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

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

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 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 96

Central Bank AI Correspondent Bank Correspondent 96

Finovate

DECEMBER 6, 2023

When it comes to predicting the next leap in fintech, you have to risk not only getting things wrong , but also being ok with it. Technological demands The financial services industry loves generative AI, but even though it is the hottest topic in fintech at the moment, it comes with its own set of restrictions. Hint: It’s Not AI.

AI 104

AI FinTech CHIPS Risk Assessment 104

FICO

NOVEMBER 30, 2016

These intelligent scores can be used to assess risk in the underwriting process for cyber security insurance, an exploding category that CFO magazine calls a “must have” : “A September [2016] survey by the Risk and Insurance Management Society found that 80% of the companies bought a stand-alone cybersecurity policy in 2016.”

AI 108

AI Compromise Risk Assessment Assessments 108

PYMNTS

MARCH 6, 2020

There is scarcely a financial institution (FI) that does not claim to be using artificial intelligence (AI) in some capacity or other. What some banks purport to be AI is often lumped together with other less sophisticated computational systems or, in some cases, not AI at all but the result of intensive human labor.

AI 81

AI Credit Risk Regulatory Compliance Risk Assessment 81

PYMNTS

APRIL 28, 2019

Set up in 2016 by companies including Google, Microsoft, Amazon and Facebook, The Partnership on AI released a report that stated algorithmic risk assessment tools cannot properly provide the right level of transparency and accountability. This report documents the serious shortcomings of risk assessment tools in the U.S.

Law Enforcement 58

Law Enforcement Laws Risk Assessment AI 58

Fintech Review

JUNE 12, 2024

We explore the innovations in personalised insurance products, the role of IoT devices in data collection and risk assessment, and the challenges faced by established insurance companies integrating new technologies. Enhanced Risk Assessment IoT data provides insurers with a more accurate understanding of risk profiles.

Risk Assessment 96

Risk Assessment Regulatory Compliance Assessments Risk Management 96

PYMNTS

NOVEMBER 23, 2020

The latest JAGGAER software release offers new artificial intelligence (AI)-based ways of measuring risk and optimizing the purchasing process, a press release says. It will give the user a series of choices meant to hone in on their individual preferences, with each use helping the AI system to better learn their preferences.

Risk 70

Risk AI Risk Assessment Assessments 70

Fintech News

JANUARY 16, 2024

Utilising advanced technology, Igloo’s Weather Index Insurance employs big data, real-time risk assessment, and automated claims management. This blockchain-based solution uses smart contracts to streamline claims processing.

Risk Assessment 119

Risk Assessment Database Blockchain Assessments 119

The Fintech Times

JULY 31, 2024

“One of the most meaningful ways we protect our customers and their homes is to work with them to understand and mitigate risk,” said Rebecca L. “One of the most meaningful ways we protect our customers and their homes is to work with them to understand and mitigate risk,” said Rebecca L.

Risk 59

Risk AI Risk Assessment Assessments 59

PYMNTS

APRIL 24, 2020

This is one reason why credit risk has emerged as one of the most promising applications of artificial intelligence (AI). AI is capable of processing and learning from massive volumes of data in real time and can flag risks long before they appear on the radar of conventional models. Among banks that use AI, 92.9

Credit Risk 100

Credit Risk Risk AI Underwriting 100

The Payments Association

DECEMBER 11, 2024

Digital payments demand advanced fraud prevention, blending AI and human intelligence to counter evolving threats while ensuring seamless user experiences. This delicate balance requires sophisticated technological solutions to perform complex risk assessments without creating unnecessary barriers for legitimate users.

Fraud Prevention 88

Fraud Prevention Risk Assessment Payments Account Takeovers 88

Finovate

MARCH 28, 2024

AI-powered fraud and risk platform DataVisor launched its end-to-end anti-money laundering (AML) solution this week. The technology leverages sophisticated machine learning and AI to cover the entire AML process without disrupting the customer’s existing workflows. Co-founder Yinglian Xie is CEO.

AML 59

AML Compliance AI Money Laundering 59

Fintech News

MARCH 20, 2024

Fraud networks, however small they may seem right now, will gain prominence, just like AI-powered deepfakes. said Pavel Goldman-Kalaydin, Head of AI/ML at Sumsub. The damage of fraud rings is much more significant than that of individual scammers. Businesses must be prepared for this and protect their platforms in advance”.

APACS 104

APACS Fraud Prevention Deepfake Account Takeovers 104

Fintech Review

SEPTEMBER 5, 2024

Palo Alto, California, United States, September 5th, 2024, Chainwire AI-driven platform detects fraud at its earliest stages, preventing billions in potential crypto losses As scams grow more sophisticated and increasingly target crypto for laundering billions in losses, CUBE3.AI AI is pioneering a new era in fraud prevention.

Scams 52

Scams Blocks AI Fraud Prevention 52

Finovate

MAY 14, 2024

Financial crime compliance company Napier AI has partnered with Romania’s Salt Bank. Salt Bank will deploy Napier AI’s transaction screening solution to protect transactions against a variety of fraud risks. Napier AI made its Finovate debut at FinovateEurope 2018 in London.

AI 59

AI Transactions Financial Crimes Crime 59

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).

