Search Results for: fraudulent consumers
How To Leverage Fintech To Combat Money Laundering
Fintech has experimented with its magic wand in various fields, so how can we corner the money laundering aspect? In this blog we shall be covering how fintech is leveraged to combat money laundering or in other words we can say how fintech is used to fight for AML in......
Prove Identity Partners with Visa to Make Customer Onboarding 79% Faster While Enhancing Security
Prove Identity, Inc., a leader in consumer identity, announced a new partnership with Visa, a world leader in digital payments, to empower brands to increase secure loyalty account enrollment by eliminating manual account registration and pre-filling application forms with verified information. Visa clients will now have access to Prove’s award-winning......
Experian Announces New U.S. Fintech Data Network to Combat Fraud
Experian’s Hunter comes to the United States with nine top fintechs committed to participating Amid an uptick in fraud across the fintech industry, Experian introduced a fintech-focused version of Experian’s Hunter, an industry-leading fraud prevention data network, to the United States. This new U.S. fintech data network already has participation commitments......
Chargebacks911 Calls for Regulatory Discretion as Fintech Industry Expands
“The Federal Trade Commission is committed to protecting consumers in the fast-moving realm of . . . FinTech.”(1) Indeed, the FTC has brought actions against companies across the FinTech industry, from mobile payment providers (PayPal) to virtual currencies, in an effort to clamp down on FinTech companies. Chargebacks911 Founder Monica......
Unlocking The Power Of KYC For Smart Banking Service Providers
While your social media feed and industry publications often seem flooded by plenty of trends, it’s time-consuming to comb through each of these resources and identify trends. This blog shall enlighten KYC market, its data and new tech of eKYC and the digital solutions thereby. KYC has been harnessing technology......
AI in Banking: Benefits And Challenges
Introduction The banking industry is no exception to the fact that artificial intelligence (AI) has become a crucial component of the most demanding and fast-paced businesses. It is understandable why AI has so swiftly established itself as one of the technical pillars around which the current financial industry is based.......
37% Of Users in Nigeria Lost Money from an Incident Involving Digital Payments
The majority of users (97%) lost up to USD $1,000 equivalent as a result of these incidents, while 3% of the respondents reported a loss of more than USD $1,000 equivalent According to the Kaspersky Digital Payment survey, 37% of respondents from Nigeria experienced financial losses associated with threats when using......
15 Ways How AI Is Reshaping The Banking And Financial Sector
In the near future, AI will exert the power of data analytics within the financial domain which will make transactions safer by reducing fraud and increasing compliance. In contrast to traditional approaches that take so long, AI algorithms can complete anti-money trafficking jobs quickly. According to a study by Accenture,......
NICE Actimize Launches Real-Time Money Mule Defense Solution to Detect Illicit Activity Throughout the Entire Customer Lifecycle
Using advanced AI, the solution employs a multi-model execution strategy that utilizes a diverse set of models, techniques, and algorithms to identify and prevent fraud Traditional payments monitoring systems often do not detect money mules’ movements as they secure illicit funds from financial institutions. To address this problem, NICE Actimize, a NICE business,......