The bank customer of the day has a new avatar. Easy, instant access to wider information, extensive knowledge about choices available and privileged treatment by organizations in other industries have made them remarkably well-informed and demanding. They do not hesitate to quickly shift to whosoever serves their needs best.

The use of hybrid fraud detection models to ensure high fraud detection rates with low false positives is a vital aspect of enterprise fraud management. A ‘hybrid’ fraud detection model comprises 4 primary techniques are used to accurately risk score every transaction and to advise the right action of whether to approve, decline or challenge the transaction in real-time with sub-second response time.

Risk as a Service with a focus on Enterprise Financial Crime Risk Management (EFCRM) is fast becoming a core component in a bank’s overall risk management framework. EFCRM-centric RaaS addresses 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.

In the world of financial transactions, rule based heuristics are often employed to detect fraud, rather than to detect anomalies. The cat and mouse chase of financial institutions and fraudsters is an ongoing battle that has costed the global economy close to half a trillion dollars. Given the fundamental shortcomings of rule based heuristics, how does machine learning help in fraud detection?

AI-driven regulatory technology goes beyond helping banks improve compliance and cut costs and actually helps lighten the growing regulatory burden.

Brexit will have a far-reaching impact on the UK and Europe across all sectors including the financial sector. This paper takes a quick look at financial fraud in the context of Brexit and the key points which CROs must be aware of.

Synthesize holistic wisdom from core systems and not just from channel silos. From depth of analysis, ease of configuration/ implementation and cross channel fraud detection to insider fraud detection and real-time high availability, a synchronized Enterprise Fraud...

Credit cards have evolved from magnetic strips to chip-and-pin, chip-and-choice, and chip-and-signature cards. EMV is now the de facto global standard for the chip technology embedded in financial payment cards. In the fourth quarter of 2012, there were 1.62 billion...

Banks and financial institutions are seized with newer forms of threats to the safety and security of their data, a critical asset for any organization. In the age of Internet of Things, criminal activities and data theft have also gotten smarter and savvier, with...

Cross channel scams are the most pervasive form of frauds perpetrated against bank customers. This whitepaper takes the help of use cases to highlight the importance of cross-channel systems.

Banks throughout the world are recognizing that fraud has become sophisticated and more and more pervasive. They need to move away from silo based systems to take into account channel-specific fraud management techniques that have the ability to share information with...

Starfish like ideology of the banks handling risks is no longer acceptable. Starfish Banks are no longer thought as the most important and profitable economic factors: they are more seen as potential danger to stability of the organization.As banking regulation is...