NCR

MARCH 1, 2016

As a result of the recession and market volatility, there has been a concerted effort in recent years throughout the banking industry to focus on a holistic approach to an institution’s overall risk management in order to achieve and sustain stability. Operational risks transcend all departments of a bank.

Risk Management 40

Risk Management Management Operations Meeting 40

Abrigo

MAY 10, 2021

Takeaway 2 Process management features of a loan origination system help manage the workflow, from analysis through closing. Takeaway 3 Aite Group assessed client references to evaluate vendors of loan origination systems and important features. LOS process management features. Beyond Origination. Workflow & Analysis.

System 195

System Lending Analysis Software 195

FICO

AUGUST 3, 2022

Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. Synthetic Identities and Application Fraud. Innovative Customer Communications for Fraud. Tue, 07/02/2019 - 02:45. by TJ Horan.

Fraud 52

Fraud Analytics Trends Innovation 52

Abrigo

SEPTEMBER 11, 2023

Takeaway 2 AI can lead to more accurate and consistent outputs or predictions, better risk management, and improved customer experiences. DOWNLOAD Takeaway 1 With generative AI technology improving by the day, the question is not if the banking industry will utilize it, but when. So, what is generative AI?

Risk Management 195

Risk Management Data Technology Fintech 195

FICO

NOVEMBER 5, 2018

Countries that already have real-time payment schemes have had to manage the related crime. The ‘ Modernization Target State’ lays out Payments Canada’s vision for the future and it does talk about fraud prevention. The post Will Real-Time Rails in Canada Bring More Fraud? appeared first on FICO.

Fraud 40

Fraud Risk Management Payments Strategy 40

FICO

AUGUST 16, 2019

First-party fraud refers to an applicant or customer’s intention to commit fraud, whether through use of a true, manipulated or synthetic identity. It’s difficult to define the problem and many banking professionals debate the merits of who “owns” the first-party fraud problem — the credit risk group or the fraud group.

Fraud 40

Fraud Analytics Groups Management 40

PYMNTS

SEPTEMBER 26, 2019

While artificial intelligence (AI) has been referred to as a lifesaver many times on these pages, usually it is a figure of speech. And that AI’s potential, wherever it is applied, is going beyond the constraints of the systems and tools of the past — to a future that manages to both have fewer risks and create less friction for the consumer.

Fraud 158

Fraud System Tools Data 158

CFPB Monitor

JUNE 30, 2022

Of special note, the OCC also believes compliance risk is “heightened” for Bank Secrecy Act/Anti-Money Laundering (BSA/AML) and Office of Foreign Assets Control (OFAC) compliance because of world events and compliance staffing concerns. BSA/AML Compliance Risks.

Compliance 78

Compliance Fraud Technology Operations 78

PYMNTS

NOVEMBER 30, 2018

Understanding risk, particularly its sources and how to most effectively manage it, is one of the most fundamentally important topics in payments for those who provide services and those who use them. On one level, risk itself has not fundamentally changed in the last few decades,” Aberman explained. The Expanded World Of Risks.

Risk Management 162

Risk Management Management Payments Fraud 162

Abrigo

DECEMBER 30, 2019

This is a must-have risk management concept. BSA officers should be confident in their position and ready to share this advisory with leadership and the Board if the institution is at risk. Are you proactively monitoring the Dark Web to better protect against fraud? Fraud Prevention. Fraud Trends.

Training 195

Training Compliance Leadership Fraud 195

PYMNTS

MAY 15, 2017

In an interview with PYMNTS’ Karen Webster as part of the continuing Topic TBD series, Gayle Woodbury, managing director at Crowe Horwath with Ops Risk, Third-Party Risk, and eGRC strategy, focused on risk for third parties where “cybersecurity seems to be an ever-changing topic.”. “It

Risk Management 108

Risk Management Management Strategy United States 108

PYMNTS

MARCH 29, 2019

The goals of any digital identity verification process or technology include stopping fraud in its tracks, preventing fake accounts from ever being opened and, at the most basic level, maintaining (and even building) a client’s reputation for trustworthiness. Are end users ready to manage their own IDs? The Sovereign Model.

