The Payments Association

DECEMBER 10, 2024

The growing threat of AI-related fraud puts financial institutions at risk of significant financial losses and jeopardises consumer trust and compliance with regulations. By analysing large datasets, AI can quickly recognise unusual behaviours and detect fraud in real time, significantly reducing the risk of fraudulent transactions.

AI 88

AI Fraud Detection Deepfake Fraud Prevention 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

The Payments Association

DECEMBER 9, 2024

The dual impact of generative AI on payment security, highlighting its potential to enhance fraud detection while posing significant data privacy risks. It underscores the need for payment firms to balance AI innovation with robust privacy and regulatory compliance to protect sensitive consumer data. Why is it important?

Privacy 88

Privacy AI Payment Security Security 88

Fintech News

FEBRUARY 14, 2024

Hawk AI, a Germany-based provider of artificial intelligence technology for fraud detection and anti-money laundering efforts, has announced Robin Lee as the new General Manager for its Asia-Pacific (APAC) operations. He brings deep expertise in regulatory compliance and outstanding knowledge of the anti-financial crime sector.

APACS 91

APACS AI Financial Crimes Money Laundering 91

Nanonets

DECEMBER 13, 2023

The integration of fraud detection algorithms is paramount for error reduction. These algorithms analyze patterns and anomalies in the data to identify potential instances of fraud or misrepresentation. This reduces the risk of unintentional non-compliance and helps insurers stay within the legal boundaries.

AI 102

AI Process Fraud Detection Compliance 102

Fintech Finance

NOVEMBER 14, 2024

65% of merchants plan to invest in artificial intelligence (AI) over the next 12 months, recognising its role in real-time fraud detection and improved payment performance. ” Facing new realities: SEPA Instant As Europe’s SEPA Instant payment deadline approaches on 9 January 2025, industry readiness remains uncertain.

Regulatory Compliance 71

Regulatory Compliance Payment APIs and Integration Cross-Border Payments Fraud Prevention 71

Segpay

FEBRUARY 21, 2024

Generative AI in Digital Payments: Enhanced Fraud Detection: Generative AI improves the security of digital payments by enhancing fraud detection mechanisms. This makes real-time detection and prevention possible. Fraud Detection Generative AI contributes to fraud detection and prevention in KYC processes.

AI 89

AI Innovation Fraud Detection Encryption 89

The Fintech Times

OCTOBER 24, 2024

Compliance with sanction screening, anti-money laundering ( AML ) and fraud detection requirements, including Verification of Payee checks, was identified as the top concern. Most banks are prioritising investments in risk and compliance to prepare for these upcoming changes.

Instant Payments 59

Instant Payments ISO 20022 Fraud Detection ISOs 59

Finovate

MARCH 13, 2024

The integration will bring automated crypto transaction monitoring and secure data storage, as well as ensure regulatory compliance. This will enhance regulatory compliance and secure data storage, as well as provide automated crypto transaction monitoring for Chainalysis’ clients.

Verification 59

Verification Blockchain Travel Rule Regulatory Compliance 59

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

Fintech Finance

AUGUST 2, 2024

ComplyTek introduces an advanced transaction screening solution for instant payments , designed to ensure compliance and mitigate fraud within the critical 10-second processing window. Leveraging machine learning and AI, the platform offers comprehensive monitoring and fraud detection capabilities. Faisal I. ,

Instant Payments 70

Instant Payments Transactions Payment APIs and Integration Compliance 70

Nanonets

MAY 31, 2023

Cybersecurity, fraud detection, and risk management: According to a Deloitte report , antifraud professionals hold that organizations face a greater risk of fraud than ever before, thanks to the advent of supply chain globalization, reliance on information technology, and rising economic instability.

AI 122

AI Finance Fraud Detection Mitigation 122

M2P Fintech

JANUARY 31, 2024

It aids FI s in maintaining regulatory compliance by providing a centralized platform for creating, delivering, and tracking compliance training modules, ensuring all employees receive the necessary training, and generating detailed reports for auditing.

Fraud Detection 59

Fraud Detection CRM Regulatory Compliance Compliance 59

The Fintech Times

MARCH 18, 2024

In the UK alone, fraudsters syphoned off £1.2billion in 2022, with almost 80 per cent of app fraud cases starting online. Investing in advanced solutions that can navigate the evolving regulatory landscape and protect against increasingly sophisticated tactics has become more critical than ever.

Fraud Prevention 59

Fraud Prevention AI Fraud Detection Payments 59

Fintech News

APRIL 28, 2024

Banks are facing growing challenges in protecting customer data, preventing unauthorized transactions, and ensuring compliance with regulatory requirements, the report says. Cloud tools powered by ML and pattern-matching algorithms are also being employed to detect and protect sensitive data from unauthorized access or usage.

AI 89

AI Innovation Financial Crimes Crime 89

The Payments Association

OCTOBER 4, 2024

Card-not-present (CNP) transactions, where the physical card is not involved (as in e-commerce), are particularly susceptible to fraud. In response, payment providers must invest heavily in advanced fraud detection tools like machine learning and artificial intelligence to quickly detect and prevent fraudulent activity.

Cross-Border Payments 88

Cross-Border Payments Online and Mobile Banking Cross-Border Alternative Payment Methods 88

Tearsheet

JULY 1, 2024

Two-factor authentication, encryption and fraud detection are minimum requirements. First and foremost, your security must exceed industry compliance standards. Another area is regulation and compliance. Security and privacy Data security and privacy are major concerns with new payment technologies.

