PYMNTS

OCTOBER 1, 2019

The global threat of fraud shows no signs of slowing down. Losses related to fraud are valued at $14.7 billion, according to the most recent DataVisor Fraud Index Report. Developments Around The Digital Fraud World. consumers lose more to romance-based fraud than any other type of scheme.

Fraud 156

Fraud Millennials Regulation Trends 156

William Mills

JANUARY 25, 2018

William Mills Agency, the largest independent public relations and content marketing firm specializing in the financial industry, released its 15th annual financial services industry report, Bankers As Buyers 2018 today. Fraud Prevention. Future Innovations. The report’s table of contents. Introduction. Mobile Developments.

Report 40

Report Technology Innovation Atlanta 40

Gonzobanker

NOVEMBER 28, 2017

In our travels, certain payments-related messages have surfaced over and over, and as we enter 2018, bankers need to pay attention to these five themes: 1 – Debit: In 2018, market forces will take 3% of banks’ current interchange income. 24 this year), and 2018 won’t be any different. Good grief, we’re in 2017.

Payments 79

Payments Fraud Cards Strategy 79

Abrigo

JUNE 10, 2020

Adequately staffed and risk-focused AML resources with good documentation are critical. Adequate, risk-focused AML resources are critical. Get adequate resources. You must find a way to get the resources, and I think that message is coming around loud and clear these days.” Focus BSA/AML resources on risk.

Resources 195

Resources Regulation Compliance Policies 195

Abrigo

MARCH 7, 2022

The world of FinCrime is more dynamic than ever, with fraud escalating thanks to an increase in mobile payments precipitated by the pandemic and security concerns rising over the Russian conflict in Ukraine. Assess your institution's resources with this calculator tool. . Fraud Prevention. Card Fraud. Fraud Prevention.

cryptocurrency 195

cryptocurrency Regulation Fraud Policies 195

PYMNTS

FEBRUARY 26, 2020

Restaurants are diving head first into digital innovations, such as mobile ordering and rewards programs. These merchants have always been vulnerable to in-person fraud, including coupon or promotion scams, but digital channels create new avenues that bad actors can exploit. Selecting the Target. AI to the Rescue.

Fraud 141

Fraud Mobile Security System 141

PYMNTS

JANUARY 29, 2020

A significant number of firms — notably small- to medium-sized businesses (SMBs) — still use such systems, as 25 percent of smaller firms stated in 2018 that their payroll involved pen-and-paper methods. A 2018 report found that 21 percent of the fraud SMBs see is expense reimbursement fraud from their own employees.

Taxes 141

Taxes Fraud Tools System 141

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

NOVEMBER 14, 2017

UBS Card Center, which processes roughly 25% of the credit cards in Switzerland, has cut the amount of fraud write-offs per compromised card, stopped more fraudulent transactions and reduced false-positive rates using the FICO ® Falcon ® Platform. For its achievements, UBS Card Center has won the 2017 FICO Decisions Award for Fraud Control.

Fraud 58

Fraud Cards Analytics Customer Experience 58

PYMNTS

APRIL 17, 2020

The drive-thru, which captured 70 percent of quick service restaurants’ (QSRs’) total sales in 2018, has become a critical focal point as dine-in seating areas are closed to slow the spread of the coronavirus. Other players in the space are rolling out innovations to support restaurants’ efforts to improve customers’ experiences.

Customer Experience 167

Customer Experience Operations Technology Branding 167

PYMNTS

OCTOBER 29, 2018

While these initiatives are spurring more focused financial services innovations, they also come with challenges. That wouldn’t just impact FIs’ digital fraud-fighting capabilities; FinTech firms often rely on bank security and authentication tools to help validate customer identities, too. Protecting APIs.

Security 192

Security Fraud Tools Data 192

William Mills

JANUARY 25, 2018

Every year we strive to build a report that identifies the trends and major drivers in banking innovation. Some of the major drivers of technology spending will remain constant from year-to-year, most notably, keeping up with and managing compliance, reducing risk from fraud, and shifting strategies for various delivery channels.

