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Fintech News
SEPTEMBER 29, 2024
Payment giant Visa is set to acquire Featurespace, a company specialising in artificial intelligence (AI) technology for real-time payments fraud protection. The acquisition aims to bolster Visa’s fraud detection and risk management capabilities, which are used globally by financial institutions and businesses to safeguard transactions.
106 
Stax
AUGUST 22, 2024
In this article, we’ll discuss what SaaS companies looking to become payment facilitators need to know about risk management strategies. PayFacs handle risk assessment, underwriting, settling of funds, compliance, and chargebacks which exposes them to greater potential risks.
Stax
JANUARY 8, 2024
As such, PayFacs need to equip themselves with an effective risk management strategy that helps them continuously monitor risks and employ appropriate risk responses if needed. TL;DR Four main types of risks come with payment facilitation: compliance risks, operational risks, transactional risks, and reputational risks.
Finextra
OCTOBER 10, 2024
Fraudulent activities within the financial services sector have escalated into a significant concern.
Fraud.net
NOVEMBER 15, 2023
Fraud.net's end-to-end risk management platform secures a Gold Future Digital award for Fraud Detection and Prevention Platform.
The Paypers
JUNE 14, 2024
US-based Oscilar , a provider of AI-driven risk management solutions, has released AI-powered ACH fraud detection amid a rapid growth in ACH transactions.
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.
Clearly Payments
JANUARY 8, 2024
While these technologies bring unparalleled convenience and global reach, they also introduce a plethora of risks that can impact the financial stability and reputation of businesses. Identifying and Assessing Risks Understanding the lay of the land is the first step in effective risk management.
Finovate
DECEMBER 4, 2023
Treasury Prime, an embedded banking software platform, has signed a strategic partnership with fraud and risk management platform Effectiv. Embedded banking software platform Treasury Prime has forged a strategic partnership with fraud and risk management platform Effectiv. Acquired by PayPal in 2018.
Fraud.net
OCTOBER 1, 2024
Discover how businesses of any scale can combat escalating fraud threats by adopting comprehensive enterprise fraud risk management.
The Fintech Times
JULY 19, 2024
These centres will focus on AI model building, training, deployment, governance, risk management, and monitoring. Develop AI platforms for industry-wide use cases : Encourage collaboration on industry-wide issues, such as scam and fraud detection, by developing secure frameworks and platforms for data exchange.
129 
FICO
APRIL 4, 2018
He caps a program with more than 70 sessions on AI, analytics, machine learning, cybersecurity, fraud detection and risk management. FICO is proud to have Garry Kasparov as our closing keynote speaker at FICO World 2018 , April 16-19 in Miami Beach.
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The Fintech Times
APRIL 15, 2024
This approach not only fine-tunes the assessment of credit risks but also customises financial products to meet individual requirements, balancing personalisation with risk management. “Finally, AI is reducing risk in the embedded insurance space.
134 
The Paypers
JANUARY 26, 2024
The Federal Reserve Financial Services has launched a new ACH risk management service to help financial institutions in their fraud detection efforts.
Seon
APRIL 23, 2024
In an era where digital transitions are omnipresent, the menace of online fraud and money laundering is continuously escalating, necessitating advanced solutions that enable organizations to stay ahead and mitigate activities across diverse industries. How Does Fraud Risk Management Work?
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.
The Paypers
OCTOBER 18, 2022
Global Processing Services (GPS), a global payments technology platform and provider of adaptive behavioural analytics for fraud detection and risk management company, Featurespace , have partnered to create a market issuer processing fraud mitigation solution.
Fintech News
JULY 18, 2024
MAS will support financial institutions in establishing AI innovation centres in Singapore for a range of functions including AI model building and training, deployment of AI models for high-impact use cases, governance and risk management, as well as testing and monitoring.
115 
PYMNTS
DECEMBER 10, 2019
And the tactic du jour as the sun is setting on 2019, Barnhardt said, is synthetic identity fraud, a form of attack that is a known commodity in the risk management world, but not necessarily a well-understood one, as evidenced by the fact that it has been so over the last several years.
Fintech News
MARCH 27, 2024
In response to the escalating challenge of digital fraud, Visa has introduced Visa Deep Authorization (VDA), a solution utilising deep learning technology and vast data analysis to improve CNP payment security without hindering the user experience.
106 
Fintech Finance
JULY 17, 2024
The growth of the team is driven by IT roles, including back-end developers, tech team leads, product managers, and risk management professionals in identity verification, fraud detection and investigations.
94 
Payments Source
MARCH 31, 2017
The technology's usefulness for fraud detection is clear, but there are other areas where AI can have an impact. Artificial intelligence is steadily making its way through the payments and financial services world.
84 
Finovate
MARCH 13, 2024
This will impact how banks and fintechs use AI for customer interactions, underwriting, and fraud detection. Compliance and oversight The ruling specifically calls out banking as an “essential private and public service” and categorizes it as a high-risk use of AI.
