Visa launches AI-powered fraud prevention tools
Finextra
MARCH 27, 2024
Visa has added a trio of AI-powered risk and fraud prevention tools to its suite of products for businesses.
Fraud Prevention Related Topics 
How artificial intelligence can improve payments fraud prevention
Payments Dive
JULY 31, 2024
Generative AI could help spot fraudulent patterns in transaction data and reduce the cost of processing payments, says a McKinsey consultant.
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Visa Ramps Up AI-Powered Fraud Prevention During Holiday Shopping Globally
Fintech News
DECEMBER 17, 2024
Visa announced that its fraud prevention system blocked nearly 85% more suspected fraudulent transactions globally this Cyber Monday compared to the same day last year. Featured image credit: Edited from Freepik The post Visa Ramps Up AI-Powered Fraud Prevention During Holiday Shopping Globally appeared first on Fintech Singapore.
Digital Footprinting: Adapting Fraud Prevention for the Digital Age
Seon
MARCH 20, 2024
However, this expansion brings a corresponding need to evolve fraud prevention strategies to keep pace with advancing threats. Fraud’s Path to Escalation The digital age has ushered in a seismic shift in fraud, marked by increased costs and volume of fraudulent activities. With over 1.4 billion unbanked adults – and 7.1
Flagright and SALT to Bolster Compliance and Fraud Prevention for SMEs
Fintech News
FEBRUARY 26, 2024
Flagright, an AI-native company specialising in Anti-Money Laundering (AML) compliance and fraud prevention, has announced its partnership with SALT, a financial platform aiming to support Small and Medium Enterprises (SMEs) in India and Asia.
Stripe Unveils AI-Powered Tools for Payments, Pricing, and Fraud Prevention
Fintech News
AUGUST 29, 2024
To further combat fraud, Stripe introduced Radar Assistant, an AI-powered tool that allows businesses to set and test new fraud prevention rules using simple language prompts. The post Stripe Unveils AI-Powered Tools for Payments, Pricing, and Fraud Prevention appeared first on Fintech Singapore.
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Numerated Partners With Alloy To Supercharge Fraud Prevention In Commercial Lending
Fintech Finance
OCTOBER 3, 2024
Additionally, 96% of these institutions suffered financial losses due to fraud, with 70% reporting losses exceeding $500k during that period. This underscores the critical need for advanced fraud prevention in the financial sector, a need that Alloy’s platform will directly address within Numerated’s commercial lending solutions.
Paydock and Forter: Empowering merchants and financial institutions with seamless payments and fraud prevention
The Payments Association
NOVEMBER 21, 2024
The latest addition to this network is Forter, a global leader in AI-powered fraud prevention, who joins Paydock in transforming fraud detection and prevention for online businesses. By automating fraud detection, businesses can eliminate manual reviews, accelerating fulfilment and providing a smooth customer experience.
Insights from “Why Traditional Fraud Prevention Measures Aren’t Enough”
Seon
AUGUST 27, 2024
With fraud losses estimated to cost global businesses billions annually, the need for effective fraud prevention strategies has never been more critical. The webinar discussed the limitations of traditional fraud prevention methods and the necessity of adopting a more proactive, technology-driven approach.
Interview: Redefining fraud prevention – insights from a former insider
The Payments Association
JUNE 7, 2024
Tony Sales, a former fraudster turned fraud prevention specialist and co-founder of WeFightFraud, shares his perspective on effective strategies and technologies businesses can use to protect against evolving threats. Read more
Justt and Ravelin Partner to Strengthen AI-Powered Fraud Prevention and Chargeback Management Across Key Sectors
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. According to the Ravelin Fraud and Payments Survey 2024 , 52.4% The solution is now live and available to all merchants on Ravelin’s platform.
Leveraging ISO 20022 for enhanced cross-border payments and fraud prevention
The Payments Association
JUNE 7, 2024
Adopting ISO 20022 is essential for modernising cross-border payments, enhancing fraud prevention, and ensuring seamless interoperability and efficiency in international financial transactions. Read more
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Scalapay Partners with Trustfull to Strengthen BNPL Fraud Prevention Across Europe
Fintech Finance
DECEMBER 10, 2024
Trustfull , a leader in Identity Intelligence for fraud prevention, is proud to announce a strategic partnership with Scalapay , a premier European buy-now-pay-later (BNPL) provider. This empowers fraud teams to detect synthetic identities and prevent fraud while maintaining a seamless user experience.
Combatting APP fraud: How to build a best-in-class fraud prevention solution
The Payments Association
SEPTEMBER 26, 2024
With traditional systems unable to deal with the agile nature of fraud in today's payments space, new approaches such as 'Collaborative Intelligence' and 'Inbound transaction screening' will be seen as key to further improve fraud prevention for financial institutions.
