The Fintech Times

JUNE 1, 2024

Even worse, the fraud landscape shows no signs of improving, as bad actors increasingly utilise AI to increase the damage done to financial organisations. Meanwhile, the fraud landscape is rapidly changing. Over a third of fraud attempts (42.5 Overall, around 29 per cent of these AI-driven fraud efforts are successful.

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SWIFT AI Fraud Detection Fraud Prevention 124

The Payments Association

FEBRUARY 19, 2024

Artificial intelligence’s impact on the payments landscape is nothing short of transformative – from personalised customer experiences and seamless cross-border transactions to enhanced security and prompt fraud detection, AI-driven innovations […] Read more

AI 88

AI Fraud Detection Transactions Cross-Border 88

Fintech News

JUNE 2, 2024

Swift, the global financial messaging cooperative, has announced two AI-driven experiments in collaboration with member banks to combat cross-border payments fraud which could potentially save the industry billions in fraud-related costs. Fraud cost the financial industry US$485 billion in 2023.

Cross-Border Payments 107

Cross-Border Payments Cross-Border SWIFT AI 107

Fintech Finance

AUGUST 15, 2024

Sionic , a leading provider of real-time, Pay-by-Bank Commerce (PbBC) services, today announced the launch of its comprehensive fraud detection and mitigation service built exclusively for real-time, bank-to-bank payments at checkouts, whether online, mobile or in-store.

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AI Fraud Detection Technology Real Time Payments 97

Fintech News

APRIL 28, 2024

The banking industry is shifting towards innovation, collaboration and customer-centricity, driven by the adoption of technologies including cloud computing, data analytics, artificial intelligence and machine learning (AI/ML), changing customer preferences, and a rapidly evolving regulatory landscape, a new report by Amazon Web Services (AWS) says.

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AI Innovation Financial Crimes Crime 99

Fintech News

JULY 18, 2024

The Monetary Authority of Singapore (MAS) announced an additional commitment of S$100 million under the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0) to support the development of quantum and AI technologies within the financial sector. to support the progressive adoption of AI technologies.

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AI Use Case Fraud Detection Scams 108

Fintech Finance

MAY 30, 2024

Pay.UK , the independent, not-for-profit operator of the UK’s national retail payments system including Faster Payments, Bacs and Direct Debit, can today announce the results of its pioneering fraud detection and prevention pilot in collaboration with partners Visa , Synectics Solutions and Featurespace.

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Fraud Detection Overlay Service Crime Scams 52

Seon

JUNE 7, 2024

With its mimetic capabilities, AI-generated fraud is harder to detect and occurs at unprecedented volumes and velocities. As a result, organizations face large volumes of fraudulent data, necessitating heightened vigilance and advanced detection methods to protect themselves – and their customers or users.

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AI Innovation Fraud Prevention Fraud Detection 52

The Paypers

AUGUST 23, 2024

Sift, an AI fraud protection platform that safeguards digital trust, has introduced ThreatClusters, an innovative data science solution for detecting fraud.

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Fraud Detection AI Innovation 36

Fintech News

FEBRUARY 15, 2024

2024 is expected to be a year of innovation for the fintech industry, marked by advancements in artificial intelligence (AI), cross-border and real-time payments, cryptocurrency and blockchain, and bundled software-as-a-service (SaaS) offerings.

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Innovation FinTech Cross-Border Payments Cross-Border 105

The Fintech Times

APRIL 15, 2024

Artificial Intelligence (AI) has dominated discussion across all fintech sub-sectors for at least the last couple of years and continues to do so. With this in mind, it only makes sense that we delve into the impact that AI has had on the embedded finance space as part of our April monthly theme.

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Embedded Finance AI Finance Assessments 134

Fintech Review

MAY 7, 2024

The fintech sector is currently undergoing a significant transformation, with artificial intelligence (AI) and machine learning at the forefront of this change. These technologies are transforming how financial services operate, injecting unprecedented levels of efficiency and innovation. These obstacles are significant but manageable.

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AI FinTech Risk Assessment Fraud Detection 98

Fintech News

JUNE 2, 2024

Singapore-based B2B fintech firm Aspire has launched “Aspire AI,” a suite of AI-powered features aimed at enhancing real-time analytics and automating financial processes for businesses. Additionally, the “Aspire AI Assistant,” powered by OpenAI and currently in beta, offers an intuitive chat-to-action interface.

