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Fraud Detection Risk Risk Management 
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.
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.
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Stax
JANUARY 8, 2024
However, several complex types of risks come along with this. Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer due diligence, and adherence to card regulations. could also be classified as operational 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.
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?
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.
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.
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. This sum includes a $4.5
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.
Seon
SEPTEMBER 20, 2024
SEON recently brought together industry leaders from the online lending space to discuss the evolving landscape of fraud prevention and risk management. The Changing Face of Fraud In what many describe as an “unpredictable era,” lenders are collectively challenged to stay ahead of increasingly sophisticated fraudsters.
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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.
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.
Fi911
DECEMBER 19, 2023
The rapid evolution of technology and the escalating demand for online banking services have made machine learning (ML) an invaluable asset in preemptively tackling fraud risks. The Escalating Threat of Financial Fraud Financial crimes are on an upward trajectory. It also proactively predicts and prevents potential fraud risks.
Fintech Finance
OCTOBER 17, 2024
This collaboration is the latest step in SoFi’s partnership with Galileo, which currently powers an array of Banking, Payments, Lending, and Risk products for SoFi Bank’s consumer business, including: Cyberbank Konecta : An AI-driven customer experience platform with digital assistants for 24/7 support.
The Fintech Times
JULY 19, 2024
With the advent of generative AI, financial institutions have embarked on initiatives to map the technology’s opportunities and risks, and have begun piloting it across a range of use cases. These centres will focus on AI model building, training, deployment, governance, risk management, and monitoring.
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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.
Finovate
APRIL 1, 2024
The product of a presidential order and led by the Treasury’s Office of Cybersecurity and Critical Infrastructure Protection (OCCIP), the report highlights in particular the growing gap between the ability of larger and smaller institutions to leverage advanced AI technology to defend themselves against emerging AI-based fraud threats.
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The Fintech Times
APRIL 15, 2024
“By analysing big data and rapidly assessing risks, AI empowers financial companies to make well-informed decisions. 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.
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PYMNTS
NOVEMBER 9, 2017
According to Kyriba and researchers at CFO Research , who surveyed 167 financial executives at companies with up to $5 billion in annual revenue, there is a clear winner in terms of what the board of directors is most concerned about in terms of CFO responsibilities: fraud. ” Their concerns aren’t baseless, either.
Fintech Finance
MARCH 22, 2024
Cashfree Payments , India’s leading payments and API banking company, announced the launch of ‘RiskShield’, India’s first real-time risk management solution for payment gateways. It aims at reducing payment frauds upto 40%. We built ‘RiskShield’ to empower merchants to fortify their defense against Payment Frauds.
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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.
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Fintech News
MARCH 27, 2024
Visa announced the expansion of its value-added services by introducing three new AI-powered solutions aimed at bolstering fraud and risk prevention. The Protect suite is among nearly 200 products under Visa’s portfolio, covering critical areas such as Acceptance, Advisory, Issuing, Open Banking, and Risk and Identity.
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PYMNTS
DECEMBER 9, 2020
Managing credit risk used to be a reactive process. Bank customers would fall behind on their payments, and their banks might react by imposing fees or having a case manager work with them to bring their accounts back up to speed. The practical applications for AI extend far beyond credit risk assessment and detection, however.
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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.
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The Fintech Times
MARCH 27, 2024
Visa has introduced three new AI-powered risk and fraud prevention solutions to enhance security in digital payments. The new products, integrated into the end-to-end Visa Protect suite, aim to diminish fraud across immediate account-to-account and card not present (CNP) payments, as well as transactions both on and off Visa’s network.
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.
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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.
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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.
98 
Clearly Payments
JANUARY 8, 2024
In the rapidly advancing world of payments and eCommerce, merchants find themselves navigating a landscape of risk in payment processing. 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.
Nanonets
DECEMBER 13, 2023
In addition, AI can help insurance firms evaluate risk with high accuracy by analyzing large volumes of data. 1: Increased Accuracy and Reduced Errors AI in insurance claims processing plays a pivotal role in enhancing accuracy and reducing errors by automating various tasks and mitigating the risks associated with manual processes.
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Fi911
JUNE 4, 2024
The main responsibility of a chargeback analyst includes interpreting chargeback data to assist with the resolution of client disputes and eliminating the factors that might trigger chargeback risks. Chargeback analysts are responsible for monitoring and analyzing chargeback trends to identify any potential risks or fraudulent activities.
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Fintech Finance
SEPTEMBER 27, 2024
Risk management and fraud detection: PayPal Complete Payments can help merchants take control of risk analysis fraud protection with advanced tools powered by machine learning, AI, and big data, which also reduces time spent managing disputes.
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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. Faisal I. ,
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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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.
Fraud.net
DECEMBER 4, 2023
Learn how to utilize Fraud.net’s fraud prevention maturity model to optimize your risk management strategy and leverage machine learning.
Nanonets
AUGUST 16, 2024
Artificial Intelligence (AI) AI is particularly brilliant at handling complex tasks like fraud detection, risk assessment, and claims adjudication. Advanced AI systems can cross-check claim details against policy data, third-party databases, and historical claim records to detect anomalies and assess the validity of claims.
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The Fintech Times
FEBRUARY 21, 2024
Crossthwaite added: “While we hope the introduction of the Government’s Online Fraud Charter will encourage the technology sector to narrow the opportunities for online fraud, the sad reality is that the fraudsters will be looking to stay one step ahead by exploiting new options like AI.
The Fintech Times
SEPTEMBER 26, 2024
Industry movers Creditinfo, a global service provider for credit information and risk management solutions, appoints Charles De Winnaar as its global head of sales strategy and sales operations. Specialising in foreign exchange, Monex Canada helps businesses manage currency risk.
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Seon
JULY 10, 2024
This monitoring occurs before a transaction is approved or processed and aims to facilitate legitimate transactions while identifying potential regulatory risks. While both types of monitoring aim to protect businesses and their customers, fraud transaction monitoring focuses more on identifying and preventing criminal activities.
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Segpay
OCTOBER 4, 2023
Minimal Risk: Merchants often have a low financial risk since they only pay for actual conversions. Risk Management Fraud detection and prevention measures are crucial in this type of high-risk business. Why is this type of Business often considered High-Risk?
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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.
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