Fraud & Security 3 Things Banks Can Do to Tackle Push Payment Fraud
The pressure for banks to tackle push payment fraud is mounting – besides liability, the scope for bad publicity and loss of reputation is significant.
Tag Archives: Regulation
Customer Engagement How to Address Overpayment for Mobile Phones
Ofcom are currently consulting on how to address overpayment for mobile phones - is better customer communication the answer?
Risk & Compliance AML Case Management: A Better Approach
Clearly, we need other approaches to AML case management than hiring investigators. An increase in both effectiveness and efficiency of the overall compliance process is required.
Fraud & Security Will PSD2 and SCA Ruin Your Customer Experience?
Alarmingly, from RFPs we’ve seen at FICO, many banks are creating systems that will either be non-compliant with SCA or will create an unacceptable customer experience
Fraud & Security AI and Machine Learning for Financial Crime — Now on TV (Video)
I was interviewed recently for a new TV program called Tomorrow’s World Today, where I discussed how we are using AI and machine learning for financial crime protection.
Fraud & Security Special Report: Convergence of Fraud and Compliance
A new special report from Raconteur, published in today's edition of The Times in London, calls out the growing trend of convergence of fraud and compliance.
Fraud & Security PSD2 Fraud Reporting – The Consistency Challenge
PSPs will be obliged to report not only how many cases are fraud, and the type of fraud, but also the total financial loss suffered, in a common format.
Risk & Compliance CECL for Auto Finance – How to Get Set for CECL?
How to get set for CECL In my last blog post, I started to outline my “10 Requirements for an Effective CECL Software Solution,” where I focused on three requirements your organization needs to do to get ready for CECL implementation. This post will address four requirements for getting set for CECL, i.e. what capabilities your solution must have to provide a stable platform for CECL execution and analysis. 4) How to get set for CECL – Seamless process orchestration A robust CECL software solution will orchestrate all end-to-end expected credit loss (ECL) calculations from data input to component model calculations to final reporting and detailed outputs. It will automate processes wherever possible but will also allow manual intervention where required to incorporate management overrides. This orchestration will occur “behind the scenes” but the effects still need to be transparent to the user. All inputs, models, calculations, parameters and key outputs... [Read More]
Fraud & Security Will PSD2 Increase Authorised Push-Payment Fraud?
Strong customer authentication makes some kinds of fraud more difficult and criminals will be looking for the next opportunity, such as authorised push-payment fraud.
Risk & Compliance Chartis Names FICO a Category Leader for CECL
Leader in CECL, FICO says it can ‘deliver a competitive business advantage’ FICO has been recognized as a “Category Leader” by Chartis Research in its report on CECL (Current Expected Credit Loss) technology solutions. The May 2018 report from Chartis compares the CECL solutions of 17 technology vendors, based on both ‘market potential’ and ‘completeness of offering’. Read our release on the report. Leader in CECL: Chartis FinTech Quadrant™ Chartis explains in the report, CECL Technology Solutions 2018, that because most financial institutions in the US outsource almost all of their systems, they won’t be ready to comply until vendors are ready with solutions that match their technology and process requirements. Chartis also observes that vendors with a SaaS and data focus are best placed to deliver the “ideal” CECL offering: a flexible solution with support for core business operations. “Our position in the Chartis FinTech Quadrant for CECL technology solutions... [Read More]