Fintech News

MARCH 20, 2024

Research by Sumsub shows that one in every 100 users of digital platforms globally became a victim of fraud ring activities in 2023. The incidence of network fraud in APAC is notably higher than in other regions, with Asia reporting an average of 2.6% said Vyacheslav Zholudev, CTO and co-founder of Sumsub.

APACS 107

APACS Fraud Prevention Deepfake Account Takeovers 107

PYMNTS

DECEMBER 14, 2020

AI can make it easier for financial institutions (FIs) to predict how likely their customers are to make timely payments and improve overall risk assessment capabilities. However, many FIs lack internal proficiency to use AI-assisted credit risk assessment for maximum effectiveness. Turns out AI now does this, too.

AI 87

AI Risk Assessment Online and Mobile Banking Credit Risk 87

Fintech Finance

AUGUST 2, 2024

Having been in operation for just over a year, ComplyTek has been recognized by Chartis Research as the top 50 best AI solution in the global RegTech space. Behavioral Analytics : Advanced analytics to analyze customer behavior, identify compliance risks, and provide insights into non-KYC activities using predictive modeling techniques.

Instant Payments 94

Instant Payments Transactions Payment APIs and Integration Compliance 94

PYMNTS

APRIL 24, 2020

PYMNTS’ latest research reveals that this is changing, however: The share of financial institutions (FIs) using AI has increased dramatically since 2018. As important, banks are increasingly focused on two main areas where they want to put AI to work: credit risk and payment services. The study is based on a survey of 150 U.S.

Credit Risk 100

Credit Risk Risk Underwriting AI 100

CB Insights

MAY 18, 2021

Bouncer : California-based Bouncer is a card-scanning and risk detection technology platform that identifies fraudulent transactions by running automated card authentications. The post Stripe Acquires Bouncer To Integrate Card Authentication Into Its Fraud Detection Platform appeared first on CB Insights Research.

Fraud Detection 74

Fraud Detection Authentication Acquirers Risk Assessment 74

PYMNTS

NOVEMBER 18, 2020

K Health is also funded in part by Maccabi, the second largest HMO in Israel, and its tech incubation arm, Morris Kahn Institute for Research and Innovation. . The startup’s collaboration with Mayo Clinic adds to its existing partnerships with Anthem health insurance and the Israeli health maintenance organization (HMO) Maccabi.

Risk Assessment 93

Risk Assessment NOV Assessments Returns 93

Fintech News

JUNE 3, 2024

In the insurance industry, AI is also poised to enhance risk assessment, offer customized coverage, improve incident monitoring, and streamline operations, it says. Cybersecurity Ventures, a researcher and publisher covering the global cyber economy, predicts that this cost will grow by 15% per year in the near term, reaching US$10.5

Ransomware 107

Ransomware APACS Cybersecurity AI 107

PYMNTS

DECEMBER 9, 2020

Banks that use AI-driven predictive models are able to detect the risk of delinquency as many as 12 months before a customer ever misses a payment, providing banks and their customers the breathing room they need to take action. The practical applications for AI extend far beyond credit risk assessment and detection, however.

Credit Risk 98

Credit Risk AI Risk Fraud Detection 98

PYMNTS

SEPTEMBER 25, 2018

The updates include connectivity with third parties, allowing its Fusion Framework System users to engage with their suppliers and other third parties in supply chains to streamline the vendor risk assessment process. The enhancement means third parties can more easily participate in a holistic risk mitigation strategy, Fusion noted.

Risk Management 73

Risk Management Risk Risk Mitigation Risk Assessment 73

PYMNTS

MARCH 6, 2020

PYMNTS’ latest research seeks to distinguish the real from the hype when it comes to genuine AI adoption in the financial sector. Even more significantly, our research shows that FIs are using AI with greater focus than they have in the past, with two areas emerging as key applications: payments fraud and credit risk.

AI 81

AI Credit Risk Regulatory Compliance Risk Assessment 81

The Fintech Times

AUGUST 17, 2024

As technology continues to advance, these platforms are becoming indispensable for investors seeking to streamline their research, make informed decisions, and execute purchases with greater efficiency. Digital platforms allow investors to complete the entire buying process online, from initial research to closing the deal.

Consulting 75

Consulting Research AI Blockchain 75

FICO

APRIL 6, 2018

How are advances in artificial intelligence and machine learning changing credit risk assessment? On Tuesday, April 17, 1:30-2:30, my colleague Ethan Dornhelm and I will show that machine learning offers tremendous efficiencies for research “in the lab”.

