FICO

DECEMBER 17, 2018

It’s no coincidence that much of my recent patent work has laid a foundation for what I predict will be the tech industry’s biggest development in 2019: ethical AI. The sum and total record of these decisions provides the visibility required to effectively govern models and satisfy regulators.

Analytics 65

Analytics Innovation blockchain Data 65

PYMNTS

FEBRUARY 4, 2020

Open Banking’s European success has kicked off interest in similar regulations worldwide, most notably in China, India and Singapore, where digital banking’s popularity among general consumers is rapidly rising. SCA Questions Stall Innovation. This fractured SCA’s ability to innovate, and challenges persist months after its deadline.

Fraud 144

Fraud Regulation Compliance Innovation 144

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

NOVEMBER 6, 2019

When it comes to fighting fraud, it’s not really what you know – not exactly, at least. Fraud is big business, with online losses topping some $14.7 Fraud is big business, with online losses topping some $14.7 But that also provides more opportunity to construct, deploy and use fraud defenses based on machine learning and AI.

Fraud 104

Fraud Data Regulation Security 104

PYMNTS

MARCH 14, 2019

Both corporates and banks have said Know Your Customer ( KYC ) regulations are their most pressing compliance concerns, with nearly three-quarters of businesses with more than $1 billion in revenues pointing to KYC as their top challenge. ” and an overall rise in complexity of current regulations.

Fraud 115

Fraud Survey Taxes Regulation 115

PYMNTS

AUGUST 12, 2019

A new report has estimated that losses related to cryptocurrency thefts, scams and fraud could reach $4.3 billion in the first quarter of 2019. On top of these numbers, the New York Attorney General’s Office revealed what they allege is a fraud involving the loss of $851 million by a major cryptocurrency exchange, Bitfinex.

Report 153

Report cryptocurrency Fraud Bitcoin 153

Abrigo

JULY 22, 2022

Cryptocurrency regulation is on the horizon The ups and downs of the cryptocurrency scene have illuminated a need for guidance for traditional financial institutions. that were unbanked as of 2019 may not be interested in jumping through the hoops required to open a traditional bank account. DOWNLOAD WHITEPAPER. What's next.

cryptocurrency 195

cryptocurrency FDIC Regulation Fraud 195

Gonzobanker

DECEMBER 20, 2019

GonzoBankers, 2019 was a year of extremes. Third, read and enjoy the 2019 edition of the GonzoBanker Awards, our 18 th. Mark Turner, Executive Chairman of the Board, WSFS Bank – We have to give the nod to an early 2019 retirement of Turner, who had one hell of a run in 12 years at the helm of a great community and wealth bank.

Idaho 148

Idaho Conference Data Marketing 148

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.

Security 233

Security New York Atlanta Fraud 233

PYMNTS

JUNE 20, 2019

According to the new Credit Union Tracker , as of March 2019 there were an estimated 5,572 CUs in operation and in the same month 324,000 consumers joined CUs. Roughly one-third (35 percent) have made data analytics investments over the past three years, according to the Credit Union Innovation Playbook. In the study, 91.7

Innovation 100

Innovation Cards Analytics Video 100

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

PYMNTS

JULY 16, 2019

Banks and merchants are racing to meet the Strong Customer Authentication (SCA) deadline as September 2019 approaches. Additionally, other companies are still working to change their platforms to comply with General Data Protection Regulation (GDPR) as that regulation continues to sweep across Europe. About the Tracker.

Strategy 188

Strategy social media Regulation Retail 188

FICO

MARCH 7, 2023

Home Blog FICO Responsible AI: Are European Firms Ready for the Regulators? There are significant changes coming in Europe, which highlight getting a handle on responsible AI use, with the banking and financial services sector among those that will be most impacted by increasing regulation.

Regulation 52

Regulation America Compliance Fraud 52

FICO

JULY 1, 2022

Global Fraud Trends: What’s Happening and What’s Next? Here are the highlights from the fraud trends breakout session at FICO World 2022 with a panel of fraud professionals from Brazil, Turkey and North America. Tue, 07/02/2019 - 02:45. Ulisses Okamoto , Fraud Risk Management Superintendent at Itaú Unibanco (Brazil).