Mastercard Takes On Scammers with AI-Driven Fraud Prevention Tools
The Fintech Times
APRIL 24, 2024
The post Mastercard Takes On Scammers with AI-Driven Fraud Prevention Tools appeared first on The Fintech Times. “Mastercard’s industry expertise and innovative technology will support our global network’s commitment to stopping scams and protecting consumers.
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Eastnets and iPiD Join Forces to Improve Global Payment Accuracy, Fraud Prevention
Fintech News
JUNE 10, 2024
Our combined expertise will provide financial institutions with the tools needed for smooth instant payment processing, reducing errors and fraud, and ensuring compliance with regulatory mandates across the world.” said Alain Raes, Co-founder and CCO of iPiD.
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Visa Set to Roll out New AI-Powered Fraud Prevention Solutions
Fintech News
MARCH 27, 2024
Leveraging its extensive experience and a US$10 billion investment in technology and innovation over the past five years, Visa aims to enhance fraud prevention and network security. Featured image credit: Edited from Freepik The post Visa Set to Roll out New AI-Powered Fraud Prevention Solutions appeared first on Fintech Singapore.
6 payments trends to watch in 2024
Payments Dive
JANUARY 9, 2024
Swipe fee battles, real-time payments, fraud prevention and acquisition plans will be among the hot topics pulsing through the industry this year.
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What is Geolocation-Based Fraud Prevention?
Fi911
DECEMBER 18, 2024
But, did you know it can also be used to help stop card-not-present fraud? Geolocation & Fraud Prevention Geolocation helps prevent fraud by verifying the location of a user or device during transactions, especially in card-not-present scenarios. Can Geolocation Technology Be Spoofed?
Consumers and Businesses Aligned as Both Prioritise Instant Payments and Fraud Prevention, Says DGN
The Fintech Times
OCTOBER 28, 2024
Instant payments and fraud prevention have quickly become the areas fintechs need to focus on most, according to the third portion of the ‘2024 Payment State of the Union’ study by Discover Global Network , the global payment network.
Amex to sell fraud prevention firm Accertify
Payments Dive
JANUARY 16, 2024
The card issuer is selling the business, which offers online fraud monitoring services to merchants, to the joint venture investment firm Accel-KKR.
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AI Fraud Prevention Methods Are Needed for Modern Businesses
Fraud.net
DECEMBER 9, 2024
Discover why traditional fraud prevention strategies are inadequate, and how AI fraud prevention is a proactive approach to modern threats."
PAYSTRAX Has Selected Featurespace to Tackle Fraud Across Europe, Demonstrating the Strength of Its Fraud Prevention Technology
Fintech Finance
AUGUST 1, 2024
In partnership we can identify and stop fraud and financial crime and make the world a safer place to transact.” ” The post PAYSTRAX Has Selected Featurespace to Tackle Fraud Across Europe, Demonstrating the Strength of Its Fraud Prevention Technology appeared first on FF News | Fintech Finance.
Future-Proofing Fraud Prevention: Trends and Strategies with AI
Fraud.net
DECEMBER 22, 2024
Explore future trends in fraud prevention and how AI helps businesses stay ahead of emerging threats and evolving tactics.
Location verification can prevent QR code fraud
Payments Dive
NOVEMBER 17, 2020
Mobile Payments Today interviewed André Ferraz, the CEO and co-founder of Incognia, a private identity company that provides fraud prevention by using frictionless identity location verification.
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Not another ISO 20022 piece?
The Payments Association
AUGUST 1, 2024
The move to ISO 20022 brings benefits like enriched data and improved fraud prevention, requiring a strategic approach and decisions between building in-house solutions or partnering with vendors. Read more
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Bectran Partners with GIACT for ACH Fraud Prevention
The Nilson Report
DECEMBER 5, 2024
The post Bectran Partners with GIACT for ACH Fraud Prevention appeared first on Nilson Report.
The Advantages of AI in Fraud Prevention: Building a Stronger Defense
Fraud.net
DECEMBER 17, 2024
Learn how AI in fraud prevention provides real-time detection, reduces false positives, and boosts operational efficiency.
Mollie Expands Into Italy, Simplifying Payment Processing, Reporting and Fraud Prevention
The Fintech Times
NOVEMBER 16, 2024
European financial service provider Mollie is officially launching in Italy, in a move to enable Italian businesses to access a single platform designed to simplify payment processing, reporting and fraud prevention.
Multi-Processor Payment Routing & Fraud Prevention: Strengthen Security
Basis Theory
MAY 16, 2024
Payment security is a key consideration for today’s digital merchants, as acquiring a reputation for not protecting customers’ payment details can be an existential threat.
Is the UK looking at fraud prevention the wrong way round?
