PYMNTS

JULY 2, 2020

On the upside, this digital gold rush has created an opportunity for merchants to push about a decade’s worth of digital innovations out the door in weeks. He added that fraudsters have been showing up across the board in terms of fraud types attempted. Sevounts said Kount has also recently noticed an uptick in “card-testing fraud.”

Fraud 280

Fraud Cards System Tools 280

PYMNTS

JANUARY 27, 2021

Banks’ use of such innovations is predicted to expand, too, with 60 percent of FIs saying they aim to gain customers and improve customer experiences using digital channels. This increased digital presence also brings a greater risk of digital fraud, however. The Fraud Threats Facing Digital-First Banks.

Security 213

Security Innovation Fraud Study 213

PYMNTS

NOVEMBER 1, 2018

PEX issues Visa -branded debit cards, paired with a spend management app, to small businesses (SMBs) that need a solution for the part of workforce spend that is anything but predictable — related to specific tasks and, by its very nature, usually ad hoc. However, Grant added, these days, that innovation needs a lot of scaling up.

Innovation 180

Innovation Management Cards Tools 180

PYMNTS

DECEMBER 29, 2020

With digital transactions and eCommerce soaring during the pandemic, the rate of increasingly sophisticated fraud has also risen. It’s great to see the prioritization on innovation with this bill,” Wingert said, calling the AML regulatory changes important. Can you really know your customer if you don’t know their location?”

Fraud 270

Fraud Compliance cryptocurrency Security 270

PYMNTS

SEPTEMBER 24, 2020

The major cybersecurity issues that will continue to increase as digital becomes more prominent is fraudsters managing to get control of customers’ accounts,” he said. Fraud Threats To Digital Banking. Identity fraud accounted for $16.9 Leveraging Video-based Onboarding, AI To Prevent Identity Fraud.

Video 205

Video Fraud Digital Banking System 205

PYMNTS

AUGUST 21, 2020

Digital banking is reaching unprecedented levels of popularity amid the pandemic, with 89 percent of American bank customers using mobile banking apps to manage their savings and checking accounts. ATMs are common avenues for fraud, however, especially those that are running outdated software. billion by 2024.

Analytics 266

Analytics Fraud ATM Report 266

FICO

JANUARY 12, 2022

The changing global regulatory landscape and ever-shifting fraud vectors are just two of the biggest challenges facing financial institutions. I recently sat down with Sidhartha Dash, Research Director at Chartis Research, for a conversation about the technology and trends in enterprise fraud management.

Fraud 52

Fraud Technology Management Trends 52

PYMNTS

JUNE 11, 2019

Payment fraud is an ideal use case for machine learning and artificial intelligence (AI), and has been used by financial institutions (FIs) to great effect. In fact, a typical consumer who gets a fraud alert might not even know there was an algorithm working behind the scenes that spotted suspicious activity. Most FIs (63.6

Fraud 140

Fraud System Innovation Data 140

FICO

MARCH 25, 2022

While it may seem like an esoteric topic, explainability in fraud management is important – and it’s especially relevant when it comes to using AI and machine learning in fraud detection and prevention. In other words, a fraud management system isn’t a black box. My Take on Explainability.

Fraud 52

Fraud Management System Course 52

PYMNTS

FEBRUARY 12, 2020

As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetary losses. BEC fraud does not respect seniority, and it pays exceedingly well.”. billion (or slightly over half) of all losses tracked in 2019.

Fraud 253

Fraud Handbook Security Comparison 253

Perficient

DECEMBER 18, 2023

In the fast-paced realm of finance, the significance of regulatory risk and compliance management practices cannot be overstated. Reputation Management Trust is the cornerstone of the financial industry. Any erosion of trust can have severe consequences, including loss of customers and investors.

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

PYMNTS

DECEMBER 9, 2020

Managing credit risk used to be a reactive process. Bank customers would fall behind on their payments, and their banks might react by imposing fees or having a case manager work with them to bring their accounts back up to speed. In severe cases, banks might have to take the drastic measure of closing accounts altogether.

How To 245

How To Management Report Strategy 245

PYMNTS

MARCH 17, 2020

To stay competitive, especially with digital startups unencumbered by legacy systems, traditional financial institutions (FIs) need to deliver seamless customer services to individual consumers and enterprise customers alike. You don’t want to break your back-end systems,” Caldeira told PYMNTS.

Innovation 228

Innovation Payments System Security 228

PYMNTS

MAY 24, 2016

It’s no secret that, as fraudsters continue to evolve and increase the sophistication of their tactics, the­ fraud prevention landscape must do the same in order to stay one step ahead. This is where Zielke says rules-based systems fall short.

Fraud 138

Fraud Innovation Retail System 138

PYMNTS

JULY 16, 2019

False positives — instances of potential but uncertain fraud — can significantly gum up the works when it comes to anti-money laundering (AML) efforts, leading to friction and massive manual review that can eat up costs and cut into profits. We all know the system is broken,” he said. The system is not working.”. AI Disconnect.

System 143

System Fraud Data Maine 143

PYMNTS

MARCH 2, 2020

Instead, she noted, an estimated $240 billion is going out the door to fraud, waste and abuse (FWA). From those manual reviews, these highly experienced investigators create rules, monitor suspicious activity and collaborate with law enforcement to mitigate fraud in the system, she continued. Modifying the System.

