PYMNTS

DECEMBER 14, 2020

consumers think about artificial intelligence (AI) as it relates to their financial lives? Just ask them, as was done for the December 2020 How To Put AI In Your 2021 FI Business Plan Playbook , a collaboration with Brighterion. Better credit management is just one benefit AI can confer to banks, however,” per the Playbook.

AI 87

AI Risk Assessment Online and Mobile Banking Credit Risk 87

Nanonets

DECEMBER 25, 2023

Enter Artificial Intelligence (AI), a technological powerhouse reshaping industries across the globe. AI emerges as a transformative force in healthcare claims processing, promising to revolutionize how we handle, assess, and streamline the intricacies of claims submissions and reimbursements.

AI 59

AI Process Payer Fraud Detection 59

PYMNTS

DECEMBER 9, 2020

There are countless technologies banks are employing to help them in this task, but none are as effective as artificial intelligence (AI). The practical applications for AI extend far beyond credit risk assessment and detection, however.

Credit Risk 98

Credit Risk AI Risk Fraud Detection 98

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

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

The Payments Association

OCTOBER 3, 2024

For instance, AI-powered customer support can provide instant assistance, enhancing customer satisfaction. Sophisticated credit-scoring algorithms allow for more accurate risk assessment, enabling banks to extend credit responsibly and efficiently. Banks that delay their digital transformation efforts do so at their peril.

Payment APIs and Integration 88

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

Nanonets

AUGUST 1, 2023

Notably, artificial intelligence (AI) has emerged as a key disruptor, holding immense potential to reshape accounting and assurance professions. AI also plays a crucial role in detecting fraudulent activities, scrutinizing transactions, and alerting auditors to potential irregularities. How is AI used in audit?

Audit 52

Audit Risk Assessment AI Assessments 52

Stax

AUGUST 22, 2024

In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks.

Risk Management 88

Risk Management Risk Regulatory Compliance Payment APIs and Integration 88

Seon

APRIL 23, 2024

Modern fraud risk management systems aim to proactively identify and thwart fraudulent activities before they occur or at the earliest juncture possible, ensuring the integrity of transactions without hindering the user experience – an approach that aligns with the growing expectations for seamless and secure digital transactions.

Risk Management 40

Risk Management Risk Technology Fraud Detection 40

The Fintech Times

MARCH 29, 2024

From enhancing risk assessment accuracy to personalising products and services, insurers are leveraging data analytics to optimise decision-making processes, mitigate risks and cater to evolving consumer needs. AI tools review customer data and suggest edits to premiums when a customer’s situation changes.

Risk Assessment 59

Risk Assessment Underwriting Assessments Risk 59

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. It assesses the financial credibility of an individual applying for an insurance policy to help decide whether that person should be insured. So, let’s get started.

Process 52

Process Underwriting Automation Database 52

The Fintech Times

DECEMBER 28, 2023

With the Economic Crime and Corporate Transparency Act having received royal assent on 26 October, financial institutions must ensure they up their game and deliver sophisticated risk assessments over the coming months. Without them, those found to have failed to prevent certain instances of fraud could pay a very heavy price.

Fraud Prevention 81

Fraud Prevention Scams Fraud Detection Regulatory Compliance 81

Fintech News

MAY 20, 2024

As regulatory expectations continue to evolve, it’s crucial for organizations to stay ahead of the curve and adapt their compliance strategies to mitigate financial crime risks effectively. Experts anticipate that by 2028, the majority of banking, investment, and insurance processes will be assisted or driven by AI technologies.

FinTech 133

FinTech Embedded Finance BNPL AI 133

Seon

JULY 11, 2024

The panelists discussed the complexities and benefits of integrating fraud and AML teams, the challenges in scaling operations and the current global money laundering regulations. The critical need for AI-driven decision-making processes alongside human oversight was also emphasized. Below are the top takeaways from the discussion: 1.

Fraud Prevention 52

Fraud Prevention AML Money Laundering Financial Crimes 52

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. Trustly, with direct banking integrations, provides instant Open Banking payments with transaction guarantees.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

The Fintech Times

MARCH 27, 2024

“To identify potential front and shell companies, financial services firms need to actively monitor transaction volumes and frequencies, while examining clients and counterparties for high-risk indicators such as locations of owners and controllers.

Money Laundering 93

Money Laundering Financial Crimes Crime Due Diligence 93

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.

Disputes 52

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

The Fintech Times

MARCH 31, 2024

Is the insurance sector risking over-reliance on artificial intelligence, and what’s the balance between innovation and human expertise? In part two of our spotlight on AI, let’s hear more from our community… ( part one here ). Allianz Partners has got two AI bots working on travel claims.

Risk 64

Risk AI Underwriting Automation 64

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. I believe there are three important points to consider to be able to manage and navigate the industry.

Compliance 64

Compliance Privacy FinTech Innovation 64

The Fintech Times

JANUARY 30, 2024

As CEO, I focused on expanding and restructuring teams across the Baltics, reorganising whole divisions to promote top-to-bottom optimisation, and piloted new AI and data information system integration. AI is a hot-button topic everywhere, and fintech is no exception. What’s the best thing about working in the fintech industry?

Fraud Detection 59

Fraud Detection Risk Assessment FinTech AI 59

FICO

FEBRUARY 15, 2017

In the previous posts in this mini-series, TJ Horan noted that AI is the newest hope for compliance , and Frank Holzenthal explored the benefits that AI can bring to compliance officers. As Frank noted in his post, we have integrated two main AI components into our AML products. Multiple ways for adopting analytics using Siron®.

