https://www.finextra.com/ The Latest Financial IT Financial crime Headlines Copyright 2025 Finextra Research Ltd en-GB contact@finextra.com (Finextra Contact) https://www.finextra.com https://www.finextra.com/finextra-images/site/finextra.png https://www.finextra.com/newsarticle/45817/tackling-fraud-learn-how-to-build-smarter-defences-at-nextgen-nordics?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/45817/tackling-fraud-learn-how-to-build-smarter-defences-at-nextgen-nordics?utm_medium=rssfinextra&utm_source=finextrafeed Fri, 11 Apr 2025 09:22:00 GMT As real-time payments gain momentum, financial institutions are faced with attempting to deliver seamless digital payment experiences while also mitigating against sophisticated fraudsters. This year’s NextGen Nordics event at the Münchenbryggeriet in Stockholm, Sweden, on 29 April 2025, will spotlight how the industry is redefining fraud prevention in the era of instant payments. https://www.finextra.com/newsarticle/45802/revolut-fined-35-million-by-lithuanian-central-bank-for-aml-failings?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/45802/revolut-fined-35-million-by-lithuanian-central-bank-for-aml-failings?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 09 Apr 2025 09:31:00 GMT Revolut has been fined €3.5 million by the central bank of Lithuania for deficiencies in its anti-money laundering controls. https://www.finextra.com/newsarticle/45771/meet-the-minds-shaping-the-future-of-payments-at-nextgen-nordics?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/45771/meet-the-minds-shaping-the-future-of-payments-at-nextgen-nordics?utm_medium=rssfinextra&utm_source=finextrafeed Fri, 04 Apr 2025 09:17:00 GMT The rapidly evolving world of payments is being shaped by some of the brightest minds across industries, and this year’s NextGen Nordics event on 29 April 2025 at the Münchenbryggeriet in Stockholm, Sweden is set to be a pivotal moment in exploring how the sector is advancing. Attendees will have the rare opportunity to engage with leading figures driving innovation, digital transformation, and the future of financial services in the Nordic region. https://www.finextra.com/newsarticle/45753/top-5-challenges-facing-nordic-banks-in-2025---and-how-nextgen-nordics-can-help?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/45753/top-5-challenges-facing-nordic-banks-in-2025---and-how-nextgen-nordics-can-help?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 01 Apr 2025 12:42:00 GMT The Nordic banking sector, known for its advanced digital landscape and commitment to financial innovation, is experiencing a wave of new challenges in 2025. These challenges are largely driven by rapid technological advancements, stringent regulations, and the evolving demands of consumers. https://www.finextra.com/newsarticle/45735/vishing-fraud-up-79-in-2025--aib?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/45735/vishing-fraud-up-79-in-2025--aib?utm_medium=rssfinextra&utm_source=finextrafeed Fri, 28 Mar 2025 10:44:00 GMT In January and February 2025, AIB saw a sharp increase in reports of phone call fraud, with overall voice phishing, or vishing, increasing by 79% compared to the same two months in 2024. https://www.finextra.com/newsarticle/45698/appeals-court-rules-capital-one-hackers-sentence-was-too-light?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/45698/appeals-court-rules-capital-one-hackers-sentence-was-too-light?utm_medium=rssfinextra&utm_source=finextrafeed Mon, 24 Mar 2025 00:01:00 GMT A US appeals court has overruled the sentence given to the hacker behind the huge 2019 Capital One data breach, saying it was too lenient. https://www.finextra.com/newsarticle/45666/verification-of-payee-prepare-for-october-2025-deadlines-at-nextgen-nordics?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/45666/verification-of-payee-prepare-for-october-2025-deadlines-at-nextgen-nordics?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 18 Mar 2025 10:00:00 GMT In March 2025, the Eurosystem completed exploratory work for offering a Verification of Payee (VoP) service for payment service providers (PSPs) in SEPA, helping them comply with the EU’s Instant Payments Regulation across credit transfers in Euro. NextGen Nordics 2025 at the Münchenbryggeriet in Stockholm, Sweden, on 29 April 2025, will explore how VoP can reduce fraud and payment, and prepare for 5 October 2025, the effective date of the VOP scheme rulebook. https://www.finextra.com/newsarticle/45643/exciting-lineup-revealed-meet-the-first-10-speakers-for-nextgen-nordics?