Fraud 52

Fraud Trends South Carolina Risk Management 52

PYMNTS

OCTOBER 16, 2019

Scandal and fraud tarnishing banks’ reputations aside, the impact that AML compliance controls have had on these banks’ bottom lines can’t be underestimated. A majority of FIs plan to invest more in financial crime compliance than fraud risk management, though 43 percent reported no integration between fraud and financial risk compliance.

Compliance 123

Compliance Fraud Study Digital Banking 123

PYMNTS

AUGUST 20, 2020

Seventy percent of SMBs are adding new digital capabilities or enhancing existing ones to continue their operations, but firms often require financing to implement these innovations. One of the most pressing issues plaguing SMB lenders is the risk of fraud. Fraud targeting SMB lenders has increased by 7.3

Fintech 177

Fintech Fraud Lending Regulation 177

Abrigo

NOVEMBER 2, 2021

The AMLA is extensive, and there are many steps involved before FinCEN can implement the act, such as conducting studies, writing regulations, and publishing guidance. He stated that "…(regulators) should talk to (banks) about the risks that they run within their institutions and jurisdictions if an AML compliance culture is not fostered.

Compliance 195

Compliance Regulation Resources Policies 195

Abrigo

SEPTEMBER 13, 2022

In July 2019, regulatory bodies reinforced this idea in a joint statement that validated examiners’ use of tailored pre-examination request lists based on each bank’s risk profile, complexity, and planned examination scope. Get more BSA training on the latest fraud trends with this webinar. BSA Rules and Regulation. Learn more.

Software 195

Software Resources Training Compliance 195

CFPB Monitor

JULY 25, 2019

True to her word, NYDFS announced the creation of a new Research and Innovation Division led by Matthew Homer, who was most recently Head of Policy and Research at Quovo. These changes indicate that NYDFS will compete with the FTC and the CFPB to be the leading regulator in the fintech space.

Innovation 60

Innovation Fintech New York Policies 60

FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. In a year that saw the word "scamdemic" coined, scams such as authorised push payment fraud were top of mind, along with various other fraud schemes. Tue, 07/02/2019 - 02:45. Few things change faster in the financial services space than fraud trends.

Fraud 52

Fraud Cards Analytics Oakland 52

PYMNTS

DECEMBER 28, 2018

It has been a busy year for the world of bank regulations, particularly Know Your Customer (KYC). Financial services regulations are notorious for their complexity and ever-changing demands for financial institutions and corporates, but another fuel for development in the KYC space was the FinTech community.

Compliance 186

Compliance Regulation blockchain Taxes 186

Insights on Business

JANUARY 28, 2019

fight fraud more efficiently and accurately. fight fraud more efficiently and accurately. Credit Suisse is facing an increasing number of regulations and laws each year, and there is no end in sight. Like many banks, Santander Bank had a myriad of security solutions that kept growing whenever new regulations arose.

San Francisco 87

San Francisco Analytics Albuquerque Security 87

PYMNTS

SEPTEMBER 28, 2020

Banks, businesses and consumers fundamentally altered how they interacted with each other in the early months of the COVID-19 pandemic — and regulators tasked with making sure their data and payments are kept safe took notice. Regulators in countries like Egypt have only recently rolled out their data protection rules.

Online 151

Online Report Payments Regulation 151

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. Regulators in the U.K.

Data 181

Data Fraud Tools Technology 181

PYMNTS

JANUARY 24, 2020

However, government bodies are unable to innovate at the same breakneck pace as retailers or other consumer service industries, as they must adhere to complex regulations, and ensure that their software is not leaving partners behind. Payment Challenges Stall Government Innovations . Fraud Issues Stemming From Paper Check Use.

Payments 130

Payments US Fraud Innovation 130

PYMNTS

JANUARY 30, 2020

In today’s top news, Facebook reports a 51 percent increase in expenses for 2019 in its Q4 earnings release, Goldman focuses on expanding its digital consumer bank and Airbnb hires former Disney President Catherine Powell to head its Experiences division. Facebook Expenses Rise 51 Pct as Regulatory Pressure Increases.

social media 141

social media Payments ATM Fraud 141

FICO

DECEMBER 14, 2021

But European fraud and financial crime have continued to evolve. In the UK, Action Fraud reported several hundreds of cases of people receiving emails claiming to be from the NHS, offering them a vaccine passport, prompting them to click on a link and input their personal and financial details. Investment in Scam-Fighting AI.