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AI Fraud Detection Automation B2B 60

Finovate

MARCH 13, 2024

The EU Parliament approved the Artificial Intelligence (AI) Act today. It’s no secret that AI is a double-edged sword. However, delineating the boundaries of AI’s applications and capabilities is challenging. This will impact how banks and fintechs use AI for customer interactions, underwriting, and fraud detection.

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AI Laws Fraud Detection Assessments 111

The Fintech Times

JANUARY 6, 2024

Particularly since the release of OpenAI ‘s ChatGPT at the back-end of 2022, the world has sat up and taken notice of the potential of artificial intelligence (AI) to disrupt all industries in countless ways. But how much can AI really change in the next 12 months when it comes to fintech?

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AI FinTech Financial Literacy Risk Management 141

Finovate

SEPTEMBER 9, 2024

In the financial services sector, artificial intelligence (AI) is often heralded as a transformative force capable of revolutionizing everything from customer engagement to fraud detection. However, as the excitement around AI continues to grow, so do the challenges associated with its implementation.

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AI Fraud Detection Consulting Returns 59

Finovate

AUGUST 13, 2024

Financial crime compliance platform Lucinity announced a strategic partnership with AI data management company Knights Analytics. The partnership will bring advanced AI-powered data management capabilities to bear to fight financial crime. Lucinity made its Finovate debut at FinovateSpring 2023 in San Francisco.

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Financial Crimes Crime Compliance AI 59

Fintech Finance

MAY 30, 2024

In a groundbreaking pilot in partnership with Pay.UK , Visa , a world leader in digital payments, has shown how leveraging the latest AI technology has the potential to drastically cut the £600m1 lost annually to account-to-account scams and fraud over recent years in the UK. In 2023, the UK saw 232,429 people falling victim to fraud.

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Scams Faster Payments Fraud Detection AI 52

Fintech News

MARCH 26, 2024

The round was also joined by MUFG Innovation Partners, Ohana Holdings, and returning investors Flourish Ventures, Eurazeo, and AppWorks. Qoala also plans to employ generative AI technologies to better agent experiences and operational efficiency. This brings Qoala’s total raised capital to over US$130 million.

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AI Fraud Detection Underwriting PayPal 97

Fintech Review

JULY 16, 2024

Open banking is transforming the financial landscape by fostering innovation , competition, and improved customer experiences. By accessing banking data, fintech companies can offer innovative products that improve customer choice and service quality. In Europe, the PSD2 directive has spurred significant innovation.

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Innovation Consumer API Financial Inclusion 98

Fintech News

MARCH 27, 2024

Visa announced the expansion of its value-added services by introducing three new AI-powered solutions aimed at bolstering fraud and risk prevention. Leveraging its extensive experience and a US$10 billion investment in technology and innovation over the past five years, Visa aims to enhance fraud prevention and network security.

Fraud Prevention 92

Fraud Prevention AI Value Added Service Fraud Detection 92

The Payments Association

JUNE 26, 2024

Key challenges include ensuring payment security amidst increasing cyber threats, which necessitates the use of robust encryption, tokenization, and fraud detection systems. These collaborations enable the adoption of advanced security measures and the development of innovative payment solutions. Read more

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Digital Payments Fraud Detection Regulatory Compliance Encryption 110

PYMNTS

JUNE 13, 2019

It’s nearly impossible for human analysts to examine every sign of malfeasance with banks processing millions of transactions each day, but that is exactly where learning technologies like artificial intelligence (AI) and machine learning (ML) can help. Fraud is like looking for needles in a haystack,” Sieczkowski explained.

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Fraud Detection AI Money Laundering Fraud Prevention 51

Finovate

MAY 16, 2024

As the banking sector stands at the precipice of a new era powered by fintech innovation, mastering the rapid deployment of AI technologies is not just beneficial—it’s imperative. Implementing Human Experience-Centric AI Solutions At the heart of technological advancements lies the need to enhance human interactions.

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AI FinTech SWIFT Fraud Detection 72

Nanonets

MAY 31, 2023

According to a Forrester survey, 98% of financial institutions believe that AI and ML can give them an edge and improve how they do business. This article explores the case for integrating AI into your finance function, the route to achieving it, and how your business can step change as a result. AI can help mitigate these issues.

