In association with CIR magazine, the Institute of Risk Management (IRM) annual Risk Management Awards recognize individuals, organizations and teams that have significantly added to the understanding and practice of risk management. CustomerXPs is shortlisted for the 2018 Risk Management Awards.
FinCEN rules to strengthen Customer Due Diligence requirements contain explicit requirements + a new requirement to verify the identity of beneficial owners. What do these new compliance requirements mean for banks?
The 10th edition of the Association of Certified Fraud Examiner’s global study features 2690 real cases of occupational fraud, data from 125 countries, includes 23 major industry categories and explores the costs, schemes, victims and perpetrators.
While Anti-Money Laundering laws and mechanisms prevent money obtained illegitimately from entering the formal economy, it is a constant battle between the launderer and the regulator. As the financial ecosystem keeps evolving with new products, instruments and processes so do the potential for misuse of these avenues for laundering.
As monolithic structures threaten to crumble it would be prudent to try and understand the elements of the digital wave that can perhaps avenge the metaphorical Thanos in this new ecosystem.
A veritable smorgasbord of new technologies are brewing up a perfect storm of disruption with AI expected to permanently change the banking industry in profound ways.
Expectations from digital banking have evolved rapidly and are quite different today from what they were just 2 years ago. Success in digital banking now has several newer dimensions.
A rerun of our thriller series, tell the tales of the fight between the forces of good and the forces of evil. Based on real events and guaranteed to keep you on the edge of your seat!
Hybrid fraud detection models that ensure high fraud detection rates with low false positives is vital to banking enterprise fraud management. A hybrid model’s techniques help accurately risk score transactions and advise appropriate interventions in real-time.
The fourth report in Deloitte’s annual surveys on financial crime in MENA tracks changing norms, attitudes around compliance and the management of financial crime. This year’s report focuses on certain key themes including regulators and the technology revolution, transformation of the compliance function and emerging threats.
While traditionally fintech was a back office operations function, today it has evolved to where customers have a multitude of digital channels at their disposal. With 24/7 device-agnostic access, virtually every transaction is now digitally possible.
Non-performing assets is among the top pains for financial institutions. AI and Machine Learning based technology can help banks with smarter NPA management.
Among the prestigious global recognitions for risk management in financial services, the Asian Banker Risk Management Awards recognizes outstanding achievements of best run risk management teams in financial institutions globally. Premier CustomerXPs Clari5 customer Axis Bank won this year’s OpRisk Technology Implementation of the Year Award.
The report studies the global Financial Fraud Detection software market, analyzes and researches the Financial Fraud Detection software development status and forecast in US, EU, Japan, China, India and Southeast Asia. The report features the top global players, including CustomerXPs.
Hybrid fraud detection models that ensure high fraud detection rates with low false positives is a vital aspect of banking enterprise fraud management. A hybrid model’s techniques helps accurately risk score transactions and advise appropriate interventions in real-time.
Cybercrime continues to be an unending botheration for banks. While the focus of attempts and attacks until recently, tended to be on the banks’ customers (via card and account detail compromises), of late fraudsters have become more sophisticated and have raised the stakes.
In the world of financial transactions, rule based heuristics are often employed to detect fraud, rather than to detect anomalies. Given the fundamental shortcomings of rule based heuristics, how does machine learning help in fraud detection?
One of the first banks in India to implement Real-time AML Compliance and Enterprise-wide Fraud Management on a Single Platform. Clari5 is now helping the bank process over 30,00,000 transactions/day with high real-time throughput.
Bank of Ceylon (BOC) as part of its enterprise financial crime risk management strategy has chosen CustomerXPs’ Clari5 real-time Anti-Money Laundering solution for combating money laundering threats in real-time.
Fraud Intelligence magazine’s latest report on anti-fraud technology advances talks about how Clari5 enables banks to capitalize on the customer’s ‘soul’.
See how EFCRM-centric RaaS can address a spectrum of areas ranging from transaction monitoring to fraud management to money laundering to CFT (combating the financing of terrorism) programs to cyber-security.
With the number of consumers switching to digital and mobile channels growing literally by the hour, banks need to simultaneously boost their defense mechanisms to prevent e-commerce and m-commerce frauds.
From identification to authentication to anomaly detection to fraud prevention – the entire process will have to be enhanced exponentially with intelligent real-time tech that can synthesize collective wisdom from across systems.
The old story of AI is about human brains working against silicon brains. The new story of IA will be about human brains working with silicon brains. As it turns out, most of the world is the opposite of a chess game: Non-zero-sum — both players can win.
Besides helping detect fraud syndicates, AI-based real-time, cross-channel anti-fraud technology can help decline loans or keep an eye on the borrower and restrict them or favor them according to their credit risk and fraud risk ratings.
An AI based real-time enterprise fraud management system with cross channel prevention capabilities becomes the bedrock on which the entire enterprise AI of the bank rests.
With more organizations in all industries moving to a platform offering, more financial organizations will leverage open banking models to improve convenience, personalization and market offerings.
While it offers massive convenience, digital wallets are as vulnerable to fraud as other banking channels. Here’s an overview of the Indian digital wallets landscape with some insightful tips on reducing vulnerabilities.
How AI-powered regtech enhances a bank’s regulatory compliance efficiencies and why banks must make it a key component in their operation risk management strategy.
When an unauthorized charge is made in a location other than the one specified by customer, it can be detected automatically. See how location based authentication works in detecting fraud.
AI or CX or Blockchain or Regtech? What will take the spotlight next year? As 2017 comes to a close, here’s a preview of the top 10 drivers in the year ahead.
For a region that has begun experiencing the benefits of financial inclusion initiatives, it would augur well for financial institutions and regulators to add a fourth dimension to the existing three (of access, affordability, quality).
FinCEN is on a crusade to have financial institutions integrate fraud detection with AML. At most institutions, these two functions are in different departments. By bringing the two together into a unified Financial Crimes Department, FIs can operate much more efficiently.
Combining the power of Artificial Intelligence, Real-time Decisions, Automation and Machine Learning, Clari5 synthesizes historical and real-time data across all your bank’s channels and not only delivers split-second contextual intelligence to detect and prevent fraud but also customized marketing promotions in real-time.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience. You can read more about our cookie policy here.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