Handbook 171

Handbook Compliance Online Data 171

PYMNTS

OCTOBER 10, 2018

One of the biggest problems with wire, particularly in the B2B payments space, is its target for fraud, and the Federal Bureau of Investigations (FBI) says instances of business wire fraud, commonly referred to as the business email compromise, are climbing. Thieves attempted to steal $5.3

Fraud 116

Fraud Compliance Innovation Payments 116

FICO

DECEMBER 17, 2020

According to a recent report , the total of cryptocurrency related frauds and thefts stands at a staggering $7.69b. billion of losses stemming from fraud, scams, and misappropriation of funds. This includes $2.8 billion lost in exchange theft and security breaches, and $4.8

cryptocurrency 52

cryptocurrency How To blockchain Analysis 52

PYMNTS

APRIL 30, 2019

Writ large, said Eleveld, the payments industry will likely see card-not-present fraud shift from Europe to more distant shores, where less strict authentication processes are in order. Geographically speaking, in a post-PSD2/SCA world, eCommerce fraud may shift, he said, to places like Latin America and the Asia Pacific region.

Fraud 171

Fraud Online Cards Payments 171

PYMNTS

AUGUST 25, 2016

Early Warning specializes in fraud prevention and risk management with a focus on providing instant money transfers among big banks. Nor, apparently, did it have any comment as to whether it was a reference to the Urban Dictionary definition of Zelle as a girl who is both attractive and intelligent.

Millennials 100

Millennials United States Mobile Risk Management 100

PYMNTS

MAY 16, 2019

There are also cases when there is a possible security breach or fraud event, when the customer service team must really “rise up and directly attend to the consumer,” he said. Regardless of demographic, consumers almost universally want those types of issues to be dealt with directly, personally and immediately.

Millennials 189

Millennials Technology US System 189

PYMNTS

MAY 16, 2019

Or, Rowan noted, there are cases where there is a possible security breach or fraud event, when the customer service team really has to “rise up and directly attend to the consumer” – because regardless of demographic, consumers almost universally want those types of issues dealt with directly, personally and immediately.

Millennials 172

Millennials US System Security 172

PYMNTS

OCTOBER 10, 2016

That’s due to the capabilities of risk management, fraud detection and prevention and compliance within data analytics solutions. And it’s not just large enterprises ready to open their wallets to data tech; SMEs are expected to make up a quarter of Big Data spend by the end of the decade.

Big Data 100

Big Data Analytics Data Survey 100

FICO

JULY 15, 2022

In fact, top performers are now either partially or fully delivering automated claims management underpinned by a cloud infrastructure. Optimization and automation often get referred to in the same breath. Augmenting Claims Management. Why Optimization Goes Hand-in-Hand with Automation. To find out more, click here.

Customer Experience 52

Customer Experience Analytics Management Strategy 52

Gonzobanker

NOVEMBER 17, 2016

My colleague Ryan Rackley summed it up perfectly when he referred to social media as the “new tattoo.”. While consumers and payment providers may hope for frictionless payments, the execution path will require new capabilities and deployments in fraud mitigation, cyber security, open APIs, and enhanced interoperability.

Payments 60

Payments Las Vegas Risk Management Cyber Security 60

Insights on Business

AUGUST 28, 2019

In our webinar yesterday, the first in the series AI Fraud Detection — Beyond the Textbooks , we ran out of time and weren’t able to address some great questions we had from the audience. What rules or models can you recommend to detect push-payment fraud”? Here’s why: All fraud models are predictors. Great question!

Fraud 93

Fraud Training Cards Data 93

Insights on Business

AUGUST 28, 2019

In our webinar yesterday, the first in the series AI Fraud Detection — Beyond the Textbooks , we ran out of time and weren’t able to address some great questions we had from the audience. What rules or models can you recommend to detect push-payment fraud”? Here’s why: All fraud models are predictors. Great question!

Fraud 70

Fraud Training Cards Data 70

FICO

JANUARY 19, 2022

From TBML to BNPL to NFTs, 2021 found fraud and financial crime professionals dealing with a plethora of new challenges and criminal schemes. Our five most popular posts of the year dealt with trade-based money laundering, non-fungible tokens, buy now pay later scams, courier scams and good old credit card fraud. Here are excerpts.

Fraud 52

Fraud Cards Report Analytics 52

Gonzobanker

DECEMBER 17, 2021

Congrats to Randy and a great management team. Simultaneously the bank invested in Paladin Fraud, Trabian Technology, and Chartwell Compliance to provide compliance and risk management solutions in the complex and connected web of fintech partnerships. GonzoBanker of the Year – Credit Union. Has it worked?

