The Fintech Times

FEBRUARY 26, 2024

This is precisely why, according to Gartner, 70 per cent of all planned IAM investments are expected to be funnelled into ‘converged’ solutions that provide full coverage across most, if not all, identity needs and use-cases.

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API Authentication Account Takeovers On-Demand 114

PYMNTS

FEBRUARY 26, 2020

The differences in the processes make both types of ML useful in different situations, and pairing ML with AI can mean unparalleled fraud detection capabilities at a fraction of the cost of human analysts. Many QSRs and third-party ordering apps are thus already using these tools to enhance their fraud detection procedures.

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Credential AI Fraud Detection Account Takeovers 56

Finovate

AUGUST 14, 2024

Use cases for Selfie Reverification include preventing account takeover, securing high-risk transactions, streamlining account recovery and re-verification/re-validation, and more. Founded in 2012 and headquartered in New York, Socure most recently demoed its technology on the Finovate stage at FinovateFall 2017.

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Credential FinTech Deepfake Fraud Detection 64

PYMNTS

SEPTEMBER 24, 2020

And in Asia especially, amid the battle of the super-apps, the goal is to drive as much activity through those apps and mobile wallets as possible, through QR payments in shops, lending, ride-hailing and food delivery (to name just a few use cases). For the firms that get it right, the opportunity within APAC is significant.

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APACS Risk Online and Mobile Banking Verification 98

Seon

JUNE 15, 2023

A BEC attack is when a fraudster gains unauthorized access to a business’s account. The most damaging form of BEC is account takeover (ATO) attacks. One use case of BEC is when fraudsters use compromised data to trick staff into providing further information, such as their bank details or company secrets.

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Email Compromise Compromise Business Email Compromise Risk 52

PYMNTS

FEBRUARY 22, 2019

The fallout hits everyone involved via a fraudulent transaction, and, as the data shows, account takeovers are on the rise. In this case, it’s the user who takes control of the verification process — deciding what parts of their identity, and data, a company can utilize to establish verification.

Credential 52

Credential Account Takeovers Authentication Verification 52

PYMNTS

MARCH 7, 2018

But analyzing data in motion for faster insight and action is not just limited to payment fraud or account takeover use cases. This release also features applications geared toward omnichannel payment fraud prevention, online account takeover prevention and product recommendations, among other initiatives.

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Account Takeovers Use Case Fraud Prevention SWIFT 47

Fintech Finance

MAY 30, 2024

Mangopay’s Fraud Prevention solution provides a fully integrated and payment processor-agnostic AI-driven cybersecurity solution to guard against an evolving range of threats, including account takeover by both bots and humans, reseller fraud, payment fraud, chargebacks, and return abuse.

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Fraud Prevention AI Payment APIs and Integration Fraud Detection 52

FICO

APRIL 10, 2019

The Vendor Analysis report noted that*: “While the use of AI is now prevalent across many industries and emerging use cases, FIs, in many ways, pioneered the use of AI in commercial applications.

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AI Real Time Payments Account Takeovers AML 51

PYMNTS

APRIL 22, 2020

There has been greater interest among FIs for tools that can provide the same level of service and satisfaction regardless of channel, with 88 percent of banks’ fraud executives stating that key use cases for risk assessment tools are ones that improve onboarding experiences.

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Security Online and Mobile Banking Authentication Account Takeovers 53

FICO

JANUARY 7, 2019

Each use case should be supported by expertly crafted anomaly detection techniques that are optimal for the problem at hand. In some instances, the legitimate account holder may not even spot it’s happening, particularly if its an account that they don’t regularly access themselves.

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Posting AI Fraud Detection Security 74

FICO

FEBRUARY 28, 2018

It was not much before Deep Blue, in 1992, that FICO pioneered the use of artificial intelligence and machine learning to fight credit card fraud. Fraud losses on US credit cards were reduced by over 70% since the introduction of FICO’s real-time anti-fraud analytics. FICO didn’t stop there. fraud and non-fraud) examples.

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AI Best Practices Identity Theft Account Takeovers 69

PYMNTS

NOVEMBER 19, 2019

Banks are, however, revamping their approaches to these technologies on how they may be applied outside of their typical use cases, fending off cybercriminals who have a growing number of opportunities to access online banking platforms and customer data.

