Fintech Labs Insights

APRIL 12, 2024

The last one, published in Jan 2014, featured 50 innovations (see below). Note: These are the rankings from 10 years ago. I will update with milestones from 2014 to today and publish next month. I’m taking suggestions here (so far: crypto, BNPL, earned-wage access, chatbots, deposit networks).

Innovation 15

Innovation Fintech Online Mobile 15

PYMNTS

OCTOBER 17, 2019

According to recent PYMNTS research , illicit and counterfeit goods make up a multibillion-dollar fraud industry, with merchants suffering $323 billion in total losses from counterfeit products in 2017. The increase has the effect of stifling a global economy driven by innovation and new ideas. percent in 2013.

Fraud 101

Fraud Innovation Technology Mobile 101

PYMNTS

OCTOBER 17, 2019

According to recent PYMNTS research , illicit and counterfeit goods make up a multibillion-dollar fraud industry, with merchants suffering $323 billion in total losses from counterfeit products in 2017. The increase has the effect of stifling a global economy driven by innovation and new ideas. percent in 2013.

Fraud 101

Fraud Innovation Technology Mobile 101

PYMNTS

SEPTEMBER 18, 2018

The federal agency said it shut down websites where consumers could buy “fake financial and other documents – such as pay stubs, income tax forms, and medical statements – which can be used to facilitate identity theft, tax fraud, and other crimes,” according to an FTC statement. They were shut down for violating unfair practice prohibitions.

Taxes 134

Taxes Fraud Operations Security 134

PYMNTS

MARCH 18, 2019

The increase has the effect of stifling a global economy driven by innovation and new ideas. The value of fake and counterfeit products went from $461 billion in 2013 to $509 billion in 2016. percent in 2013. Illicit trade in fake goods is a major challenge in an innovation-driven global economy. That’s an increase of 3.3

Report 124

Report Innovation Study Security 124

PYMNTS

OCTOBER 10, 2018

Rarely does the wire transfer come into play as an exciting, innovative payment rail ready to disrupt cross-border B2B payments. The wire transfer, made popular by Western Union more than 150 years ago, may not seem to be the most innovative rail. Thieves attempted to steal $5.3 counterparts are not available.

Fraud 116

Fraud Compliance Innovation Payments 116

FICO

SEPTEMBER 21, 2016

Online banking electronic payments fraud is on the rise, as fraudsters explore security gaps in the emerging banking channels. For instance, data released by Financial Fraud Action UK , shows that UK online banking fraud losses increased by 38% in 2014 from 2013, and by 64% in 2015 from 2014.

Analytics 40

Analytics Fraud Payments Retail 40

Abrigo

MAY 5, 2022

Breaking Banks Breaking Banks , billed as the #1 global fintech podcast and radio show, began in 2013 and is hosted by media firm Provoke.fm. Weekly episodes highlight innovators and industry players driving innovation in the financial services industry. Fraud Prevention. keep me informed. Financial Businesses.

Community 195

Community Lending Maine Resources 195

PYMNTS

MARCH 1, 2019

While the benefits were great, the innovation came with its share of risks, too. If preventative measures aren’t taken, however, faster payments could open the door to more fraud and cyberattacks. Fraud opportunities. Once payments started moving in seconds, however, fraud instances quickly shot up. Risk reduction.

Security 134

Security Payments Fraud Cards 134

PYMNTS

DECEMBER 3, 2018

In December of 2013, Target was breached. That breach cost then- CEO Gregg Steinhafel his job, and became the poster child for EMV and the need to lock down payment card security to protect against counterfeit fraud at the physical point of sale. Yet consumer adoption and use of those innovations continues to grow.

Fraud 192

Fraud Security Payments Cards 192

PYMNTS

MARCH 24, 2017

In fact, he said, many FinTech innovators often push for solutions in B2B payments that might ignore the paper check altogether. What I’ve noticed in the industry is that people get a little too religious about how they think the world ought to work, as opposed to innovating around how the world does work,” he stated.

Fintech 101

Fintech Fraud Mobile Innovation 101

PYMNTS

SEPTEMBER 9, 2019

The cybersecurity world is witnessing a potentially new, dangerous threat: according to insurance firm Euler Hermes, one of its corporates fell victim to cyber fraud after attackers used sophisticated artificial intelligence (AI) technology to impersonate the firm’s chief executive officer by mimicking his voice on the phone.