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AI Finance Fraud Detection Mitigation 122

The Fintech Times

APRIL 30, 2024

Having looked into how embedded finance solutions have impacted various sub-sectors of finance, where could future innovations lead us? ” To find out more about the potential impact of embedded finance, as well as the biggest innovations the space could bring to financial lives across the globe, we reached out to industry leaders.

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Embedded Finance Finance Innovation AI 109

Fintech Finance

SEPTEMBER 17, 2024

ID-Pal and CLOWD9 are delighted to announce their global strategic partnership to enhance secure and efficient identity verification processes in payment processing, by offering ID-Pal’s AI-powered technology as part of CLOWD9’s innovative payment solutions portfolio.

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Process Verification Money Laundering AML 59

Fintech News

JULY 4, 2024

As artificial intelligence (AI) rapidly transitions from a nascent development to a ubiquitous technology accelerating advancements across the financial landscape, far-reaching implications for central banks worldwide are quickly emerging.

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Central Bank AI Correspondent Bank Correspondent 82

Fintech Finance

MAY 30, 2024

Swift has today announced two AI-based experiments in collaboration with its member banks, to explore how the technology could assist in combatting cross-border payments fraud and save the industry billions in fraud-related costs. AI’s capability for confidential data sharing could be a game-changer for the industry.

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Cross-Border Payments Cross-Border SWIFT AI 64

Fintech News

JANUARY 18, 2024

The emergence of generative artificial intelligence (AI) represents a pivotal moment in the technological evolution, significantly altering the digital financial services landscape in the Asia Pacific region. Here are five real-world applications of generative AI in Asia. trillion to US$4.4

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AI Financial Crimes Crime SWIFT 99

CoinRemitter

MARCH 20, 2024

Let’s ignore the cons, AI has some pros as well. The combination of AI and blockchain may fix all the hesitance and make crypto payments look more reliable than now. Let’s see how AI in blockchain can affect and what factors can cause an improved experience of accepting crypto payments. AI algorithms can simplify this.

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Blockchain AI Fraud Detection Payment Gateways 40

The Fintech Times

MARCH 27, 2024

Visa has introduced three new AI-powered risk and fraud prevention solutions to enhance security in digital payments. The new products, integrated into the end-to-end Visa Protect suite, aim to diminish fraud across immediate account-to-account and card not present (CNP) payments, as well as transactions both on and off Visa’s network.

Fraud Prevention 59

Fraud Prevention AI Value Added Service Fraud Detection 59

PYMNTS

MAY 28, 2020

Digital-fraud-protection company Kount said Thursday (May 28) that Mercator Advisory Group has named it the best eCommerce Fraud Detection Solution from among more than 40 products ranked. As fraud threats evolve, we will continue to advance our products to protect our customers.”.

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Fraud Detection Fraud Prevention Account Takeovers Bots 52

The Finance Weekly

DECEMBER 12, 2023

Artificial intelligence (AI) is quickly progressing and becoming a bigger part of our everyday lives. Professionals, researchers, and enthusiasts must keep informed about the ,, latest AI news , especially in finance. Luckily, many websites offer in-depth coverage of the newest AI trends.

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AI Finance Fraud Detection Cybersecurity 52

Nanonets

MARCH 4, 2024

These inefficiencies not only drain valuable resources but also divert focus from core business activities, stifling growth and innovation. Artificial Intelligence (AI) today has become a transformative power in the realm of expense management. Leveraging Generative AI 6.

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AI Payment APIs and Integration Fraud Detection Automation 52

Nanonets

DECEMBER 25, 2023

Traditionally, this process has been plagued by manual errors, time-consuming verifications, and a plethora of administrative challenges, prompting the healthcare industry to seek innovative solutions. Enter Artificial Intelligence (AI), a technological powerhouse reshaping industries across the globe.

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AI Process Payer Fraud Detection 59

The Fintech Times

AUGUST 17, 2024

“In today’s highly competitive and digital-first world, the use of behavioural analytics is now vital for innovating for the future of fighting fraud.” Empowering businesses NeuroID’s behavioural analytics solutions are available through CrossCore on the Experian Ascend Technology Platform as a key fraud-detection capability.

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Risk Fraud Detection Bots Identity Theft 59