Risk & fraud management with carrier billing
Payments Dive
JULY 29, 2016
This white paper gives an overview of how fraud and risk management should be implemented for carrier billing.
A Focus On Ad Fraud And Solutions
PYMNTS
SEPTEMBER 3, 2019
Experts estimate that total fraud losses in 2018 totaled $3.9 Fraud takes many forms, from account takeover attacks to identity theft. But ad fraud might be one of the most insidious types. Some estimates range as high as $42 billion, because ad fraud is tricky to measure. Types of Ad Fraud. AI Solutions.
Fraud 
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Trending Sources
Why Using Rules Of Thumb To Predict Fraud Is A Fail
PYMNTS
OCTOBER 24, 2018
When it comes to deploying corporate resources in the battle against online fraud and account takeovers (ATOs), all too often, guiding principles fail to spot what’s really happening to a business in real time. The rule of thumb here is that after committing account takeover fraud, those fraudsters lie in wait before using the stolen account.
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Biometric Security Crucial for Fraud Protection and CX
FICO
DECEMBER 13, 2022
Biometric Security Crucial for Fraud Protection and CX. Because customers value ease of use and good fraud protection most, FIs must balance scam protection with making things easy for good customers – but not TOO easy. How FICO Can Help You Fight Application Fraud. Download the white paper on this survey.
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Fraud and Financial Crime Management Are Converging – But How Fast?
FICO
SEPTEMBER 12, 2019
A new independent survey by research firm Ovum has found that banks in multiple regions plan to integrate their fraud and financial crime compliance systems and activities in response to new criminal threats and punishing fines — but not all at the same speed. said TJ Horan, vice president of fraud solutions at FICO. South Africa.
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EBA CLEARING Introduces R2P Specs For European Solution
PYMNTS
DECEMBER 16, 2019
With the speedy delivery of these specs and the open and transparent approach for sharing them, we hope to further contribute to the creation of a forward-looking pan-European payments ecosystem taking full advantage of real-time messaging” said Erwin Kulk, head of service development and management, EBA CLEARING.
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First-Party Fraud Must Be Stopped Across the Customer Lifecycle
FICO
NOVEMBER 21, 2022
First-Party Fraud Must Be Stopped Across the Customer Lifecycle. While those in the financial services industry would term this first-party fraud, it is evident that a significant minority of people don’t think of such behaviour as unacceptable. FICO Admin. Tue, 07/02/2019 - 02:45. by Sarah Rutherford. expand_less Back To Top.
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EBA CLEARING Advances R2P Infrastructure Solution
PYMNTS
SEPTEMBER 18, 2019
17) and released a white paper about R2P and the benefits PSPs will experience by having a real-time messaging solution. “As In our white paper, we explain why our users are keen to work on request to pay and why now,” said Erwin Kulk, head of service development and management at EBA CLEARING. “We
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What Are Fraud Analytics?
FICO
OCTOBER 28, 2018
The recent fascination with artificial intelligence and machine learning has made some of us ( naturally intelligent) humans confused about the role that these technologies play in the broader field of fraud analytics. In the fraud management space, BI can be thought of as a descriptive performance reporter. Source: FICO Blog.
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Top 5 Surprises from FICO’s Fraud and Digital Banking Survey
FICO
DECEMBER 5, 2022
Top 5 Surprises from FICO’s Fraud and Digital Banking Survey. Our survey found that good fraud protection is paramount for customers - even though they themselves may exaggerate income or claims. A report released by the FTC in February 2022 indicates a 71% increase in fraud in 2021, which cost consumers roughly $5.8 FICO Admin.
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Are Banks Bringing Fraud and AML Departments Closer Together?
FICO
JULY 31, 2019
Fraud management and AML compliance are both about tackling financial crime, but often they are managed by different teams, each with their own processes and technology. On the surface there are clearly reasons why the fraud and AML compliance departments should work together. The likely benefits of convergence.
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Digital ID Proofing – Why Fraud & Compliance Must Work Together
FICO
JULY 21, 2020
As my colleague TJ Horan says in his post , the worlds of fraud and compliance are moving closer together. The objectives of the fraud department are different from those of the compliance team and traditionally they have come at the thorny issue of accurately identifying and understanding their customers from different angles.
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How to Fight Telecommunications Subscription Fraud
FICO
JULY 30, 2019
Before getting started, CSPs should determine who “own”’ and is accountable for subscription fraud. Is it the fraud team? Also, is there a clear and agreed fraud risk appetite that has exec sponsorship and is agreed by all stakeholders? In part, this is due to the ever-changing nature of fraud. Credit risk?
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What Are Fraud Analytics?
FICO
OCTOBER 29, 2018
The recent fascination with artificial intelligence and machine learning has made some of us ( naturally intelligent) humans confused about the role that these technologies play in the broader field of fraud analytics. Fraud analytics is an umbrella term covering a lot of technologies — let’s look at the two big categories.
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Fraud Detection: Applying Behavioral Analytics
FICO
JULY 10, 2018
This is the second in my series on five keys to using AI and machine learning in fraud detection. A robust enterprise fraud solution combines a range of analytic models and profiles, which contain the details necessary to understand evolving transaction patterns in real time. Key 2 is behavioral analytics.
