PYMNTS

AUGUST 29, 2019

Digital fraud continues to be one of the most pressing issues that marketplaces face today. Experts estimate that total fraud losses in 2018 totaled $3.9 Developments Around The Digital Fraud World. Businesses are turning to a variety of solutions to fight fraud, including leveraging blockchain technology.

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FICO

MAY 27, 2022

Fraud at the point of application has long been an issue for lenders. We have seen insurance, utilities and mobile phone contracts all targeted by application fraud. Application fraud soared during the pandemic and continues to grow today. In most cases, fraud controls are still not taking place at the point of application.

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PYMNTS

SEPTEMBER 15, 2020

They must reassure customers they are safe from viral contagion in sharing economy spaces while ensuring their personal data is secure from rising incidents of fraud. Payments providers are seeking more secure and compliant ways of onboarding and authenticating customers to help deter online fraud.

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PYMNTS

JUNE 12, 2019

In B2B news, Visa is launching an end-to-end payments network called Visa B2B Connect , which is built on elements of distributed ledger technology and the open-source Hyperledger Fabric framework. And, in retail, firms from automakers to merchants are tapping into connected commerce technology. All this, Today In Data.

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PYMNTS

OCTOBER 28, 2020

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. billion by 2025, up from $74.4 Deep Dive: Improving Payments Efficiency With Automation And Cloud Technology.

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PYMNTS

FEBRUARY 18, 2020

percent, and is expected to be a $102 billion eCommerce market by 2025. The region also experiences some of the highest fraud rates, in both finance and eCommerce. percent of web-sourced revenue in the region is lost to fraud, according to CyberSource. The company has the goal of finding and nurturing new technology companies.

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PYMNTS

DECEMBER 17, 2018

Data: $100 billion: The estimated worth of digital supermarket sales by 2025. 100 million: The amount lost to fraud in the U.K. 50 percent: Share of firms and CCOs that are using technology in compliance efforts. . 100 million: The amount lost to fraud in the U.K. in the first six months of 2018 alone.

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South State Correspondent

OCTOBER 25, 2023

After World War II, checks were the hot payment technology and helped fuel the boom that followed. The process was sped up by technology and legislation in the 70’s and 80’s so checks could be scanned and presented faster, but the process remained costly. Checking accounts in the U.S. That is an expensive item.

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PYMNTS

MARCH 10, 2020

billion by 2025, with $1.6 Agencies in the United States and European Union are both leveraging biometric tools such as fingerprint and facial scanners in their day-to-day business, with agencies finding that this technology reduces processing time and improves identity management and passenger flow.

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South State Correspondent

JUNE 27, 2023

It’s a way for banks to speak with each other, and it started to be phased in during the first quarter of this year with the goal of a complete conversion by 2025. For example, ISO 20022 provides a set of messages (you can download HERE ) to handle ATM transactions, fraud, account names, and time periods.

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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 and cybercrimes continue to increase, causing challenges for community banks. By William Atkinson.

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PYMNTS

SEPTEMBER 6, 2019

Call centers are starting to move away from KBA as new technologies emerge. The number of facilities looking for alternatives has doubled since 2018, with 17 percent utilizing MFA to better protect against fraud. Fraud protection is thus a high priority for all call centers, regardless of their industries.

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PYMNTS

SEPTEMBER 17, 2020

One recent report found that the IAM technology market is predicted to grow from $7.6 billion by 2025.”. It’s known that many colleges and universities would fail their final when it comes to online security and fraud defenses. billion this year to $15.3 Testing Limits, Pushing Boundaries.

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Cisco

APRIL 26, 2022

The convergence of mobile, cloud, and IoT technologies continues to create new opportunities for institutions to deliver personalized and contextual financial services. Some familiar examples are receiving banking fraud alerts on mobile devices, submitting photos for insurance adjustments, or using robo-advisors for investment decisions.

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PYMNTS

NOVEMBER 11, 2019

Data holds the key to helping modern enterprises develop effective anti-fraud strategies. Many businesses are sitting on massive troves of it, but they are also facing down the three “V’s” of data complexity — velocity, variety and volume — which can make tackling fraud even harder. . Structured Versus Unstructured Data.

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Abrigo

FEBRUARY 3, 2020

Key Takeaways At many financial institutions, a substantial share of the IT budget is tied up in technology infrastructure and maintenance and cannot be used for new initiatives. Technology spending priorities. Banks spend about 7 percent of revenues on information technology, the report’s authors estimate.

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PYMNTS

SEPTEMBER 21, 2018

Governments may not be known for keeping up with cutting-edge technology, but that doesn’t mean they don’t take note of the trends — especially when it comes to tools for collecting revenue. percent between 2018 and 2025, a number of local governments are adopting the technology to accept fines and taxes more easily.

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PYMNTS

JULY 31, 2019

The Singaporean government is aiming to eliminate checks and reduce cash payments by 2025. The app was developed by the same team that designed and built the QR code technology for ATM cash withdrawals. Rampant fraud in the global trade finance space is forcing the industry to go digital, OCBC previously said.

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PYMNTS

JULY 26, 2018

75 percent: Share of food and beverage industry workers who reported an increase in fraud over the last year. 30 percent: Share of restaurant sales expected to run through digital by 2025. 80 percent: Share of Software-as-a-Service providers who will shift to a subscription business model by 2020. public.