Fraud 216

Fraud System Security Leadership 216

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

OCTOBER 21, 2020

Spend controls were the focus of innovation in the commercial card space this week thanks to feature and program launches. This week’s commercial card innovation tracker includes a rollout of the next generation of authorization controls from Comdata Inc., Finaxar Teams With Visa On SMB Spend Management.

Cards 130

Cards Innovation Management Fraud 130

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

NOVEMBER 9, 2017

But new research from treasury management firm Kyriba suggests treasurers and CFOs are falling short in delivering on some of the top priorities of the corporate board. More than a third (36 percent) of survey respondents said fraud monitoring and risk mitigation are the areas in which CFOs are most falling short. The Data Connection.

Risk Management 107

Risk Management Fraud Management Survey 107

Perficient

FEBRUARY 29, 2024

Going forward, banks should: Implement AI-driven systems to streamline credit decision processes, reducing decision times, and enabling faster responses to loan applications. Explore and integrate alternative data sources and innovative scoring models to offer fairer assessments of creditworthiness.

Trends 221

Trends Industry Analytics Compliance 221

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. A Proactive Approach To Friendly Fraud. Friendly fraud often develops around online promotions at restaurants.

Fraud 177

Fraud Mobile social media Customer Experience 177

PYMNTS

JANUARY 22, 2020

The nationwide debit/ATM network PULSE has tapped Jennifer Schroeder to serve as its executive vice president for product management, the company announced Wednesday (Jan. Lerdal was vice president of fraud operations and compliance for PULSE. Jim Lerdal will take over the position of executive vice president of operations.

Operations 131

Operations Management ATM Fraud 131

PYMNTS

SEPTEMBER 10, 2019

Canada’s Everlink Payment Services , a payment solution and service provider for banks, credit unions and small businesses, is strengthening its fraud controls for clients through a collaboration with ACI Worldwide. In a press release Monday (Sept.

Fraud 122

Fraud Risk Management Cards Tools 122

PYMNTS

JANUARY 26, 2021

Add “lobby and visitor management” to the list of tech industries that have seen a spike in demand as companies contend with an ever-changing list of COVID-19-era requirements needed to safely and swiftly move people and packages in and out of their businesses. Why do I need to have an automated system?’” Beyond The Front Door. “If

Management 291

Management Company US Compliance 291

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

SEPTEMBER 24, 2019

That sentiment was underscored earlier this month when South Korea said it would delist a number of altcoins from an exchange over privacy concerns – namely, the anonymous nature of the transactions are at odds with the goals of the Financial Action Task Force (FATF), which include combating money laundering and fraud.

Innovation 182

Innovation Fraud Technology Security 182

PYMNTS

JANUARY 22, 2020

The nationwide debit/ATM network PULSE has tapped Jennifer Schroeder to serve as its executive vice president for product management, the company announced Wednesday (Jan. Lerdal was vice president of fraud operations and compliance for PULSE. Jim Lerdal will take over the position of executive vice president of operations.

ATM 130

ATM Operations Management Fraud 130

The Paypers

MARCH 28, 2023

UK-based payment service provider ECOMMPAY has implemented innovative graph analysis to augment its proprietary Risk Control Management System (RCMS).

Analysis 41

Analysis Innovation Fraud Payments 41

PYMNTS

SEPTEMBER 19, 2019

A majority (55 percent) of corporate professionals identified real-time payments as their top B2B payment service priority, according to the Real-Time Payments Innovation Playbook. With innovation comes new challenges. Losses from fraud were estimated to hit $4.2 The real estate market also recently saw innovations.

Innovation 134

Innovation Payments Phoenix Security 134

PYMNTS

JUNE 26, 2020

said John Elliott , head of open banking at banking and wealth management group Investec. What we are seeing [is] continual innovation in terms of services and offerings for corporates and for individuals that are being built utilizing open banking rails.”. In the U.K., Countering a Lack of Trust in Open Banking.

System 198

System Data Security Examples 198

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. In August 2022, we commissioned a survey of 156 global executives and managers from retail banks and retail financial institutions.

Fraud 52

Fraud Data Survey Regional 52

PYMNTS

SEPTEMBER 18, 2020

We have deep dives on digital onboarding at universities, subscriptions and quick-service restaurant (QSR) friendly fraud. Players of Fortnite can now log into the video game on Apple’s sign-in system following an almost two-week prohibition. What Innovators Can Learn from Netflix . Helping QSRs Fight Food Fraud.

Fraud 141

Fraud Apple California Innovation 141

PYMNTS

NOVEMBER 20, 2019

Much of what commercial card innovators seek to address is a massive pain point for adoption: supplier acceptance. However, in this week’s Commercial Card Innovation roundup, it wasn’t the point of friction that technology firms were addressing. Check out the latest in corporate card innovation below. ”

Cards 155

Cards Innovation Fintech Payments 155

PYMNTS

MARCH 4, 2020

The time and effort lost manually filling in information, sorting through receipts and documents to track down missing details and ensuring each claimed item falls within companies’ standards stresses workers as well as the expense managers who must check each field. Bringing Innovation to a Traditional Industry.

Management 141

Management Technology Analytics Resources 141

PYMNTS

JANUARY 28, 2020

One such innovation comes from credit union service organization (CUSO) PSCU , which recently released a desktop automation system to optimize CU call centers. The system uses chatbots to improve call center agent performance by providing proactive guidance, relevant knowledge and automation sequences during calls.

Innovation 155

Innovation St. Louis Fraud United States 155