Perficient

DECEMBER 18, 2023

Legal Obligations and Regulatory Frameworks It is well-known that financial institutions operate within a complex web of laws and regulations. Operational Efficiency and Effectiveness Adopting regulatory risk and compliance practices is not merely a box-ticking exercise. This ensures a seamless and compliant global operation.

Regulation 473

Regulation Compliance Exercises Guidelines 473

PYMNTS

NOVEMBER 20, 2019

This rampant availability of users’ data makes it easier for bad actors to wreak havoc and commit fraud. She recently spoke to PYMNTS about how Scotiabank has revamped its fraud strategy in recent years. “I Scotiabank’s Three-Pronged Innovation Strategy. It is estimated that more than 4.1

Fraud 117

Fraud Data Management Analytics 117

Perficient

FEBRUARY 28, 2024

Perficient’s insurance experts, who were interviewed for this report, echo this sentiment, emphasizing the need for insurers to embrace innovation to stay relevant. Personalized Customer Interactions: By harnessing AI to analyze customer data, carriers can deliver tailored recommendations and experiences, fostering enduring customer loyalty.

Innovation 251

Innovation Regional Strategy Trends 251

PYMNTS

JANUARY 21, 2021

Melissa Townsley-Solis, head of GIACT , discusses one of the negative effects of COVID-19: the escalation of fraud in the payments arena. She stresses the importance of small businesses fighting back against fraud in 2021 in order to achieve economic recovery. Fraud was red-hot in 2020. Businesses across the U.S.

Fraud 180

Fraud social media Strategy Maine 180

PYMNTS

JUNE 4, 2019

In the old days, forged checks were the biggest problems that bank fraud departments had to manage. Today, financial institutions (FIs) face a barrage of cyberattacks from hackers operating around the world, continuously shifting their tactics. Yet, few FIs leverage this technology in their anti-fraud efforts — only 5.5

Fraud 195

Fraud System Study Comparison 195

PYMNTS

OCTOBER 14, 2019

Money laundering and similar forms of fraud have become more concerning for FIs as reports of cybercrime circulate globally. dollar as their currency of choice on the black market, which means American banks must alter their anti-fraud and AML strategies — especially as regulatory fragmentation divides the U.S.

Strategy 109

Strategy Fraud Innovation Regulation 109

PYMNTS

SEPTEMBER 18, 2020

This week's look at payment rail innovation is all about speed, both for legacy rails and new ones. Combining these elements, we are creating a broad platform with faster technology and smarter and better services that the industry can trust as a foundation for innovation towards their own end-clients," he added.

Innovation 291

Innovation Payments cryptocurrency Cards 291

Cisco

APRIL 26, 2022

The future of financial services will be shaped by the ability of financial institutions to extract and deliver more customer value from data. Those opportunities will rely on data and analytics for real-time decision making. Those ecosystems could add up to a $60 trillion integrated network economy by 2025, according to McKinsey.

Big Data 148

Big Data Data Analytics Examples 148

Independent Banker

NOVEMBER 30, 2021

As more customers moved online, fraudsters took advantage of new and increasingly inventive opportunities to commit remote authentication fraud. Say a scammer calls a community bank customer and gains their trust by using information obtained from a major data breach. Examples of remote authentication fraud. New account fraud.

Fraud 160

Fraud Strategy Community Bank New York City 160

PYMNTS

MARCH 20, 2020

Open banking’s impact on small- to medium-sized businesses (SMBs) continues to proliferate as traditional financial institutions (FIs) embrace the opportunity to unlock data for third-party platforms. Unlocking data also means an easier bank-switching process for SMBs in search of improved borrowing processes. In the U.K.,

Lending 233

Lending Data User Experience Fraud 233

FICO

NOVEMBER 16, 2022

Enterprise Fraud Solution Buyers Want More Agility, More Data. Our recent global survey reveals the investment priorities and functionality requirements for enterprise-level fraud solution buyers. Investing in Fraud Prevention and Detection. FICO Admin. Tue, 07/02/2019 - 02:45. by Andrew Manuel. expand_less Back To Top.

Fraud 52

Fraud Data Survey Regional 52

PYMNTS

NOVEMBER 19, 2020

This shift has prompted many eateries to rely on emerging tools like artificial intelligence (AI) to better manage various aspects of their operations as consumers transact remotely. The technology is also credited with helping them meet diners’ demands for seamless purchasing experiences as well as enabling them to battle fraud. .