Fraud 52

Fraud Management Data Trends 52

PYMNTS

JUNE 24, 2019

Merchant partners are also scrambling, with just 40 percent of merchants within the EU currently stating they will be ready by September 2019. Meanwhile, banks across the EU are confronting other changes to banking and data, including the ways they tackle fraud. How PSD2 is Affecting Asia’s Open Banking Regulations.

Fintech 161

Fintech Regulation Compliance Data 161

Insights on Business

FEBRUARY 11, 2019

This is magnified by the necessity of a tailored approach while implementing payment fraud prevention as well. The purpose-built real-time ‘dual-access’ datastore for payment fraud prevention. In the past, fraud patterns generally did not change much over time. Want to hear more but prefer the live experience?

Fraud 70

Fraud Management Resources Analysis 70

FICO

SEPTEMBER 20, 2022

Fighting Fraud with Responsible AI: My Talk with Dr. Scott Zoldi. FICO fraud expert TJ Horan talks fraud management and responsible AI with FICO's Chief Analytics Officer, Dr. Scott Zoldi. Thu, 08/22/2019 - 12:37. How Does Responsible AI Fit into Fraud Operations? FICO Admin. by TJ Horan. expand_less Back To Top.

Fraud 52

Fraud Analytics Strategy System 52

PYMNTS

FEBRUARY 5, 2020

The innovative hub addresses the industry’s plea for an easy, automated way to exchange transaction information. In addition, manual processing currently used can lead to misapplied payments while opening the door to fraud. Payments on the ACH Network reached a 12-year high in 2019, with 24.7 billion payments, up 7.7

Data 130

Data blockchain Fraud Customer Experience 130

FICO

JANUARY 30, 2019

There’s a pervasive view that compliance for money laundering remains a cost-centre activity, and is primarily a “check-the-box” exercise to keep the auditors and regulators satisfied. Money Laundering Techniques: 5 Reasons Why Compliance is More Important Than Ever in 2019. However, that has evolved in recent times.

Compliance 45

Compliance Regulation Fraud System 45

Abrigo

DECEMBER 30, 2019

Key Takeaways Using exam findings from 2019 can help strengthen your BSA program in 2020. The decade is quickly coming to an end, so as we put 2019 in our rear-view mirror, it’s time for a fresh start with the new year and new decade approaching. Are you proactively monitoring the Dark Web to better protect against fraud?

Training 195

Training Compliance Leadership Fraud 195

FICO

NOVEMBER 19, 2019

One of the hottest hot beds of innovation is artificial intelligence to combat financial crime, fraud and cyber risks while helping financial services organizations comply with security, privacy and data protection regulations. It may seem like an oxymoron, but I think it’s because FICO has made a habit of innovating.

Innovation 40

Innovation New York Compliance Fraud 40

PYMNTS

MARCH 7, 2019

Merchants and customers are now transacting under PSD2 and GDPR in the European Union (EU) — regulations that allow a greater window into how customer data is being used. While these regulations are aimed at increasing consumer trust by allowing them more transparency, many consumers in the region are still adjusting.

Lending 198

Lending Regulation Regional Data 198

PYMNTS

APRIL 30, 2020

The COVID-19 pandemic has caused an impact on open banking developments worldwide as regulators, financial institutions (FIs) and businesses set their sights on helping their current customers rather than future innovations. where regulators have been workshopping potential rules for several years. Seventy percent of U.S.

Regulation 188

Regulation Regional Data United States 188

PYMNTS

OCTOBER 22, 2018

Visa has announced new product details in anticipation of the first quarter 2019 launch of its new cross-border B2B payments solution B2B Connect. Earlier this year it was reported that the company was testing the solution, with several FIs working with Visa to pilot and roll out B2B Connect.

Payments 191

Payments Fraud Security Regulation 191