111 
The Paypers
JULY 19, 2023
US-based RiskOps platform for financial risk management Feedzai has introduced the Railgun fraud detection engine to tackle financial crime.
PYMNTS
NOVEMBER 9, 2017
More than a third (36 percent) of survey respondents said fraud monitoring and risk mitigation are the areas in which CFOs are most falling short. That’s followed closely by performance risk management and strategic/operational risk management, each cited by 32 percent of survey respondents as areas in which CFOs fail to deliver.
Fi911
JULY 8, 2024
Furthermore, the growing sophistication of fraud techniques, including synthetic identity fraud and account takeovers, exacerbates the challenge. This makes it imperative for businesses to stay ahead with robust fraud detection and prevention strategies.
Fintech News
DECEMBER 12, 2023
They are focusing on digital transformation, developing customised credit solutions, and improving risk management. However, the rise in instant payment technologies also increases the risk of financial fraud, necessitating advanced security measures like machine learning and artificial intelligence for efficient fraud detection.
109 
Fintech News
DECEMBER 12, 2023
They are focusing on digital transformation, developing customised credit solutions, and improving risk management. However, the rise in instant payment technologies also increases the risk of financial fraud, necessitating advanced security measures like machine learning and artificial intelligence for efficient fraud detection.
98 
Fintech Finance
OCTOBER 17, 2024
Risk Management : Advanced fraud detection using machine learning, reducing fraud by 35% on average for Galileo clients. Payments and Card Issuing : A secure platform for digital payments,,virtual cards, and accounts, with easy API integration.
Fintech Finance
OCTOBER 23, 2024
Merchants benefit from support for 30+ different payment methods and risk management solutions such as fraud detection and prevention, while customers enjoy advanced, secure protection from cybercrime.
97 
Nanonets
MAY 31, 2023
The need for AI in finance In traditional finance functions, companies often rely on manual processes, extensive paperwork, and repetitive tasks to manage their financial operations. These tasks include data entry, invoice processing, and financial analysis for decision-making, operational planning, and risk management.
122 
Fraud.net
NOVEMBER 20, 2023
Transaction monitoring has evolved from a rules-based approach to an effective way to mitigate the risks of money-laundering and fraud.
PYMNTS
MAY 5, 2020
The good news, Pangretic added, is that consumers and businesses are getting better at detecting fraudsters trying to ply their trade across mobile and online transactions. This can really create a proactive communications strategy to significantly decrease the incidence of successful fraud attempts,” said Pangretic.
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.
133 
Fi911
MARCH 14, 2024
It can also help manage risk more effectively, and tailor fraud detection systems to the unique needs of each sales channel. This documentation helps banks assess the risk profile of the business and determine the appropriate transaction processing solutions. When Should a Bank Consider Terminating a MID?
102 
PYMNTS
OCTOBER 1, 2020
Kount , the Boise, Idaho-based Software as a Service (SaaS) platform designed to simplify fraud detection and improve profitability, announced it has partnered with Verifi , the payment protection and management company.
73 
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. Lastly, AI's predictive capabilities extend to risk management.
102 
PYMNTS
DECEMBER 9, 2020
Taking this retroactive approach to credit risk management was never efficient, but it has become even less feasible amid the pandemic. Consumers are more susceptible than ever to falling short on their monthly bills, leaving banks searching for more proactive ways to mitigate the risk of defaults.
98 
FICO
MARCH 5, 2021
Look no further than the recently published Chartis Financial Crime Risk Management Systems: Enterprise Fraud Market Update and Vendor Landscape , 2021, where FICO was named as the top enterprise fraud Category Leader.
Finovate
MARCH 29, 2024
In this conversation, Vainu shared some of the real-world applications of Generative AI in areas such as risk management, fraud detection, and customer service. Code & Capital also talked with Head of Conversational AI at Zurich Insurance Group, Indrek Vainu.
59 
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.
88 
PYMNTS
MARCH 22, 2018
Fraud detection startup Sift Science has raised $53 million in a series D round, bringing its total amount raised to $107 million. Founded in 2011, Sift Science plans to use this latest round of funding to grow its fraud detection and prevention product globally. For example, Palo Alto-based Simility received $17.5
PYMNTS
MAY 10, 2019
In a new PYMNTS interview, David Barnhardt, executive vice president of product at GIACT , which offers fraud detection and account validation tools, talks about an upcoming change by NACHA, national administrator of the ACH network, to make internet-initiated debit transactions (WEB debits) safer and more seamless.
71 
Nanonets
APRIL 1, 2024
The platform enables companies to manage their entire payables process, from invoice capture and approval to payment execution and reconciliation. Fraud detection and risk management features that identify suspicious transactions and supplier behavior, alerting your team to potential risks.
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