Boston 200

Boston Fraud Meeting Mobile 200

PYMNTS

JUNE 13, 2019

Countering digital fraud is a lot like playing whack-a-mole: As soon as one fraudster is taken out, two more pop up where they’re least expected. The popularity of digital banking services has created ample opportunities for bad actors, leaving banks scrambling to protect themselves against the rising tide of fraud.

Fraud 128

Fraud Analytics New Jersey Data 128

PYMNTS

AUGUST 21, 2020

Mobile banking is under constant attack from fraudsters, however, who are targeting both customers’ funds and personal data, such as account numbers, Social Security numbers, payment card data and login credentials. ATMs are common avenues for fraud, however, especially those that are running outdated software. billion by 2024.

Analytics 266

Analytics Fraud ATM Report 266

PYMNTS

OCTOBER 2, 2020

Adhering to Payments Card Industry (PCI) Data Security Standards (DSS) is an unavoidable requirement for any and all eTailers that accept card payments, but a surprising number of firms are not up to speed on these standards. Either way, firms that do not comply with these industry standards risk leaving their customers’ data exposed.

Compliance 243

Compliance Data Report Meeting 243

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 has the unfortunate side effect of enabling opportunistic fraudsters to more easily swipe that data if they gain access, however. One recent breach at U.S.

Data 181

Data Fraud Tools Technology 181

PYMNTS

OCTOBER 6, 2020

A fact of our new reality that has snapped sharply into focus over the last half year as restaurants of all sizes and descriptions have had to rapidly reset their operations for a world where restaurants were first closed down entirely and, even when they reopened, customers have remained reticent about dining out. Fraudster In Many Forms .

Fraud 195

Fraud Data Mobile Cards 195

PYMNTS

JULY 27, 2020

It’s a landscape that has created an opportune environment for technological innovation. But how can a five-year-old digital native really stack up against companies that have been operating for decades — or even centuries?

Innovation 247

Innovation User Experience Industry Fraud 247

PYMNTS

JULY 25, 2017

Within the retail industry specifically, artificial intelligence (AI) is moving the ball for a lot of merchants looking to not only streamline their business operations but provide a more personalized experience for consumers. Machine learning applies AI to take up-to-date data to help improve upon an experience without any human interaction.

Fraud 196

Fraud Online Retail Maine 196

PYMNTS

JUNE 22, 2017

There’s another way, though, in which the fear of fraud bears down on the enterprise. A new report from Vesta Corporation finds fraud positions itself in the way of innovation and growth, even compliance. to understand how payments fraud is limiting corporates’ path to success. cents per every $100 transacted.

Fraud 108

Fraud Innovation Survey eBook 108

PYMNTS

JUNE 6, 2017

From some guy’s garage in San Francisco, a group of math nerds has grown into one of the world’s finest-tuned machine learning operations. SigOpt now helps optimize fraud detection and investments like beer brewing and even the manufacturing of synthetic rhino horns. PYMNTS: Can you explain the business?

Operations 168

Operations Tools Data San Francisco 168

PYMNTS

APRIL 15, 2019

Not every innovation is a good innovation. The marketplace operators sell the data to cybercriminals who use it for identity theft, online fraud and other crimes – and the data is worth anywhere from $5 to $200. The extension is free and allows users to import the data they bought from Genesis.

Fraud 129

Fraud Data Security Ohio 129

Perficient

FEBRUARY 22, 2023

AI is increasingly being used to automate a variety of tasks in financial services institutions, including customer service, fraud detection, and loan applications. Banks are using AI to analyze large amounts of data, make predictions, and automate complex processes. We’re observing the banking industry’s growing use of RPA.

Trends 474

Trends North Carolina Customer Experience Charlotte 474

PYMNTS

SEPTEMBER 21, 2020

Consumers are using mobile apps’ order-ahead features and loyalty perks more often during the COVID-19 pandemic, yet chargeback fraud — also known as friendly fraud — is unfortunately also rising. Mobile ordering is at the center of business operations for Blaze Pizza and many fast casual dining chains today.

Fraud 177

Fraud Mobile social media Customer Experience 177

PYMNTS

JULY 2, 2020

Although CU members want innovation in member loyalty and rewards, most credit unions are not delivering these programs up to the desired standards. Credit union members’ high expectations when it comes to loyalty innovation do not necessarily make or break their banking relationships. Loyalty Innovation Strategies .

