FICO

JANUARY 12, 2022

The changing global regulatory landscape and ever-shifting fraud vectors are just two of the biggest challenges facing financial institutions. I recently sat down with Sidhartha Dash, Research Director at Chartis Research, for a conversation about the technology and trends in enterprise fraud management.

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FICO

MAY 27, 2021

A Dozen Top Achievers in 2021. Earlier this year we provided a list of the winning companies in our 2021 FICO® Decisions Awards. Many of our award winners rose to the task with new solutions and capabilities built on analytic decisioning investments that helped them to pivot to new operating models and constraints.

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Analytics Fraud Management America 52

FICO

APRIL 5, 2022

Itaú Unibanco, the largest private sector financial institution in Latin America, has migrated its fraud management and customer communication to the cloud, helping it to avoid over USD$20M a month in fraud losses. We processed more than 3 billion transactions in 2021. Customer engagement is key. percent availability.

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Independent Banker

MAY 31, 2022

Fraud and cyber attacks are on the rise, and at great expense to the industry. Here are some ideas for strengthening fraud defenses. Fraud and cybercrimes continue to increase, causing challenges for community banks. Fraud-fighting recommendations. Illustration by Cnythzl/iStock. By William Atkinson.

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FICO

DECEMBER 23, 2020

Here is how we predict banks will endeavor to enhance their financial crimes controls in 2021: 1. So will high-risk products/services such as correspondent banking and trade finance transactions. Now compliance professionals will also need to concern themselves with mitigating ransomware sanctions risks (i.e.,

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Compliance Regulation Data Risk Management 52

Cisco

JULY 12, 2022

Regulatory requirements are a key operational concern that we hear about from our financial customers. The FFIEC’s scope is much broader than simply the IT aspects of digital financials, as it includes credit markets, fraud, BSA/AML, liquidity, and other areas of interest for regulatory bodies. Infrastructure Management.

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CFPB Monitor

JUNE 30, 2022

Of special note, the OCC also believes compliance risk is “heightened” for Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance because of world events and compliance staffing concerns. BSA/AML Compliance Risks. Cybersecurity Risks.

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Abrigo

JANUARY 22, 2024

6 Steps t o mitigate fraud risk tied to new products Your AML and fraud teams' input is key when it comes to offering new bank products. You might also like this infographic, "Beyond immediate fraud losses: How the costs and impacts of fraud snowball." download NOW Takeaway 1 Fraud losses totaled $485.6

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FICO

NOVEMBER 23, 2021

He has held various roles in product development, risk management, software development and consulting for banks, hedge funds and software firms, including Standard Chartered Bank, TCG Group, HCL and Cognizant. Sid’s analyst research is focused on the intersection between risk management and high-performance analytics.

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CFPB Monitor

APRIL 1, 2021

Comments on the RFI must be received by June 1, 2021. fraud detection and financial crime monitoring). Augmenting risk management and control practices. They describe the following “particular risk management challenges” created by the use of AI: Lack of explanability as to how and AI uses inputs to produce outputs.

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Risk Management Training Lending FDIC 78

Independent Banker

DECEMBER 31, 2021

If 2020 was the year no one expected, 2021 was a year of resetting expectations. Between a smoldering pandemic, the divisive political landscape and strong, albeit uneven, growth, there was a lot to account for in 2021, and some uncertainty remains. Illustration By blindSALIDA. What changes will 2022 bring? Click to enlarge.

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FICO

FEBRUARY 22, 2021

Explainable AI ensures that we know how the model operates, and we can provide reasons and explanations as to why a decision was made at an individual level. The year is still young - what predictions do you have on the subject of AI for 2021? These microservices are the beginning of a larger industry, AI as a Service (AIaaS).

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Analytics Data Software Digital Strategies 52

FICO

JANUARY 19, 2022

From TBML to BNPL to NFTs, 2021 found fraud and financial crime professionals dealing with a plethora of new challenges and criminal schemes. Our five most popular posts of the year dealt with trade-based money laundering, non-fungible tokens, buy now pay later scams, courier scams and good old credit card fraud.

