FICO

JANUARY 8, 2020

“ It’s like déjà vu all over again ,” is one of my favorite Yogi Berra-isms, and as I look across the domain spaces served by FICO to write my 2020 predictions, it’s definitely déjà vu all over again. At long last, fraud and compliance infrastructures are starting to converge. Fraud and Compliance Infrastructures Converge.

Compliance 52

Compliance Fraud New York City Analytics 52

PYMNTS

OCTOBER 11, 2019

And, in digital banking, banks are innovating with their strategies for fraud protection and anti-money laundering (AML). 96 percent: Share of retail banks that plan to develop services focused on real-time payments by 2020. All this, Today in Data. Data: $525M: Approximate valuation of cloud company kitchen Rebel Foods Pvt.

Trends 122

Trends Innovation Technology Marketing 122

Abrigo

MARCH 24, 2021

Anti-Money Laundering Act of 2020 BSA professionals should prepare for changes as new regulations and guidance from FinCEN unfold. Takeaway 1 The Anti-Money Laundering Act of 2020 (AMLA) is the first significant change to the Bank Secrecy Act in nearly 20 years. Anti-Money Laundering Act of 2020 (AMLA) amends the Bank Secrecy Act.

Regulation 195

Regulation Training Study Policies 195

PYMNTS

APRIL 24, 2020

As Thorness explained, their embrace of ACH processing technologies is likely to have far-reaching impacts into how they send and receive payments with government suppliers, too, particularly as ACH innovation accelerates. ” Accelerating ACH Innovation. Yet ACH volume is on the rise, and that includes in the B2B payments context.

Innovation 161

Innovation Payments System Data 161

Abrigo

DECEMBER 30, 2019

Key Takeaways Using exam findings from 2019 can help strengthen your BSA program in 2020. Regulatory hot topics and exam findings from 2019 give us a good road map for 2020 exam preparation. He suggests using this data to reverse engineer your exam experience for 2020 and start the year on a proactive note. Fraud Prevention.

Training 195

Training Compliance Leadership Fraud 195

PYMNTS

JUNE 23, 2020

In today’s top news, former Wirecard CEO Markus Braun was arrested Monday night over the firm’s recent accounting fraud scandal, and Airbnb’s CEO is again mulling a potential initial public offering (IPO). Airbnb CEO Sees Potential For 2020 IPO Amid Bookings Rebound. NEW DATA: How Credit Unions Are Innovating To Help Micro Businesses.

Payments 159

Payments Survey Innovation Fraud 159

PYMNTS

JANUARY 16, 2020

However, to do so, these companies will need to make some adjustments to their fraud protection strategies. Implementing a layered anti-fraud approach that utilizes several technologies could help protect against bad actors looking for vulnerabilities. The Latest Fraud Decisioning Developments.

Fraud 133

Fraud Tools Data Industry 133

Abrigo

DECEMBER 10, 2019

Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. An increase in financial crime and fraud against the elderly is expected to continue to climb as the baby boom population (those born before 1964) age. The under-reported and growing crime.

Fraud 284

Fraud Study United States Training 284

PYMNTS

OCTOBER 8, 2020

Research reveals that drive-thru visits increased 26 percent in the second quarter of 2020 and that such visits accounted for 42 percent of all restaurant visits during this time. Securing payment data and other aspects of the customer experience is the keystone to driving customer demand during the pandemic and in the future.

Innovation 141

Innovation Fraud Mobile Security 141

PYMNTS

JANUARY 19, 2021

Fraudsters have unfortunately also carefully followed this payment trend, with skimming, prepaid card and ATM fraud all seeing upticks recently — especially in regard to debit transactions. Bad actors have exploited these flaws to steal $2 billion to date, representing 2 percent of the $110 billion in claims the state sent out in 2020.

Fraud 155

Fraud Tools Mobile North Carolina 155

PYMNTS

DECEMBER 24, 2020

Consumers, in short, entered spring 2020 realizing that their old, largely physical habits for feeding themselves were a bad fit in a world where proximity between themselves and strangers was frowned upon as a public health liability. Digital Innovations Will Outlast the Pandemic That Inspired Them. Paytronix CEO Andrew Robbins.