Report 40

Report Bitcoin Strategy Innovation 40

PYMNTS

JANUARY 12, 2018

That shift, for contact or contactless payments, goes into effect April 2018. As has been noted by the firm and in this space , in the two years since EMV chip cards launched in the United States, fraud has declined by 66 percent. The company directed merchants and partners to find information and resources at: [link]. .

America 153

America United States Analytics Cards 153

Abrigo

MARCH 11, 2022

Thanks to an increase in mobile payments precipitated by the pandemic and rising security concerns due to the Russian conflict in Ukraine, the world of financial fraud prevention is more dynamic than ever. Innovation and Technology Another regulatory focus in 2022 is financial institutions' technology needs, including NBFIs.

Regulation 195

Regulation cryptocurrency Policies Management 195

PYMNTS

JANUARY 17, 2020

Artificial intelligence (AI) is moving from cool concept toward everyday consumer reality, and signs of that innovation are increasingly appearing in the retail space. To do so, however, these companies will need to make some adjustments to their fraud protection strategies. Take the issue of retail security as one example.

Retail 149

Retail Security Fraud Illinois 149

PYMNTS

NOVEMBER 23, 2020

Most of those solutions still rely heavily on checks and business credit cards — which are resource-consuming processes with higher risk[s] of misuse, fraud and theft,” Gitesh Athavale , head of product (cards) at Nium, told PYMNTS. based organizations, 41.2 percent of which paid employees in multiple countries while 58.8

System 165

System Management Tools Cards 165

PYMNTS

MARCH 4, 2020

FinCEN encourages technological innovations to help fight money laundering, but technology must be used properly.” . In February 2018, FinCEN collaborated with the Office of the Comptroller of the Currency (OCC) and the U.S. Bank that capping the system due to staff size and available resources could trigger enforcement. .

US 130

US Regulation cryptocurrency Resources 130

FICO

MARCH 24, 2021

The graph below shows the trend of TBML-related SARs filed with FinCEN between 2014 and 2018. Trade finance has traditionally been a resource-intensive manual process because global trade still depends on paper documents, making it susceptible to documentary fraud. Leverage newer technology and consider technological innovation.

Compliance 98

Compliance Study Trends Fraud 98

PYMNTS

MAY 28, 2020

Canada’s six largest lenders spent more than CAD $100 billion ($71 billion USD) combined on technology between 2009 and 2018, investing in check image capturing, electronic transfers, integration with digital payment systems and a host of other banking advancements. Deep Dive: APIs’ Role In Fueling Digital-First Banking Innovation.

Community Bank 176

Community Bank Community Security Digital Banking 176

PYMNTS

DECEMBER 14, 2018

News came earlier in the month that several federal agencies have come out — together — in support of banks embracing innovation in their compliance efforts. Thus, said the agencies, banks should eye technology, and should endeavor to “consider, evaluate, and where appropriate, responsibly implement innovative approaches in this area.”

Compliance 148

Compliance Innovation FDIC Examples 148

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

William Mills

MAY 9, 2018

Welcome to FinovateSpring 2018. How they describe their product/innovation: Project Finance is a personal finance application that shows users the future of their finances based on all the choices and decisions they’re making today. I’m here at the Santa Clara Convention Center covering the demos.

Security 40

Security Samsung Strategy San Jose 40

PYMNTS

MARCH 7, 2019

Concerns from consumers outside the EU on how data is handled are growing as well, though many continue to have concerns regarding fraud. Since its official launch in January 2018, merchants and consumers in the EU have been slowly coming to terms with the effects of PSD2. Just 53 percent of customers in the U.K. About the Tracker.

Lending 198

Lending Regulation Regional Data 198

NCR

APRIL 30, 2018

According to the EY Global Banking Outlook 2018 , more than six out of ten banks (62 percent) hope to be either digitally maturing or a digital leader by 2020. Capgemini has digital transformation as its top trend for retail banks in 2018, with competition, customer expectations and cost efficiency the key drivers.

Technology 72

Technology Survey Leadership Strategy 72

PYMNTS

AUGUST 23, 2019

In her view, financial institutions are indeed coming together to share common compliance concerns, and in doing so, are working openly to create innovative solutions and put the pieces together. It is crucial that organizations dedicate resources to keep up with the evolution of financial crime,” Lee said.

