FICO

SEPTEMBER 19, 2018

While AI has been used for more than 25 years in credit fraud detection , few people outside the banking sphere were aware of this. I was interviewed recently for a new TV program called Tomorrow’s World Today , and its episode on "Managing Money for Tomorrow". Here’s part of that interview: Want to see more?

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Financial Crimes Crime AI Fraud Detection 40

The Fintech Times

FEBRUARY 21, 2024

. “All businesses are at risk, and many need to take urgent action to bolster their defences against fraud and financial crime. The ‘failure to prevent fraud’ offence introduced by the Economic Crime and Corporate Transparency Act 2023 may just provide the extra incentive to do so.”

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Financial Crimes Crime Compliance Scams 59

PYMNTS

NOVEMBER 30, 2020

WatchDOG AML is a “holistic” anti-money laundering ( AML ) solution that works to prevent financial crime by “identifying suspicious activity in real time with an enterprise transaction monitoring system,” the companies said in a statement on Monday (Nov.

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Money Laundering Financial Crimes AML Crime 63

Fintech News

APRIL 28, 2024

Deloitte estimates that approximately 30% of the revenues in the financial services industry will be generated through cross-industry ecosystems by 2025. Financial crime continues to evolve at a fast pace as fraudsters tap more sophisticated and advanced methods to circumvent detection.

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AI Innovation Financial Crimes Crime 109

FICO

MARCH 5, 2021

This leaves many at financial institutions wondering what they should look for to identify the best solution for their company. Download the Chartis Financial Crime Risk Management Systems: Enterprise Fraud Market Update and Vendor Landscape, 2021, to help you chose your next enterprise fraud solution.

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Fraud Detection Financial Crimes Crime Risk Management 52

Neopay

JUNE 27, 2024

Many in financial services have been concerned that some elements of the FCA’s more stringent approach may not always be justified by reductions in financial crime and money laundering or consumer protection. Compliance with AML and Financial Crime Regulations AML and financial crime compliance is a top priority for the FCA.

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Financial Crimes Money Laundering Compliance Crime 52

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. The webinar aims to delve into the significant influence of AI on the financial sector, particularly in risk management.

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FinTech Embedded Finance BNPL AI 133

FICO

JANUARY 12, 2022

From fraud and financial crimes technology convergence to the need for explainability in your technology (particularly your AI/ML model outcomes), there is no shortage of thorny, complex issues to tackle in your own enterprise fraud management. Fraud and Financial Crime Technology Convergence.

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Technology Financial Crimes Crime Fraud Detection 52

Fintech News

JANUARY 18, 2024

Much like its uber-popular consumer applications like OpenAI’s ChatGPT, generative AI offers the prospect of heightened efficiency and innovation within financial services in Asia. It achieves this by merging an entity-focused view of risk with the rapidity and user-friendliness of generative AI.

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AI Financial Crimes Crime SWIFT 106

Seon

JULY 10, 2024

However, the two often overlap, as both contribute to an organization’s overall risk management and compliance efforts. Fraud Monitoring Versus Fraud Transaction Monitoring The difference between fraud monitoring and fraud transaction monitoring lies in the scope and focus of the monitoring activities.

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Transactions Fraud Prevention Regulatory Compliance Payments 52

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.

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Instant Payments Transactions Payment APIs and Integration Compliance 94

FICO

DECEMBER 4, 2018

I’m excited to announce that FICO has been named as a category leader in the Chartis Financial Crime Risk Management Systems for Enterprise Fraud report. FICO’s capabilities in a broad range of anti-fraud functions resulted in consistently good scores across the categories.

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Financial Crimes Crime Risk Management Fraud Detection 45

FICO

AUGUST 3, 2022

For payments, risk, fraud prevention and financial crimes professionals, FICO World 2022 delivered a wealth of information on rapidly emerging trends and solutions. Innovative Customer Communications for Fraud. Convergence – Beyond Fraud and Financial Crime Compliance.

Financial Crimes 52

Financial Crimes Crime Scams Bots 52

Global Fintech & Digital Assets

NOVEMBER 1, 2023

AI has huge transformative potential for the financial services sector; it could be used to improve operational efficiency, create more innovative products, hyper-personalise products and services, improve customer service, and tackle financial crime, to name but a few use cases.

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AI Regulations Financial Crimes Governance 52

FICO

JUNE 1, 2023

What AI-powered transaction monitoring can do better, faster, and cheaper than a large group of humans is pull vast data together from many sources to find patterns fast and help with fraud detection in real-time. Customer experience improvement: Just as AI can crunch a load of disparate fraud-related data faster than K.I.T.T.