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PYMNTS

DECEMBER 10, 2020

Video-based KYC is an effective digital technology used increasingly to confirm customers? Advocates of the strategy say it provides banks with an error-free way to onboard customers while reducing fraud and preventing application abandonment. . million by 2025. identities while also speeding and simplifying sign-up.

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PYMNTS

JULY 9, 2019

In an new PYMNTS interview, Reinhard Hochrieser, vice president of product management at authentication services provider Jumio , provided an overview of the global state of ID verification and authentication, along with access management — and how improving those processes and technology can lead to gains for merchants and financial institutions.

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PYMNTS

JULY 18, 2018

million: What PwC was ordered to pay by a judge for failing to detect fraud between a client and a mortgage lender. $1 trillion: The estimated worth of the global market for connected devices by 2025. 1 trillion: Value of loan balances held by credit unions as of March 2018.

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PYMNTS

DECEMBER 12, 2018

As that mobile technology get closer to mainstream introduction, the potential 5G ecosystem for FinTech and mobile banking is gaining clarity. Banks and credit unions are still wrestling with the best ways to deploy mobile technology, and do so in ways that balance security, and safe authentication, and consumer convenience.

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PYMNTS

APRIL 26, 2018

Face and voice recognition technologies are gaining popularity in the fast-evolving world of biometrics. Plus, how authentication technology is evolving to better understand user behaviors. The voice recognition technology market is poised to grow in value to $1.66 billion by 2025 in Europe alone. In the U.K.,

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PYMNTS

FEBRUARY 17, 2020

IoT technology has rapidly expanded beyond in-home devices into cities worldwide. Governments and institutions in Europe, India and the United States are experimenting with IoT solutions to enhance city life, and the technology is expected to create between $4 trillion to $11 trillion in value over the next several years.

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Independent Banker

OCTOBER 31, 2022

According to a new report from PwC titled “Retail Banking 2025 and Beyond” (see sidebar), the retail banking industry is undergoing tremendous change—but, of course, community bankers already know that. “A Of course, successful retail banking requires more than just technology. By William Atkinson. Reaching customers. Versluys says. “We

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PYMNTS

OCTOBER 20, 2019

“By leveraging technology to improve transparency and accountability in administrative systems, we are completing in short order what many years of administrative reforms had not been able to accomplish,” said Mahamudu Bawumia, Ghana’s vice president, at the Financial Time ‘s Africa Summit in London last week.

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PYMNTS

APRIL 8, 2019

Sharing is, in fact, enormously complex, prone to fraud and frustration, at least when it comes to digital payments and commerce. The global sharing economy stood at about $148 billion in 2014 (certainly nothing to sneeze at), and will balloon to $335 billion by 2025, less than six years away. Supply Of Data.

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Abrigo

JUNE 9, 2016

Technology, which is allowing more of the processes involved in providing Level 1 services to be automated, is also providing opportunities for public accountants to shift to more value-added work that plays on their core competencies, such as critical thinking and problem solving.

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PYMNTS

SEPTEMBER 2, 2019

There are many ways, and many initiatives underway, to streamline transactions and take advantage of new technologies such as blockchain. No wonder, then, that as the Digital Fraud Tracker found , the online fraud prevention market is slated to grow by as much as 20 percent annually, as measured for a CAGR projected from this year until 2025.

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PYMNTS

DECEMBER 11, 2020

million by 2025, according to the new Tracker , and “FIs that leverage video-based KYC can reduce customer onboarding costs by as much as 90 percent.”. There’s also the issue of too little due diligence in slapping banks with steep fines, to say nothing of otherwise desirable account holders who bail on a friction-laden process.

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PYMNTS

NOVEMBER 10, 2020

But in the decade since bitcoin’s debut, technologies have evolved in the payments ecosystem that are helping set the stage for cryptos to become more widely adopted. Crypto has been held up by critics as a conduit to fraud and money laundering. The Difference A Decade Makes .

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PYMNTS

SEPTEMBER 14, 2016

And according to Ed Abbo, president and chief technology officer of C3 IoT , fraud detection is paramount in the global power industry, which is a $30 billion–$40 billion industry. PYMNTS caught up with Abbo to learn more about C3 IoT’s work, particularly in the areas of mobile devices, Big Data and fraud protection.

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PYMNTS

JULY 8, 2016

Nobody, so far, has been able to develop a complete end-to-end technological solution including hardware, payments back end all the way to the acquiring processing,” Klein said. falls in line with the rollout in Europe, a benchmark market for post-EMV fraud decline, it differs in the way it was actually implemented in Europe.

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FICO

FEBRUARY 17, 2023

I had my phone with me and wondered if contactless payment technology would help me pay for a bucket of driving range balls. I was thinking to myself, “There is no way this bolt-on technology contraption is going to work.” And as with any emerging technology, there are inherent risks that should be understood.

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South State Correspondent

APRIL 24, 2023

Just when you were getting your bank’s head around how you will operationalize ChatGPT (our breakdown HERE ), AutoGPT, an application built on top of ChatGPT, gets released and takes the technology to a new level. Autonomous agents will be deflationary, reducing product cost, fraud, and risk.

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PYMNTS

AUGUST 29, 2018

Analysts estimate that over half (55 percent) of American households will be regularly interacting with voice-activated assistants by the year 2025. It is also possible to have technology really “listen” to how they say it. Hackers love nothing more than a target-rich environment.

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