PYMNTS

NOVEMBER 19, 2019

The fact that fraud is on the rise is not new, nor is it surprising that banks are turning to artificial intelligence (AI) and machine learning to fight back. In the latest Digital Banking Tracker , PYMNTS looks at how banks are currently approaching their use of AI and machine learning in fraud protection and technology innovation.

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Fraud Digital Banking Innovation Data 109

PYMNTS

NOVEMBER 17, 2020

Over 60 percent of banks say fraud volumes are rising, with over 40 percent reporting that average fraud hit value is going up. Under COVID, one study finds that 22 percent of Americans had been targeted by pandemic-related fraud attempts as of April.

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FICO

MARCH 10, 2022

I’ve been writing recently about the results of our recent global consumer fraud survey. But like most things, it’s not as simple as it sounds, as large customer groups are likely to switch banks if they are dissatisfied with their response to a fraud management incident (more on that in a moment). Possession – something you have (e.g

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Fraud Survey Cards Customer Experience 52

PYMNTS

DECEMBER 16, 2019

Credit/debit card pilferage is their core trade, so naturally, they’ve latched onto gift cards in a big way. Gift cards now boast the highest rate of fraud attempts of all retail-issued cards – a dubious distinction that proves their popularity with everyone, including crooks. A Side of Extra Revenue.

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Mobile Fraud Cards Survey 134

Insights on Business

NOVEMBER 22, 2017

The changes we see in the global payments landscape, driven by innovative technologies, are fundamentally changing the industry, but they come with a brand new set of challenges. On the other hand, technology capabilities are supporting increasingly complex, sophisticated and global fraud and cybercrime patterns. bn ($5.3Bn).

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Fraud Payments Innovation Industry 125

FICO

MAY 18, 2023

The fraud prevention solution is based on FICO® Falcon® Fraud Manager and FICO® Customer Communication Services (CCS). The fraud prevention solution is based on FICO® Falcon® Fraud Manager and FICO® Customer Communication Services (CCS). Dock began implementing Falcon Fraud Manager in 2019 and added CCS in 2020.

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PYMNTS

JULY 23, 2018

Say someone is on the beach, perhaps leafing through a long-neglected stack of The New Yorker (oh, c’mon, they’re just looking at the cartoons), why worry about something as abstract as synthetic identity fraud? The problem is costly for firms, resulting in losses of as much as $6 billion in 2016, roughly 20 percent of card losses.

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PYMNTS

JANUARY 30, 2020

An employee’s accidental use of her corporate card to pay for groceries isn’t a crime, but it does fall under the heading of “ friendly fraud ,” which creates friction for the accounting department. Weddings and events are another sector experimenting with card-based spend management efforts.

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Management Las Vegas Cards Taxes 130

Insights on Business

NOVEMBER 1, 2018

Enterprise Fraud Management is being reinvented. Here are some key questions that should be asked of Enterprise Fraud Management vendors: Question #1: How versatile is your data model? Most fraud detection solutions only ingest out-of-the-box transactional data and basic customer and account information.

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PYMNTS

NOVEMBER 17, 2020

Customers can also split purchases with other users on PayPal and Venmo and receive the credit directly back to their card. Germany's Razor Group, which works to acquire and scale Amazon brands, has raised 25 million euros (about $26.7 Partners Against Crime: Visa Leads Effort to Fight Fraud With New Dynamic CVV Codes.

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PYMNTS

FEBRUARY 11, 2020

From Dunkin’ Brands to Grubhub , QSRs and ordering platforms are driving innovation with mobile ordering technology. Dunkin’ Brands , in one case, opened up its digital ecosystem in the fourth quarter by letting any diner use its on-the-go mobile ordering, a feature that was exclusive to DD Perks members in the past.

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PYMNTS

MAY 6, 2020

Financial fraud costs businesses an estimated $1.45 trillion, and it resulted in almost half of global organizations noting they were victims of fraud in 2018. This includes exploring emerging anti-fraud solutions and the challenges arising in this space as fraud grows more complex. One recent breach at U.S.