Strategy 180

Strategy Security Technology Data 180

Insights on Business

MARCH 18, 2019

Not just a limited scheme, between 2006 and 2013 it facilitated fake trade deals, reinsurance fraud, tax evasion, hidden investments, a fuel pricing fraud scheme at Sheremetyevo Airport—and much more. AML involves multiple types of fraud, tax evasion, illegal trades and other crimes. The recently revealed $8.8

Taxes 156

Taxes Compliance Fraud Maine 156

Abrigo

AUGUST 6, 2019

Financial criminals are working hard, using technology and innovation to their advantage, to stay one step ahead of FinCEN and financial institutions. He further stated that we must be responsible with such innovation. billion since 2013. For BEC SARs specifically, they receive an average of 13,500 SARs per year.

System 264

System Las Vegas San Antonio San Diego 264

PYMNTS

JUNE 24, 2016

The new capital will be used to accelerate SecurityScorecard’s ongoing scale and foster innovation in its delivery of cybersecurity health ratings. Since launching in 2013, the company has actively tracked more than 100,000 companies and identified vulnerabilities using an outside-looking-in perspective.

Google 101

Google Risk Management Survey Capital 101

PYMNTS

JANUARY 31, 2020

Bryant formed the Bryant Stibel venture capital firm in 2013 with Jeff Stibel, founder of Web.com. Old forms of cybersecurity are not sufficient to keep pace with fraudsters’ increasingly innovative attacks. Kobe Bryant, who died on Sunday (Jan. The firm has more than $2 billion in assets.

Cards 131

Cards Technology social media Meeting 131

PYMNTS

FEBRUARY 7, 2020

Patreon launched in 2013 to fulfill this need, enabling “patrons” to pledge recurring monthly amounts of their choosing to support their favorite artists, many of whom promise additional content for those who donate above a certain threshold. Creator-patron partnerships are crucial to Patreon’s continued success, but they rely on trust.

San Francisco 141

San Francisco Video Taxes Software 141

PYMNTS

APRIL 20, 2016

The report estimates that the overall value of global counterfeit goods at $461 billion in 2013. While China is the top provenance of fake goods, its most innovative companies also fall victim to counterfeiters. .” The hardest hit brands originate in the U.S.

Marketing 100

Marketing Branding Report Innovation 100

PYMNTS

OCTOBER 26, 2017

In September, JPMorgan Chase CEO Jamie Dimon called bitcoin a “ fraud.” Bitcoins will undoubtedly rise in quoted value again, and also fall again,” wrote Michael Hiltzik in 2013. Bitcoin crashed from $1,200 to $600 in 2013. This thing is not regulated, it’s not under control.”. The currency’s value sank briefly to $5,374.60

cryptocurrency 101

cryptocurrency Bitcoin blockchain Regulation 101

PYMNTS

DECEMBER 12, 2017

The Association for Financial Professionals (AFP) released its 2016 Electronic Payments Survey earlier this year and found that use of paper checks in B2B payments actually rose 1 percent compared to 2013 levels. Not only are these processes inefficient and costly, they’re also prone to dispute and fraud,” said Abbasi.

Fintech 110

Fintech Payments Analysis Survey 110

PYMNTS

APRIL 11, 2016

MPD CEO Karen Webster says that it’s not entirely the innovator’s fault. She says that, despite the hype, there are many other options for innovators to scratch their platform itch. billion since 2013. ATM’s Massive Fraud Spike. Uber – and its $60 billion market cap – just makes it look way too easy.

Trends 100

Trends ATM Fraud Payments 100

CFPB Monitor

SEPTEMBER 9, 2019

The CFPB’s first CARD Act report was issued in October 2013, its second report was issued in December 2015, and its third report was issued in December 2017. In a section on innovation, the report discusses innovations in the following areas: Account servicing. Fraud risk management. Physical point-of-sale.

Cards 60

Cards Report Marketing Leadership 60

PYMNTS

NOVEMBER 15, 2017

In a statement, EY Global Innovation Leader, Blockchain Technology, Paul Brody, said, “blockchains are quickly becoming routine tools for business processing that companies can use to manage and take action from the huge amounts of data their systems collect and process.”. Scrutiny Heightens.

blockchain 130

blockchain Analysis Tools Technology 130

PYMNTS

MAY 4, 2016

Zooz is an Israeli firm that helps merchants connect with multiple payment providers by allowing eCommerce companies to connect with a wide variety of payment providers, eWallets, banks and fraud management and other related services. The firm has confirmed it plans to use the new funding to enhance and expand its global growth efforts.

San Francisco 100

San Francisco Cards Maine Fraud 100

Fintech Labs Insights

APRIL 27, 2016

Of the 15 first place prizes awarded this month in the 2016 Fintech Innovation Awards , five went to Finovate/FinDEVr alums. ” Innovation in Cyber Security / Anti-Fraud: Global Gateway by Trulioo – FinovateFall 2015. ” Innovation in Data Solutions: Nomis Solutions – FinovateSpring 2012.