Credit Risk 89

Credit Risk Risk Assessment AI Risk 89

PYMNTS

MARCH 12, 2018

An estimated 86 percent of companies around the world experienced at least one cyberattack last year, according to Kroll research, as cited by Insurance Business last week. Still, researchers found that cybercrime is the “most disruptive” to a small business.

Small Business 54

Small Business Cybersecurity Risk Assessment Data Breach 54

PYMNTS

MARCH 13, 2017

Emailage, the email risk assessment company, has found that during 2016 $1 billion in fraud was stopped by using technology and a syndicated network of global merchants. Research by Aite predicts that by 2020 card-not-present (CNP) fraud will reach $7.2 billion in the U.S. CNP fraud is on the rise in the U.S.

Risk Assessment 40

Risk Assessment EMV Assessments Risk 40

FICO

JULY 31, 2019

As TPRM or third-party risk management grows in importance, so does cybersecurity risk assessment as part of it. The latest Assessment of Business Cyber Risk (ABC) report from the US Chamber of Commerce and FICO discusses four steps for improving third-party cybersecurity risk management.

Risk 70

Risk Security Risk Assessment Risk Management 70

PYMNTS

MARCH 22, 2019

They also ensure that all contract data is stored on blockchain, thus reducing risk of fraud,” he said. It is in the context of risk assessment that artificial intelligence (AI) can play a role in invoice financing, said the executive. Risk can be predicted accurately, if all this data is incorporated in an algorithm.

Blockchain 65

Blockchain Finance Risk Assessment Due Diligence 65

Stax

DECEMBER 4, 2023

An effective AML compliance program must include Know Your Customer (KYC) protocols, transaction monitoring and reporting, risk assessment and categorization, and training and awareness for staff. Risk assessment and categorization The first step towards mitigating risk is to assess it.

Money Laundering 88

Money Laundering Compliance AML Due Diligence 88

Fintech News

MAY 20, 2024

Similarly, research by GoodFirms found a notable uptick, with 46.5% Register Here AI in Finance: Risk Management Challenges and Opportunities May 28 2024, 18:00 CEST The financial landscape is undergoing rapid transformation, with AI playing a central role. of businesses reporting an increase in webinar hosting, and 28.3%

FinTech 135

FinTech Embedded Finance BNPL On-Demand 135

The Fintech Times

SEPTEMBER 14, 2024

With AI, tasks including regulatory reporting and disclosure, data analysis, and risk assessments can be automated, saving time whilst also reducing errors and improving the customer experience, particularly at the onboarding stage.

Compliance 106

Compliance AI Process Suspicious Activity Report (SAR) 106

Fintech News

MAY 16, 2024

FWD Singapore In Singapore, the insurtech sector is leveraging artificial intelligence (AI)-driven risk assessment to transform the insurance industry. Singlife’s research indicates that a staggering 53% of gig workers lack any form of insurance to protect against accidents and potential income loss.

Online and Mobile Banking 116

Online and Mobile Banking Innovation Blockchain Product 116

FICO

JANUARY 10, 2017

The minimum criteria needed to produce the FICO Score aren’t arbitrary — they are the result of decades of research into risk assessment. In a previous post , I pointed out that our research showed around 7.4 The “innovation” VantageScore claims can score more people is simply the weakening of credit score criteria.

Research 81

Research Consumer Risk Assessment Risk 81

PYMNTS

JUNE 27, 2019

More than any other model we’ve seen, Omniscore truly behaves as a human would in the risk assessment of a payment transaction, which is the very definition of artificial intelligence.”. The next generation of AI in fraud prevention is much more than machine learning — supervised or unsupervised.

AI 57

AI Fraud Prevention Risk Assessment Assessments 57

The Fintech Times

NOVEMBER 27, 2024

As of August 2024, around 12 per cent of UK adults own some sort of crypto asset – equivalent to around seven million people – while around 93 per cent have at least heard of them, according to new FCA research revealed on Tuesday. In fact, the FCA noted a rise in the average value of crypto held by people from £1,595 to £1,842.

Regulations 112

Regulations Stablecoins Risk Consulting 112

Fintech Review

SEPTEMBER 5, 2024

Today, the company announced major enhancements to its platform that bridge the gap between Web2 and Web3, enabling real-time risk assessment and the proactive blocking of scams like pig butchering, ransomware, sextortion, and others. AI is pioneering a new era in fraud prevention. In 2023, investment scams alone led to more than $4.5

Scams 52

Scams Blocks AI Fraud Prevention 52

PYMNTS

NOVEMBER 26, 2018

A new report suggested a surprising correlation between executives’ accounting expertise and the risk of those misstatements, and researchers said the findings could be key to auditors , financial regulators and corporate directors. ” Below, PYMNTS breaks down some of the key data points from the research. .

