Tag Archives: Fraud

Fraud & Security Banking Fraud – What’s Happening In Asia Pacific?

Banking Fraud
Jan232019

FICO recently hosted 60 banking fraud professionals from 33 organizations and 8 countries at its Asia Pacific Fraud Forum.  Attendees were keenly interested in how artificial intelligence and machine learning continues to be a key technology in the fight against fraud and financial crime. There was also a lot of discussion about the growing convergence between fraud and compliance departments and how business and operational models must adapt. Lastly, there were common challenges around the growing complexity of data sets and the need to deal with them at speed and with greater accuracy. Three of FICO’s fraud leads explain some of the key themes and discussion points raised at our Asia Pacific event. Banking Fraud – Financial Crime Convergence! Adam Davies: During the event, there were many conversations and discussions around the convergence between fraud and financial crime. It was interesting to see that many of the attendees had responsibilities... [Read More]

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Risk & Compliance Competing in a Digital-first Environment: Is your Origination Process Ready?

Banking - Originations
Jan092019

“He who defends everything defends nothing” That quote, attributed to the 18th century King of Prussia Frederick the Great, refers to military strategy, but it could just as easily be used to describe the dilemma faced by financial services executives as they modernize their loan origination processes. In the first post of my multi-part series on how banks are solving common challenges in acquiring and retaining new customers, I looked at the challenges and opportunities financial institutions need to address in improving marketing performance. In this write-up, I want to focus on similarly practical solutions to common challenges in the origination process as it is a convergence point for a lot of different objectives necessary to deliver growth—provide a compelling customer experience, minimize credit losses, prevent fraud, maximize revenue, and comply with regulations. Fully addressing all of those objectives (or defending all of those fronts) is an impossible task. Move... [Read More]

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