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Data Fraud Tools Technology 181

PYMNTS

SEPTEMBER 11, 2019

Fraudsters have been increasingly focused on mobile services, with one-third of all fraud attacks worldwide reportedly targeting mobile during the first half of 2018 — a 24 percent year-over-year increase. Fighting Fraud Visibly and Invisibly. So, how can consumers be persuaded to take a chance on these new companies?

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Security Fraud Mobile Cards 113

PYMNTS

JANUARY 30, 2018

29), ThreatMetrix will be folded into RELX’s Risk & Business Analytics operations, which does business under the LexisNexis Risk Solutions brand. Each company, said the CEO, comes at the fraud problem from a different perspective. Device IDs, he said, are “a valuable tool to stop card-not-present fraud.

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PYMNTS

DECEMBER 21, 2020

It’s a will that we’ve see brands and retailers try to capture all year by leveling up their loyalty offerings. Nike , for example, as of its last earnings call, was reporting big gains for its Nike Membership initiative , a free loyalty program that offers exclusive sales events, rewards points and more.

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Retail Meeting Tools Examples 263

South State Correspondent

JULY 24, 2023

The brand amplified its marketing spend by creating a consistent theme of products and partnerships that reinforced themselves. Bank Lesson : Banks should consider developing and amplifying a signature brand element through their marketing. Walk into the average branch, and it’s usually hard to discern a bank’s brand.

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PYMNTS

OCTOBER 11, 2017

lags behind other countries that have already adopted EMV card standards (so far, there are around 80 in total), it is only just beginning to see what those 80 other countries have already realized: As commerce moves online, so does crime. Shifting right along with it is the fraud landscape. The Modern Face of Fraud.

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PYMNTS

NOVEMBER 1, 2018

Before CEO Toffer Grant founded PEX , he worked in the world of prepaid cards (gift cards in particular), where Christmas was the biggest challenge of every year. Gift card use would faithfully and intensely spike around Christmas, only to settle back to a more typical baseline six to eight weeks after the “event.”.

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Innovation Management Cards Tools 180

FICO

FEBRUARY 27, 2023

In fact, this year the winning projects used FICO Platform to do everything from onboarding a customer and digitally delivering a credit card in under 5 minutes to processing 5 billion transactions with a score each day to better understand customer behaviour. You can read more about our judges in this blog post.

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PYMNTS

NOVEMBER 20, 2018

According to retailers, the shift could come through a variety of factors such as gift card fraud and the online sale of stolen items as well as a shortage of staff in stores. The demand for certain items or specific brands can also help fuel the practice. And shoppers can be even more negligent at self-checkouts.

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Retail National Survey Fraud 110

MyBankTracker

JULY 29, 2020

The Hilton Honors Aspire Card is one of four different credit cards that are co-branded between American Express and Hilton Hotels. Of the four cards, the Hilton Honors Aspire Card is considered the luxury card, and it comes with the highest annual fee of $450. Highly valuable annual travel credits.

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Cards Comparison Conference America 52

CB Insights

MAY 23, 2019

Below, we take a look at some of these frauds and the lessons they can teach entrepreneurs hoping to launch their own products, companies, and funds. Mozido’s fintech fraud fiasco. Virgin Hyperloop One’s utopian vision derailed by fraud. WrkRiot’s short-lived house of cards falls down.

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Fraud Las Vegas Company Video 78

South State Correspondent

FEBRUARY 14, 2022

Businesses and households that need an inventory, valuation, repair, or risk tracking (fraud, theft, etc.) Credit card networks like Visa, Mastercard, and American Express have created a whole layer of value by extracting this data. Digital Assets In The Metaverse and Physical World For Brand Loyalty.

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blockchain cryptocurrency Data Payments 195

PYMNTS

OCTOBER 1, 2018

It’s also the inspiration for Ondot’s work with banks to build a better bank-branded app that gives customers access to a wider array of card controls and a real-time stream of actionable data. As technology providers for the issuers, we want them to be able to communicate with their customers where they are when events happen.”.