Compromise 51

Compromise Accounts Audit Risk 51

PYMNTS

FEBRUARY 10, 2020

motoring association AA ) to improve its drivers’ skills, with each driver completing a risk assessment and eLearning modules to receive a DriveTech Permit to Drive. SoftBank-backed Ola tapped DriveTech (part of the U.K. In addition, every Ola driver in London also passed the Versant spoken English test from Pearson.

Risk Assessment 56

Risk Assessment Best Practices Assessments Risk 56

FICO

JUNE 2, 2023

At FICO, we have been on the frontlines of this challenge for decades, working tirelessly to identify sources of safe and reliable alternative data to enhance the risk prediction of our scores, including our industry-leading FICO® Scores, such as the UltraFICO™ Score.

Credit Risk 52

Credit Risk Financial Inclusion Risk Assessment Assessments 52

PYMNTS

NOVEMBER 16, 2018

The FI will use PayNet’s Credit History Report and MasterScore v2 as part of its efforts to fully digitize the SMB lending process, with the PayNet solutions enabling the bank to automate risk assessment and loan approvals for borrowers. In another statement, BNB Bank EVP and Chief Lending Officer Kevin L.

Community Banks 53

Community Banks Small Business Risk Assessment Underwriting 53

FICO

SEPTEMBER 15, 2022

We have been on a journey in Saudi since 2011, to grow lending and increase financial inclusion through the adoption of advanced risk assessment tools,” said Swaied Alzahrani, CEO of SIMAH. Prior to the implementation, lenders in the region had been relying heavily on salary data to assess a consumer’s propensity to repay a loan.

Financial Inclusion 52

Financial Inclusion Risk Assessment Assessments Risk 52

The Fintech Times

MARCH 12, 2024

As evidence mounts showing that EVs can be safer than traditional vehicles, insurers must adjust their risk assessments and pricing models accordingly.” “The insurance industry can play a pivotal role in advancing sustainable initiatives and addressing climate-related risks through several strategies. .

Mitigation 72

Mitigation Risk Underwriting Risk Assessment 72

Nanonets

DECEMBER 13, 2023

Risk Assessment and Compliance Prediction: AI can assist in proactively identifying potential compliance risks by analyzing historical data and patterns. It proactively identifies potential threats through automated risk assessments, allowing for preventive measures. How can Nanonets Help?

AI 102

AI Process Fraud Detection Compliance 102

FICO

MARCH 9, 2020

Banreservas changed the way it does business,” said Mike Gualtieri, VP & Principal Analyst at Forrester Research, one of the FICO Decisions Awards judges. “I I gave Banreservas high marks for significantly improving its risk assessment of consumers whilst issuing loans faster.”.

Automation 52

Automation Origination Risk Assessment Assessments 52

FICO

DECEMBER 2, 2019

FICO delivers an objective and empirical standard to help organizations in this assessment process, while AWS Marketplace makes this capability more easily accessible to all organizations.”. A new report from Chartis Research named FICO as a category leader in cyber risk quantification. by FICO.

Risk 52

Risk Data Breach Breach Assessments 52

Fintech News

OCTOBER 16, 2024

The “ A data-powered economic view: Insurance and pensions ” session, on 8 November at 14:05-14:35 in Hall 3 of Singapore EXPO on the Technology Stage, will explore how data-driven technologies are transforming the insurance and pension industries by enhancing risk assessment, cost management and investment strategies.

FinTech 111

FinTech Cross-Border Payments AI Innovation 111

Fintech News

APRIL 17, 2024

AutoWealth’s personalised risk assessment ensures that investors are matched with portfolios that align with their risk tolerance and investment goals. The platform offers globally diversified portfolios invested in low-cost Exchange Traded Funds (ETFs), providing investors with exposure to a broad range of asset classes.

Advisors 124

Advisors Online and Mobile Banking Risk Returns 124

PYMNTS

MARCH 10, 2017

Citing research that finds the majority of cyberattacks hit SMEs, Mooney added that there should be legislation that requires all businesses, not just large ones, to meet cybersecurity standards. . “Under Gramm-Leach-Bliley, we are really given the duty that everybody has to be playing at the same level,” he said. “As

Credit Union 43

Credit Union Cybersecurity GLBA Small Business 43

Nanonets

SEPTEMBER 22, 2023

The  vendor selection process  consists of establishing business goals, locating and selecting the right vendor, conducting an initial risk assessment, negotiating  contracts ,  supplier onboarding , and  risk mitigation  and management. Key Stages of the Vendor Selection Process 1.

Risk Mitigation 40

Risk Mitigation Mitigation Risk Assessment Assessments 40