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The key types of digital payments fraud, ecommerce risk management tactics, and the tools to fight back When it comes to digital payments, ensuring that all genuine transactions are processed smoothly while avoiding fraudulent ones can feel like a constant battle. As preventative technology evolves so does fraud, which is why constant vigilance ...
01 December 2020 /payments /predictions Fintech
Since the 2008 financial crash, financial services have developed their compliance systems at pace. From tools that analyse trades and behavioural anomalies, to those that track and map changing financial regulation – manual, error-prone systems are fast becoming a thing of the past. CUBE’s Elliot Burgess reflects on the journey of automation so f...
27 November 2020 /regulation /people RegTech
When I think about the next couple of years for the UK banking industry, this nightmare scenario comes to mind. A milkman is going door-to-door collecting empty bottles. As he peers ahead through the grey morning light, a horrible realisation dawns. He sees that the street is endless and there are thousands upon thousands of empties to collect. Wh...
27 November 2020 /payments /covid-19 Operational Risk Management
Banks won’t come out of this pandemic unscathed – ISG analysis suggests that EMEA banking revenues could be hit by up to 40% in 2021. Interest margins are being squeezed hard, capital ratios are under attack, and the money has to be found from somewhere else. It’s time to look seriously at spending. Even after a decade of low interest rates, there...
26 November 2020 /covid-19 Banking Strategy, Digital and Transformation
Unfortunately genuine customers are not the only ones shopping with customers this peak season. Fraudsters are also busy this time of year. To help identify potentnail fraud, here are four common online fraud types and how retailers can avoid falling victim to them. 1. Account takeover This is when fraudsters take over an existing customer accou...
25 November 2020 /security /payments Fintech
Fraud and financial crimes perpetrated against insurers are on the rise. Although the banking industry remains the primary route for money laundering, stricter regulations and improved AML controls within that sector have driven criminals to other channels that may be more vulnerable to money laundering activities. Insurance providers, often less ...
24 November 2020 /regulation /crime Digital Insurance Trends
While every sector has been affected by COVID-19 in some way, the retail industry has experienced one of the most dramatic shifts of all. With the UK and much of Europe in a second lockdown many bricks-and-mortar outlets are being forced to close their doors once again and many retailers are fearing the changes that will come from this. Back in Ma...
23 November 2020 /payments /covid-19 Fintech
It has been 12 years since the first cryptocurrency appeared. Back in October 2008 Satoshi Nakamoto published a whitepaper about a peer-to-peer electronic cash system which he dubbed “Bitcoin”. In early 2009, the first block was mined and the first ever Bitcoin transaction took place. This marked the beginning of the creation of the first decentral...
23 November 2020
Artificial Intelligence, in all of its different forms, isn’t new in the financial services space. As is often the case with new technologies, banks were early adopters of AI, with early use cases being focused on chat bots, RPA, as well as fraud and risk management. However whilst, according to McKinsey, 60% of firms have at least one AI capab...
19 November 2020 /retail /cloud Artificial Intelligence and Financial Services
Almost every sector in the UK has faced unprecedented disruption in 2020 and the finance sector is no different. In particular, businesses operating in this industry have had to overcome a series of obstacles to ensure they can still deliver when it comes to customer service. Contact centre staff have been forced to work remotely and agents have h...
18 November 2020 /regulation /people
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