BNPL 105

BNPL Online and Mobile Banking Encryption Payments 105

The Fintech Times

AUGUST 29, 2024

This includes Aadhaar, PAN, DL, voter ID, passport verifications, face match, liveness detection, geolocation check, bank account, and UPI ID verifications. The AI-powered fraud detection solution offers reliability by identifying suspicious activities, anomalies, and patterns indicative of fraudulent behaviour.

Checks 69

Checks Risk Assessment Security Payment APIs and Integration 69

Finovate

DECEMBER 11, 2024

LexisNexis Risk Solutions has signed an agreement to acquire document authentication and fraud detection solutions provider IDVerse. The acquisition will enhance LexisNexis Risk Solutions’ ability to combat emerging threats such as AI-generated fraud and deepfakes. Terms were not disclosed.

Risk 52

Risk Acquirers Deepfake Fraud Detection 52

Fintech Review

JULY 16, 2024

Regulatory compliance is crucial to ensure that data sharing practices adhere to legal standards and protect consumer rights. These technologies can provide more personalised financial advice, improve fraud detection, and offer more sophisticated financial management tools. Data security is a primary concern.

Innovation 98

Innovation Consumer API Financial Inclusion 98

The Fintech Times

DECEMBER 9, 2024

For instance, AI will redefine fintech by enhancing personalised customer experiences, improving fraud detection and credit scoring, automating operations, and fostering financial inclusion through cost-effective digital banking solutions. ” What have been the biggest challenges for in-person payments this year?

Payment APIs and Integration 97

Payment APIs and Integration Online and Mobile Banking AI Financial Inclusion 97

Clearly Payments

SEPTEMBER 13, 2024

Fraud Prevention and Security: Many payment orchestrators incorporate advanced fraud detection tools , leveraging machine learning and AI to identify and prevent fraudulent activities. They also ensure compliance with industry standards like PCI DSS.

Payment APIs and Integration 77

Payment APIs and Integration Multi-Currency Payments Gateways 77

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

Seon

JUNE 20, 2024

The regulation mandates that victims of APP fraud be reimbursed for losses up to £415,000, significantly higher than the industry-proposed threshold. This shift demands companies bolster their fraud detection and prevention capabilities to meet the new standards.

Fraud Prevention 52

Fraud Prevention Regulatory Compliance AML Instant Payments 52

The Fintech Times

APRIL 30, 2024

Joan McGowan, head of US financial services consulting at SAS “GenAI and AI-powered algorithms will drive the most meaningful innovation by enabling institutions to contextually analyse vast amounts of data to offer real-time financial insights, fraud detection, personalised recommendations and inclusivity.

Embedded Finance 109

Embedded Finance Finance Innovation AI 109

The Payments Association

OCTOBER 3, 2024

Enhanced processing systems translate to faster payments, immediate customer account updates, and superior fraud detection powered by AI and machine learning. These solutions empower organisations to manage the entire card lifecycle, from issuance to compliance, with minimal operational overhead.

Payment APIs and Integration 88

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

Seon

JULY 10, 2024

It ensures smooth processing and compliance for legitimate payments, primarily verifying transaction details, validating customer credentials, screening against sanctions and watchlists, and ensuring compliance with regulations. For regulatory compliance, they meet AML requirements by monitoring transactions above certain thresholds.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 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. 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

EBizCharge

JULY 16, 2024

Navigating electronic payments requires a thorough understanding of compliance standards set forth by governing bodies such as the National Automated Clearing House Association (NACHA) network. Authorization documents must be retained and made available upon request, serving as proof of compliance and legitimizing the transaction.

NACHA 52

NACHA Nacha Rules ACH Network ACH 52

Neopay

JUNE 27, 2024

To ensure compliance, firms must thoroughly familiarise themselves with the regulations applicable to their business models. Your senior team will all need to have understand the obligations on the firm and be able to prioritise regulatory compliance and its impact across the business.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52

Finovate

DECEMBER 11, 2024

There may be benefits to early compliance. Early compliance could give you a competitive edge by offering you time to create new products and services tailored to your customers. Regtech The ongoing fallout from the Synapse failure has created a renewed focus on regulatory compliance. Open banking/ Section 1033 For U.S.

FinTech 59

FinTech Stablecoins BNPL Cross-Border 59

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

PYMNTS

FEBRUARY 6, 2017

Bottomline Technologies assists its customers with domestic and international payments, effective cash management tools, automated workflows for payment processing and bill review, as well as fraud detection, behavioral analytics and regulatory compliance.

Faster Payments 46

Faster Payments Payment Networks Fraud Detection Regulatory Compliance 46

The Fintech Times

SEPTEMBER 23, 2024

Despite not having frameworks to use, businesses report a clear understanding of the benefits AI can offer, such as managing regulatory compliance (63 per cent); followed by fraud detection and prevention (62 per cent).

AI 66

AI Regulations Fraud Detection Regulatory Compliance 66

The Fintech Times

MAY 14, 2024

One of the most significant frustrations is the regulatory complexity and uncertainty that often accompany innovative fintech solutions. Navigating through a labyrinth of regulations and compliance requirements can be daunting, especially when these regulations vary across different regions and jurisdictions.

Privacy 64

Privacy Compliance FinTech Innovation 64

Segpay

NOVEMBER 26, 2024

Identity and Fraud Report” by Experian emphasizes the evolving fraud landscape and the necessity for businesses to implement multi-faceted digital identity verification strategies. Regulatory compliance is crucial in ensuring data privacy.

Verification 88

Verification Identity Theft Money Laundering Due Diligence 88

Clearly Payments

JANUARY 10, 2024

These barriers to entry are substantial, encompassing technological, regulatory, and competitive aspects. Regulatory Compliance: The payments industry is subject to a myriad of regulations and compliance requirements imposed by national and international authorities.

Processors 84

Processors ISOs Embedded Finance Payments 84