Study 206

Study Industry United States Innovation 206

FICO

FEBRUARY 23, 2022

When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money.

Fraud 98

Fraud Survey Customer Experience Retail 98

PYMNTS

SEPTEMBER 19, 2019

small business market (SMB) will reach $9 trillion by 2020, but also notes that 80 percent of SMBs still use paper checks to make payments. A majority (55 percent) of corporate professionals identified real-time payments as their top B2B payment service priority, according to the Real-Time Payments Innovation Playbook.

Innovation 134

Innovation Payments Phoenix Security 134

PYMNTS

MARCH 25, 2019

federal government tries to stem fraud and other losses in benefit programs, a new mobile app might just provide a way to do that. 35 billion: Estimated number of connected IoT devices in use by 2020. As the U.S. While that happens, the payments industry is upping its game against counterfeit goods sold online.

Innovation 148

Innovation Fraud Regulation Data 148

PYMNTS

JUNE 22, 2017

Fighting fraud is a lot harder online, and a lot harder for merchants and consumers, as card-not-present transactions become the preferred method of malfeasance. In one recent announcement, payments provider TSYS and real-time learning technology platform Featurespace said they were joining forces to offer fraud prevention tools.

Fraud 162

Fraud Tools Cards Online 162

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. Two of our top five posts focused on digital transformation innovations in biometrics and customer identification.

Fraud 52

Fraud Compliance Survey Google 52

PYMNTS

OCTOBER 28, 2020

PSCU , the credit union service organization (CUSO), is teaming up with FICO Customer Communications Services (CCS) to develop a fraud alert tool for credit unions (CUs), PSCU said in a statement on Wednesday (Oct. In the event of possible fraud, members are alerted quickly and securely using their preferred method of communication.

Fraud 109

Fraud Tools Security Analytics 109

FICO

OCTOBER 19, 2020

Last week I shared FICO’s insights into fraud patterns related to spending on medical devices , including personal protective equipment (PPE) and medical devices such as nebulizers. This post examines whether increased food deliveries are causing a similar rise in food delivery fraud. My team analyzed 2020 U.S.

Fraud 98

Fraud Groups Cards Technology 98

PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2 According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2

Fraud 110

Fraud Security Retail Tools 110

FICO

MAY 18, 2023

The innovative pay-as-you-go solution allows Dock’s clients, including banks, fintechs, and retailers, to intercept fraudulent transactions and protect their operations, while also improving the user experience. The fraud prevention solution is based on FICO® Falcon® Fraud Manager and FICO® Customer Communication Services (CCS).

Fraud 52

Fraud Technology social media Innovation 52

PYMNTS

MARCH 10, 2020

In an interview with PYMNTS, Matt Wilcox, senior vice president of payments innovation at Fiserv , said recent data points show that an increasing number of financial institutions (FIs) are determined to satisfy a real demand for real-time transactions. Building Trust .

United States 230

United States Payments Fraud Risk Management 230

PYMNTS

MAY 16, 2019

CNBC , citing comments Ma made during the Viva Technology Conference in Paris Thursday (May 16), reported Ma said increased rules and laws hurt innovation and restrict tech companies. Take the General Data Protection Regulation , which passed in June and goes into effect in 2020. And everything they think about, they start to worry.

Regulation 166

Regulation Innovation Guidelines Conference 166

PYMNTS

NOVEMBER 20, 2019

Much of what commercial card innovators seek to address is a massive pain point for adoption: supplier acceptance. However, in this week’s Commercial Card Innovation roundup, it wasn’t the point of friction that technology firms were addressing. Check out the latest in corporate card innovation below.

Cards 155

Cards Innovation Fintech Payments 155

FICO

DECEMBER 17, 2020

That said, my 2021 fraud predictions have nothing to do with witchcraft – although 2020 has certainly conjured unprecedented challenges – and everything to do with the metaphorical crucible, “a place or situation in which concentrated forces interact to cause or influence change or development.” In 2020, that all went out the window.

Fraud 59

Fraud social media Mobile Data 59

Insights on Business

JUNE 3, 2019

Because of this, traditional rules-based fraud detection systems have become outdated and no longer work. Today, real-time payments require real-time fraud detection. Modern payment fraud schemes require modern prevention. Data-science-project-turned-fraud-prevention-solution vs. purpose-built-fraud-prevention-solution.

