Fintech News

FEBRUARY 4, 2024

It promises to deliver improved fraud detection rates by an average of 20% and up to 300% in certain cases, thanks to its ability to process and enhance the overall DI score within a remarkable timeframe of less than 50 milliseconds.

Fraud Detection 88

Fraud Detection Visa AI Payments 88

Payments Dive

JULY 2, 2024

Research from the investment bank Jefferies suggests generative artificial intelligence could be used in the payments industry to improve fraud detection and make transactions happen faster.

Fraud Detection 178

Fraud Detection AI Payments Research 178

Bank Automation

APRIL 29, 2024

Jack Henry’s financial institution clients can tap into the tech provider’s direct API connection to benefit from data aggregation, personal financial management and fraud detection tools, Nicole Harper, director of corporate strategy at Jack Henry, told Bank […]

Financial Literacy 128

Financial Literacy Fraud Detection API Technology 128

Bank Automation

MAY 2, 2024

Card giants Mastercard and Visa leaned into AI and generative AI for fraud detection in the first quarter. “We continue to enhance our solutions with generative AI to deliver even more value,” Chief Executive Michael Miebach said during Mastercard’s May 1 earnings call.

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Visa AI Fraud Detection Continuity 124

Finextra

OCTOBER 22, 2024

Regulators must define a “minimum set of data” to be shared between banks that would still “serve the purpose” of fraud detection and prevention, said Michele Gentile, head of group correspondent banking, APAC, UniCredit, at Sibos today.

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Correspondent Bank Regulations Fraud Detection Correspondent 111

Finextra

MAY 6, 2024

Welcome to the Dawn of Enhanced Fraud Detection. In the modern era of digitalisation, financial tra.

Fraud Detection 105

Fraud Detection Payments 105

The Paypers

AUGUST 27, 2024

iDenfy , a regtech solutions provider based in Lithuania, has introduced a new face authentication service aimed at detecting fraudulent biometrics.

Fraud Detection 68

Fraud Detection Authentication 68

VISTA InfoSec

JULY 19, 2024

As fraudsters are continuously finding new ways to strike, we’re continuously finding new ways to prevent them with controls such as encryption, multi-factor authentication, fraud detection software, etc. Why PCBs matter in cybersecurity When looking for ways to protect our devices against fraud, we always turn to external defenses.

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Cybersecurity Encryption Fraud Detection CHIPS 264

Fintech Finance

SEPTEMBER 26, 2024

Justt , a leader in AI-powered chargeback mitigation, today announced a strategic partnership with Ravelin , a global provider of AI-native fraud detection and prevention solutions.

Fraud Prevention 98

Fraud Prevention Fraud Detection AI Disputes 98

The Payments Association

SEPTEMBER 20, 2024

How open banking can reshape finance, enabling personalised services, streamlined verification, and improved fraud detection. Read more

Fraud Detection 100

Fraud Detection Innovation Verification Finance 100

The Fintech Times

JUNE 1, 2024

To find out how efforts of pitting AI against AI are taking shape, and how this could evolve in the future, we take a look at some of the latest anti-fraud approaches utilising AI. Kate Frankish, chief business development officer and anti-fraud lead at Pay.UK This would equate to over £112million worth of fraud detected annually.

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SWIFT AI Fraud Detection Fraud Prevention 124

Fintech News

DECEMBER 10, 2024

Swift, the global financial messaging service provider, is collaborating with Google Cloud to develop innovative anti-fraud technologies. This approach enhances fraud detection capabilities while ensuring data confidentiality.

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SWIFT AI Innovation Fraud Detection 95

Fintech News

JUNE 2, 2024

This initiative could transform confidential data sharing and improve global fraud detection. Additionally, the tests could lead to the wider use of information sharing in fraud detection, building on its success in assessing cybersecurity threats.

Cross-Border Payments 125

Cross-Border Payments Cross-Border SWIFT AI 125

Fintech Finance

OCTOBER 24, 2024

The relationship leverages both companies’ extensive transactional data and expertise, augmenting Worldline’s payment services with Cybersource Decision Manager solution to provide businesses with powerful fraud detection across industries.

Fraud Detection 105

Fraud Detection Payment APIs and Integration Fraud Prevention Value Added Service 105

BioCatch

DECEMBER 10, 2024

First party fraud, or friendly fraud, is gaining renewed interest as businesses lose an estimated $50 billion each year. Get recommendations on the technology and controls banks can adopt to address this growing trend.

Fraud Detection 52

Fraud Detection Addressing Technology Fraud Prevention 52

Fintech Finance

AUGUST 15, 2024

Sionic , a leading provider of real-time, Pay-by-Bank Commerce (PbBC) services, today announced the launch of its comprehensive fraud detection and mitigation service built exclusively for real-time, bank-to-bank payments at checkouts, whether online, mobile or in-store.

AI 97

AI Fraud Detection Technology Real Time Payments 97

The Payments Association

DECEMBER 10, 2024

As payment systems become more digitised and interconnected, the attack surface expands, and the stakes for payments firms to invest in robust, AI-driven fraud detection and prevention systems have never been higher. fingerprints, facial recognition), and behavioural biometrics (e.g., keystroke dynamics or mouse movements).

AI 88

AI Fraud Detection Deepfake Fraud Prevention 88

Fintech Finance

OCTOBER 16, 2024

Swift today announced that it is rolling out new AI-enhanced fraud detection to help the global payments industry step up its defence as bad actors grow increasingly sophisticated. The group has so far developed a number of fraud detection use cases which are set to be tested in a sandbox environment.

Cross-Border Payments 98

Cross-Border Payments Cross-Border SWIFT AI 98

Fintech Finance

OCTOBER 28, 2024

Worldpay ® and Capital One have joined forces in a new collaboration to optimize payment fraud decisioning and enhance payment security and efficiency with a data sharing agreement. Strengthened fraud controls can have the unwanted consequence of increasing the rate of false positive declines.