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40 Will Real-Time Rails in Canada Bring More Fraud?
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.
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Customer Support at Abrigo Provides Peace of Mind
Abrigo
JUNE 23, 2020
We understand the trust you put in us when you use our BSA/AML and fraud software and we make the same investment in your program’s success. From day one with Abrigo, you will have a dedicated Client Success Manager (CSM) who will serve as your advocate within the company. Fraud Prevention. Fraud Trends. Fraud Prevention.
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America is slow to adopt immediate payments
Chris Skinner
MARCH 3, 2017
Just to put this in context, there are some very good white papers out there on the subject. Launched work to address the industry’s most pressing payment system security issues: identity management, data protection, and fraud and risk information-sharing. Well that research survey is now live.
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150 Vantiv, Now Worldpay: A Decision Management Maturity Rockstar!
FICO
AUGUST 1, 2018
Luckily, Decision Management (DM) technology has been invented and has come a long way since AC/DC released this epic anthem in 1975. With solutions like the FICO Decision Management Platform (DMP), the journey from novice to rockstar can be faster than a speed metal riff. trillion. Merchant Onboarding: The need for speed.
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New NACHA Rule Could Catch Payment Processors, Merchants, FIs Off-Guard
PYMNTS
MAY 10, 2019
In a new PYMNTS interview, David Barnhardt, executive vice president of product at GIACT , which offers fraud detection and account validation tools, talks about an upcoming change by NACHA, national administrator of the ACH network, to make internet-initiated debit transactions (WEB debits) safer and more seamless. New NACHA Rule.
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How AI and Machine Learning Can Fight Health Care Fraud
FICO
NOVEMBER 7, 2018
Health care payers use a variety of tools and solutions to fight fraud, waste and abuse in their fee-for-service healthcare claims. But how can they help reduce your losses to health care fraud, waste and abuse? For more information, see our white paper on Uncovering More Insurance Fraud with Analytics.
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Despite Rapid Adoption of Digital Channels, Customer Trust Lags
FICO
JANUARY 4, 2023
FICO global survey finds customers want better fraud protection and more security from their digital banking channels. FICO’s 2022 consumer banking fraud survey shows that customers are split in their thinking on when they sufficiently trust a digital channel to apply for a new account, loan, or credit card. . FICO Admin.
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As ATM Fraud Jumps, We Need ATM Profiling
FICO
OCTOBER 12, 2016
Globally, the European ATM Security Team reported a 19% increase in ATM-related fraud attacks from 2014 to 2015. Earlier this year, FICO reported a six-fold increase in US ATM fraud from 2014 to 2015. To learn more about this technology, see our white paper Putting a Wide-Angle Lens on Fraud. What else can we do?
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Six Steps to Using Biometrics to Open & Manage Accounts Digitally
FICO
APRIL 8, 2020
Increased use of biometrics to verify identity is likely to continue – so what steps need to be in place in order manage identity using biometrics? If the device profile has also changed, you know there is a potential SIM swap fraud and prevent access or invoke step-up authentication. Identity validation. Authentication.
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Too Much Security? There’s No Such Thing
PYMNTS
AUGUST 18, 2017
Between account takeovers, business logic abuse, loyalty and reward points fraud and other cybersecurity attack methods, companies are not only suffering financial damages but brand image damages too. Here are a few of the top things every eTailer should know about fraud in 2017. Card Not Present Fraud Is A Big Threat.
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131 Payments modernization: Addressing threats and assessing new opportunities
Insights on Business
AUGUST 6, 2019
Recently, IDC published a white paper, sponsored by IBM, outlining the ten hard realities that FIs and payments services providers must overcome to benefit from modernization, and how they can turn these perceived threats into opportunities. With this change comes new business opportunities. Payments modernization has arrived.
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AI and Machine Learning for Financial Crime — Now on TV (Video)
FICO
SEPTEMBER 12, 2018
While AI has been used for more than 25 years in credit fraud detection , few people outside the banking sphere were aware of this. And it’s not just fraud detection people are asking about — they also want to know about other uses of AI and machine learning for financial crime protection, including in cybersecurity and money laundering.
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45 Turning the hard realities of payments modernization into opportunities
Insights on Business
AUGUST 6, 2019
Recently, IDC published a white paper, sponsored by IBM, outlining the ten hard realities that FIs and payments services providers must overcome to benefit from modernization, and how they can turn these perceived threats into opportunities. With this change comes new business opportunities. Payments modernization has arrived.
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AI and Machine Learning for Financial Crime — Now on TV (Video)
FICO
SEPTEMBER 19, 2018
While AI has been used for more than 25 years in credit fraud detection , few people outside the banking sphere were aware of this. And it’s not just fraud detection people are asking about — they also want to know about other uses of AI and machine learning for financial crime protection, including in cybersecurity and money laundering.
