FICO

AUGUST 3, 2022

Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. Synthetic Identities and Application Fraud. Innovative Customer Communications for Fraud. Tue, 07/02/2019 - 02:45.

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Jack Henry

DECEMBER 4, 2023

Explore game-changing fraud solutions & cybersecurity insights from Jack Henry Connect 2023

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Fraud Technology Security Innovation 88

PYMNTS

OCTOBER 12, 2020

These comment letters highlighted the need for features to address accessibility, interoperability, security, liquidity, and fraud prevention,” Montgomery said. The Fed has publicly stated that it has committed to a 2023/2024 timeframe for FedNow, and added that “as we look at the delivery of the service, we’re going to be very transparent.

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FICO

AUGUST 8, 2022

2023 FICO Decisions Awards Now Open. I am excited to announce that our 2023 FICO Decisions Awards are now open! Nominations are due October 28, 2022 , and winners will be announced on January 26, 2023. Decision Management Innovation. Fraud Management. in Hollywood, Florida, May 16-19, 2023. Saxon Shirley.

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FICO

NOVEMBER 21, 2022

FICO Ranks Top 5 in the 2023 Chartis RiskTech100® Report. FICO awarded first place in six categories on risk and compliance technology in the 2023 Chartis RiskTech100 ® Report, including Innovation for the sixth year in a row. Financial Crime – Enterprise Fraud. Innovation – Retail Finance (*New category win for FICO).

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FICO

SEPTEMBER 30, 2022

Meet Our 2023 FICO Decisions Awards Judges. FICO has announced its panel of independent judges for the 2023 FICO® Decisions Awards , which honor businesses achieving outstanding results using analytics and decision management technology to grow their business, manage risk and reduce costs. Saxon Shirley. Thu, 05/12/2022 - 10:29.

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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).

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Independent Banker

OCTOBER 31, 2022

ITMs and VTMs are popular retail banking innovations among community banks. In keeping with our vision, which is to be ‘the Best Billion-Dollar Bank in the World,’ we must keep innovating to best serve our clients,” says Jeff Versluys, executive vice president and chief retail officer for OCB. What’s on the horizon for retail banking?

Banking Trends 151

Banking Trends Retail Trends Community Bank 151

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. billion: Global RegTech market’s projected value by 2023. As the U.S. While that happens, the payments industry is upping its game against counterfeit goods sold online.

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FICO

DECEMBER 1, 2022

4 AI Predictions for 2023: From the Great Correction to Practical AI. A pragmatic approach I call Practical AI will rise in 2023 like a phoenix from the ashes of years of irrational exuberance around artificial intelligence. Here are my predictions for Practical AI in 2023: 1. JessicaButalla@fico.com. Tue, 07/19/2022 - 16:11.

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BankInovation

JANUARY 17, 2024

In 2023, financial institutions continued to look to third-party vendors for innovative solutions to enhance their offerings. banks are most eager to partner in the following three areas: Payments and money movement; Fraud and risk management; and Mobile […] A December report by Scottdale, Ariz.-based

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Arizona Risk Management Fraud Innovation 66

FICO

APRIL 28, 2023

Home Blog FICO What Does 2023 Have in Store for U.S. At the same time, increasing adoption of recent innovations in credit scoring solutions should benefit consumers, leading to greater consumer empowerment opportunities and credit access. Additional events in 2023 could also impact the credit reports of millions of consumers.

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Abrigo

OCTOBER 16, 2023

Takeaway 2 Participation in BaaS models, staffing changes, poor training, and failure to reassess policies post-pandemic are risk factors for credit unions Takeaway 3 Compliance officers should always be thinking about how BSA, AML, and fraud concerns impact their credit union and , ultimately , their members.

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Alex Jimenez

NOVEMBER 4, 2023

Wealth Management: While Money20/20 has historically been a payments-focused conference, there was quite a bit of discussion on innovations in wealth management, with an emphasis on generational wealth transfer and the overall impact of technology. A version of this post was published on LinkedIn, November 1, 2023.

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PYMNTS

JUNE 24, 2019

Retailers are getting smarter about artificial intelligence (AI), and the latest example of that innovative effort comes from Walmart. In fact, PYMNTS research has found that the share of customer interactions projected to be handled by AI in 2023 is 80 percent. Take Adidas as another example of that trend.

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Retail Innovation Examples Online 184

Abrigo

JANUARY 30, 2024

Consistently rated a top industry event by attendees, ThinkBIG brought together 650 people from banks, credit unions, and partners in 2023. The Fighting Financial Crime track will focus on BSA compliance, anti-money-laundering (AML), and fraud detection topics.

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Jack Henry

SEPTEMBER 20, 2023

Community and regional banks and credit unions can learn about payments trends in 2023, FedNow, streamlining experiences, reducing fraud and risk, and the future of payments.

Regional 88

Regional Fraud Community Trends 88

Abrigo

OCTOBER 16, 2023

Takeaway 2 Participation in BaaS models, staffing changes, poor training, and failure to reassess policies post-pandemic are risk factors for credit unions Takeaway 3 Compliance officers should always be thinking about how BSA, AML, and fraud concerns impact their credit union and , ultimately , their members.