Innovation 12

Innovation Fintech San Jose Cyber Security 12

PYMNTS

JULY 24, 2017

Rewind to 2013, Fiserv partnered with a few of its key corporate clients to pilot a digital disbursement solution in the marketplace with a subset of these corporates’ consumers. It also reduces operating costs and the potential for check fraud. There is, unfortunately, always friction,” Webster said.

Payments 101

Payments Mobile Marketing Examples 101

NCR

DECEMBER 8, 2016

Perhaps the biggest shift has been in the fraud space. Mr Koch said: “Chip and PIN was introduced a decade ago to combat the rising levels of counterfeit and stolen card fraud in the UK. Counterfeit card fraud losses duly tumbled, down £81.9 million a year between 2004 and 2014.

Fraud 40

Fraud Cards Payments Industry 40

NCR

APRIL 12, 2016

Perhaps the biggest shift has been in the fraud space. Mr Koch said: “Chip and PIN was introduced a decade ago to combat the rising levels of counterfeit and stolen card fraud in the UK. Counterfeit card fraud losses duly tumbled, down £81.9 million a year between 2004 and 2014.

Fraud 40

Fraud Cards Payments Industry 40

PYMNTS

MAY 27, 2016

I was reminded yesterday in my digital discussion with the CEO of Forter, Michael Reitblat, that 83 percent of the fraud attacks last year were the result of botnets, besting some of the more “tried and true” tactics like account takeovers and phishing. Angela Ahrendts. Keith Alexander reiterated that this past year.

Bitcoin 109

Bitcoin Fraud Mobile Apple 109

PYMNTS

MAY 9, 2019

The company, which was started in 2013, marketed itself as a “warm and fuzzy” photo app site that would help customers store photos and free up space on their phones. “They are taking images of people’s families, photos from a private photo app, and using it to build surveillance technology.

Training 116

Training Software California Video 116

NCR

JULY 5, 2016

EY figures showed FIs paid $270 billion in conduct costs and conduct-related provisions between 2009 and 2013. Only one-quarter of people who graduated from Ivy League school Wharton chose the industry in 2013, compared with 48 per cent five years previously. Fraud identification and prevention measures. Technological readiness.

Training 56

Training System Digital Strategies Leadership 56

CB Insights

FEBRUARY 13, 2020

As a result of its product innovation efforts, Stripe has seen explosive growth in product adoption and valuation. A decade of online payments innovation. Fraud prevention tools. A decade of online payments innovation. TABLE OF CONTENTS. PayPal and Square emerge as leaders in the payments space. Virtual card issuance.

Online 98

Online Company Retail Payments 98

PYMNTS

OCTOBER 1, 2018

The SEC found LCA, LendingClub and Laplanche guilty of fraud for improperly using LCA assets to benefit LendingClub Corporation, LCA’s parent company for which Laplanche was both founder and CEO. In 2013, the lender’s originations count had grown to $2 billion, and Google acquired a minority stake in the company for $125 million.

Lending 135

Lending Fraud Management San Francisco 135

PYMNTS

APRIL 30, 2018

It’s a thought that was triggered recently after reading and reflecting on recent developments across three innovations heralded as FinTech’s poster children — disruptors out to change the world and eat the proverbial lunches of incumbents they say are too big and too unmotivated to change. Blockchain. Marketplace lending. Digital banks.

Fintech 183

Fintech blockchain Lending Digital Banking 183

CB Insights

MAY 23, 2019

Few places are more receptive to new ideas and innovative business models than Silicon Valley. Below, we take a look at some of these frauds and the lessons they can teach entrepreneurs hoping to launch their own products, companies, and funds. Mozido’s fintech fraud fiasco. want to know THE TOP 20 REASONS STARTUPS FAIL?

Fraud 78

Fraud Las Vegas Company Video 78

Gonzobanker

OCTOBER 6, 2015

Prime adoption has risen from 25% of Amazon customers in 2013 to 40% today. With digital innovator acquisitions like Venmo, Braintree and Paydiant, PayPal is still squarely focused on becoming the world’s open payments network. Shift your battle plan with the shift in fraud. Dammit we’re serious: elevate analytics.

Cards 60

Cards Fraud Apple Google 60

Fintech Labs Insights

SEPTEMBER 13, 2016

E-commerce anti-fraud innovator Signifyd has locked in an investment of $19 million from American Express Ventures, Menlo Ventures, and TriplePoint Capital. Pictured: Signifyd co-founder and CEO Rajesh Ramanand demonstrating Guaranteed Payments at FinovateSpring 2013.

San Francisco 12

San Francisco Fraud California Technology 12