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AI Fraud Detection Risk Management Use Case 59

FICO

DECEMBER 10, 2020

In light of the rapid changes we have seen in consumer spending during the pandemic , the contribution of additional data (such as on-time bill payment and of inflow/outflow of funds) will become ever-more important in fraud detection, risk management and marketing.

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AI Fraud Detection Payment APIs and Integration On-Demand 98

FICO

MARCH 6, 2020

In September 2019, Fico and Visma announced their partnership to Offer SaaS Anti Financial Crime Solutions in Western Europe. I also manage the partner channels and programs for our financial crime compliance solutions. For more than two decades I have now been working in the financial services industry.

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Financial Crimes Crime Compliance Technology 81

FICO

JUNE 15, 2023

Our report opened my eyes because 77% of consumers worldwide say they want their banks to implement better fraud detection in general. TJ Horan TJ Horan is vice president of Product Management at FICO, leading the Solution Product Management team for Lifecycle Products. TJ holds a B.S. in computer science and a M.S.

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Scams Real Time Payments Smishing Same Day ACH 52

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. “Risk orchestration also helps to improve collaboration and communication between different teams and departments. .”

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Risk Financial Crimes AML Risk Management 59

FICO

SEPTEMBER 20, 2022

As for me, I’m a software guy and payments professional doing my best to roll with the changes in an ever-shifting fraud landscape. There can sometimes be a big disconnect between the leading edge of analytic innovation, where Scott lives, and the everyday trenches of the war on financial crimes, where I am. TJ holds a B.S.

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AI Financial Crimes Rules Adjustments 52

Seon

MAY 10, 2024

Through automating tasks that used to take up much of an analyst’s time, case management systems can quickly highlight and prioritize the most severe alerts. This enables analysts to use their time effectively, closing alerts more swiftly and improving their risk management.

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AML Money Laundering SARS Suspicious Activity Report (SAR) 52

FICO

JANUARY 19, 2022

From TBML to BNPL to NFTs, 2021 found fraud and financial crime professionals dealing with a plethora of new challenges and criminal schemes. Our five most popular posts of the year dealt with trade-based money laundering, non-fungible tokens, buy now pay later scams, courier scams and good old credit card fraud.

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Financial Crimes Crime Money Laundering NFTs 52

Fintech News

DECEMBER 13, 2023

The key to adhering to these ever-changing mandates is to enable compliance teams to remain agile and have the ability to recalibrate or reconfigure their financial crime compliance processes. Marc recommended implementing robust risk detection controls and processes.

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Financial Crimes Money Laundering Crime Compliance 115

Fintech Labs Insights

MAY 30, 2017

.” Andreas Pages of Swisscom’s Business Unit Fintech highlighted NetGuardians’ technology as the kind of “agile and compelling software” that will improve risk mitigation for FIs. “Their highly innovative technology is changing the way to fight financial crime,” Pages said.

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Risk Mitigation Fraud Detection Financial Crimes Crime 15

FICO

MAY 3, 2023

Jonathan Williams from the UK Payment Systems Regulator will be giving an overview of the UK's experience, how it is tackling financial crime and achieving true innovation, and what emerging and potential markets can take away from the UK’s experience. Fortunately managing APP fraud is an area of expertise for FICO.

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Scams Real Time Payments Fraud Detection Innovation 52

FICO

NOVEMBER 1, 2022

Fraud Controls Are Important to Canadian Customers. Fraud protection is an important factor for Canadians when they select a new financial services provider. Application Fraud – Hot topic Q&A: learn from Andy Pollock, our application fraud expert about the impact of first-party, third-party and synthetic identity fraud.

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Checks Risk Identity Theft Accounts 52

The Payments Association

OCTOBER 14, 2024

While some argue that the reduced cap will alleviate the financial strain on smaller PSPs, others, such as fraud prevention experts, feel it weakens the push for stronger fraud detection systems within the industry. Regular reviews and updates of these measures are expected to adapt to evolving fraud tactics​.

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Caps Fraud Prevention Fraud Detection Scams 88

FICO

OCTOBER 7, 2022

Learn how our responsible AI helps drive innovation in our fraud detection and prevention solutions. Read more about the impact of synthetic identity fraud in application fraud. Discover how account takeover (ATO) fraud is hurting both banks and consumers , and what you can do to stop it. TJ holds a B.S.

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BNPL Account Takeovers CFPB Consumer Financial Protection Bureau (CFPB) 52