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.

AI 109

AI Innovation Financial Crimes Crime 109

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.

Central Bank 101

Central Bank AI Correspondent Bank Correspondent 101

PYMNTS

APRIL 10, 2020

In many realms of businesses, machine learning (ML) and artificial intelligence (AI) have yielded powerful tools to manage such complex matters. percent of organizations in this sector currently use AI, according to PYMNTS’ latest research. Yet, these advanced computational systems have a long way to go in healthcare administration.

AI 144

AI Fraud Detection Regulatory Compliance Risk Assessment 144

Stax

AUGUST 22, 2024

PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks. Major risk factors for PayFacs include fraudulent transactions, merchant credit risk, regulatory compliance, and operational risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Payment APIs and Integration 88

Fraud.net

NOVEMBER 24, 2023

In this digital age, anti-money laundering is challenging. Find out what regulations apply to AML in banks and how you can remain compliant.

Regulatory Compliance 52

Regulatory Compliance AML Money Laundering Compliance 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 Payments Association

OCTOBER 3, 2024

For instance, AI-powered customer support can provide instant assistance, enhancing customer satisfaction. Enhanced processing systems translate to faster payments, immediate customer account updates, and superior fraud detection powered by AI and machine learning.

Payment APIs and Integration 88

Payment APIs and Integration Online and Mobile Banking On-Demand Process 88

The Fintech Times

DECEMBER 28, 2023

Today our leaders address escalating challenges related to fraud and the need for businesses to take proactive measures to address these issues and maintain customer trust and regulatory compliance. In this pursuit, businesses like SEON can help companies to bolster their defences against sophisticated fraud schemes.

Fraud Prevention 81

Fraud Prevention Scams Fraud Detection Regulatory Compliance 81

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.

Automation 52

Automation Process Fraud Detection Payment APIs and Integration 52

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

Leveraging machine learning and AI, the platform offers comprehensive monitoring and fraud detection capabilities. ComplyTek’s advancements in AI have significantly contributed to its recent industry recognition.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

Seon

JULY 10, 2024

While both types of monitoring aim to protect businesses and their customers, fraud transaction monitoring focuses more on identifying and preventing criminal activities. In contrast, payment transaction monitoring ensures regulatory compliance and the proper processing of legitimate transactions.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

Nanonets

SEPTEMBER 27, 2024

We will also understand how we can leverage AI-based Intelligent Document Processing (IDPs) tools to automate STP and reduce human dependency in this sector. AI algorithms then analyse this data to assess the risk associated with issuing a loan to a particular individual. So, let’s get started.

Process 52

Process Underwriting Automation Database 52

The Payments Association

SEPTEMBER 30, 2024

It highlights key trends, such as open banking, tokenisation, and fraud prevention, which are crucial for merchants to remain competitive and secure. Merchants need to continue adapting to new payment methods, collaborate with industry peers, and stay agile in balancing innovation and regulatory compliance. What’s next?

Fraud Prevention 88

Fraud Prevention Instant Payments Alternative Payment Methods Participant 88

Fintech Finance

FEBRUARY 29, 2024

By combining Socure’s accurate and inclusive identity verification and fraud prevention ID+ platform with Trustly’s guaranteed Pay by Bank offering, merchants can onboard users and process payments in one integrated flow. The joint solution allows merchants and fintechs to accelerate time-to-revenue while ensuring regulatory compliance.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

FICO

APRIL 10, 2019

Charis Research has named FICO a category leader in the AI in Financial Services, 2019; Market and Vendor Landscape. FICO was named a category leader in both AI analytics and packaged AI applications. FICO has also developed AI techniques in response to regulatory encouragement for innovation and efficiency in AML programs.

AI 51

AI Real Time Payments Account Takeovers AML 51

The Fintech Times

APRIL 30, 2024

“Data collection is essential to the rapidly evolving AI market. For example, AI can be used to analyse activity to automate the prevention of fraudulent activity. We expect to see it play a fundamental role in detecting both fraud and potential security breaches. .

Embedded Finance 109

Embedded Finance Finance Innovation AI 109

Fintech Review

JULY 16, 2024

Regulatory compliance is crucial to ensure that data sharing practices adhere to legal standards and protect consumer rights. Artificial intelligence (AI) and machine learning (ML) will play significant roles in enhancing the functionality of open banking services. Data security is a primary concern.

Innovation 98

Innovation Consumer API Financial Inclusion 98

M2P Fintech

JANUARY 3, 2024

Regulatory Compliance To stay compliant, banks need to adhere to central bank regulations on transaction security, data security, and privacy, among others. Core banking systems must have integrated compliance features that can adapt to evolving standards and regulations for robust security and fraud detection.

Payment APIs and Integration 59

Payment APIs and Integration CRM Online and Mobile Banking Regulatory Compliance 59

The Fintech Times

MAY 14, 2024

AI & ML Artificial intelligence (AI) and machine learning (ML) are revolutionising various aspects of fintech, from risk assessment and fraud detection to customer service and personalization. Regulation and compliance Fintech companies continue to grapple with evolving regulatory frameworks globally.

Compliance 64

Compliance Privacy FinTech Innovation 64

Nanonets

APRIL 15, 2024

Demonstrates commitment to financial integrity and regulatory compliance : Regular and accurate bank reconciliation reflects a company's dedication to maintaining high standards of financial transparency and compliance with regulatory requirements.

Reconciliation 52

Reconciliation Adjustments Correspondent Checks 52

Segpay

OCTOBER 18, 2023

A payment processor that includes risk management, KYC/AML, and Customer Due Diligence services and robust fraud detection solutions in their value proposition helps merchants reduce costs and prevent the nightmare of accidentally becoming an aggregator for criminals.

