TJ Horan

There’s a lot going on in the retail payments space – defined as transactions between two consumers, between consumers and businesses, or between two businesses. With any change, fraud comes hand-in-hand. Some of the changes are related to new digital payments methods like P2P apps, tap-to-pay, and cryptocurrency, which are all growing options in retail environment…

Data Orchestration for Fraud Prevention There has been an awful lot of unsettling news about scams and fraud lately. A crescendo, even. As it happens, orchestration (of both data and process) is one of the most potent weapons in fighting scams and fraud. The good news is this technique is readily available today — and not a moment too soon. Scams Are Front Page…

While it may seem like an esoteric topic, explainability in fraud management is important – and it’s especially relevant when it comes to using AI and machine learning in fraud detection and prevention. At the core, explainability in fraud management means that we have an understanding of the methods used, how the systems work and how data points inform the de…

The payments market in Brazil is undergoing radical change as the country moves from a traditionally cash-based society to new flexible payment products and services. This shift has created significant opportunities for local banks, however with this growth comes the inevitable threat of increased fraud, exacerbated by the Covid pandemic and the explosion in ecommerce…

The changing global regulatory landscape and ever-shifting fraud vectors are just two of the biggest challenges facing financial institutions. I recently sat down with Sidhartha Dash, Research Director at Chartis Research, for a conversation about the technology and trends in enterprise fraud management. Our lively discussion touched on a wide range of topics, and I e…

Payment fraud is an ideal use case for machine learning and artificial intelligence (AI), and has a long track record of successful use. When consumers get a call, text, email or in-app messages from their card issuer asking them to validate a transaction, or informing them of fraud on their card, they may not even suspect that behind this bit of excellent customer se…

As 2021 wraps up, people still ask me how my wallet diet is doing. Unlike most weight loss gimmicks, I’m pleased to report that my billfold has only been getting slimmer and sleeker since I first talked about the wallet diet in my 2018 predictions blog. Shockingly, post-pandemic, my wallet seems to be withering away; when I leave (work from) home, I often don’t eve…

Welcome to the holiday shopping season for 2021, the second impacted by the pandemic. Global Supply chain issues and scenes of countless ships waiting to unload their global cargo have certainly reminded us all of how interconnected we are around the globe. When we combine those logistics challenges with lingering fears of entering crowded malls, we have certainl…

It is a new buzzword for me: cobot, or collaborative robot, “a robot intended for direct human-robot interaction within a shared space.” And I got a few HAL vibes when reading a Harvard Business Review article on cobots that says: “Firms achieve the most significant performance improvements when humans and machines work together. Through such collaborativ…

I recently had the honor to participate in a panel discussion during the Aite-Novarica Financial Crime Forum. Joining me were insightful leaders from the financial industry: Trace Fooshee from Aite-Novarica, Stan Dillon from FIS, Deepthi Machavaram from BNY Mellon and Mike Sherrod from Truist. This was a lively and insightful discussion around operationalizing…

As the world continues to move through COVID, every day can hold a surprise. A few weeks ago US economists were surprised when the Commerce Department reported that retail sales rose by 0.6% in June 2021 — up 18% compared to June last year and now 18% above their pre-pandemic level. As consumers flock back to stores, some may be surprised and delighted to learn t…

If your institution saw an increase in ACH transactions last year, you’re not alone. NACHA, the payments clearing house through which ACH transactions flow, reported a banner year in 2020, posting an 8.2% increase in volume and a 10.8% increase in dollar value over 2019. Additionally, ACH internet transactions rose 15% from 2019 to 2020. As it happens,…