Fintech News

MARCH 20, 2024

Research by Sumsub shows that one in every 100 users of digital platforms globally became a victim of fraud ring activities in 2023. The incidence of network fraud in APAC is notably higher than in other regions, with Asia reporting an average of 2.6% said Vyacheslav Zholudev, CTO and co-founder of Sumsub.

APACS 99

APACS Fraud Prevention Deepfake Account Takeovers 99

The Fintech Times

AUGUST 17, 2024

As technology continues to advance, these platforms are becoming indispensable for investors seeking to streamline their research, make informed decisions, and execute purchases with greater efficiency. Digital platforms allow investors to complete the entire buying process online, from initial research to closing the deal.

Consulting 73

Consulting Research AI Blockchain 73

Stax

DECEMBER 4, 2023

An effective AML compliance program must include Know Your Customer (KYC) protocols, transaction monitoring and reporting, risk assessment and categorization, and training and awareness for staff. Risk assessment and categorization The first step towards mitigating risk is to assess it.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

Nanonets

SEPTEMBER 22, 2023

The  vendor selection process  consists of establishing business goals, locating and selecting the right vendor, conducting an initial risk assessment, negotiating  contracts ,  supplier onboarding , and  risk mitigation  and management. Establishing Business Goals 2.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40

FICO

JUNE 2, 2023

At FICO, we have been on the frontlines of this challenge for decades, working tirelessly to identify sources of safe and reliable alternative data to enhance the risk prediction of our scores, including our industry-leading FICO® Scores, such as the UltraFICO™ Score. More than 200 million U.S.

Credit Risk 52

Credit Risk Financial Inclusion Risk Assessment Assessments 52

CB Insights

MAY 18, 2021

Bouncer : California-based Bouncer is a card-scanning and risk detection technology platform that identifies fraudulent transactions by running automated card authentications. The post Stripe Acquires Bouncer To Integrate Card Authentication Into Its Fraud Detection Platform appeared first on CB Insights Research.

Fraud Detection 74

Fraud Detection Authentication Acquirers Risk Assessment 74

Nanonets

AUGUST 1, 2023

AI integration also significantly benefits risk assessment, allowing auditors to perform sophisticated analyses of a client's data, guiding them towards areas that demand closer scrutiny. The research revealed that a one-standard-deviation change in recent AI investments correlated with a 5.0% reduction in audit fees.

Audit 52

Audit Risk Assessment AI Assessments 52

PYMNTS

DECEMBER 14, 2020

AI can make it easier for financial institutions (FIs) to predict how likely their customers are to make timely payments and improve overall risk assessment capabilities. However, many FIs lack internal proficiency to use AI-assisted credit risk assessment for maximum effectiveness. Turns out AI now does this, too.

AI 87

AI Risk Assessment Online and Mobile Banking Credit Risk 87

PYMNTS

APRIL 24, 2020

These circumstances have brought to the fore what has long been a central concern for lenders: assessing and managing credit risk. This vital task is complicated even in normal times due to the multitude of financial risk factors in play at any given time. percent reported using AI for underwriting and risk assessment purposes.

Credit Risk 100

Credit Risk Risk AI Underwriting 100

Fintech News

JUNE 3, 2024

In the insurance industry, AI is also poised to enhance risk assessment, offer customized coverage, improve incident monitoring, and streamline operations, it says. Cybersecurity Ventures, a researcher and publisher covering the global cyber economy, predicts that this cost will grow by 15% per year in the near term, reaching US$10.5

Ransomware 101

Ransomware APACS Cybersecurity AI 101

Seon

JUNE 29, 2023

Part of staying compliant with KYT – and thus avoiding fines – involves assessing how effectively your organization has implemented the process. It achieves this through transaction and behavior monitoring, risk assessment, and alert generation.

Transactions 52

Transactions Due Diligence Money Laundering AML 52

FICO

SEPTEMBER 15, 2022

“We have been on a journey in Saudi since 2011, to grow lending and increase financial inclusion through the adoption of advanced risk assessment tools,” said Swaied Alzahrani, CEO of SIMAH. Prior to the implementation, lenders in the region had been relying heavily on salary data to assess a consumer’s propensity to repay a loan.

