Latest opinions that Ben O'Brien has shared on Finextra

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Ben O'Brien

Managing Director

Jaywing

Member since

11 Nov 2015

Location

London

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Ben's opinions

Reflections on risk: What 2024 taught us

As we reflect on the past year, it’s evident that 2024 presented both challenges and opportunities in risk management. In this post, we share key takeaways from the last year, offering insights that can help shape risk strategies for 2025. #1. Predictive modelling: Smarter decisions for safer lending Predictive modelling continues to advance as bus...

20 February 2025 /predictions

The changing face of AML: How PSPs can stay ahead of financial crime

Payment Service Providers (PSPs) are facing an uphill battle against financial crime. As transaction speeds increase and new payment methods emerge, criminals are exploiting weak spots in AML controls—often faster than traditional defences can respond. In 2023 alone, UK customers lost nearly £1.2 billion to financial crime, with £580 million lost t...

07 February 2025 /crime

AI research report: How are financial institutions leveraging AI in risk?

AI adoption in risk has reached a pivotal stage. According to our new Jaywing research, 65% of UK financial institutions have moved beyond exploration to active AI implementation. However, 36% still have no AI models in risk, leaving them increasingly vulnerable as the competitive gap widens. Early adopters are already reaping the rewards, reporti...

07 February 2025 /ai

Why AI-driven fraud detection is crucial for Payment Service Provider growth

Payment Service Providers (PSPs) need fraud detection systems that can anticipate and adapt to emerging types of fraud whilst maintaining the delicate balance between security and customer experience. We've witnessed this first-hand with our clients, where our AI-driven approach strengthens fraud detection capabilities across multiple jurisdictions...

19 December 2024 /ai /crime

Financial fraud today: Educating consumers as a line of defence

Fraud impacts every sector of society – from major corporations to everyday consumers. Recent trends reveal marked shifts in fraudster behaviour, highlighted by a 31% increase in romance scam payments over the past year and new patterns in investment fraud. These scams continue to grow in sophistication, combining advanced technology with social e...

05 December 2024 /crime

12 lessons in predictive modelling for enhanced credit risk assessment

Modern credit risk management now leans significantly on predictive modelling, moving far beyond traditional approaches. As lending practices grow increasingly intricate, companies that adopt advanced AI and machine learning gain a sharper edge in understanding and managing risk. Below, my colleague Nick Sime, Director of Fraud & Credit Risk M...

07 November 2024 /ai

Unmasking the invisible: Confronting hidden fraud risks in finance

While many financial institutions have implemented robust prevention systems, less obvious vulnerabilities often remain unaddressed. These overlooked weaknesses create prime opportunities for sophisticated criminals, especially as financial crime increasingly shifts to online and social media platforms. The current state of financial fraud Recent ...

01 November 2024 /crime

The PRA's SS4/24 and Basel 3.1 IRB: What firms need to know

UK banks face significant changes to regulatory capital requirements under the Basel 3.1 framework. The PRA’s recent publication, PS9/24, sheds further light on these changes but also brings new challenges for firms working to meet compliance standards. In this post, we’ll focus on the IRB part of the ruleset, detailing the essential steps firms ne...

31 October 2024 /regulation

DCA redress: Key steps for motor finance firms post-landmark ruling

With the FCA’s ongoing investigation into Discretionary Commission Arrangements (DCAs) and pivotal updates expected in May 2025, a recent Court of Appeal ruling has further shifted the balance in favour of consumers. On 25th October, the court declared the use of 'undisclosed commission' in motor finance contracts unlawful. This landmark ruling wil...

31 October 2024 /regulation

Data storytelling in Financial Services: Turn insights into action

Numbers have always been crucial for measuring success. From revenue figures to profit margins and customer acquisition expenses, these numbers guide critical decisions. Yet, today, the challenge remains in creating stories that can shift these numerical dials. It's about taking complex datasets and turning them into narratives that drive real cha...

15 October 2024 /predictions Analytics in Banking