Fraud & Security Reducing Health Care FWA Losses – Find Your Focus
A key component of stopping fraud, waste and abuse is to focus on your most productive targets: Who or what should be the focus of your payment integrity program?
Tag Archives: Fraud
Fraud & Security PSD2 Strong Customer Authentication – 3 Reasons to Include SMS
Despite the legitimate concerns, it would be wrong to ignore SMS as a Strong Customer Authentication tool for PSD2.
Fraud & Security PSD2 Strong Customer Authentication – 3 Factors for Success
PSPs are now actively implementing strategies to help them meet their SCA obligations, so what are the key factors they should consider?
Fraud & Security Adaptive Analytics Help EnterCard Cut Fraud Loss Rate 60%
As one of the first companies to use the FICO Falcon Platform's machine-learning adaptive analytics capability, EnterCard is able to rapidly respond to shifts in fraud patterns.
Fraud & Security How Pre-Payment Prevention Can Lower Health Care Losses
The most effective approach to pre-payment prevention of losses is to risk score your claims, post-adjudication, prior to payment, in production-strength software which uses xAI and machine learning.
Fraud & Security PSD2 Strong Customer Authentication – What Do Consumers Think?
Customers could thwart PSPs' plans for Strong Customer Authentication if they don't know about it in advance.
Fraud & Security Banking Fraud – What’s Happening In Asia Pacific?
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]
Risk & Compliance Competing in a Digital-first Environment: Is your Origination Process Ready?
“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]
Fraud & Security Top 5 Fraud & Security Posts 2018: AI and Machine Learning
The tremendous interest in AI and machine learning drove the readership on the Fraud & Security blog in 2018. Here are the five posts with the most views.
Fraud & Security Fraud Analytics for Open Banking: Multi-Layered Self-Calibrating Models
Regarding fraud analytics for open banking, where historical data is not yet available and the evolution of open banking in terms of adoption is still unclear, unsupervised machine learning can be a strong weapon for fighting financial crime events.