the wearables market is helping to guide the way toward the potential (likely?) 29) by Kaspersky Labs and the University of Oxford Functional Neurosurgery Group noted, the technology is quickly gaining ground. Memory Technology. Security Vulnerabilities.

Fraud 176

Fraud Wisconsin Data social media 176

PYMNTS

NOVEMBER 19, 2019

The fact that fraud is on the rise is not new, nor is it surprising that banks are turning to artificial intelligence (AI) and machine learning to fight back. In the latest Digital Banking Tracker , PYMNTS looks at how banks are currently approaching their use of AI and machine learning in fraud protection and technology innovation.

Fraud 109

Fraud Digital Banking Innovation Data 109

Abrigo

AUGUST 7, 2023

Assessing and preparing for staffing needs AML and fraud compliance is an essential obligation for financial institutions. By performing a thorough staffing assessment of your AML and fraud teams, you understand the resource needs to meet all quality and regulatory expectations.

Training 195

Training Fraud Leadership Resources 195

PYMNTS

APRIL 7, 2017

The approach to financial services for consumers and businesses is quite vast, but across the spectrum, access to and management of financial data is a critical component. “Once you see someone adopting a technology, it starts to move very quickly as others ‘sign off’ on this technology, so to speak.”

Data 191

Data Technology Security Tools 191

PYMNTS

FEBRUARY 25, 2020

These three main segments of the Fleet Solution are said to provide better control over operations and increased protection against fraud. Fuels are formulated with dual detergent technology called Dynaflex. The global smart fleet management industry was valued at $290.9 percent by 2025.

Cards 159

Cards Fraud Operations Management 159

Insights on Business

MAY 6, 2019

Payment fraud detection has always had a bit more latitude than its counterparts in anti-money laundering, customer due diligence and even trade surveillance compliance. Unlike the latter areas, fraud prevention is an area not as heavily governed by regulations or specific rules of what a financial institution should or should not allow.

Fraud 102

Fraud Regulation Compliance Analytics 102

Insights on Business

NOVEMBER 22, 2017

The changes we see in the global payments landscape, driven by innovative technologies, are fundamentally changing the industry, but they come with a brand new set of challenges. On the other hand, technology capabilities are supporting increasingly complex, sophisticated and global fraud and cybercrime patterns. bn ($5.3Bn).

Fraud 125

Fraud Payments Innovation Industry 125

PYMNTS

MAY 22, 2019

With fraud ramping up, regulators around the globe are starting to take a closer look at everything from typical threats to the use of new technologies, like blockchain. However, most of these security risks will be familiar to banks, which have protected against digital fraud for decades now.

Fraud 180

Fraud Payments Regulation Security 180

PYMNTS

APRIL 24, 2020

There is a great deal of economic uncertainty in the world today, as many banking managers and executives are acutely aware. These circumstances have brought to the fore what has long been a central concern for lenders: assessing and managing credit risk. percent in 2018, when PYMNTS conducted a similar study, to 9.3 percent today.

Payments 251

Payments Fraud Study System 251

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. Synthetic Identities and Application Fraud. Innovative Customer Communications for Fraud. Tue, 07/02/2019 - 02:45. by TJ Horan.

Fraud 52

Fraud Analytics Trends Innovation 52

PYMNTS

AUGUST 12, 2020

Visa has become a part of the ranks of companies experimenting with Phixius, a technology that assists credentialed service providers in exchanging and supervising digital payments data, NACHA said in a Wednesday (Aug. The technology was to use the blockchain as well as Afinis interoperable and standardized APIs in addition to ISO 20022.

Data 198

Data Payments United States Fraud 198

PYMNTS

NOVEMBER 21, 2018

The rate of contact center fraud has skyrocketed recently, growing by 350 percent during the past four years. In one recent move, for example, Avtex , a call center customer experience consulting and technology company, partnered with biometric identity company Daon.

Trends 190

Trends Fraud Customer Experience System 190

PYMNTS

JULY 31, 2018

Visa has announced a strategic global partnership with Sabre that will allow the technology provider for the travel industry to utilize CyberSource , Visa’s payment management platform. Currently, more than half of the world’s top 50 airlines already use CyberSource solutions for fraud and payment management.

Payments 104

Payments Fraud Management Industry 104

Gonzobanker

MARCH 14, 2024

I know your sales leadership has spent hours teaching you how to conduct basic discovery on your prospect, but there are countless times when people speaking on the call have no clue about the financial institution’s main problems or challenges and know very little about their business model, systems in use, or people on the call.

Software 97

Software Fraud Leadership System 97

FICO

DECEMBER 18, 2019

In anticipation of a dramatic increase in CNP fraud, several years ago FICO implemented new machine learning technologies in the FICO® Falcon Fraud Platform to better catch fraud in this area. Current UK Fraud Trends. The differences in fraud rates between debit and credit spending are similarly stark.

Fraud 52

Fraud Trends Cards Maine 52

PYMNTS

FEBRUARY 17, 2020

With some analysts projecting a trillion IoT-enabled devices to be in use around the world by 2035, defending the IoT ecosystem is becoming more crucial as emerging technologies spread across business sectors and spark the development of smarter cities, homes and automobiles. Across the Intelligence of Things (IoT) Space.

blockchain 249

blockchain Maine Security Data 249

PYMNTS

FEBRUARY 1, 2017

At the same time, the risk of fraud has never been higher and is still increasing — and the true costs of card-not-present fraud hit both the top and bottom lines of retailers simultaneously, while doing damage to reputations as well. When it comes to fighting fraud, there is a two-tiered model that is emerging.