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AI Online and Mobile Banking Account Takeovers Innovation 43

PYMNTS

SEPTEMBER 25, 2019

It’s a perfect storm because there are a lot of sharing use cases, there are a lot of platforms, and there are many users across those platforms,” he said. As Ritter noted, email accounts are the first avenues of attack for fraudsters. Gaining access to email gives bad actors an entry point for account takeovers.

Economy 75

Economy Verification Online and Mobile Banking Security 75

PYMNTS

APRIL 26, 2017

While chargebacks, botnets and account takeovers are some forms of fraud that merchants of all types face, luxury retailers relying on selective distribution are often a favored target for fraudsters because of the high-ticket value of the goods and, in turn, the potential reward to outweigh risk.

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AI Account Takeovers Use Case Addressing 48

PYMNTS

NOVEMBER 6, 2019

Account takeovers are also a hotspot for fraudsters, to the tune of some $4 billion per year. We encourage [users] to think about particular use cases (for that data) and make sure they are leveraging the right amount of innovation.”. After all, bad data will produce bad, misleading results. “We

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Romance Scams Account Takeovers Federal Trade Commission Fraud Prevention 41

PYMNTS

MARCH 22, 2018

They have to make decisions in a short period of time … but once they get that application in place and they have figured out how to handle that data volume and enrich the events, there’s a real opportunity to add additional use cases quickly and to have these different use cases talk to each other,” Trueblood said.

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Fraud Prevention Account Takeovers Volume Risk Management 40

PYMNTS

NOVEMBER 6, 2017

The numbers are sobering, as always: The Federal Trade Commission (FTC) has found that account takeover fraud is on the rise. Consumers must consent to the use of their data, and they also have the right to be forgotten, as companies can be ordered to wipe data.

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Security Consumer Office of the Comptroller of the Currency Identity Theft 43

PYMNTS

AUGUST 5, 2019

Perhaps that’s why, in the midst of the seemingly never-ending stream of headlines about data breaches, account takeovers, stolen credit cards and online fraud , the notion of “check fraud” seems something of an outlier for the up-and-coming fraudster looking to make a decent living. There is no option to extend availability.

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Checks Instant Payments Online and Mobile Banking Irrevocability 65

PYMNTS

AUGUST 7, 2019

There are all kinds of verification use cases, he said, that don’t quite need full AML/KYC compliance, and classification purposes as to whether the consumer is in good standing or not. Preventing mobile account takeovers of existing accounts, or recognizing and proactively thwarting identity theft are two of the most common.

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Authentication Consumer Authentication Consumer Ubiquitous 44

FICO

APRIL 8, 2020

To prevent fraud and money laundering, activities must be secured with identity checks, including: When an account is accessed. When an activity is undertaken that increases a risk of account takeover— for example, if account details such as address or email need to be changed. by Sarah Rutherford.

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Accounts Enrollments Authentication Verification 52

PYMNTS

JULY 23, 2019

According to Prideaux, what started as a one-tap payment in Boku’s carrier billing business has allowed the company to build useful tools for anyone trying to verify phone numbers and consumers’ details in a secure, friction-free way. One example is the payments services provider or merchant that receives a questionable transaction.

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Authentication Privacy Credential Compliance 40

PYMNTS

NOVEMBER 16, 2018

As PYMNTS readers are well aware, the optimism and promise that surround AI (some of it mere hype that will eventually deflate based on actual use cases, of course) are at high levels. AI, as Adjaoute explained during the interview, has the potential to reshape the banking industry and the customer service it offers.

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AI Fraud Prevention Online and Mobile Banking Money Laundering 43

Fintech Labs Insights

AUGUST 22, 2024

Spycloud : Raised $169M, cybersecurity firm focusing on preventing account takeovers, broadened offerings. Clinc: Raised $61M for its conversational-AI platform, broadened use cases beyond finance to healthcare. MX: Financial data aggregation platform, launched new tools for personal finance management.

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Online and Mobile Banking Acquirers Payment APIs and Integration AI 15

Seon

MAY 8, 2024

By using thousands of real-time device signals, from geolocation and IP information to behavioral data such as battery life, phone orientation and font count, suspicious setups and settings across desktop and mobile devices can be flagged and blocked.

Online and Mobile Banking 52

Online and Mobile Banking Fraud Prevention Account Takeovers Bots 52