Financial Inclusion 52

Financial Inclusion Risk Assessment Assessments Risk 52

Fintech Finance

FEBRUARY 29, 2024

Together, Socure and Trustly’s combined capabilities increase conversion rates and shorten user onboarding by up to 5x, according to Trustly’s research. Deepfakes, synthetic identities and account takeover fraud are growing threats that require advanced identity proofing and risk assessment.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

The Fintech Times

SEPTEMBER 14, 2024

Incorporating high-quality, comprehensive data enables teams to assess risk more accurately and make informed decisions, leading to proactive risk management and fostering innovation and competitive advantage in the industry.”

Compliance 67

Compliance AI Process Suspicious Activity Report (SAR) 67

Nanonets

AUGUST 1, 2023

With research showing that adopting audit automation tools can significantly reduce costs and save time, there has been a shift towards increased technology utilization.  The Risk Assessment: Audit automation helps auditors assess risks more effectively by identifying potential red flags and areas of concern within the data.

Audit 40

Audit Automation Risk Assessment Payment APIs and Integration 40

The Fintech Times

MARCH 12, 2024

. “The use of targeted geospatial data at point of quote through data enrichment or in map form through geospatial data visualisation tools such as LexisNexis® Map View, is helping to identify customers and properties at present or future risk – from flood to subsidence to windstorm activity.

Mitigation 70

Mitigation Risk Underwriting Risk Assessment 70

Nanonets

DECEMBER 13, 2023

Risk Assessment and Compliance Prediction: AI can assist in proactively identifying potential compliance risks by analyzing historical data and patterns. In addition, AI employs predictive analytics to assess and analyze historical claims data. Encryption techniques and access controls further enhance data protection.

AI 102

AI Process Fraud Detection Compliance 102

PYMNTS

MARCH 13, 2017

Emailage, the email risk assessment company, has found that during 2016 $1 billion in fraud was stopped by using technology and a syndicated network of global merchants. Research by Aite predicts that by 2020 card-not-present (CNP) fraud will reach $7.2 billion in the U.S. CNP fraud is on the rise in the U.S.

Risk Assessment 40

Risk Assessment EMV Assessments Risk 40

PYMNTS

NOVEMBER 18, 2020

K Health is also funded in part by Maccabi, the second largest HMO in Israel, and its tech incubation arm, Morris Kahn Institute for Research and Innovation. . The startup’s collaboration with Mayo Clinic adds to its existing partnerships with Anthem health insurance and the Israeli health maintenance organization (HMO) Maccabi.

Risk Assessment 93

Risk Assessment NOV Assessments Returns 93

FICO

APRIL 12, 2023

And while some of our clients’ business lines benefit from the very latest innovations, others such as mortgage continue to find that older versions of the FICO® Score – even some that were first developed decades ago – meet their needs for credit risk assessment. in management science/operations research from UC San Diego.

Credit Risk 52

Credit Risk Risk Assessment Assessments B2C 52

Seon

APRIL 23, 2024

As an umbrella term, fraud risk management encompasses the systematic processes of identifying, assessing and responding to an organization’s fraud risk. For each risk, assess the probability and likely severity, then align the identified risks with the organization’s appetite for risk, classifying them in order of priority.

Risk Management 40

Risk Management Risk Technology Fraud Detection 40

FICO

JULY 31, 2019

As TPRM or third-party risk management grows in importance, so does cybersecurity risk assessment as part of it. The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management.

Risk 70

Risk Security Risk Assessment Risk Management 70

PYMNTS

APRIL 10, 2020

percent of organizations in this sector currently use AI, according to PYMNTS’ latest research. The study is part of the larger Unlocking AI series by PYMNTS, examining how AI and other computational systems are being used to manage critical business functions, including payments, regulatory compliance, risk assessment and fraud protection.

AI 144

AI Fraud Detection Regulatory Compliance Risk Assessment 144

Nanonets

AUGUST 1, 2023

Internal audits play a crucial role in assessing a company's internal controls, corporate governance, and accounting processes. 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.

Audit 52

Audit Automation Risk Assessment Bots 52

PYMNTS

MARCH 6, 2020

PYMNTS’ latest research seeks to distinguish the real from the hype when it comes to genuine AI adoption in the financial sector. Even more significantly, our research shows that FIs are using AI with greater focus than they have in the past, with two areas emerging as key applications: payments fraud and credit risk.