Fraud 138

Fraud Data Payments System 138

PYMNTS

JULY 24, 2020

PYMNTS’ July 2020 Preventing Financial Crimes Playbook , done in collaboration with NICE Actimize , examines the cybertheft menace from a variety of angles, with an eye on COVID-era scams. The financial industry is responding with innovation at the individual company level, but also collectively, with financial institutions (FIs) teaming up.

Fraud 187

Fraud Analytics Guidelines Industry 187

Bank Innovation

AUGUST 16, 2018

A study released today by research firm Aite and Early Warning, owner of the bank-based P2P firm Zelle, found that P2P payments will triple by 2020. alone, Aite projects “over 300% growth from 2015 to 2020—from $100.3 In the U.S. billion to $316.6 billion” […].

Fraud 186

Fraud Payments Study Operations 186

PYMNTS

JANUARY 9, 2020

Fraud is always top of mind – and the webinar will address whether the digital age necessarily means higher vulnerability to attacks. In the webinar, case studies will show how merchants can differentiate themselves by successfully bridging digital and physical retail settings.

Payments 151

Payments Case Study User Experience Millennials 151

PYMNTS

JUNE 27, 2017

He also offers advice for how to innovate in the field. Here is an excerpt of the conversation: PYMNTS: How would you define your company’s approach to innovation? PYMNTS: Where do you look for innovative ideas, and why? PYMNTS: What is the most innovative thing you’ve ever done? JB: Innovation often means taking a risk.

Innovation 145

Innovation System Mobile Trends 145

FICO

OCTOBER 19, 2020

Last week I shared FICO’s insights into fraud patterns related to spending on medical devices , including personal protective equipment (PPE) and medical devices such as nebulizers. This post examines whether increased food deliveries are causing a similar rise in food delivery fraud. My team analyzed 2020 U.S.

Fraud 76

Fraud Groups Cards Technology 76

PYMNTS

JULY 17, 2020

The following is an excerpt from How 35 Execs Are Powering The Great Digital Shift Of 2020 (And Beyond) , contributed by Brad Wiskirchen , CEO at Kount. In a 2019 PYMNTS eBook much like this, we made predictions for eCommerce in 2020 and the next decade. Lasting Lessons: AI-Driven Fraud Protection Across the Customer Journey.

eBook 222

eBook Customer Experience Fraud Mobile 222

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

DECEMBER 28, 2020

Consumers, businesses and financial institutions (FIs) cannot wait to bid adieu to 2020, which has been one of the most trying years in recent memory. Many CUs have since leaned into these efforts with digital innovations aimed at a range of issues, such as tackling fraud or enhancing members’ remote banking access.

North Carolina 197

North Carolina Houston Fraud Innovation 197

PYMNTS

AUGUST 14, 2020

But the news service reported the sector was plagued by fraud and defaults. While P2P platforms were touted as an innovative way to match savers with small borrowers, the marketplace has had troubles globally. Two of the country’s largest P2P finance providers are Lufax (Lujiazui International Financial Asset Exchange Co.

Lending 315

Lending Regulation Industry Fraud 315

PYMNTS

NOVEMBER 7, 2019

That’s why PYMNTS recently caught up with two payment experts from Endava — Global Head of Payments Delivery Petru Metzger and SVP of Payments Delivery Glenn Geil — for what amounts to a sneak peek of the coming attractions in payments in 2020, at least when it comes to value-added services. It’s looking at social scores” and other factors.

Payments 102

Payments Fraud Technology Trends 102

FICO

OCTOBER 12, 2020

Nothing presents more opportunities to fraudsters than change, and 2020 has served up plenty. This has yielded a rise in medical equipment fraud and put banks’ fraud detection systems into overdrive. Spending and Fraud Surge on PPE and Telemedicine.

Fraud 52

Fraud Data Cards US 52

FICO

MARCH 9, 2022

The last few years have thrown up many challenges for banks and card providers as everything has shifted online, one of the primary challenges being fraud scams. But the online shift has also created opportunities for financial institutions to demonstrate their strong fraud controls in the digital space.

Customer Experience 59

Customer Experience Survey Fraud Cards 59