AML 67

AML AI SARS Money Laundering 67

Fintech News

MAY 16, 2024

FWD Singapore In Singapore, the insurtech sector is leveraging artificial intelligence (AI)-driven risk assessment to transform the insurance industry. Income Insurance is also a social enterprise, and says it is therefore committed to making insurance inclusive and works towards benefiting the wider community in Singapore.

Online and Mobile Banking 112

Online and Mobile Banking Innovation Blockchain Fraud Detection 112

Nanonets

APRIL 26, 2023

They look for patterns and indicators of risk to analyze creditworthiness. Some technologies that can help with various aspects of loan underwriting include: Artificial intelligence (AI) and machine learning (ML) algorithms can help analyze vast amounts of data and identify patterns that can be used to predict creditworthiness.

Underwriting 52

Underwriting Automation Fraud Detection AI 52

Nanonets

APRIL 24, 2023

Bank extraction software can be used to extract this information and use it for loan approvals and risk assessments. Automate your mortgage processing, underwriting, fraud detection, bank reconciliations or accounting processes with a ready-to-use custom workflow.

Automation 52

Automation Assessments Fraud Detection Risk Assessment 52

Nanonets

AUGUST 1, 2023

Artificial Intelligence (AI): AI is transforming the landscape of internal audit, empowering auditors with intelligent tools that revolutionize risk assessment, anomaly detection, and predictive modeling. Another key advantage of automation of internal audit is better risk assessment.

Audit 52

Audit Automation Risk Assessment Bots 52

Nanonets

APRIL 5, 2023

Increased accuracy - automation can eliminate the risk of human errors in data entry and processing, resulting in more accurate customer filtering. Better risk assessment - automation can provide lenders with more detailed financial information on potential borrowers, enabling them to make better risk assessments.

Automation 52

Automation Process Risk Assessment Assessments 52

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

Nanonets

MAY 30, 2024

AI and Machine Learning:  Enhances error and fraud detection. Rossum   Rossum uses AI to automate transactional document processing, making it a powerful P2P tool. Pros: Advanced AI and Machine Learning:  Reduces manual tasks and errors in document processing. Cons: High cost for smaller businesses.

Automation 52

Automation Process P2P Compliance 52

The Fintech Times

APRIL 30, 2024

“They’re also developing value-added services like fraud detection and data analytics to remain competitive. Their strengths are assessment, management, and specialised services. For example, payment providers are using AI to only display payment methods or buy buttons that the consumer has used before.

Embedded Finance 69

Embedded Finance Finance Payment APIs and Integration Processors 69

FICO

JANUARY 10, 2023

Innovative Customer Communications for Fraud. Detecting possible fraud is important, but what you do with that suspicion may matter even more. Taking the most strident fraud prevention actions might seem the intuitive answer but suspicion is often unfounded, and most customers are not fraudsters.

Scams 52

Scams Posting Push-to-Card Compromise 52

Finovate

MARCH 28, 2024

The new offering combines fraud fighting and anti-money laundering operations in a unified, approach that helps institutions better deal with emerging threats and evolving regulations. AI-powered fraud and risk platform DataVisor launched its end-to-end anti-money laundering (AML) solution this week.

AML 59

AML Compliance AI Money Laundering 59

The Fintech Times

AUGUST 29, 2024

Cashfree Payments , the Indian paytech and API banking solutions provider, has launched Secure ID, its end-to-end solution for identity verification, risk assessment and fraud prevention. With Secure ID, Cashfree Payments has consolidated all its verification offerings into a single suite, boosting operational efficiency.

Checks 69

Checks Risk Assessment Security Payment APIs and Integration 69

FICO

FEBRUARY 25, 2022

So, what can banks do to prevent APP fraud? Deploy AI and Machine Learning – the Scams Model. The results speak for themselves; using targeted profiling of customer behavior to spot scams, 50% more scam transactions are detected. Look Out for APP Fraud Signals – Develop the Rules.

Scams 52

Scams Payee Romance Scams Payments 52

Nanonets

JULY 25, 2023

Risk Assessment: Financial data analysis also plays a crucial role in assessing and managing risks. Through techniques like variance analysis, sensitivity analysis, and stress testing, analysts can identify potential risks and their impact on financial outcomes.

Financial Analysis 52

Financial Analysis Payment APIs and Integration Assessments Automation 52

Segpay

MARCH 20, 2024

8 minute read Artificial intelligence (AI) has revolutionized many industries, with Generative AI emerging as a transformative force in the vast world of content creation. Deploying generative AI will be a dual-edged sword, presenting exciting opportunities and significant risks. Look at the Bright Side!

AI 110

AI Privacy Non-Bank Fraud Detection 110

Fintech Labs Insights

AUGUST 22, 2024

SAVVI AI : Raised $5.6M for its AI analytics solutions; making significant inroads in healthcare and finance sectors. SAVVI AI : Raised $5.6M for its AI analytics solutions; making significant inroads in healthcare and finance sectors. SAVVI AI: Raised $5.6M TAZI AI: Raised $6.1M Debbie: Raised $2.7M

Online and Mobile Banking 15

Online and Mobile Banking Acquirers Payment APIs and Integration AI 15