AI 81

AI Credit Risk Regulatory Compliance Risk Assessment 81

FICO

DECEMBER 2, 2019

“Cyber insurers all too frequently see the devastating impact that poor vendor risk management can have on an organization,” said Richard Spotswood, Head of Cyber & Technology at Barbican Insurance. A new report from Chartis Research named FICO as a category leader in cyber risk quantification. by FICO.

Risk 52

Risk Data Breach Breach Assessments 52

Seon

SEPTEMBER 20, 2023

Onboarding ensures the KYC process is worthwhile and well-informed by verifying the identity of prospective customers and assessing their risk level. Assess the screening results to determine whether the PII and the individual are eligible to pass the KYC onboarding stage and progress to the KYC process.

Process 52

Process Due Diligence AML Verification 52

Fintech News

SEPTEMBER 17, 2024

An approach towards measuring explainability” , Prof Sun — who is also Co-Director of the Centre for Research for Intelligent Software Engineering ( RISE ) — introduces a functional paradigm that organisations can take in selecting the right models for their business.

Mitigation 52

Mitigation Risk Assessment On-Demand Research 52

The Fintech Times

OCTOBER 26, 2024

AI is boosting risk management and personalisation During Huawei’s Finance Forum at GITEX, Dr. Jassim Haji , an international expert, strategist and researcher in AI and digital transformation, delved into how AI is enabling real-time risk assessment and fraud detection, reducing the manual processes that typically slow banks down.

Finance 67

Finance Ransomware Fraud Detection AI 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. Singlife’s research indicates that a staggering 53% of gig workers lack any form of insurance to protect against accidents and potential income loss.

Online and Mobile Banking 102

Online and Mobile Banking Innovation Blockchain Fraud Detection 102

FICO

MARCH 9, 2020

Banreservas changed the way it does business,” said Mike Gualtieri, VP & Principal Analyst at Forrester Research, one of the FICO Decisions Awards judges. “I I gave Banreservas high marks for significantly improving its risk assessment of consumers whilst issuing loans faster.”.

Automation 52

Automation Origination Risk Assessment Assessments 52

FloQast

MAY 13, 2024

FloQast research has affirmed the potential positive effects of tech integration – which typically results in “significant improvement against accounting team burnout”. Accounting teams can be resistant to change, with research suggesting that up to “90% of technology projects fail to deliver any measurable ROI”.

Compliance 52

Compliance Audit Automation Accounts 52

Fintech News

OCTOBER 16, 2024

This will involve understanding the key indicators and outcomes that will enable the assessment of progress towards equitable financial outcomes, and identifying areas for further intervention and investment.

FinTech 110

FinTech Cross-Border Payments AI Innovation 110

PYMNTS

DECEMBER 9, 2020

Banks that use AI-driven predictive models are able to detect the risk of delinquency as many as 12 months before a customer ever misses a payment, providing banks and their customers the breathing room they need to take action. The practical applications for AI extend far beyond credit risk assessment and detection, however.

Credit Risk 98

Credit Risk AI Risk Fraud Detection 98

The Fintech Times

APRIL 26, 2024

While the financial sector is demonstrably rising to the occasion and taking AML seriously, our research also captures the significant challenges firms still face. . “This landmark PwC survey provides invaluable insights into how firms have responded to recent regulatory and technological shifts.

AML 57

AML Regulations Financial Crimes Money Laundering 57

PYMNTS

MARCH 22, 2019

They also ensure that all contract data is stored on blockchain, thus reducing risk of fraud,” he said. It is in the context of risk assessment that artificial intelligence (AI) can play a role in invoice financing, said the executive. Risk can be predicted accurately, if all this data is incorporated in an algorithm.

Blockchain 65

Blockchain Finance Risk Assessment Due Diligence 65

PYMNTS

SEPTEMBER 25, 2018

The updates include connectivity with third parties, allowing its Fusion Framework System users to engage with their suppliers and other third parties in supply chains to streamline the vendor risk assessment process. The enhancement means third parties can more easily participate in a holistic risk mitigation strategy, Fusion noted.

Risk Management 73

Risk Management Risk Risk Mitigation Risk Assessment 73