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

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

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

DECEMBER 9, 2020

Taking this retroactive approach to credit risk management was never efficient, but it has become even less feasible amid the pandemic. 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.

Credit Risk 98

Credit Risk AI Risk Fraud Detection 98

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

Tearsheet

AUGUST 7, 2024

Morgan’s extensive client relationships with Slope’s AI-driven B2B payment platform. Morgan’s financial strength and Slope’s innovative approach to credit risk assessment and monitoring. The AI capabilities that Slope has is a true market differentiator in this space.

AI 59

AI B2B Finance Underwriting 59

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. AML Screening : Sanctions and watchlist screening, transaction pattern analysis for detecting money laundering activities.

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 133

FinTech Embedded Finance BNPL AI 133

PYMNTS

SEPTEMBER 23, 2019

Financial crimes risk management software company Quantifind and Oracle Financial Services have teamed up to improve anti-money laundering (AML) compliance and to add intelligence and automation properties directly into the compliance workflows, according to a release.

AML 65

AML Compliance Financial Crimes Automation 65

Fi911

DECEMBER 19, 2023

In finance, AI’s role is becoming increasingly pivotal, particularly in fraud prevention and management. This trend underscores the question: Can AI truly integrate into the financial sector effectively? It also proactively predicts and prevents potential fraud risks. The resounding answer is yes.

Fraud Prevention 85

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

The Fintech Times

FEBRUARY 8, 2024

In this week’s Behind the Idea, we chat to Gill to learn how Confide evolved from addressing the lessons learned from the Wirecard scandal into a holistic platform for governance, risk management, and integrity assurance. Confide was born out of a necessity to bridge the gap in corporate governance and risk management.

Risk Management 59

Risk Management Government Governance Risk Assessment 59

Nanonets

APRIL 11, 2023

The need to minimize risk and maintain loan portfolio quality : In a volatile economic environment, lenders must carefully manage risk to protect their loan portfolios and maintain financial stability. This disjointed communication results in inefficient information exchange and slows down the loan origination process.

Origination 52

Origination Automation Risk Assessment Underwriting 52

Fintech Review

JANUARY 24, 2024

One might argue that the rigorous processes banks employ in assessing loan applications reflect a diligent risk management approach. The efficiency of the loan process also hinges on the banks’ ability to manage their resources. However, the efficiency of bank lending is often debated.

Risk Management 105

Risk Management Assessments Small Business Innovation 105

The Fintech Times

SEPTEMBER 24, 2024

Appointments Axyon AI, a fintech provider of AI to the asset management industry in Europe, has appointed Nicholas ‘Nick’ Greenland as senior vice president, business development. CEO Marc Bailey highlighted Almeida’s expertise as crucial for the firm’s growth and risk management.

FinTech 59

FinTech Payment APIs and Integration AI Risk 59

Fintech Finance

DECEMBER 13, 2023

Napier is providing its Transaction Monitoring, Client Screening, Client Risk Assessment and Client Activity Review solutions to noqodi, in order to further strengthen its commitment to supporting the government’s initiative to a secure, cashless, digital economy.

Digital Payments 52

Digital Payments Financial Crimes Security Payment APIs and Integration 52

PYMNTS

JANUARY 22, 2020

With the new IBM Policy Lab, IBM is looking to regulate artificial intelligence (AI) development in a way that is safe, but does not infringe upon the creation of new technology, reports said. The lab, soft-launched in November, will allow IBM the space and time to craft a vision for AI moving forward.

AI 52

AI Risk Assessment Risk Management Regulations 52

The Fintech Times

JULY 16, 2024

Moody’s , the credit analysis and performance management platform, has launched a new Early Warning System using generative AI (genAI) to monitor investors’ portfolios and alert them of any impactful headlines. This transformative technology helps our clients make more informed decisions faster and with greater confidence.”

Risk Assessment 52

Risk Assessment Assessments Risk On-Demand 52

The Fintech Times

MAY 14, 2024

My previous roles in corporate banking and investments, coupled with my experience in building tech companies, have provided me with a unique blend of financial insight, strategic thinking, client relationship management, risk management, entrepreneurship, and technical expertise.

Compliance 64

Compliance Privacy FinTech Innovation 64

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

Nanonets

AUGUST 1, 2023

This technology proves invaluable in detecting potential instances of fraud or non-compliance within the organization, providing deeper insights into business operations, and enabling data-driven decisions to strengthen risk management and compliance measures.

Audit 52

Audit Automation Risk Assessment Bots 52

Nanonets

AUGUST 1, 2023

The integration of Artificial Intelligence (AI), cloud-based data storage solutions, and data analytics tools is set to transform the audit industry, reshaping the way accountants and auditors carry out their tasks. The above statistics highlight the increasing influence of automation and AI in the audit process.

