The Fintech Times

SEPTEMBER 3, 2024

Business analytics enterprise, IBM , has unveiled new technologies designed to significantly scale processing capacity across IBM Z mainframe systems helping accelerate the use of traditional AI models and Large Language Models (LLMs).

Use Case 64

Use Case AI Innovation CHIPS 64

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. Fraud Detection with Machine Learning Furthermore, machine learning is significantly transforming the domain of fraud detection within the financial sector.

AI 98

AI FinTech Risk Assessment Fraud Detection 98

Fintech Finance

SEPTEMBER 26, 2024

Visa (NYSE: V) today announced it has signed a definitive agreement to acquire Featurespace , a developer of real-time artificial intelligence (AI) payments protection technology that prevents and mitigates payments fraud and financial crime risks. We look forward to welcoming the Featurespace team to Visa.”

Acquirers 98

Acquirers Financial Crimes Fraud Detection Crime 98

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.

Embedded Finance 134

Embedded Finance AI Finance Assessments 134

Nanonets

DECEMBER 13, 2023

Integrating AI and automation into the underwriting workflow presents a significant opportunity to minimize the time allocated to administrative tasks, manual processes, and repetitive data entries. In addition, AI can help insurance firms evaluate risk with high accuracy by analyzing large volumes of data.

AI 102

AI Process Fraud Detection Compliance 102

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

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

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 109

The Paypers

SEPTEMBER 27, 2024

Justt , an AI-powered chargeback mitigation provider, has announced a partnership with Ravelin , a company specialising in AI-based fraud detection solutions.

Fraud Detection 36

Fraud Detection Mitigation AI 36

Fintech News

OCTOBER 13, 2024

In addition, Thredd’s expertise as a partner for providing explainable AI (xAI)-empowered and scalable card issuing processing, payments processing, cross-border payments solutions, are essential to two key insights that frame 2025 conversations at SFF: Roadmap for AI & Quantum and Next-gen Transactions.

AI 52

AI Cross-Border FinTech Issuers 52

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.

AI 59

AI Fraud Detection Consulting Returns 59

The Fintech Times

FEBRUARY 4, 2024

In an effort to fight back against fraudsters , payments giant Mastercard is now adopting generative AI techniques to enhance the protections that keep consumers, and the entire payments network, safe. The post Mastercard Backs Generative AI Techniques to Keep Consumers Safe Against Growing Fraud Levels appeared first on The Fintech Times.

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Visa AI Consumer Fraud Detection 69

The Fintech Times

MARCH 18, 2024

Key benefits of digital fraud prevention tools Real-time monitoring leveraging fraud detection algorithms The power of modern fraud detection tools lies in their ability to monitor transactions and user behaviour continuously, in real time.

Fraud Prevention 59

Fraud Prevention AI Fraud Detection Payments 59

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

Fi911

DECEMBER 19, 2023

In finance, AI’s role is becoming increasingly pivotal, particularly in fraud prevention and management. As digital banking services grow in popularity, the unfortunate byproduct is a corresponding rise in fraud. This trend underscores the question: Can AI truly integrate into the financial sector effectively?

Fraud Prevention 85

Fraud Prevention Fraud Detection Point-of-Sale (POS) Online and Mobile Banking 85

The Payments Association

OCTOBER 22, 2024

It aims to protect consumers from authorised push payment (APP) fraud but raises concerns about the adequacy of protection for larger fraud cases. Financial institutions must adopt AI-driven solutions and collaborate closely to proactively combat evolving fraud threats. AI is a double-edged sword in fraud prevention.

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Rules Fraud Prevention Deepfake Caps 88

Fintech Finance

OCTOBER 9, 2024

Fraudsters are turning to AI to fuel fraud AI technology, such as AI-driven bots and scripts, has given fraudsters unprecedented speed to automate the process of generating synthetic identities on a massive scale. ” Key report insights at a glance Payment trends (H1 2024 vs. .

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BNPL Volume AI Alternative Payment Methods 98

Nanonets

MARCH 4, 2024

Artificial Intelligence (AI) today has become a transformative power in the realm of expense management. AI technologies offer promising solutions to these age-old problems, automating mundane tasks, enhancing accuracy, and streamlining processes. Leveraging Generative AI 6.

AI 52

AI Payment APIs and Integration Fraud Detection Automation 52

Seon

JUNE 27, 2024

We don’t know what AI will look like one year from today. Such uncertainty is unwelcome in cybersecurity and fraud. Both fields are defined by their abilities to predict, prevent and mitigate risks. Both fields are defined by their abilities to predict, prevent and mitigate risks.

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Cybersecurity Fraud Detection Identity Theft Money Laundering 52

Fintech Finance

MARCH 20, 2024

Network International , the leading enabler of digital commerce across the Middle East and Africa, has extended the benefits of Mastercard’s Brighterion fraud prevention solution, powered by artificial intelligence (AI), to over 60,000 merchants.

AI 52

AI Fraud Prevention Visa Fraud Detection 52

Nanonets

FEBRUARY 12, 2024

Among the sectors witnessing a seismic shift, the lending and loan management world stands at the forefront of this AI-powered evolution. In this blog, we'll explore how AI is not just a tool but a paradigm shift, altering lending institutions' DNA and redefining the borrower-lender relationship. The result?