Fraud 100

Fraud Retail Cards Samsung 100

PYMNTS

JANUARY 10, 2017

It’s early in 2017, but fraud looms like Nosferatu chancing upon the sleeping maiden. The ability to provide convenience will become “a huge competitive differentiator” over time, he said, citing Amazon, with its famed quick checkout process, in turn predicated on the ability to manage risk accurately and in real time.

Fraud 100

Fraud US Data System 100

PYMNTS

APRIL 22, 2016

Regardless of the company, its industry, its customers or location, online fraud remains top of mind. The urgency of robust and multilayered fraud detection systems becomes especially clear against a backdrop where card-not-present fraud is likely to grow by leaps and bounds in the wake of the EMV liability shift from last year.

Fraud 100

Fraud Idaho Innovation San Francisco 100

FICO

MARCH 30, 2021

While the phrase has become a bit hackneyed (I did grit my teeth a bit while I wrote that first sentence), this past year the pandemic truly impacted not just major parts of our personal lives, but how we handle our fight against fraud and financial crime. .

Fraud 52

Fraud Data Resources Study 52

PYMNTS

MARCH 4, 2020

The value of the technology is evidenced by the vast number of APIs that businesses use and consume. The March B2B API Tracker ® explores how B2B APIs are improving services and what it takes to keep the technology safe from bad actors. Companies each made an average of 363 APIs available publicly in 2018, for example.

Fraud 242

Fraud Examples Security Management 242

PYMNTS

JULY 9, 2020

It will enable real-time spend tracking, new pre-approvals of expenses not found in traditional employee expensing, and enhanced fraud controls, according to the release. “We are working to transform spend management,” he said, according to the release.

Cards 229

Cards Resources Trends Leadership 229

PYMNTS

FEBRUARY 1, 2019

IrisGuard, an iris-recognition solutions company, and Patientory, a cybersecurity healthcare data solution firm, are collaborating to combine iris biometric technology with the healthcare focused PTOYNet blockchain network, to add another layer of security and authorization on the blockchain, and help with patient identity procedures.

blockchain 193

blockchain Software Technology Maine 193

Independent Banker

JANUARY 31, 2022

With consumer expectations seeming to evolve faster every year, community banks could consider partnering with a fintech to keep up with technological innovation. He points out that the technology enabling mobile wallets is extremely complicated, making it “next to impossible for a bank to develop these wallets internally.” Quick Stat.

Community Bank 159

Community Bank Community Fintech Risk Management 159

Abrigo

MAY 5, 2022

Thankfully for bank and credit union executives, lenders, risk managers, and Bank Secrecy Act (BSA) Officers, banking podcasts and podcasts for credit unions are plentiful, and options are growing. Main Street Banking: A Podcast for Community Bankers 8. A quick look at top banking podcasts worth a listen, according to Abrigo : 1.

Community 195

Community Lending Maine Resources 195

PYMNTS

DECEMBER 2, 2019

1), and it was ostensibly put into place to tamp down on fraud and stop the illegal sales of mobile phone cards. The Ministry of Industry and Information Technology announced the move in September and didn’t say what was going to happen to existing phone customers. The new requirement went into effect Sunday (Dec.

Policies 130

Policies Mobile Maine Fraud 130

PYMNTS

JANUARY 3, 2019

Mobile payment and commerce apps, order-ahead technology, and food delivery services like Uber Eats and Grubhub have, indeed, led to the shipment of hamburgers, and the spread of other digital retail features throughout the world of QSR. percent of QSR managers had confidence in QSR apps, in contrast to 90.9 Additionally, only 62.5

Fraud 192

Fraud Operations Retail Online 192

PYMNTS

OCTOBER 7, 2020

The expansion of digital banking and payments has also contributed to a rise in cybercrime — 32 percent of consumers noted in one study that they had been the targets of COVID-19-related fraud, for example. The expanding presence of online fraud is affecting how customers search for new businesses, in fact.

Online 223

Online Report Tools Fraud 223

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.

Fraud 100

Fraud Retail User Experience System 100

PYMNTS

JULY 16, 2019

False positives — instances of potential but uncertain fraud — can significantly gum up the works when it comes to anti-money laundering (AML) efforts, leading to friction and massive manual review that can eat up costs and cut into profits. percent, believe AI systems are effective in reducing fraud, yet only 5.5 False Positives.

System 143

System Fraud Data Maine 143

FICO

MARCH 9, 2020

This heterogeneity calls for a prepaid fraud analytic model that can identify what is usual (or unusual) behavior for a prepaid card user based on their behavior, taking into account the distinct nature of the prepaid card and its restrictions. This is almost identical to the existing fraud protection provisions for credit cards.

Fraud 52

Fraud Cards Analytics ATM 52

PYMNTS

SEPTEMBER 10, 2019

Companies therefore must either invest in teams of AML specialists or in fraud-fighting technologies. . The September AML/KYC Tracker examines the latest fraud challenges and efforts to ensure tight security and compliance. . Not all solutions are easy to adopt, however. Around the AML/KYC Worl d.

Security 185

Security Fintech Fraud Compliance 185

PYMNTS

APRIL 17, 2019

The funding also included participation from existing investors Synchrony, MassMutual Ventures, Massachusetts Mutual Life Insurance Company and Wellington Management. financial institutions, as well as leading healthcare, insurance, technology and retail companies. Payfone serves six of the top 10 U.S.

Fraud 116

Fraud Massachusetts Maine Lending 116

PYMNTS

JANUARY 13, 2020

During the session, Karen Webster talked with Amyn Dhala, vice president, global product management, AI Express, Mastercard, about what it will take to get AI into more financial institutions (FIs) and other operations in the coming years. Meanwhile, the rest rely on automation and machine learning (ML) technologies. Value Of Speed.

Fraud 207

Fraud Customer Experience Data Technology 207