Transactions 52

Transactions Due Diligence Money Laundering Legal 52

Nanonets

JANUARY 12, 2024

For example, by deploying robotic process automation along with conversational AI, insurance companies can create virtual agents that can answer customers' first-level queries, gather basic information, and generate quotes.  Automate manual processes using Nanonet's AI-based OCR software.

Use Case 59

Use Case Automation Compliance Procedures 59

Fintech Labs Insights

JANUARY 11, 2017

In what The New York Times is calling The Great AI Awakening and Forbes has dubbed The Year of AI , 2017 is shaping up to be obsessively focused on artificial intelligence, a field that has been around for awhile (remember playing checkers against a computer?) Below are eight areas of fintech into which AI has made inroads.

AI 30

AI FinTech Bots Advisors 30

FICO

NOVEMBER 23, 2021

At Conductor, he helped the payments and banking-as-a-service platform increased fraud detection by 25 percent. Armando has worked as a lead consultant on transformation projects across private, retail and wholesale banking. Armando has an MBA from Brazil’s Fundação Getulio Vargas. by Nikhil Behl. by Nikhil Behl.

Regulatory Compliance 52

Regulatory Compliance Financial Inclusion Risk Management Consulting 52

The Fintech Times

FEBRUARY 27, 2024

Artificial intelligence For Paul Harrald , CFO of Curve , the financial payment super app, it is hard to look past artificial intelligence (AI) as the next big trend for the space. He explains: “AI is the next big payment trend. “Most fintechs are very well placed to avail themselves of the opportunity of generative AI.

Payments Trends 64

Payments Trends Payments Stablecoins FinTech 64

The Fintech Times

DECEMBER 14, 2023

The use of AI in finance can bring big changes to how customers experience financial services, manage risks, detect fraud, and more. Take, as a few examples, the way AI is now used for risk-assessment purposes, analysing large amounts of data, and assessing creditworthiness quickly and effectively.

FinTech 69

FinTech Innovation Assessments Economy 69

M2P Fintech

JULY 28, 2023

Fraud Risk Management (FRM) Banks can mitigate risks and make informed decisions with our FRM solutions. Integrating our FRM module provides real-time fraud detection, thus protecting customers and financial institutions.

Debit Card 52

Debit Card Payment APIs and Integration Reconciliation Fraud Detection 52

The Fintech Times

JANUARY 12, 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. Generative AI and other technologies can be hugely beneficial to businesses in bridging skills gaps and attracting new talent.”

AI 111

AI FinTech ISO 20022 Fraud Detection 111

FICO

APRIL 28, 2020

AI, Machine Learning and Optimization. Discover’s PULSE Network, one’s of the USA’s leading debit/ATM networks, has dramatically improved its fraud detection, blocking 30 percent more fraud, increasing the value-detection rate 40 percent and improving the false positive ratio by 25 percent. Regulatory Compliance.

Financial Inclusion 52

Financial Inclusion Fraud Detection Regulatory Compliance Non-Bank 52

Seon

MAY 10, 2024

Read How It Works Defining an Efficient AML Case Management Solution An efficient AML case management solution combines real-time, direct-to-source data with advanced technological innovation, uniting AML and fraud detection and prevention within one platform – often under the FRAML moniker. What is AML Compliance?

AML 52

AML Money Laundering SARS Suspicious Activity Report (SAR) 52

Nanonets

JUNE 23, 2023

Fraud Detection Reconciling balance sheet accounts can help uncover fraudulent activities or irregularities. By carefully scrutinizing transactions and balances, potential fraud can be detected early, allowing for appropriate action to be taken to mitigate financial risks.

Reconciliation 52

Reconciliation Audit Financial Analysis Adjustments 52

FICO

NOVEMBER 16, 2022

The right technology can help organizations on both of those fronts, while also providing a foundation that supports real-time automation and rules updates to help drive down costs and stop fraud losses; two-way communication to improve customer experience ; and transparency throughout the decisioning process for regulatory compliance and reporting.

Fraud Prevention 52

Fraud Prevention Compliance Fraud Detection AI 52

The Fintech Times

APRIL 30, 2024

“They’re also developing value-added services like fraud detection and data analytics to remain competitive. They also focus on regulatory compliance to ensure secure and trustable transactions within the embedded finance ecosystem.”

Embedded Finance 69

Embedded Finance Finance Payment APIs and Integration Processors 69

Nanonets

APRIL 3, 2024

In this article, we will discuss the importance of the vendor reconciliation process and the benefits of employing AI-enhanced tools such as Nanonets. Regulatory Compliance Burdens: Navigating tax regulations, accounting standards, and industry-specific rules adds complexity to the reconciliation process.

Reconciliation 52

Reconciliation Process Accounts Duplicate 52

Nanonets

APRIL 5, 2023

By using automation, lenders can also improve their loan processing times and reduce human error, ensuring regulatory compliance. AI-enabled borrower pre-qualification against pre-set requirements. An even greater percentage, more than 75 percent, anticipated these trends to continue for the next two years.

Automation 52

Automation Process Risk Assessment Assessments 52

FICO

MAY 27, 2021

AI, Machine Learning & Optimization. Conductor , the leading banking-as-a-service platform in Latin America, increased fraud detection by 25 percent. Conductor also achieved a 95 percent reduction in fraud analysis time using the FICO® Falcon® Platform , compared to its previous solution. Regulatory Compliance.

Online and Mobile Banking 52

Online and Mobile Banking Liquidity Risk Risk Fraud Detection 52