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40 A Shift in the Vendor Landscape
Gonzobanker
OCTOBER 16, 2017
Even though the company had made a significant ($20 million+) investment in its fraud suite, the total package just wasn’t enough to compete. There had been a lack of innovation on the CO-OP platform as well as a significant fraud event on the IVR. A flurry of fraud related products rolled out in 2017.
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Key Innovations Boosting Corporate Banking Revenues
PYMNTS
SEPTEMBER 19, 2017
Eighty percent of treasurers surveyed identified cash management surveys as the top area under review, followed by liquidity solutions, payables, FX and commercial lending. Regardless of FinTechs and the solutions banks choose to deploy, Finastra and Celent emphasized the importance of integration.
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FICO Fact: Can unconstrained AI/ML expand access to credit?
FICO
JULY 18, 2022
FICO leverages machine learning (ML) in solutions ranging from fraud detection to marketing. To learn more about FICO’s research in the use of artificial intelligence and machine learning for credit scoring models in the financial services industry, please refer to the following white paper: [link]. . by Can Arkali.
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Address financial crime and high costs with IBM Cloud Private
Insights on Business
FEBRUARY 11, 2019
In the beginning of the cloud computing era, “private clouds” promised the scalability, flexibility and manageability of public clouds, combined with the security and control of on-premises data center environments. But some early private clouds, in fact, were neither private nor clouds.
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Deutsche Bank Acknowledges Complexity, Confusion In PSD2 Implementation
PYMNTS
NOVEMBER 30, 2017
The German financial institution (FI) recently released a white paper urging banks and account servicing payment service providers (ASPSPs) to implement PSD2-related changes and reforms within their institution. It acknowledges several hurdles FIs continue to face in that effort. 12, 2018, deadline for implementation passes.
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Four Ways Biometrics Will Evolve For Banks
FICO
MARCH 18, 2020
With acceptance of biometrics becoming mainstream, and the need for fraud protection ever front of mind, how can banks use biometrics in order to be more effective and efficient? Fraud—do you need to change your approach to thwart a change or increase in attacks. Intelligent Orchestration of Multi-Factor Authentication.
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What is Adaptive Identity Authentication?
FICO
MARCH 30, 2020
In some cases, these will be technically defined, in some cases related to social engineering and in others these contexts will be patterns of activity that indicate a higher fraud risk, for example, changing an address and requesting a new credit card. Managed Risk. is low and so are the authentication requirements.
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52 Ignite Machine Learning with Decision Rules
FICO
AUGUST 15, 2018
FICO machine learning capabilities have been around for more than 25 years, initially in fraud and credit risk, and extending to other operational and customer lifecycle use cases. White Paper: Why a Decision-First Approach Is Critical for Competitive Advantage. White Paper: 12 Secrets of Business Rules Success.
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Making the move to becoming a data-driven bank
NCR
JULY 12, 2017
When it comes to fraud detection and prevention, for example, big data analytics tools can offer banks much better, real-time insight into potentially fraudulent transactions. Such investments must also be reinforced with new policies, training, and change management initiatives.
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Rediscovering The Missing Principles Of Faster Payments
PYMNTS
MARCH 10, 2017
In a world where convergence is coming faster than any white paper can articulate, O’Connell said it’s more important than ever for payments players to ensure their payments networks are responsible, safe, secure and fair. When you have that consortium data, fraud becomes much easier to manage and stay ahead of,” O’Connell noted.
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AI Spotlight: FICO’s Machine Learning Facilitates AML
FICO
JUNE 22, 2017
At the time, Madoff had been running an elaborate Ponzi scheme through the wealth management arm of his business that reached $65 million by the time of his arrest in 2008, deliberately hiding the money intricately within the financial system. For more information, see our white paper on Advancing AML Compliance with Artificial Intelligence.
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Expected changes at CFPB under new leadership highlighted in Ballard Spahr webinar
CFPB Monitor
FEBRUARY 8, 2021
Cordray referenced an April 2020 white paper he co-authored that outlined immediate actions the CFPB could take to address the pandemic.) Chopra “his own person” and expects him to take the CFPB in new directions. He expects Mr. Chopra to vigorously pursue ways for the CFPB to support consumers financially injured by the pandemic.
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What Is First-Party Fraud?
FICO
MAY 19, 2021
What Is First-Party Fraud? From banks to telcos to debt collection agencies, what looks like unrecoverable bad debt may in fact be first-party fraud. For many people, the word “fraud” evokes images of shadowy criminals using stolen identities and purloined credit card information to commit financial crimes. by Matt Cox.
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Can FinTech Walk The FinTalk?
PYMNTS
APRIL 30, 2018
IBM’s management team described its blockchain developer toolkit as another way to make it easier for innovators to “stand up” blockchain networks. A month later, a new management team was put in place to rebuild the business. Some 750 such networks , they said, were provisioned in the first two weeks of that launch.
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Top 5 Customer Development Posts of 2020: COVID and Beyond
FICO
JANUARY 8, 2021
For FICO, customer development means working with customers through all the stages of the lifecycle – from marketing to originations to customer management. So, any use of CDRs to track where infected people have been, and then trace the people they may have come into contact with, needs to be carefully managed with regard to privacy.”.
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