AI 59

AI Risk Legal Framework Use Case 59

PYMNTS

SEPTEMBER 23, 2019

By leveraging new machine learning and artificial intelligence (AI) technology, Quantifind said it can handle processes in new ways that weren’t possible just a few years ago. We have identified Quantifind’s technology for external data review and intelligent risk assessments as truly best-in-class.

AML 65

AML Compliance Financial Crimes Automation 65

The Fintech Times

SEPTEMBER 14, 2024

Having already explored compliance challenges, penalties and solutions, we now turn our attention to the technology of the moment: AI. While we’re well aware that AI is currently spoken about in absolutely every context, we also understand the huge impact it can have across sectors and operations.

Compliance 69

Compliance AI Process Suspicious Activity Report (SAR) 69

PYMNTS

JUNE 27, 2019

Digital fraud prevention company Kount has launched a new artificial intelligence (AI)-driven solution to enhance payments fraud prevention. More than any other model we’ve seen, Omniscore truly behaves as a human would in the risk assessment of a payment transaction, which is the very definition of artificial intelligence.”.

AI 57

AI Fraud Prevention Risk Assessment Assessments 57

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

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 135

FinTech Embedded Finance BNPL AI 135

Fintech News

JUNE 3, 2024

First, it notes that the adoption of large language models (LLMs) and generative artificial intelligence (gen AI), like ChatGPT, is marking a new era for cyber risks. AI is expected to automate and personalize cyberattacks, making them more efficient and widespread.

Ransomware 105

Ransomware APACS Cybersecurity AI 105

PYMNTS

SEPTEMBER 19, 2017

The company offers real-time risk assessment of merchants who are looking for a traditional point-of-sale (POS) terminal, a mobile POS (mPOS) and other payments and eCommerce solutions. The merchant has to demonstrate why they need the terminal and submit to a risk assessment process.

Point-of-Sale (POS) 70

Point-of-Sale (POS) Risk Assessment FinTech Assessments 70

PYMNTS

APRIL 16, 2019

But it occurred to them that their solution was useful outside of HR — and that many of the things that made someone a good hire of over time could also make them a good credit risk over time, if the artificial intelligence (AI) model they were using to screen with were modified to that task. Expanding Access to Credit With AI.

Risk 89

Risk AI Underwriting Assessments 89

Finovate

APRIL 24, 2024

Impact asset manager Finance in Motion has teamed up with financial crime compliance specialist Napier AI. Finance in Motion will deploy Napier AI Continuum as its anti-money laundering and counter terrorist financing (AML/CTF) platform. London-based Napier AI made its Finovate debut at FinovateEurope in 2018.

Financial Crimes 59

Financial Crimes Crime AI Finance 59

Fintech News

MAY 22, 2024

Arctic Intelligence (Australia) Headquartered in Sydney, Australia, Arctic Intelligence is a multi-award-winning regtech company specializing in financial crime risk assessment technologies. Founded in late 2015, the company provides regulated entities with tools to manage audit, risk, and compliance programs effectively.

Financial Crimes 85

Financial Crimes Crime APACS Risk Assessment 85

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

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. Additionally, SecureID provides data-driven risk scoring for informed decision-making and monitoring for potential risks in the user’s journey.

Checks 69

Checks Risk Assessment Security Payment APIs and Integration 69

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

Fintech News

MAY 14, 2024

The convergence of exponential increases in processing power, continuous advancements in deep learning and neural networks, and the democratisation of AI tools has fueled a creative explosion in digital media. They successfully opened 54 bank accounts and obtained 90 loans between July and September 2023.

Deepfake 118

Deepfake Authentication Verification AI 118

FICO

JANUARY 24, 2018

Two of today’s hottest tech topics — cybersecurity insurance and artificial intelligence (AI) — were well represented at recent conferences in insurance and banking, respectively: Advisen Cyber Risks Insights Conference and Bank AI Expo. Bank AI Expo: Chatbots Not Yet Ready for Prime Time. Here’s my take.

Cybersecurity 55

Cybersecurity AI Underwriting Risk 55

The Fintech Times

MARCH 18, 2024

AI-native technologies unlock new possibilities Advanced fraud detection and prediction AI-powered fraud detection utilises advanced algorithms to do more than analyse real-time transactions. These algorithms learn from historical trends and predict potential fraud risks before they even happen.

Fraud Prevention 59

Fraud Prevention AI Fraud Detection Payments 59

Finovate

JUNE 4, 2024

” AMLYZE leverages AI, synthetic data, and the power of the network to offer a paradigm-shifting approach to AML. The company’s technology can be deployed to provide real-time and retrospective transaction monitoring, customer risk assessments, AML/CFT investigations, and PEP, sanctions, and negative media screening.

Financial Crimes 64

Financial Crimes Crime Risk Assessment AML 64

Finovate

DECEMBER 11, 2024

With the launch of its new GenAI Financial Crime Detection Suite, ThetaRay aims to enhance risk assessment, streamline operational workflows, and strengthen anti-money laundering (AML) reporting to reduce fraudulent activity, such as money laundering and terrorist financing. Vice President Yina Arenas.

Financial Crimes 59

Financial Crimes Crime Money Laundering Risk Assessment 59