PYMNTS

SEPTEMBER 19, 2019

Machine learning (ML) and artificial intelligence (AI) have been used by banks for fraud protection for several years, but these technologies are just starting to take on main roles: They are now displacing traditional knowledge-based authentication (KBA) methods like PINs and passwords.

Fraud 144

Fraud Data Mobile Tools 144

PYMNTS

SEPTEMBER 6, 2018

There also is what is being billed as a “plugin knowledge base” that offers implementation and reference guides, along with videos. The store is self-serve, which means that customers can select a plugin, try a demo, pay with a credit card, and be off and running.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

FICO

JULY 21, 2019

The use of static card details such as PAN and CVV has been ruled out of use as both a knowledge-based factor and as a possession factor — somewhat contrary to an earlier opinion from the FCA. Asking questions based on known information about a customer — such as mother’s maiden name, date of birth or first pet’s name — will not do.

Knowledge Base 40

Knowledge Base Conference Analysis Security 40

FICO

JULY 21, 2019

The use of static card details such as PAN and CVV has been ruled out of use as both a knowledge-based factor and as a possession factor — somewhat contrary to an earlier opinion from the FCA. Asking questions based on known information about a customer — such as mother’s maiden name, date of birth or first pet’s name — will not do.

Knowledge Base 40

Knowledge Base Conference Analysis Security 40

FICO

JULY 22, 2019

The use of static card details such as PAN and CVV has been ruled out of use as both a knowledge-based factor and as a possession factor — somewhat contrary to an earlier opinion from the FCA. Asking questions based on known information about a customer — such as mother’s maiden name, date of birth or first pet’s name — will not do.

Knowledge Base 40

Knowledge Base Conference Analysis Security 40

PYMNTS

JULY 26, 2017

At the end of the year, a new regulation called the second Payment Services Directive (PSD2) will officially take effect, requiring banks, credit unions, financial institutions and FinTech companies across the continent to change the way they conduct business. The update comes nearly a decade after the first regulation took effect.

Regulation 110

Regulation Fintech Data Security 110

PYMNTS

JUNE 11, 2020

What is new is the way in which the technology is being incorporated into businesses’ broader efforts to comply with relevant AML/KYC regulations to help mitigate identity theft and fraud and the legislation being adopted to support those technologies and govern the ways they are implemented.

Compliance 186

Compliance Guidelines Meeting Tools 186

Abrigo

MAY 19, 2017

Ensuring proper documentation and loan portfolio management with an automated loan administration and tickler tracking system allows credit unions to collect and store member data in one place, which will be quite handy for regulators during exam time.

Lending 150

Lending Analysis Knowledge Base System 150

PYMNTS

OCTOBER 10, 2019

Rising Know Your Customer and other risk mitigation regulations have the financial services world eyeing digital identity technology. Already seeping into the consumer services world, digital identity technology is expected to hit a $12.8 billion valuation by 2024, according to the latest PYMNTS Digital Identity Tracker.

Strategy 124

Strategy Lending Knowledge Base Tools 124

PYMNTS

MARCH 14, 2017

As banks and payments companies endeavor to meet anti-money laundering (AML) regulations to avoid hefty fines for non-compliance, easily identifying customers in the digital channel becomes paramount to their success. Some “old school” methods that worked in the past aren’t working anymore. In the U.S.

Meeting 111

Meeting Fraud Knowledge Base User Experience 111

PYMNTS

DECEMBER 26, 2016

.; and also meet the growing ID verification requirements under ant-money laundering (AML) regulations. As a result, authentication and identity verification practices that rely on data only, such as passwords and knowledge-based authentication questions, have been scrutinized and are largely seen as no longer sufficient.

Mobile 109

Mobile Payments eBook User Experience 109

PYMNTS

OCTOBER 7, 2019

government has strict standards regarding credit check regulations, and Nav’s investor and partner Experian sets its own expectations. Nav’s primary tool in determining that authenticity is Experian’s Precise ID platform, which leverages knowledge-based authentication (KBA) by asking users questions about their credit reports.

Tools 101

Tools Data Security Fraud 101

Gonzobanker

MAY 7, 2018

Banks in the future will address areas with a narrow span of control and evolve to the player/coach leadership models seen more in professional service firms than in traditional, regulated financial institutions. Want to strip back the onion? We are entering an era where revenue growth will be more difficult as loan growth slows.

Leadership 87

Leadership Operations Lending Strategy 87

ZootBlog

NOVEMBER 11, 2015

In today’s environment, as banks manage increased regulation and competition from industry outsiders, they must operate in the same fashion. Alternative lenders collect data from different sources than traditional banks (such as social media interactions) and continuously update their risk management knowledge base with new sources of data.

Innovation 60

Innovation Fintech social media Knowledge Base 60

PYMNTS

MAY 15, 2018

For instance, knowledge-based authentication is well-understood by users – but the answers to security questions can be socially engineered without too much trouble just by visiting victims’ social profiles. With such a complex path to IDV nirvana, there are a few things Patel noted that organizations should bear in mind.

Fraud 129

Fraud Training Security Compliance 129

PYMNTS

JANUARY 28, 2020

10, with new regulations for cryptocurrencies, wallets and exchanges. Issuers, merchants, payments service providers (PSPs) and other interested parties are closely watching developments in AML/KYC and counter terrorist financing (CTF) regulations, as governments worldwide clamp down strongly on identity scams. Know Your Criminals.

Compliance 151

Compliance cryptocurrency Fraud Regulation 151

FICO

OCTOBER 26, 2021

On the other side, you have FinTechs – they are much smaller and less regulated, but they have the digital savvy to steal customers and they’re taking advantage of market gaps in innovative ways. On one side, you have big banks with big budgets and market dominance – but according to a recent survey by Accenture , only 29% of U.S.

Analytics 52

Analytics Community Branding Data 52

PYMNTS

SEPTEMBER 12, 2019

Regulators within the EU are looking to give merchants a bit more time when it comes to SCA, despite the deadline being immovable. The regulator is thus looking for ways that it can grant merchants more flexibility when it comes to SCA requirements. For more on PSD2 and GDPR, visit the Tracker’s News and Trends. About the Tracker.

Regulation 126

Regulation Google Compliance Knowledge Base 126

Abrigo

MAY 8, 2024

Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. Another reason for reluctance about generative AI is the highly regulated nature of banking. Takeaway 2 Generative AI models emulate data put into them to generate apparently new content such as text, images, audio, or video.

Examples 195

Examples Fraud Resources Risk Management 195

Fintech Labs Insights

SEPTEMBER 29, 2016

Stuut: To enable these markets to foster, regulations are being put in place that force compliance with KYC and address AML. Stuut: Jumio replaces laborious and unreliable systems including knowledge-based authentication (KBA), inferred verification, and in-person verification by untrained individuals.

Security 12

Security Mobile Industry Knowledge Base 12

PYMNTS

MAY 31, 2018

The European Union’s General Data Protection Regulation (GDPR) went into effect on May 25, and with that, everyone has been worrying about the collection, usage and storage of personal data. Regulations. End User Experience. Kilb said there are two ways the ATM approach could help.

ATM 109

ATM Data Security Regulation 109

PYMNTS

APRIL 11, 2017

The reason Yahoo was targeted, said Geiman, was because bad guys wanted to get the answer to knowledge-based questions. Initial enrollments may happen online, added the executive, where regulatory hurdles must be leapt, for identity verification, at the front end.

Data 101

Data social media Fraud Online 101