Audit 40

Audit Automation Risk Assessment Assessments 40

The Fintech Times

MARCH 12, 2024

It allows insurance providers and their customers to assess the risks of today and help prepare them for those of the future.” As evidence mounts showing that EVs can be safer than traditional vehicles, insurers must adjust their risk assessments and pricing models accordingly.”

Mitigation 72

Mitigation Risk Underwriting Risk Assessment 72

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

Nanonets

APRIL 5, 2023

In the world of lending, risk management is crucial to success. But with a growing number of loan applications and an increasing number of delinquencies, how can lenders effectively manage risk without sacrificing efficiency? AI-enabled borrower pre-qualification against pre-set requirements.

Automation 52

Automation Process Risk Assessment Assessments 52

PYMNTS

APRIL 2, 2020

Combining this technology with artificial intelligence (AI) can boost customer engagement and have innumerable benefits for FIs of all sizes and types. It is key to risk management functions, which entail assessing the likelihood that any given transaction could be fraudulent or present a credit risk.

Credit Union 94

Credit Union Risk Risk Assessment Assessments 94

FICO

JUNE 28, 2018

SPDB Credit Card Center’s total number of credit card applications using originations driven by a big data AI analytics strategy has exceeded 9 million, since January 2017. During this incredible growth, SPDB has maintained a controllable risk level while increasing its origination rate more than two-fold to 88 percent of applications.

Credit Cards 51

Credit Cards Origination Risk Assessment AI 51

FICO

FEBRUARY 16, 2022

Rejection rates have always been higher among micro-businesses, small and medium-sized enterprises, due to the higher costs of serving customers, higher risk profiles for banks, alongside a lack of traditional data to enable accurate evaluation. Learn more about balancing risk, opportunity and reward when it comes to SME lending.

Transactions 52

Transactions Small Business Origination Credit Risk 52

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

The Fintech Times

DECEMBER 14, 2023

Flutterwave, the African payments technology company, has appointed Amaresh Mohan as chief risk officer, Stephen Cheng as EVP global expansion and payment partnerships and Amanda Ortega as head of compliance. Jenesys AI has bagged $1.1million in a pre-seed funding round.

FinTech 69

FinTech Online and Mobile Banking On-Demand Risk Management 69

FICO

SEPTEMBER 18, 2020

For the second year running, FICO has been named as category leader in the recently published Chartis ‘Cyber Risk Quantification Solutions 2020: Market Update and Vendor Landscape’ report. As the report shows, the market for Cyber Risk Quantification Solutions (CRQ) continues to show rapid growth.

Risk 52

Risk Assessments Underwriting Cybersecurity 52

FICO

AUGUST 7, 2019

At the point where a new customer orders new devices and / or voice, data, OTT services, DSPs need to make a risk assessment for credit, bad debt and fraud in order to understand the risk to the balance and balance against profitability. Network link analysis in order to proactively identify suspect fraud.

Risk Assessment 40

Risk Assessment Assessments API Best Practices 40

Nanonets

MAY 30, 2024

Coupa Procurement   Coupa is well-regarded for its robust procurement management capabilities, ideal for enterprises. Pros: Real-Time Budget Management:  Tracks budgets and spending in real time. AI and Machine Learning:  Enhances error and fraud detection. Cons: High implementation cost and time.

Automation 52

Automation Process P2P Compliance 52

PYMNTS

OCTOBER 16, 2019

A majority of FIs plan to invest more in financial crime compliance than fraud risk management, though 43 percent reported no integration between fraud and financial risk compliance. However, more than half (51 percent) characterized their AML risk assessment, specifically, as “very” or “completely” effective.

AML 49

AML Compliance Money Laundering Financial Crimes 49

Nanonets

JUNE 12, 2024

Nanonets Intelligent Automation, and Business Process AI Blog Karan Kalra Step 3: Negotiating better terms with suppliers through SPM Suppliers' performance management, or SPM, is the strategic way of managing and optimizing suppliers' performance.

Automation 52

Automation Adjustments Risk Assessment Process 52

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

Stax

NOVEMBER 27, 2023

Even if you’re not in the financial industry, you’ll need a payment processor or payment service provider (PSP) to start generating revenue, which means you’ll need to either have a proper risk management framework in place—or work with a PSP that has one.

Due Diligence 88

Due Diligence Money Laundering AML Financial Crimes 88

The Fintech Times

SEPTEMBER 19, 2024

However, risk orchestration is a process promising to help fintechs and financial institutions combine their customer onboarding, authentication and risk management processes into one place. “This is done through the integration of risk management, adaptive risk mitigation, process automation, and real-time analysis.

Risk 59

Risk Financial Crimes AML Risk Management 59