The Payments Association
APRIL 25, 2024
The recently conducted UK Fraud Awareness Report has revealed that the British public has much to learn about fraud, from the definitions of certain terms to the benefits of using different forms of identity verification technology during onboarding. Read more
Merchants Set to Invest in AI and Fraud Prevention and Compliance Tops the 2025 Agenda, Says payabl
The Fintech Times
NOVEMBER 16, 2024
. “Merchants are clearly focused on future-proofing their payments strategy to meet the growing demand for convenience and flexibility and address the major challenges around regulatory compliance and fraud prevention,” explained Ugne Buraciene , group CEO of payabl.
Organisations Remain Unprepared to Fight AI-Driven Fraud, Signicat Reveals
The Fintech Times
JUNE 2, 2024
Fraud prevention decision-makers across Europe are well aware of the growth and danger of AI-driven identity and financial fraud, but are unprepared to combat it, Signicat , the European digital identity and fraud prevention solution provider, has revealed in a new report.
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Visa Finalises Featurespace Acquisition to Bolster AI Fraud Detection
Fintech News
DECEMBER 22, 2024
Featurespaces advanced fraud detection and risk-scoring capabilities will be integrated into Visas existing portfolio of fraud prevention solutions. This integration will enable real-time detection of sophisticated fraud attacks while maintaining a seamless user experience.
Navigating the complex landscape of payment fraud
The Payments Association
DECEMBER 11, 2024
Digital payments demand advanced fraud prevention, blending AI and human intelligence to counter evolving threats while ensuring seamless user experiences. Multifaceted approaches to fraud prevention Effective fraud prevention now requires a combination of technological and human intelligence, transcending traditional security models.
How are Financial Firms Like Visa, Swift, Pay.UK and Mangopay Using AI to Combat Financial Fraud?
The Fintech Times
JUNE 1, 2024
Meanwhile, the fraud landscape is rapidly changing. Over a third of fraud attempts (42.5 per cent) targeting financial institutions now use AI, according to a recent study by digital identity and fraud prevention solution Signicat. Overall, around 29 per cent of these AI-driven fraud efforts are successful.
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Surprising findings from our analysis of 3DS transactions in the US
Stripe
AUGUST 4, 2024
Global businesses have told us they’re interested in replicating the fraud-prevention success seen in Europe by requesting 3DS. Last year, we had a front-row seat as several Stripe users chose to do exactly that, but the results in the US were very different from what we have seen in Europe.
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The Evolution of Open Finance Through the Lens of CBI
The Fintech Times
DECEMBER 18, 2024
This service facilitates Public Administration and corporates in fulfilling their fraud prevention activities vis--vis their customers (e.g. This service covering 98 per cent of the Italian market share, allows providers to operate more efficiently in fraud prevention.
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NextGen Nordics 2024: Can behavioural biometrics fix fraud?
Finextra
APRIL 25, 2024
Moderating her second panel of the day - Fraud prevention and AML: the need for behavioural biometrics in this instant age - Finextra’s senior reporter Niamh Curran spoke to Megan Heald, senior project manager at NICE Actimize, John Sam-Kubam, senior vice president at Crown Agents Bank, Beju Shah, head of Nordic centre at the Bank of International (..)
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Predicting growth for clearing houses and scheme operators in 2024
Finextra
FEBRUARY 13, 2024
Additionally, we explain the key methods for ensuring seamless transactions across borders, leveraging ISO 20022 data and AI for fraud prevention, resilience, and scalability across all 13 markets. We explore the significance of interoperability and the prioritisation of standardisation to enhance cross-border transactions.
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Netguardians Selected by PalawanPay to Deliver Best-in-Class Fraud Protection for Customers in the Philippines
Fintech Finance
OCTOBER 21, 2024
Award-winning Swiss FinTech, NetGuardians , known for its enterprise risk platform focused on combating bank fraud, has been chosen by PalawanPay , the e-wallet app from the Palawan Group of Companies, to bolster its fraud prevention measures.
Sumsub’s New Solution Helps APAC Firms Navigate Data Privacy Regulations
Fintech News
SEPTEMBER 2, 2024
These include AML (anti-money laundering) screening, KYC (Know-Your-Customer) and KYB (Know-Your-Business) processes, as well as ongoing transaction monitoring and fraud prevention. LDP also facilitates compliance across new markets, supporting businesses as they expand globally.
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Dialect announces new strategic partnership with Synalogik
The Payments Association
DECEMBER 19, 2024
Dialect, the payments specialist business outsource provider and Synalogik , the data aggregation and fraud prevention platform, are pleased to announce their new strategic partnership. Together, we’re setting a new standard for excellence and innovation in the fight against fraud.
Worldpay exec talks digital wallet security
Payments Dive
DECEMBER 3, 2024
The head of fraud prevention for the processor said the company leverages data to block hackers and fraudsters seeking digital wallet information.
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