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Data Cards Tools Regional 140

Fintech Labs Insights

FEBRUARY 26, 2024

That’s why we created this list as a reference to the real-world implementation of artificial intelligence in various financial services offerings, from banking, to investing, to credit cards, insurance, small business management, retirement planning and more. Online Digital Banks for Small Business (SMB) Feb 2024

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Fintech Fraud Cards Branding 15

PYMNTS

APRIL 24, 2018

With the advent of technology and the prevalence of online shopping, the term eCommerce fraud has become more general and more vague. It’s about the series of events leading up to that as well as a long tail of consequences and mitigations following the incident. The vast majority of fraud attacks result from these data breaches.

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How To Fraud Data Security 125

Jack Henry

OCTOBER 1, 2014

That Apple’s “ September Event ” was a media spectacle of biblical proportions goes without saying. First, mobile reinforces issuers’ card franchises. even when no physical card is present. Apple Pay’s tokenization of card data reduces fraud risk and issuer liability. “Wait, how about a tiny screen on your wrist?”

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Apple Fraud Cards Mobile 98

ZootBlog

JANUARY 25, 2017

His point was that not only are consumers using banks’ mobile apps for everyday tasks like checking balances and transferring funds, but also bigger life events like loan applications. Costco stores set up dedicated areas with computers so that consumers could contact Citi directly to resolve credit card issues.

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Lending Customer Experience Fraud Google 60

PYMNTS

JUNE 13, 2018

The brand-new Workforce Spend Management Tracker, a PYMNTS and PEX collaboration, covers the development of new workforce spend solutions and the ways they work to offer financial flexibility and transparency to both field-based workers and accounting departments. Deep Dive: Paper Checks Fall As Corporate Cards Soar.

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Tools Management Report Cards 100

FICO

OCTOBER 28, 2020

For example, FICO’s fraud business has long used collaborative profiles and behavior archetypes , an analytic construct in which customers can be grouped into a finite number of customer behavior clusters. Keep current with my latest thoughts on AI, machine learning, fraud and more on Twitter @ScottZoldi. Data Is Changing.

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How To Fraud Exercises Analytics 52

South State Correspondent

OCTOBER 4, 2023

Maybe technology and maybe fraud, but other than that, it is hard to duplicate that success rate. Consider that many banks have one person in their marketing department, and then they task that person with managing events, merchandise, and brand building. Where else can you get consistent triple-digit ROIs? Marketing can.

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Tomorrow's Transactions

JUNE 3, 2016

I’m in Frankfurt for the annual PayComm MEETS Europe, my chance to catch up with practitioners from the continental card markets. That never happened, of course, and the Commission pressed forward with a regulatory agenda, one significant part of which was the reform of the card payment market in Europe.

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Cards Marketing Regulation Course 30

PYMNTS

AUGUST 27, 2019

In a market like Brazil, he noted, most consumers don’t carry cards issued by global card brands. This is not about just taking the fraud engine you have and using it elsewhere, no matter how robust it is, it should be customized to its new market,” Saraf said.

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Payments Fraud Marketing How To 180

Gonzobanker

JUNE 30, 2016

An unfortunate turn of debit card events is happening for financial institutions unregulated by the Durbin Amendment (assets under $10 billion, which is most banks and credit unions). As the liability for fraud shifted in October 2015, it was a non-event with the exception of the largest financial institutions.

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Payments Cards United States Fraud 97

PYMNTS

SEPTEMBER 3, 2018

In June, CNBC reported that Holmes was indicted on criminal wire fraud charges— though she remains chairman of the Theranos board, despite the charges. All of this was coincident with reports of widespread app outages, with MoviePass running out of money and taking a short-term, high-interest loan just to fund member purchasing cards.

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Branding Cards Fraud Marketing 100

Gonzobanker

DECEMBER 14, 2023

Under Stuart’s leadership over the past 17 years, OnPoint has gone from under $2 billion in assets to knocking on the door of $10 billion, all while becoming the most recognized financial brand in the Portland market and achieving some of the industry’s best profitability in 2023. Oh, and along the way, OnPoint will provide an amazing $2.5

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FICO

SEPTEMBER 30, 2022

She is responsible for ensuring the organization’s consumer loan, credit card and retail SME portfolios are performing in line with targets and KPIs, leading the digital transformation in retail credit systems and leveraging the advanced analytics and decision analytic capabilities in retail credit decisions and processes. Nikhil Behl.

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