BANKING PAYMENT FRAUD: BEST PRACTICES AND SOLUTIONS TO FIGHT FINANCIAL CRIME
This webinar took place on 27th February 2020. You may watch the recording below.
About this webinar
The disruptive digital transformation of banking services and the impact of Open Banking drives greater competition and choice for all. But it also opens new doors and presents opportunities to defraud and trick bank customers.
As digitally based services multiply so does the importance and stress placed on traditional methods to identify and fight fraud. Rules based, often reactive paper-based processes are no longer sufficiently agile and sophisticated enough to battle new types of fraud. Financial institutions must adopt new strategies and maximise new technologies-the smarter use of artificial intelligence, detection techniques and identity solutions.
Fraud impact is well known in the merchant/card industry but how does it affect traditional bank payments in an increasingly open industry, where customer data moves more freely between institutions?
What differs is how fraudsters target them and this topic, and many others, is the theme of the session. Through sharing banking fraud use cases we will explore how organised crime is evolving, its impact and how the industry is responding.
We will discuss the issues and best practices to tackle them. How to integrate technology and curate data to get ahead of financial fraud and identity theft.
Join in the discussion with Finextra, NetGuardians and other industry experts on topics such as:
- The growth of sophisticated financial fraud across all transactions in an instant, digitally connected industry.
- The limitations of traditional methods of fraud detection-rules based solution and paper dependent processes.
- The use of emerging technologies to leverage data and the smarter use of artificial intelligence to highlight potential fraud with fewer false positives and more effective outputs.
- The use of more productive strategies and proactive solutions to combat fraud.
Gary Wright [Moderator]
Head of Research
CEO & co-founder
Global Head, Fraud Risk Oversight
Institutional Clients Group
and Citi Commercial Bank
Head of Fraud Prevention and Analytics
Global Fraud Management