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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.
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.
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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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.
Fraud.net
OCTOBER 1, 2024
Discover how businesses of any scale can combat escalating fraud threats by adopting comprehensive enterprise fraud risk management.
Finextra
OCTOBER 10, 2024
Fraudulent activities within the financial services sector have escalated into a significant concern.
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.
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.
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.
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 Fintech Times
SEPTEMBER 19, 2024
However, risk orchestration is a process promising to help fintechs and financial institutions combine their customer onboarding, authentication and risk management processes into one place. “This is done through the integration of risk management, adaptive risk mitigation, process automation, and real-time analysis. .
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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.
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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The Fintech Times
OCTOBER 26, 2024
AI is boosting risk management and personalisation During Huawei’s Finance Forum at GITEX, Dr. Jassim Haji , an international expert, strategist and researcher in AI and digital transformation, delved into how AI is enabling real-time risk assessment and fraud detection, reducing the manual processes that typically slow banks down.
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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.
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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
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.
Clearly Payments
NOVEMBER 13, 2024
For payment processors and financial institutions, however, understanding BINs is essential for smooth transaction processing, security, and even risk management. Security and Fraud Detection : The BIN can provide valuable data points that help prevent fraud. What is a Bank Identification Number (BIN)?
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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.
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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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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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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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The Fintech Times
AUGUST 29, 2024
Cashfree Payments , the Indian paytech and API banking solutions provider, has launched Secure ID, its end-to-end solution for identity verification, risk assessment and fraud prevention. Additionally, SecureID provides data-driven risk scoring for informed decision-making and monitoring for potential risks in the user’s journey.
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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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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.
EBizCharge
JULY 16, 2024
This article will explore the essential aspects of staying compliant with NACHA rules, such as risk management, data security, authorization protocols, and more, to help institutions maintain the highest standards of operational integrity and customer trust. What is NACHA?
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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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The Fintech Times
OCTOBER 23, 2024
Merchants benefit from support for over 30 different payment methods and risk management solutions such as fraud detection and prevention, while customers enjoy advanced, secure protection from cybercrime.
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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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Fintech News
NOVEMBER 12, 2024
Generative AI (genAI), in particular, is poised to reshape the financial ecosystem significantly through enhanced customer experience, personalized financial advice and services, improved fraud detection and risk management, as well as automated financial planning, the report says.
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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.
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Fintech Review
NOVEMBER 12, 2024
These technologies can help banks automate processes, such as customer onboarding, loan approval, and fraud detection. Banks are traditionally risk-averse, focusing on stability, compliance, and long-term growth. Regulatory Compliance and Risk Management Compliance is a major concern for both banks and fintechs.
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Fintech Finance
MARCH 27, 2024
Today, Visa (NYSE:V), a leader in digital payments, announced continued expansion of its global value-added services business with the addition of three new AI-powered risk and fraud prevention solutions. Each product will be available to clients starting in the first half of 2024, with varied launch dates by product and market.
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