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/45643/exciting-lineup-revealed-meet-the-first-10-speakers-for-nextgen-nordics?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 12 Mar 2025 09:21:00 GMT The Nordic payments ecosystem is among the most innovative and forward-thinking in the world. As digital payments continue to evolve and transform the financial landscape, it is crucial to have experts who can guide and shape this transformation. The following individuals — confirmed speakers for NextGen Nordics 2025 at Münchenbryggeriet in Stockholm, Sweden, on 29 April 2025 —are recognised leaders in the Nordic payments industry, and their expertise makes them the best speakers on trends within this space. https://www.finextra.com/newsarticle/45631/us-consumer-fraud-losses-top-125bn-in-2024?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/45631/us-consumer-fraud-losses-top-125bn-in-2024?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 11 Mar 2025 00:01:00 GMT Americans reported losing more than $12.5 billion to fraud in 2024, a 25% increase over the previous year, according to Federal Trade Commission data. https://www.finextra.com/newsarticle/45619/87-encountered-ai-driven-cyberattacks-in-2024---sosafe?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/45619/87-encountered-ai-driven-cyberattacks-in-2024---sosafe?utm_medium=rssfinextra&utm_source=finextrafeed Fri, 07 Mar 2025 09:45:00 GMT SoSafe’s report explores the global tension between AI adoption and the associated security risks, highlighting the views of 500 global security professionals and 100 SoSafe customers across 10 countries. https://www.finextra.com/newsarticle/45610/cfit-publishes-digital-company-id-plan-to-slash-uk-fraud?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/45610/cfit-publishes-digital-company-id-plan-to-slash-uk-fraud?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 06 Mar 2025 08:00:00 GMT The Centre for Finance, Innovation and Technology (CFIT) has unveiled plans for a digital company ID that it says could help slash fraud and save British businesses billions of pounds every year. https://www.finextra.com/newsarticle/45582/cfpb-dismisses-capital-one-savings-account-rates-lawsuit?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/newsarticle/45582/cfpb-dismisses-capital-one-savings-account-rates-lawsuit?utm_medium=rssfinextra&utm_source=finextrafeed Fri, 28 Feb 2025 12:32:00 GMT Thursday marked The Consumer Financial Protection Bureau’s (CFPB) dismissal of their lawsuit initiated on 14 January 2025, suing Capital One, and its parent holding company, Capital One Financial Corp for cheating millions of consumers out of more than $2 billion in savings account interest. https://www.finextra.com/pressarticle/105170/amlyze-releases-aml-knwoledge-graph?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105170/amlyze-releases-aml-knwoledge-graph?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 10 Apr 2025 09:29:00 GMT Money laundering remains one of the biggest threats to the global economy, fueling organized crime, terrorism, corruption, and tax evasion. https://www.finextra.com/pressarticle/105154/first-aml-integrates-with-know-your-customer?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105154/first-aml-integrates-with-know-your-customer?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 09 Apr 2025 10:54:00 GMT First AML, a leading provider of an all-in-one anti-money laundering (AML) platform, has announced a strategic partnership with Know Your Customer, a global leader in business verification solutions. https://www.finextra.com/pressarticle/105102/brighter-consultancy-and-ntt-data-join-forces-to-fight-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105102/brighter-consultancy-and-ntt-data-join-forces-to-fight-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed Mon, 07 Apr 2025 11:26:00 GMT UK insurance companies, banks, and payment firms are to benefit from a new range of comprehensive anti-financial crime services, after professional services firm Brighter Consultancy and global leader in digital business and technology services NTT DATA UK&I announced a new partnership today. https://www.finextra.com/pressarticle/105063/nice-actimize-boosts-financial-crime-prevention-tech-with-agentic-ai?