Innovation 155

Innovation Branding Tools Innovation Strategies 155

PYMNTS

FEBRUARY 24, 2020

But even restaurants that are leveraging mobile ordering are being faced with more avenues for fraud to enter. Many expansions like these, however, are halted by the encroaching possibility of fraud. Such developments bring their share of challenges, including the threat of fraud, but pan-Asian eatery P.F. About the Tracker.

Data 214

Data Fraud Mobile Florida 214

PYMNTS

JULY 10, 2020

Thanks to a lowered barrier to access banking services, more legal cannabis companies — often small businesses — are able to accept digital payments from their consumers, a shift that Muller noted is encouraging the owners of these companies to expand into their B2B operations as well. But current legacy rails can make this difficult.

Innovation 210

Innovation Payments Tools Compliance 210

PYMNTS

JULY 23, 2019

Following mandates by the Reserve Bank of India (RBI), PayPal is opening a tech center in Hyderabad to ensure all data is stored exclusively on local servers. In April 2018, the RBI set a six-month deadline for payment firms to comply with data localization. .

Data 134

Data Fraud Risk Management Google 134

PYMNTS

SEPTEMBER 30, 2016

Fraudsters have been causing problems for retailers over the past four quarters, leading to a 137 percent jump in fraud attacks and affecting $7 out of every $100 made in retail sales, according to the latest PYMNTS.com Global Fraud Attack Index. The collaborative study with Forter measures the rate of fraud attempts made on U.S.

Fraud 100

Fraud Data Cyber Security Study 100

PYMNTS

JULY 25, 2019

Customers have varying banking needs, but the global fraud phenomenon tends to have equal impacts. Challengers see fraud protection as especially important, particularly as they attempt to ween customers away from legacy FIs and their own nimbler FinTech competitors. Bringing a global fraud approach to a new local market.

Fraud 164

Fraud Marketing US Resources 164

PYMNTS

JULY 29, 2019

The big deal is now complete: Fiserv announced this morning (July 29) that it has completed its acquisition of First Data Corporation. The two massive firms first inked the deal earlier this year, which will see Fiserv purchase First Data for $22 billion in an all-stock transaction. He also noted that outside the U.S.,

Data 185

Data Leadership Taxes System 185

PYMNTS

DECEMBER 19, 2019

An explosion of FinTech innovation has jump-started traditional financial institutions’ (FIs) digitization efforts. Yet, each of these strategies to modernization is a double-edged sword, exposing a bank — and, thus, its partners and customers — to a new breed of fraud risks. ” Innovation’s Security Downsides.

Fraud 104

Fraud Payments Security Fintech 104

PYMNTS

SEPTEMBER 17, 2020

“We are innovating the underlying infrastructure that financial institutions use to make transactions run even faster end-to-end, and at the same time further reducing costs for the community through industry-shared services in the areas of cyber, fraud and compliance," said Javier Pérez-Tasso , SWIFT’s CEO, in a statement. “We

Innovation 348

Innovation Payments Compliance Data 348

PYMNTS

MAY 7, 2020

Emerging uses of adaptive AI and other new tech is set out in the new FI Fraud Decisioning Playbook , a PYMNTS and Simility collaboration, as financial institutions (FIs) and their clients ready for reopening by modeling good customer behavior to help identify bad actors. Learn by Example. Automate to Validate .

Fraud 248

Fraud Tools Data Examples 248

PYMNTS

MARCH 8, 2019

It’s one of the main clichés of the early 21 st century, but that doesn’t mean it’s wrong: Data is the new oil. However, as is the case with any powerful, profitable substance (whether tangible or not), data can be dangerous if not used appropriately. The problem is fear of data monetization gone wrong (more about that in a bit).

Data 170

Data Strategy Maine Compliance 170

PYMNTS

JUNE 26, 2019

Anti-money laundering, data security, mobile/digital payments, fraud-fighting and payment tech rounded out the top five — with each ranking as a lead priority for over 50 percent of credit union executives. percent) of credit union executives naming it as an innovative top priority. Where Analytics Are Working.

Analytics 118

Analytics Data Tools Fraud 118

PYMNTS

APRIL 1, 2019

It’s a statement borne out by the new Credit Union Innovation Playbook , a PYMNTS/ PSCU collaboration. They very naturally want to see those types of innovations incorporated into their banking relationships. According to this survey of credit union customers, an overwhelming 81.3 But, Lynch noted, it is still a starting point.

Innovation 141

Innovation Fintech Fraud Security 141