Fintech 147

Fintech Strategy Leadership Lending 147

PYMNTS

JUNE 9, 2017

In an interview with PYMNTs after a webinar by the pair titled, “Financial Services Innovation — The Risk of New vs. Nothing,” John Epperson, principal at Crowe Horwath LLP, and Jason Henrichs, managing director at FinTech Forge , discussed the challenges and rewards of embracing change, even as firms are mindful of what works.

Innovation 109

Innovation Compliance Technology Data 109

PYMNTS

JANUARY 20, 2020

Visa’s culture that risk management is everyone’s responsibility, Fabara said, is a competitive advantage and a strategic weapon in the payment ecosystem’s fight against an ever-more sophisticated fraudster. It has motivated a different approach for fighting fraud in the 2020s and beyond.

Security 168

Security Fraud Risk Management Payments 168

Fintech Labs Insights

DECEMBER 20, 2016

And once a company is able to tell good users from bad, he said, “all the other technological attacks that are available, such as identity theft, account takeover, new account fraud … become very easy to deal within this framework.”

Security 12

Security Fraud Risk Management Technology 12

CFPB Monitor

NOVEMBER 22, 2022

The Federal Reserve, FDIC, and OCC should finalize the interagency guidance for banks on managing risks associated with third-party relationships that was proposed in July 2021. This includes IDIs acting as lenders in bank/fintech partnerships.

Fintech 78

Fintech Report Data Lending 78

PYMNTS

NOVEMBER 30, 2018

HSBC , one of the largest banks in the world, wants to launch its new cloud-based anti-money laundering risk management system by next year, according to Reuters. The system cross-references customer actions and flags unusual activity for review. It will enable us to have consistency in how we do [anti-money laundering].”.

Google 179

Google System Data Risk Management 179

PYMNTS

JANUARY 27, 2017

Those tangible items can also be gateways to fraud. In an age where bits and bytes are continually encroaching on the things we carry, the question becomes: How are our digital identities shaped, and just who (or what) should hold the key to managing those identities? And in the U.S., government and firms that are being regulated.

blockchain 100

blockchain Security Guidelines Fraud 100

FICO

APRIL 19, 2021

In an interesting choice of words, Forbes refers to the offering as a potential “gateway drug,” presumably to direct cryptocurrency investing. Risk management for cryptocurrencies, including addressing indirect risk faced by clients’ crypto activities and evolving global regulatory considerations. by Doug Clare.

cryptocurrency 52

cryptocurrency Bitcoin Compliance Resources 52

PYMNTS

JULY 5, 2018

In eCommerce, for example, card-not-present fraud has climbed 250 percent since 2012. That growth in fraud isn’t just increasing costs; it’s also blunting growth in digital retail channels. The problems of security, data breaches, identity verification and user authentication just keep getting bigger. Network Tokens.

Cards 104

Cards Fraud Security Data 104

Gonzobanker

DECEMBER 22, 2014

Rise of the Analytics Organization in a Dog-Eat-Dog World – Brush off your resumes Gonzoanalysts, at our client roundtables we heard about analytics organizations being formed and analysts and managers being hired to head them. And won’t address the biggest area of fraud growth, which is card-not-present. Bring out your dead!

Los Angeles 101

Los Angeles Apple Risk Management California 101

Gonzobanker

DECEMBER 22, 2015

Bank project management offices. A phenomenally successful $50+ billion private/wealth management bank with a customer list to die for probably won’t hurt on the reference list. Roboadvisor Future Advisor acquired by establishment asset management giant BlackRock for $150M. Vendor management. “I Just asking.

Community Bank 60

Community Bank Apple Community Technology 60

FICO

NOVEMBER 23, 2020

Customer identification procedures – fraud and money laundering prevention. Monitoring of transactions – fraud and money laundering prevention. Risk management – across all elements of the customer lifecycle. This will be new territory, not only for these customers buts also for risk teams. by Huw Vaughan.

Strategy 52

Strategy Analytics Survey Data 52

Abrigo

FEBRUARY 15, 2023

From a transaction-monitoring perspective, the risk and fraud departments should look for rapid transfers between accounts, money mule activity, and transactions with no reasonable explanation for action or source of funds. Fraud - Fraud is believed to be the largest generator of proceeds for criminals in the U.S.

Fraud 195

Fraud United States Training Policies 195