Compliance 192

Compliance Security Payments Community 192

Abrigo

MARCH 24, 2021

Attention and resources directed toward higher-risk customers and activities consistent with the risk profile of the institution, rather than lower-risk customers and activities. However, remember how the 2018 Customer Due Diligence changes snuck up on the industry even given the extension? Download Whitepaper. Next steps.

Regulation 195

Regulation Training Study Policies 195

CB Insights

FEBRUARY 13, 2020

Stripe is also pursuing some more unexpected offerings, including resources to help companies build their own internal analytics tools, and Stripe Atlas, which helps entrepreneurs create US-incorporated businesses in minutes. As a result of its product innovation efforts, Stripe has seen explosive growth in product adoption and valuation.

Online 98

Online Company Retail Payments 98

Insights on Business

DECEMBER 17, 2018

Headlines related to improper conduct, fraud, infringement of privacy data have all contributed to industry re-examining the meaning of GRC in today’s business environment. As IBM VP David Marmer previously noted , in 2018, GRC has come of age. IBM OpenPages 8 – Oversight dashboard. GRC’s coming of age.

Compliance 121

Compliance Resources System Risk Management 121

FICO

AUGUST 1, 2018

I recently caught an excellent session at FICO World 2018 featuring Worldpay’s rapid DM transformation. The reduction of onboarding timelines from days to minutes is only the start of the benefits, those additional benefits including: Increased accuracy in detecting merchant fraud and default. FICO Data Orchestrator.

Management 58

Management DC Examples Customer Experience 58

Insights on Business

NOVEMBER 26, 2018

Financial institutions globally are awakening to the fact that regulatory technology will drive the next wave of innovation in their approaches to understanding and stopping financial crimes. Date: Tuesday, November 27, 2018. From attempted money laundering, to account takeover, to insider trading, institutions are paying attention.

Compliance 123

Compliance Customer Experience Strategy Groups 123

Accenture

AUGUST 26, 2019

All of these developments are affecting banks and market infrastructures, and adapting to them and absorbing their impacts requires resources and investments. Following the announcements made in 2018 by a number of system operators, the proposed migration of all HVPS over next few years marks the biggest move to date towards this objective.

Industry 174

Industry Payments System Guidelines 174

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

PYMNTS

SEPTEMBER 16, 2020

One 2018 study estimated that just 20 percent of U.S. Universities are not typically seen as top targets for fraud, with one 2019 study finding that attacks on higher education institutions constituted just 7.2 This marks a notable shift from previous years. percent of all breaches reported during that year. institutions.

Study 140

Study Arizona Fraud Examples 140

PYMNTS

NOVEMBER 9, 2020

there are indications that the opening of data flows between financial services companies has led to strong innovation (and demand for that innovation), and more regulation may loom. is arguably ground zero for open banking and, if investment flows are an indicator of where the FinTech-driven innovation will be, then the U.K.

Fintech 285

Fintech Data Regulation Innovation 285

FICO

JANUARY 9, 2019

As advanced analytics permeated nearly every industry in 2018, FICO’s thought leaders continued to push it into new areas. Whether a problem needs solving in milliseconds, requires a vast array of cloud computing resources, or has to solve for hundreds of millions of decision variables, Mosel is there to meet the challenge.

Analytics 40

Analytics Fraud Training Data 40

CB Insights

OCTOBER 29, 2018

The Sad State of Corporate Innovation. See how corporates are failing when it comes to innovation. Download the free 31-page State of Innovation report. While Google excelled in building software, it lagged behind in hardware and product innovation. Sears declared bankruptcy in October 2018. Microsoft and Nokia.

Google 76

Google Software Innovation Company 76

PYMNTS

OCTOBER 29, 2019

Credit unions (CUs) are a worldwide phenomenon, with the World Council of Credit Unions’ newly-released 2018 Statistical Report finding that 85,400 CUs exist in 118 countries, serving more than 272.2 Deep Dive: CUs Work To Bridge The AI Innovation Gap. million members. About the Tracker.

Data 103

Data Maine Analytics Case Study 103