Authorization 103

Authorization Transactions Fraud Detection Issuers 103

Finovate

JUNE 11, 2024

Identity proofing and fraud detection company AuthenticID launched a new solution today to detect deep fake and generative AI injection attacks. This works to bypass traditional fraud detection and identity verification methods.

AI 105

AI Fraud Detection Deepfake Verification 105

Fi911

DECEMBER 19, 2023

This scale of fraud is challenging for systems dependent solely on human detection, especially considering the increasing volume of online transactions. Initially reliant on automated and rule-based systems, financial institutions are now turning to machine learning for more effective fraud detection.

Fraud Prevention 92

Fraud Prevention Fraud Detection Point-of-Sale (POS) Online and Mobile Banking 92

The Payments Association

FEBRUARY 19, 2024

Artificial intelligence’s impact on the payments landscape is nothing short of transformative – from personalised customer experiences and seamless cross-border transactions to enhanced security and prompt fraud detection, AI-driven innovations […] Read more

AI 88

AI Transactions Fraud Detection Cross-Border 88

Payments Next

OCTOBER 24, 2024

By Harald Walden, CTO, Brite Payments For financial institutions (FIs), the rising threat of fraud makes exploring and adopting more robust fraud detection The post Can Pay by Bank Solve the $41 Billion Card Fraud Crisis? first appeared on Payments NEXT.

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Fraud Detection Posting Payments Credit Cards 88

Finezza

JANUARY 4, 2024

A combination of superior risk assessment, fraud detection capabilities, and quick and accurate underwriting turnaround can transform a lender’s success rate with borrowers and reduce non-performing assets. The revenue growth and profitability of a lending business depend on several factors.

Transactions 94

Transactions Fraud Detection Risk Assessment Underwriting 94

Fintech Finance

OCTOBER 23, 2024

Compliance with sanction screening, anti-money laundering (AML) and fraud detection requirements, including Verification of Payee check, was identified as the top concern. Banks show similar alignment in their approach to sanction screening and fraud detection.

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Instant Payments ISO 20022 Regulations Fraud Detection 105

Finextra

OCTOBER 15, 2024

As financial institutions grapple with the increasing complexity of fraud in the digital age, the need for adopting advanced technologies like AI and real-time data analysis becomes clear. With a 50% boost in fraud detection through AI, this interview underscores the urgency for banks and fintechs to evolve their security strategies.

Fraud Detection 98

Fraud Detection Value Added Service AI Addressing 98

The Payments Association

JUNE 26, 2024

Key challenges include ensuring payment security amidst increasing cyber threats, which necessitates the use of robust encryption, tokenization, and fraud detection systems. The digital payments landscape is evolving rapidly due to technological advancements and changing consumer preferences.

Digital Payments 110

Digital Payments Fraud Detection Regulatory Compliance Encryption 110

TechCrunch Fintech

MARCH 5, 2024

The company launched its payments orchestration product in 2022 and provides over 300 payment methods with fraud detection capabilities, one-click checkout and advanced smart routing technology. © 2024 TechCrunch. All rights reserved. For personal use only.

Fraud Detection 84

Fraud Detection FinTech Product Technology 84

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. From fraud detection to customer support, AI-driven solutions are revolutionising how payments are processed and safeguarded. What is this article about?

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Privacy AI Payment Security Security 88

Fintech News

FEBRUARY 15, 2024

The rise of real-time fraud detection According to these experts, 2024 will see the rise of real-time fraud detection, driven by advancements in AI and the escalating challenge of fraud. At the same time, the advent of real-time payments will prompt the need for real-time fraud detection and prevention.

Innovation 121

Innovation FinTech Cross-Border Payments Cross-Border 121

The Payments Association

NOVEMBER 20, 2024

Why are AI tools especially effective at fighting fraud? The technology is gaining traction because these tools excel at fraud detection in several ways. First, AI tools have much higher throughput than manual or non-software-based detection methods. For example, say you have an AI fraud solution configured to parse text.

AI 88

AI Fraud Detection Identity Theft Account Takeovers 88

Bank Automation

SEPTEMBER 9, 2024

Citizens Bank has deployed generative AI and automation in operations for activities including coding, customer service and fraud detection, and the efficiency gains are adding up. “We

AI 85

AI Fraud Detection Automation Security 85

The Paypers

MARCH 5, 2024

Digital ID verification provider IDVerse has announced the launch of its FraudHub solution, aiming to improve fraud detection and prevention for businesses globally.

Fraud Detection 76

Fraud Detection Verification 76

Finextra

FEBRUARY 16, 2024

Yogesh Patel, CTO, Outseer, discusses how the evolving capabilities of artificial intelligence are reshaping fraud detection and prevention, particularly in banking.

AI 89

AI Fraud Detection Mitigation Security 89

The Paypers

OCTOBER 17, 2024

Swift has announced its plans to introduce a new AI-enabled fraud detection to support the global payments sector in mitigating fraudulent activities.

SWIFT 73

SWIFT AI Fraud Detection Mitigation 73

Fintech News

APRIL 2, 2024

Leveraging software and artificial intelligence, it aims to streamline operations such as customer onboarding, financial crime monitoring, fraud detection, and compliance.

Security 103

Security FinTech Fraud Detection Financial Crimes 103

Fintech News

MAY 22, 2024

This enhanced capability allows Mastercard to detect complex fraud patterns and protect future transactions against emerging threats. The generative AI-based predictive technology has doubled the detection rate of compromised cards while simultaneously reducing false positives in fraud detection by up to 200%.

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Compromise Visa AI Fraud Detection 116