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 80

Regulatory Compliance Payment APIs and Integration Cross-Border Payments Fraud Prevention 80

The Fintech Times

NOVEMBER 16, 2024

To this end, 65 per cent 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. Respondents also identified PSD3 and APP fraud regulations as one of the upcoming transformational trends in the industry (50 per cent). .

Fraud Prevention 59

Fraud Prevention Compliance Regulatory Compliance AI 59

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

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

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. Encryption techniques and access controls further enhance data protection.

AI 102

AI Process Fraud Detection Compliance 102

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. In fact, 42 per cent of organisations are dedicating the majority of their budgets to regulatory compliance.

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

The Fintech Times

MARCH 18, 2024

Investing in advanced solutions that can navigate the evolving regulatory landscape and protect against increasingly sophisticated tactics has become more critical than ever. These algorithms learn from historical trends and predict potential fraud risks before they even happen.

Fraud Prevention 59

Fraud Prevention AI Fraud Detection Payments 59

M2P Fintech

JANUARY 31, 2024

Fraud Detection Module Fraud Detection Module benefits FIs by preventing illegal or destructive activities before they occur. Utilizing data analytics, machine learning, and behavioral analysis, fraud detection systems identify patterns of suspicious behavior to proactively safeguard against potential fraud.

Fraud Detection 59

Fraud Detection CRM Regulatory Compliance Compliance 59

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

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

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

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 79

Payment APIs and Integration Multi-Currency Payments Gateways 79

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

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

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

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.

Instant Payments 79

Instant Payments Transactions Payment APIs and Integration Compliance 79

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

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. Can you share any winning and losing strategies in the payments space from this year?

Payment APIs and Integration 97

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

Fintech News

APRIL 28, 2024

By leveraging, advanced technologies such as cloud computing, AI/ML, biometric authentication, anomaly detection algorithms, and real-time monitoring systems, banks can enhance their fraud detection capabilities, identify suspicious patterns, and mitigate risks more effectively.

AI 93

AI Innovation Financial Crimes Crime 93

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

Fintech Review

DECEMBER 3, 2024

AI-powered fraud detection systems analyse patterns to identify suspicious activity in real time. Regulatory compliance adds further complexity, demanding robust systems and staff training. Fingerprint and facial recognition enhance security while simplifying transactions.

Payment Solutions 86

Payment Solutions Payments Contactless Payments Online and Mobile Banking 86

Tearsheet

JULY 1, 2024

Two-factor authentication, encryption and fraud detection are minimum requirements. Again, partnering with knowledgeable service providers who can stay up-to-date on current regulations or consulting legal experts can help businesses stay on top of regulatory compliance.

BNPL 105

BNPL Online and Mobile Banking Encryption Payments 105

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

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. Implementing advanced data management solutions enables seamless data integration and real-time analytics and ensures regulatory compliance.

Payment APIs and Integration 88

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

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

JULY 10, 2024

While both types of monitoring aim to protect businesses and their customers, fraud transaction monitoring focuses more on identifying and preventing criminal activities. In contrast, payment transaction monitoring ensures regulatory compliance and the proper processing of legitimate transactions.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

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

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

The Payments Association

DECEMBER 18, 2024

Real-time fraud detection systems will enhance trust and security by identifying and mitigating risks instantly. AI-powered regulatory compliance tools will streamline adherence to complex regional mandates, boosting efficiency and accuracy.

Cross-Border 88

Cross-Border AI Push-to-Card Real Time Payments 88

Seon

SEPTEMBER 20, 2024

AI and ML have shown potential in document processing and fraud detection. Differentiating between actual fraud and bad credit decisions continues to be a struggle for many lenders. Regulatory compliance adds another layer of complexity.

Risk 52

Risk Fraud Prevention Risk Management Deepfake 52

Nanonets

FEBRUARY 12, 2024

Enhanced Fraud Detection AI emerges as a formidable ally in the perpetual cat-and-mouse game with fraudsters. Machine learning algorithms can detect subtle anomalies and irregularities in data patterns, signaling potential fraudulent activities. Regulatory compliance challenges also loom large.

AI 52

AI Fraud Detection Regulatory Compliance Automation 52

EBizCharge

JULY 16, 2024

As transaction volumes or the complexity of the ACH services increase, institutions or service providers must enhance their fraud detection and prevention mechanisms. Each SEC code has its defined usage, ensuring the correct handling of electronic transactions and aiding in fraud detection.

NACHA 52

NACHA Nacha Rules ACH Network ACH 52

FICO

APRIL 10, 2019

The Chartis Vendor Analysis report highlights the impact of FICO’s AI developments in two areas related to fraud detection and regulatory compliance – real-time payments and anti-money laundering (AML): “Real-time payments are rapidly gaining traction in the US, spurred partly by dramatic growth in the use of P2P services and mobile payments.

AI 51

AI Real Time Payments Account Takeovers AML 51

Finovate

DECEMBER 11, 2024

Regtech The ongoing fallout from the Synapse failure has created a renewed focus on regulatory compliance. Banks are rethinking their regtech strategies, while new regtechs are leveraging tools such as large language models and GenAI to meet demand for automated compliance tools and fraud detection solutions.

FinTech 59

FinTech Stablecoins BNPL Cross-Border 59