Fraud and financial crime continue to increase during societal changes. Data has altered due to a dramatic shift in consumer spending patterns. Machine learning models traditionally created on historic data need re-training to learn new consumer behaviors and be effective at identifying fraud and financial crime and optimizing payment flow.
- 28.05.2020 01:18 pm
- Fraud Detection
Liberty Bank, the third largest bank in the Georgia, has reinforced its fraud strategy to address the rising volume of fraud the industry is currently seeing. The bank has teamed up with long-term partner Compass Plus to launch a new fraud detection and prevention system built on their solutions.
Vesta, a fintech pioneer in fraud protection and fully guaranteed payment technologies, has secured $125 million in new growth capital from private equity firm Goldfinch Partners. The funding will provide Vesta with the resources to invest in growth and continue the global deployment of its fraud protection and e-commerce payment solutions.
Cloud based payment processor Paymentology has launched its new Instream Fraud Scoring model which aims to improve the identification and blocking of fraudulent activity at point of sale on card usage, by more than 30%. The technology built into the new model ensures that the rapid speed of authorisation, for which Paymentology has become recognised as the market leader, is not compromised and the accuracy of the data ensures that all non-fraud... more
NICE Actimize and Infosys announce strategic partnership to offer end-to-end financial crime solutions
NICE Actimize, a NICE (Nasdaq: NICE) business and a leader in Autonomous Financial Crime Management and Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, together today announced the expansion in their strategic collaboration. This global partnership will allow Infosys to offer its best-in-class delivery capabilities and resell NICE Actimize’s end-to-end financial crime software solutions through either a... more
Featurespace, the leading provider of Adaptive Behavioral Analytics software for Enterprise Financial Crime prevention, has raised £30 million ($37.4 million) from a funding round led by Merian Chrysalis Investment Company Limited. The round also included further funding from a number of existing investors. The funding will be used to support Featurespace’s continued growth.
Forter, the leader in e-commerce fraud prevention, today announced the general availability of its Fraud Prevention Platform for Payment Service Providers (PSPs), enabling PSPs to manage fraud for their merchants. Forter’s award-winning platform accurately reduces fraud chargebacks while increasing approvals, and it delivers an exceptional, frictionless consumer experience.
There is no question that the pandemic has created large-scale social and behavioural shifts among consumers. Not only has it fundamentally changed attitudes toward risk, but it is challenging expectations around online security, convenience and access, or lack thereof, to key staples, e.g. toilet paper purchased online, and other digital services.
Marqeta, the global modern card issuing platform, today released the findings of a survey of over 4,000 UK and US consumers, looking at their attitudes to, and experiences of, financial fraud. 96% of UK respondents report having concerns about fraud, but more than two fifths (42%) said they accept fraud as a cost of living in an increasingly digital economy.
Man and machine are the perfect pair when it comes to fighting payment fraud, according to a new whitepaper from European payments industry leader, Nets and multinational professional services provider, KPMG. Fighting Fraud with a Model of Models explains how utilising human expertise in combination with artificial intelligence (AI) and machine learning (ML) technologies can significantly increase the accuracy of fraud prevention services.
Fenergo Launches Remote Account Opening Solution to Accelerate Small Business Emergency Loan Approvals
Fenergo, the leading provider of digital transformation, customer journey and client lifecycle management (CLM) solutions for financial institutions, today announces the launch of its digital cloud-based Remote Account Opening solution, ahead of schedule, in order to assist US small businesses in accessing PPP emergency loans.
Coronavirus Pandemic, Store Closures, Shift Consumer Buying Behaviour Leading To Accelerated Digital Transformation For Merchants
Forter, the leader in e-commerce fraud prevention, today announced the release of the Forter Special Report on the Impact of Coronavirus on Consumer and Fraudster Behaviour.
GoCompare is urging people to stay safe online as official statistics show a dramatic increase in phishing and online shopping scams, with cybercriminals looking to capitalise on coronavirus fears. According to Action Fraud’s figures for March 2020, coronavirus-related fraud reports have increased by 400%, with victims’ losses totally nearly £1million.
- 24.03.2020 03:31 pm
- Fraud Detection
Forter, the leader in e-commerce fraud prevention, today announced the release of Forter Returns Abuse Protection.
Chargebacks911 Launches Partner Onboarding App for Gateways, Fraud Filters and Merchant Service Providers
- 27.02.2020 04:11 am
- Fraud Detection
Chargeback dispute management specialist, Chargebacks911, today launches a new onboarding product for partners that allows merchants to connect to their technology platform through their existing service provider.