AI 52

AI Fraud Detection Regulatory Compliance Automation 52

The Fintech Times

APRIL 8, 2024

Global law firm DLA Piper, i n partnership with The Fintech Times and The Fintech Power 50, recently hosted a fascinating evening event at its head office in London addressing how established players and disrupters in the insurance industry can navigate through the complexities of artificial intelligence (AI).

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AI Risk Legal Framework Use Case 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.

Risk 59

Risk Fraud Detection Bots Identity Theft 59

PYMNTS

DECEMBER 9, 2020

Consumers are more susceptible than ever to falling short on their monthly bills, leaving banks searching for more proactive ways to mitigate the risk of defaults. There are countless technologies banks are employing to help them in this task, but none are as effective as artificial intelligence (AI).

Credit Risk 98

Credit Risk AI Risk Fraud Detection 98

Nanonets

AUGUST 16, 2024

  This automation process leverages cutting-edge tools such as machine learning (ML), artificial intelligence (AI), and natural language processing (NLP).  Try Nanonets' free AI-powered OCR and workflow automation. For example, AI can easily read and verify receipts and reports against the policy terms.

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Automation Process Fraud Detection Payment APIs and Integration 52

Global Fintech & Digital Assets

NOVEMBER 1, 2023

As regulatory thinking evolves, firms must ensure that any current or planned use of AI complies with regulatory expectations. The FCA recently highlighted that we are reaching a tipping point whereby the UK government and sectoral regulators need to decide how to regulate and oversee the use of AI. By Fiona M.

AI 52

AI Regulations Financial Crimes Governance 52

PYMNTS

FEBRUARY 26, 2020

The study also noted that only 27 percent of restaurants’ digital investments were focused on fraud mitigation, with establishments instead allocating resources to mobile ordering. AI to the Rescue. AI systems can prevent these attacks and are inexpensive when compared to the cost of human fraud prevention teams.

Credential 56

Credential AI Fraud Detection Account Takeovers 56

Stax

AUGUST 22, 2024

Identity theft, data breaches, and chargeback fraud are some of the most common types of risks. This is why you need robust fraud detection mechanisms and ensure that they are up-to-date. To mitigate some of the financial risks, you can look into retaining a portion of the funds and creating reverse accounts.

Risk Management 88

Risk Management Risk Regulatory Compliance Payment APIs and Integration 88

PYMNTS

SEPTEMBER 15, 2020

This is where artificial intelligence (AI) technologies like Adaptive Decisioning are proving invaluable. AI tools can reportedly help banks review claims and draw on customers’ data to inform their evaluations,” according to the September FI Fraud Decisioning Playbook. Spotting The Fakers.

AI 62

AI Disputes Issuers Push-to-Card 62

Fintech News

APRIL 7, 2024

In the contemporary digital world, the proliferation of deepfake technology and generative AI heralds an era fraught with online scam challenges, notably within the financial sector in Asia. “Even people who are trained on deep fakes have a real difficulty determining what’s a real image from an image created using a deep fake.”

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Deepfake Scams Fraud Detection Verification 132

The Fintech Times

SEPTEMBER 26, 2024

Founded by Ella Tkach-Dreazen and Ory Segev , KOIOS uses AI to detect online financial threats and manipulation campaigns targeting publicly traded companies. The funds will accelerate innovation and scale the AI-driven platform, already used by US-based companies and investor relations firms.

FinTech 64

FinTech Payment APIs and Integration Fraud Detection Fraud Prevention 64

Seon

SEPTEMBER 20, 2024

The Changing Face of Fraud In what many describe as an “unpredictable era,” lenders are collectively challenged to stay ahead of increasingly sophisticated fraudsters. The rise of artificial intelligence (AI), machine learning (ML) and automation have all added new layers of complexity to fraud prevention at an unprecedented scale.

Risk 52

Risk Fraud Prevention Deepfake Risk Management 52

Fintech Finance

AUGUST 2, 2024

ComplyTek introduces an advanced transaction screening solution for instant payments , designed to ensure compliance and mitigate fraud within the critical 10-second processing window. Leveraging machine learning and AI, the platform offers comprehensive monitoring and fraud detection capabilities.

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Instant Payments Transactions Payment APIs and Integration Compliance 94

Seon

MAY 31, 2024

While some market solutions integrate machine learning (ML), artificial intelligence (AI), and automation to streamline review processes and minimize reliance on manual intervention, many businesses operate with fragmented workflows, where separate departments are isolated, leading to gaps and weaknesses.

Fraud Prevention 52

Fraud Prevention Fraud Detection Compliance Money Laundering 52

Segpay

APRIL 16, 2024

In this case, both the cardholder and the merchant are victims of Fraud. Merchants should implement robust fraud detection tools, such as address verification systems (AVS) and card verification value (CVV) checks. Each card brand applies different chargeback thresholds. Chargeback ratios also differ per industry.

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Disputes Address Verification System (AVS) Fraud Prevention Fraud Detection 52

PYMNTS

MARCH 2, 2020

But when the company started looking more closely at the healthcare system, it realized it had relevant capability when it came to using artificial intelligence (AI) to secure the system in such a way that the process moves smoothly for legitimate interactions while locking out the bad ones. “We Modifying the System.

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AI Visa Payer Law Enforcement 86