FICO

AUGUST 12, 2021

Sanctions screening is also difficult to conduct without visibility into funds origins or final destinations. To operate with Open Banking’s new demands in mind, FIs should consider these and other emerging risks as they augment financial crimes compliance programs to address Open Banking head on. by Erik Stretz.

Financial Crimes 52

Financial Crimes Compliance Crime Risk 52

FICO

NOVEMBER 21, 2022

Financial institutions that can spot it happening before credit is extended are not only protecting themselves but also their customers who may otherwise find themselves on an unintentional path to criminal behaviour. Digital-First Originations: Why Friction Counts in Small Amounts. How FICO Can Help You Fight Application Fraud.

Best Practices 52

Best Practices Risk Financial Crimes Wire 52

PYMNTS

OCTOBER 13, 2017

A recent whitepaper by G2 Web Services , titled “Why Reputation Monitoring Matters for Strong KYC,” found that manual searches for consumer complaints and negative news about banking customers has its limits. In banking, you might only be as good as your latest customer’s reputation. Sound far-fetched? Consider Know Your Customer (KYC).

Risk 46

Risk Consumer Financial Protection Bureau (CFPB) Due Diligence Third-Party Sender 46

FICO

NOVEMBER 8, 2022

It’s also part of the originations process. It can enable high trust, so bringing it together with originations will allow legitimate customers to be fast-tracked through their applications. The key for providers is to understand that identity verification isn’t simply about fraud prevention. Often the two operate in silos.

Scams 52

Scams Authentication Fraud Prevention Push-to-Card 52

FICO

DECEMBER 5, 2022

Consumer education regarding secure online behavior must become an important part of the architecture; FIs must help consumers understand that no internal control at the institution can prevent security problems that originate at the source. Rather, the best way to address a problem is to prevent it from happening.

Online and Mobile Banking 52

Online and Mobile Banking Authentication Identity Theft Security 52

FICO

DECEMBER 13, 2022

Our survey data shows, that even a little too much friction in the process, especially relating to identity checks, dissuades many customers from completing an originations process. Customers Resist Friction. How FICO Can Help You Fight Application Fraud. Download the white paper on this survey.

Security 52

Security Account Takeovers Authentication Payee 52

PYMNTS

OCTOBER 7, 2019

Others have used the occasion of Libra’s launch to further elevate the threat of money laundering and the potential for financial crimes – with crypto specifically and cross-border money movement more generally. Except that’s not what the Libra whitepaper says. So now what?

Regulations 79

Regulations Payment Networks Cross-Border Cryptocurrency 79