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Training Compliance Fraud Policies 195

PYMNTS

MARCH 22, 2018

Fraud detection startup Sift Science has raised $53 million in a series D round, bringing its total amount raised to $107 million. Founded in 2011, Sift Science plans to use this latest round of funding to grow its fraud detection and prevention product globally. Clients include Twitter, Airbnb, Twilio, Instacart, Zillow and Yelp.

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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?

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Insights on Business

FEBRUARY 11, 2019

According to recent information from Juniper Research , online payment fraud losses from e-commerce, airline ticketing, and money transfer and banking services are expected to reach $48 billion by 2023, more than double the $22 billion in losses estimated for 2018. Synthetic identities and new account fraud.

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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, 01/10/2023 - 11:30. Few things change faster in the financial services space than fraud trends.

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PYMNTS

FEBRUARY 4, 2020

Growing concerns about online security, fraud and infrastructure costs intensified in the period after the rollout, and generated ongoing questions over the safety of the API-driven Open Banking platforms developed to comply with PSD2 and GDPR. SCA Questions Stall Innovation. Its authentication requirements were robust, yet confusing.

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Fraud Regulation Compliance Innovation 144

PYMNTS

DECEMBER 18, 2019

The new open sharing rules proposed by the Financial Conduct Authority would “increase innovation and choice” and prevent unfair competition. Apple Expected To See Booming Wearables Demand Through 2023. The International Data Corporation forecasted the worldwide “earwear” market to nearly double by 2023. In the U.K.,

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FICO

MAY 17, 2023

Innovation is incredibly important. There is no growth without innovation. They wanted to know how investing in technology innovation was affecting growth. The top 25 percent of companies that were investing the most in technology innovation were growing at twice the pace of the 10 percent that invested the least.

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PYMNTS

SEPTEMBER 27, 2019

MyPayrollHR Founder Faces $70M Fraud Charge. The CEO and founder of the New York payroll company MyPayrollHR was arrested and charged in a $70 million bank fraud scheme that left hundreds of small businesses across the country scrambling. Visa Partner Launch Eyes $17T Digital Payments Opportunity For FinTechs.

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FICO

FEBRUARY 16, 2023

And the data from January 2023 is already trending at nearly 10x increase over 2022. When looking at total fraud cases related to skimming, we saw that 70% were tied to POCs in 5 states: California (38%), New York (16%), Pennsylvania (6%) and Florida/Washington (5%).

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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. As for me, I’m a software guy and payments professional doing my best to roll with the changes in an ever-shifting fraud landscape.

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FICO

APRIL 26, 2023

According to the Australian Competition and Consumer Commission’s Scamwatch , for example, more than 57,000 scams were reported in the first two months of 2023 alone. According to the 2023 FICO Global Scams Survey , 51% of consumers worldwide believe their friends or family members have been victims of similar scams.

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Survey Fraud Management Customer Experience 52

PYMNTS

OCTOBER 28, 2020

trillion in transaction value by 2023. Digital payments are prone to chargeback fraud, for example, and financial institutions (FIs) often report difficulties and high costs when updating their legacy systems to accommodate instant payment systems. Deep Dive: Improving Payments Efficiency With Automation And Cloud Technology.

Payments 219

Payments Compliance Fintech Innovation 219

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.

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Compliance Fraud Study Digital Banking 123

PYMNTS

AUGUST 9, 2020

For the most part, the comments said the introduction of the FedNow would lead to less innovation and unfair competition with the private sector. About 75 letters, mostly from small- and mid-size banks, trade organizations and service providers recommended the FedNow Service offer enhanced functionality to mitigate fraud.

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PYMNTS

OCTOBER 29, 2020

trillion by 2023. How Cloud Innovations Augment Business Payments. Automating fraud detection, meanwhile, can help provide a seamless yet secure B2B payments experience. Swanback noted that automation has greatly accelerated several day-to-day tasks in addition to fraud prevention, allowing the provider to reduce its overhead.

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FICO

APRIL 20, 2023

One significant consideration for businesses turning to RTP is the potential for fraud in various forms, from fake invoices to mules requesting refunds for goods that were initially stolen. In 2022, UK Finance reported that nearly 41% of fraud losses were due to APP fraud, where individuals are conned into sending funds via RTP to criminals.

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PYMNTS

AUGUST 7, 2020

As for a time frame for launching the new system, Fed officials said in a webcast detailing the particulars that FedNow would debut in 2023 or 2024 and would take a phased approach to implementation. Combatting Fraud — And Addressing Competition And Costs . A Liquidity Boost? .

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PYMNTS

AUGUST 5, 2019

By using a decentralized approach and an audit trail built on blockchain, Trust Your Supplier is designed to save time and help reduce the risk of fraud and errors. “Using the latest technology to address a classical challenge will be of benefit for everyone, and further increase the speed of using innovative solutions.”

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PYMNTS

JANUARY 14, 2021

Numerous technological and logistical challenges have emerged as firms work to vet and verify applicants without meeting them in person, with 80 percent of companies recently reporting that they experienced candidate fraud. Deep Dive: How Firms Can Power Remote Hiring With Digital ID Tools And Verification Solutions.

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