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FICO

JULY 15, 2022

Optimization and automation are fundamentally changing the way insurers use data and AI to operate and better serve customers. In fact, top performers are now either partially or fully delivering automated claims management underpinned by a cloud infrastructure. Tue, 07/02/2019 - 02:45. by Darran Simons. expand_less Back To Top.

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FICO

OCTOBER 7, 2022

Buy Now, Pay Later: BNPL Fraud and Regulatory Update. Buy now, pay later or BNPL financing is experiencing tremendous growth, but that growth can bring potential growing pains like fraud and regulatory scrutiny. As payments professionals well know, change creates opportunities for fraud. In December 2021, the U.S.

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Fraud South Carolina San Francisco Regulation 52

Independent Banker

OCTOBER 1, 2022

It has implications for everything from regulatory compliance and risk management to a bank’s ability to engender trust in its customers. The privacy of customers’ personal information is at the forefront of every community banker’s decisions, says Steven Estep, ICBA assistant vice president of operational risk.

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Data How To Community Bank California 91

FICO

MAY 3, 2023

Operating at highly organized and relentless levels, fraud networks have become a multibillion-dollar, global problem. The banking and financial services industry must evolve their fraud-fighting strategies at an equally relentless pace to stay one step ahead. Last year in the UK, nearly 41% of fraud losses were due to scams.

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Fraud Strategy Analytics South Carolina 52

FICO

APRIL 20, 2021

As customer adoption to open banking accelerates across the UK and Europe, there is no better time than now to pause and make sure all the necessary controls are in place for the continued growth, including an enterprise fraud strategy. . Protecting Open Banking Transactions with Enterprise Fraud Management.

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FICO

JULY 5, 2023

billion, according to CFCA’s 2021 Fraud Loss Survey Report. Subscription fraud can be a symptom of or gateway to other frauds. Here are five other ways crooks use subscription fraud to commit crimes against customers and service providers, with advice on how to stop them.

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Fraud How To Survey Analytics 52

FICO

JANUARY 27, 2022

The most popular posts in our Customer Development category dealt with credit card payments, open banking, trends for financial services and small business lending — as well as FICO’s listing as a top risk management firm. In January 2020 the UK reported £31 below the Canadian average and by June 2021 the UK was £347 above.

Analytics 52

Analytics US Trends Data 52

Abrigo

NOVEMBER 22, 2021

Takeaway 1 Risk tied to consumer lending compliance has been elevated as a result of the pandemic and associated operating challenges. Consumer lending compliance — like other aspects of enterprise risk management at financial institutions — saw a huge impact from the COVID-19 pandemic. Credit Risk Management.

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Compliance Lending Risk Management Regulation 195

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Each type of financial crime has a specific profile.

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CFPB Monitor

NOVEMBER 22, 2022

The report was issued in response to President Biden’s July 2021 Executive Order on promoting competition. The Treasury Department has released a report entitled “ Assessing the Impact of New Entrant Non-bank Firms on Competition in Consumer Finance Markets.” This includes IDIs acting as lenders in bank/fintech partnerships.

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FICO

FEBRUARY 12, 2023

The most popular posts in our Customer Development category dealt with digital banking, optimizing credit line increases, loan pricing and machine learning for credit risk models. You need to establish a learning culture where you can rethink the way your organization operates.

Digital Banking 52

Digital Banking eBook Analytics Customer Experience 52

Abrigo

FEBRUARY 15, 2023

Introduction Incorporating the AML/CFT priorities into a risk assessment Not all risks to a financial institution are equal. Since the AML/CFT priorities are still relatively new, the residual risk is most likely considered low to moderate when solid mitigating processes are in place. or internationally.

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Fraud United States Training Policies 195

Gonzobanker

DECEMBER 14, 2023

Nearly 2 million customers and $20 billion in deposits since entering the country with a digital bank in 2021. On one hand, there were tons of stories emerging about operational and compliance chaos in BaaS partnerships, enough to scare many banks who were standing at the edge of the pool to conclude, “I’m not jumping in.”

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