47 Results from 2022, /identity
Simon Horswell Fraud Specialist Manager at Onfido
There’s no doubt that biometrics, such as fingerprint and facial biometrics, are taking customer experience into a new era. Today, different forms of biometrics are widely used to help businesses verify users for the purposes of both Know Your Customer (KYC), fraud detection and prevention. With identity fraud rocketing 44% since 2019, biometrics ...
21 November 2022 /security /identity Biometrics
Philip Chethalan Marketing Manager at Subex
Identity fraud is the unauthorised use of a person’s personal information by another person to commit a crime or deceive or defraud that person or a third party in order to take advantage of the pleasures that come with that synthetic identity. The majority of identity fraud is performed for financial gains, such as gaining access to a victim’s cre...
18 November 2022 /identity /crime Biometrics
In February 2021, the Reserve Bank of India published a paper detailing Digital Payment Security Controls (DPSC). The paper was developed to aid Indian financial organisations in protecting digital channels and offering commodities to clients with Identity Verification solutions. Global financial services corporations are caught between the govern...
04 November 2022 /identity /markets
Stan Cowan
Customized Machine Learning: The secret sauce of world-class risk stacks In today's world, the most successful companies work data-driven. The data science and machine learning (ML) advancements over the past ten years are truly remarkable. With breakthroughs in complex statistics and deep learning, companies have more tools and data today than ev...
28 October 2022 /identity /crime Artificial Intelligence and Financial Services
Barley Laing UK Managing Director at Melissa
The cost of living crisis, combined with an increase in digitalisation of services and remote working at a time of great volatility in the world, has created new motives and justification for fraud to flourish. In fact, the current turmoil has fed into the three elements of the fraud triangle: motivation, opportunity and rationalisation. As a resu...
26 October 2022 /regulation /identity Digital Identity Management
Retired Member
What does customer centricity mean to financial services? "Customer-centricity" is a term that many organizations have adopted. While it is vague, it refers to many things that can profoundly impact how organizations interact with their customers. Unfortunately, most financial institutions do not have a strong customer focus, primarily d...
25 October 2022 /retail /identity Banking Strategy, Digital and Transformation
Generally, when you talk to a team who handles fraud at financial institutions, fintechs, or other similar organizations, one of their biggest goals is to reduce the overall number of suspicious events that require a human in the loop to manually review an application, transaction, or newly onboarded account. With today’s modern automatic decisio...
14 October 2022 /identity /crime Artificial Intelligence and Financial Services
Digital change happens at the speed of light, and fraudsters move nearly as quickly to exploit vulnerabilities and gaps in fraud prevention capabilities. Financial institutions cannot afford to leave protection up to chance. Consumer demand for digital-everything has been steadily rising for years but has sped up since the height of the pandemic. S...
10 October 2022 /identity /crime Artificial Intelligence and Financial Services
The battle against fraud in this evolving digital world is never-ending.There’s this so-called “squeezing a balloon effect” in the area of fraud among financial institutions — and credit unions are no exception. In the global landscape, financial institutions including credit unions should expect the unexpected. The battle against fraud in this ev...
07 October 2022 /identity /crime Financial Risk Management
Today’s financial landscape has been fraught with numerous issues such as data breaches, cyberattacks, identity theft, and credit card fraud. Experts believe that these issues contribute to fraudulent transactions and, if not mitigated, will lead to customer churn and further business loss. According to a Carnegie Mellon University study, customer...
06 October 2022 /identity /crime Digital Banking Trends
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