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Fraud risk could run to billions in PPP loans

Bank Innovation

Last week saw banks and fintechs scrambling to stand up platforms to process Paycheck Protection Program loans, and now the struggle is to keep the platforms running while weeding out potentially fraudulent applications. Fraud is a common trend with government relief programs.

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How Scotiabank Manages Fraud Protection For A Data-Driven Future

PYMNTS

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

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COVID-related fraud spike pushes banks, fintechs to innovate

BankInovation

The COVID-19 pandemic has accelerated the move toward digital banking platforms, but this has come with an increased risk for fraud. The percentage of risky worldwide transactions in the financial services industry increased by 11% since early March, according to a recent TransUnion study.

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Startups to take the stage at Bank Innovation Ignite

Bank Innovation

Bank Innovation has hand-selected 10 companies to participate in its DEMOvation Challenge at Bank Innovation Ignite, which runs from March 2-3 in Seattle. The companies focus on a variety of use cases including customer acquisition, loan underwriting technology, conversational AI, fraud prevention, and other digital capabilities.

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Where Credit Unions Invest To Get The Best ROI

PYMNTS

In many cases, it also requires partnering with emerging FinTechs that are able to quickly deliver the innovations members want most. Artificial intelligence (AI) is another innovation quickly gaining ground in the CU market. As outlined in the May 2019 PYMNTS Credit Union Innovation Playbook , 79.4 About the Tracker.

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REPORT: Payment Tech Tops FIs’ Innovation Agendas

PYMNTS

We also analyzed how the areas that FIs are focusing on relate to such factors as level of investment, on-time performance and innovation strategy. Payment technology is in many ways the flagship among the fleet of innovations that banks are pursuing.

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Finovate Fall 2016 Live Blog – Day 1

William Mills

Their API is already integrated in a few core systems and other fintech necessitates. 03:04 pm Experian Fraud & Identity – https://www.experian.com/decision-analytics/identity-and-fraud/fraud-and-identity.html – @Experian – Adam Fingersh – GM and SVP, Fraud and Identity Solutions & John Sarreal.

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