Without an effective way to verify contact information, a consumer #finance firm faced a heightened risk of losing revenue to fraudsters. Read how they were able to improve onboarding intelligence and reduce #fraud. https://lnkd.in/eNHbAUbB #fraudprevention #identityverification
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A review by the FCA has found that many financial firms are not placing enough focus on delivering good customer outcomes and support to fraud victims. the same review found that many anti-fraud systems were lacking. This is an ideal opportunity for financial institutions and fintech companies to take advantage of #AI and other digital tools. By embracing #DigitalTransformation, they can make it easier to detect and prevent fraud, as well as properly handle customer complaints. #Fintech #Finance #AntiFraud
FCA review: firms must strengthen anti-fraud measures
https://www.neopay.co.uk
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🚨🚨🚨Invoice fraud costs businesses annually on average c.$300k. That is $B per year across the US! And it is getting more sophisticated... 👀 This is an email our Head of Finance received earlier asking him to pay an invoice looking like I had directly emailed "Leeny Oberg" granting approval. Luckily James P. isn't easily fooled: 1. I don't have an Android 📱 (does anyone?) 2. We don't stay in the Ritz-Carlton 🏨 3. How many CFOs also put "VIP Relationship Manager" in their signature... 🔎 4. The domain name "ritz-carltonexecutive .com" doesn't work and has been recently purchased 🚩 5. Our mission is secure payments for businesses so we run top-tier training on fraud 👨🏫 On top of common sense, we have payment approval processes. 🔂 With the backdrop of ever-increasing and more sophisticated fraud and the continued use of analog payment methods like checks, emails like this re-affirms why tranch exists to offer secure payment checkouts for the largest services firms in the world. 🔐 Anyone seen any other recent examples of more sophisticated fraud? 🕵♀️ #fraud #fintech #payments #ritz #controls #training #invoicefraud #invoices #tranch
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Address verification is an important step in the KYC process. It helps to prevent fraud and identity theft. By using utility data and adopting modern, automated solutions like AiPrise, organizations can ensure regulatory compliance, prevent fraud, and offer a more efficient and secure experience to their customers. Discover practical tips and insights about using utility data for proof of address verification in our latest blog. Dive in for insights! Click the link to learn more; https://lnkd.in/daNyt_WF #addressverification #CustomerOnboarding #Compliance #kyc #kyb #identityverification #fintech #utilitydata
Utility data for proof of address compliance: A step-by-step guide | AiPrise
aiprise.com
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Payments fraud is a beast that’s getting bigger and scarier every day, and with the release of more real-time payment rails, it will only continue to grow. Fortunately, there is a solution in AI-powered fraud management tools! Learn more: https://bit.ly/3ZCMyWj #fraudprevention #frauddetection #fraud #payments #paymentfraud #creditcardfraud #bec #ai #machinelearning #banking #finance #fintech
Real-Time Security: Preventing Payment Fraud
fraud.net
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Strong fraud protection gives financial institutions an advantage. Customers want strong fraud protection. For businesses, it brings in more customers. Learn more: https://lnkd.in/d7QnwWkP #fraudprotection #customergrowth #customers #businesses #fintech
Importance of Strong Fraud Protection
https://diro.io
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Executive Banking Consultant & Director of Advisory Services @ Samlink | Co-host @ Fintech Daydreaming Podcast | Keynote Speaker and Author
KYC is evolving into a complex game of cat and mouse with escalating stakes. The challenge for financial institutions is clear: How to enhance KYC protocols without burdening consumers? https://lnkd.in/dhDDi9CR #KYC #FinancialInstitutions #Compliance
UK home to 3m 'Frankenstein identities, posing multi-billion pound threat
finextra.com
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Criminal activity on our accounts and finances drives us to make changes every time. For businesses, if they choose to not make the necessary changes, they’re going to lose out BIG. What we’re seeing as a trend now is businesses taking action specifically regarding check fraud. The uptick in check fraud is forcing their hand. Forcing them to adopt digital payments. #CheckFraud #Payments #DigitalPayments
Where check fraud is driving businesses to adopt digital payments
americanbanker.com
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If you want to break down the siloes in your origination and fraud processes what steps should you take? My FICO colleague Matt Cox gives his tips on how to improve processes to support integrated approaches. #Fraud #FraudTrends #cex https://lnkd.in/eqwMY8Aw
How to Improve Application Fraud and Originations Processes
fico.com
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Our new Fraud & Error Prevention Suite harnesses the power of automation to safeguard your payments, audit, and reporting processes: 👉 Optimize payment procedures 👉 Minimize the need for manual intervention 👉 Mitigate human error and the risk of fraudulent activity 👉 Enhance adherence to regulatory standards Read the blog below to find out more. 🚀 https://lnkd.in/dZneGwFi #fraudprevention #humanerror #payments #riskmanagement #regulatorycompliance
Don't Risk It: Safeguard Your Business with Fraud & Error Prevention
accesspay.com
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