PYMNTS

MAY 23, 2018

As the speed of payments increases around the world, the potential scope of fraud shifts to targets beyond cards. Faster payments does not necessarily mean more fraud,” Kearns said. “It Such a view enables an organization to spot idiosyncrasies that other types of fraud prevention technologies might miss.

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PYMNTS

MARCH 19, 2018

These tactics cast a wide net of fraud over the fleet card industry – from issuers and acquirers to fleet managers, employers and employees themselves. The company’s latest solution, EazyFuel , offers fraud and risk management directly to all players in a fleet card transaction, in addition to payment processing and other capabilities.

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NCR

MAY 22, 2017

Big data has been one of the tech industry’s most popular buzzwords for a few years now. But as the number of data sources grows and technology to process it becomes more powerful, the trend is changing from a nice-to-have addition to becoming an essential part of any company’s offering. Fighting fraud.

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PYMNTS

OCTOBER 29, 2018

The payment and commerce opportunities of such technology is obvious, and the wearables market is helping to guide the way toward the potential (likely?) 29) by Kaspersky Labs and the University of Oxford Functional Neurosurgery Group noted, the technology is quickly gaining ground. Memory Technology. Security Vulnerabilities.

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American Banker

MARCH 25, 2024

The best model would involve regulator-approved pooling of anonymized customer data. Specialized large language models should be harnessed to help financial institutions identify and halt fraudulent activity.

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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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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Because of this, traditional rules-based fraud detection systems have become outdated and no longer work.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.

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FICO

OCTOBER 28, 2018

The recent fascination with artificial intelligence and machine learning has made some of us ( naturally intelligent) humans confused about the role that these technologies play in the broader field of fraud analytics. In the fraud management space, BI can be thought of as a descriptive performance reporter. Data Science.

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Payments Source

MAY 7, 2019

Every organization has some kind of plan for the future, but advances in technology, cyber threats, changes in regulation and political uncertainty make it extremely difficult to plan for what lies ahead, writes Ian Stone, CEO of Veualta.

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PYMNTS

JUNE 2, 2017

First Data, the global commerce-enabling technology company, announced Thursday (June 1) the launch of Fraud Detect, a fraud solution for merchants around the world. According to First Data, using artificial intelligence, Fraud Detect analyzes vast data sets to identify fraud and potential chargebacks.

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PYMNTS

DECEMBER 5, 2017

Through improving technology and decreasing costs, AI and Big Data are now combining to help firms in the financial sector prevent payments fraud. The Stage was Set with Big Data. Certainly, the mountains of data are becoming larger by the day.

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PYMNTS

APRIL 14, 2017

While the fraud ecosystem continues to rapidly develop and advance, big data may prove itself to be a strong weapon in combatting fraud. With that thought in mind, DataVisor set off on a mission to utilize harness and analyze that could potentially detect fraud and protect billions of users around the world.

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PYMNTS

MAY 3, 2017

NACHA may have assured some banks that Same Day ACH hasn’t led to an increase in payments fraud, but concerns remain widespread about how the initiative and other faster payments efforts will reduce the window of opportunity for FIs to detect and prevent an incident. We do believe that there will be a greater uptick in fraud attempts.”.

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Payments Source

JANUARY 25, 2019

In recent years, new machine learning algorithms and big data have reduced fraud losses to an extent — however, their impact has been relatively limited, in part because the industry has been reluctant to use them. But the use of such technology is soon likely to become far more widespread in the U.K.,

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PYMNTS

JUNE 15, 2017

Can data make all the difference in the fight against payments fraud? Yes — if you know what to do with the data, and if you know where to find it in the first place. The discussion played off the findings of a new whitepaper from the firm titled, “Driving Up Conversion with Effective Fraud Management.”.

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FICO

OCTOBER 29, 2018

The recent fascination with artificial intelligence and machine learning has made some of us ( naturally intelligent) humans confused about the role that these technologies play in the broader field of fraud analytics. Fraud analytics is an umbrella term covering a lot of technologies — let’s look at the two big categories.

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Insights on Business

DECEMBER 7, 2017

In a landscape where new technology arises, gets implemented and goes mainstream in a heartbeat, I wanted to cover five of the most impactful trends currently impacting the FinTech industry today: 1. In finance, AI is helping detect and fight fraud before it can be detected by humans. It might even make technology look intuitive.

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Bank Innovation

APRIL 17, 2017

Fraud campaigns targeting online financial services tend to be smaller, and subtler than fraud campaigns conducted for other online platforms.

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PYMNTS

DECEMBER 21, 2016

In a piece on Recode , he said Alibaba is taking a “more holistic and technology-driven IPR-enforcement approach,” which involves a new app that’s designed to discern data patterns to better track down and expose counterfeiters. This is making it much more difficult for these illicit actors to hide,” he added.

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PYMNTS

APRIL 22, 2020

Insurance fraud is not a new phenomenon, but it is a prevalent one. Insurance providers are taking action to mitigate such problems and keep their operations and customers safe from fraud, however. Insurance providers are taking action to mitigate such problems and keep their operations and customers safe from fraud, however.

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Insights on Business

FEBRUARY 11, 2019

In recent months, some prominent organizations have begun moving away from their traditional pattern of purchasing colossal, general-purpose infrastructure technology, and have begun looking towards personalized technology options. The purpose-built real-time ‘dual-access’ datastore for payment fraud prevention.

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PYMNTS

JULY 25, 2019

The latest Digital Fraud Tracker explores why fraudsters are still relying on phishing as a major strategy even as they increase their use of new technologies and techniques. An uptick in fraud also means a growing online fraud prevention market. Much of the problem stems from the rush to adopt new technology.

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Banking Exchange

OCTOBER 14, 2019

Traditional statistical models are limited in the number of dimensions they can access Risk Management Technology Feature3 Fintech Feature Financial Research Big Data AML & Fraud Security Cyberfraud/ID Theft Profitability Performance.

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PYMNTS

OCTOBER 29, 2019

Cybersecurity and fraud protection company DataVisor , which uses artificial intelligence to help with fraud solutions, has launched a program called ExtenD, with the intention of helping medium to larger businesses with their cybersecurity and fraud needs, the company said in a press release.

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Perficient

OCTOBER 15, 2020

The world of modern data and analytics continues to evolve and is very exciting. The change really began in earnest about 10 years ago with the introduction of Hadoop and big data processing. While this explosion of data use cases started on premises, it is most certainly migrating to the Cloud as the primary platform.

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ABA Community Banking

JANUARY 30, 2019

Bankers have a powerful, yet underutilized, tool at their disposal: machine learning data analytics Feature Technology Risk Management AML & Fraud Tech Management Operational Risk Cyberfraud/ID Theft Big Data Feature3 Fintech.

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PYMNTS

JUNE 27, 2018

Now, as financial institutions (FIs) embrace Big Data and the algorithms, the idea of applying context to banking transactions stands to gain more popularity and profit potential. The goal of the technology is to determine, via business data, the “best-next” actions for banking clients.

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PYMNTS

JANUARY 17, 2018

Of these, Big Data, blockchain and AI are integral to a successful and progressive FinTech industry.”. The company announced the financial support while noting it aims to develop its own Big Data and AI solutions and to apply blockchain, cloud and SaaS technologies into its operations as well.

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FICO

MARCH 18, 2020

In that blog I introduced FICO’s patented Multi-Layered Self-Calibrating (MLSC) fraud model , which we have successfully deployed to overcome regional- and usage-specific variations in normal prepaid card spending behaviors, and find more prepaid card fraud. Put on your data scientist propeller beanie and let’s go!

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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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PYMNTS

OCTOBER 2, 2018

Squeezed out of tried-and-true methods of card fraud (thanks in no small part to EMV), the fraudsters are eyeing how to interfere with the money that firms legitimately send in the course of normal, daily business life. Among the more prevalent criminal methods focused on business, according to Divitt: new relationship fraud.

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BankNXT

APRIL 10, 2017

Amit Balooni on how technology can help in the ongoing war against fraud and cybercrime, and how the anti money laundering onus is still on the banks. How technology is helping overcome anti money laundering challenges on BankNXT.

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Abrigo

JULY 14, 2023

Takeaway 2 Do you have the right technology to efficiently generate strategic insights now and on an ongoing basis? Do you have the right technology? Even today, for example, financial institutions may piecemeal their data insights, typically cobbling data from a variety of data systems and reports (e.g.,

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PYMNTS

FEBRUARY 13, 2020

What is necessary, said Xie, is a different, more holistic paradigm for fighting fraud – with a broad goal of not adding more authentication steps, but fewer. And there is no technological innovation coming down the pipeline that will put that information back in the box. Learning to Spot the Good Customers.

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PYMNTS

SEPTEMBER 13, 2019

That said, digital technology and so-called Big Data promise to make the job of such criminals harder in the future, at least according to the story told by Tim Grace, CEO at PointPredictive and Frank McKenna, the company’s chief fraud strategist. We can get more predictive on capturing fraud,” he said.

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PYMNTS

DECEMBER 23, 2019

Impersonation fraud — where a cybercriminal pretends to be someone they aren’t in an attempt to make off with funds — gets a lot of attention, and for good reason. It’s scary, GIACT CEO Melissa Townsley-Solis told Karen Webster in a recent conversation, because of the level of technological sophistication it implies.

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PYMNTS

NOVEMBER 30, 2018

A new report from specialist insurer Hiscox recently revealed an unsettling trend about employee fraud and embezzlement: Most of the time, the scam involves two or more workers. According to Hiscox research, the most popular method is billing fraud (i.e. Scams can last months, or even years. The average cost of such a scam is $357,650.

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