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105063/nice-actimize-boosts-financial-crime-prevention-tech-with-agentic-ai?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 02 Apr 2025 21:12:00 GMT Nice Actimize, a NICE (NASDAQ: NICE) business, today announced the availability of the next generation X-Sight ActOne which expands upon the robust and open architecture of X-Sight with Agentic AI capabilities that are foundational to transforming fraud and financial crime prevention programs. https://www.finextra.com/pressarticle/105011/750-billion-in-money-laundering-and-illicit-funds-flowed-through-europe-in-2024?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/105011/750-billion-in-money-laundering-and-illicit-funds-flowed-through-europe-in-2024?utm_medium=rssfinextra&utm_source=finextrafeed Mon, 31 Mar 2025 11:20:00 GMT Nasdaq Verafin has released its new report, Financial Crime Insights: Europe, that takes a deeper dive into the scale of financial crime across Europe. https://www.finextra.com/pressarticle/104994/tietoevry-and-fana-sparebank-partner-for-core-banking-cards-payments-and-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/104994/tietoevry-and-fana-sparebank-partner-for-core-banking-cards-payments-and-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed Fri, 28 Mar 2025 10:51:00 GMT Tietoevry Banking has entered into a strategic five-year agreement with Fana Sparebank to deliver a comprehensive suite of banking solutions. The partnership includes core banking systems, card and payment services, and advanced financial crime prevention tools. The new agreement, effective from April 1st, 2025, will also significantly enhance the bank’s mobile and self-service offerings – including self-service loan management. https://www.finextra.com/pressarticle/104976/creditinfo-combats-financial-crime-with-new-global-fraud-and-id-tech?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/104976/creditinfo-combats-financial-crime-with-new-global-fraud-and-id-tech?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 27 Mar 2025 09:34:00 GMT Creditinfo, a global service provider for credit information and risk management solutions, has today announced the launch of its global identity, know your customer (KYC), and fraud and ID solution, set to help organisations tackle financial crime. https://www.finextra.com/pressarticle/104922/vanquis-banking-group-chooses-finscan-for-aml-compliance?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/104922/vanquis-banking-group-chooses-finscan-for-aml-compliance?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 25 Mar 2025 09:18:00 GMT FinScan, an Innovative Systems solution and leading provider of advanced anti-money laundering (AML) compliance solutions, has signed UK-based Vanquis Banking Group plc, a leading FTSE All Share specialist bank, to further strengthen its AML processes and financial crime risk management. https://www.finextra.com/pressarticle/104869/pleo-adopts-taktile-to-enhance-fraud-detection-and-aml-capabilities?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/104869/pleo-adopts-taktile-to-enhance-fraud-detection-and-aml-capabilities?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 20 Mar 2025 10:09:00 GMT Pleo, the leading financial platform for businesses, has announced a strategic partnership with Taktile, a category-defining decision automation platform. https://www.finextra.com/pressarticle/104768/thistle-initiatives-releases-financial-crime-managed-services-offering?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/104768/thistle-initiatives-releases-financial-crime-managed-services-offering?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 13 Mar 2025 13:19:00 GMT Thistle Initiatives, the award-winning financial services compliance company, is launching a Financial Crime Managed Services offering, to help regulated companies navigate the challenges of financial crime compliance and thrive in a complex regulatory landscape. https://www.finextra.com/pressarticle/104670/finscan-improves-payment-screening?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/104670/finscan-improves-payment-screening?utm_medium=rssfinextra&utm_source=finextrafeed Mon, 10 Mar 2025 09:15:00 GMT FinScan, an Innovative Systems solution and leading provider of advanced anti-money laundering (AML) compliance solutions, has enhanced its payment screening solution, FinScan Payments, to amplify payments risk reviews, accelerate payment workflows, and seamlessly integrate with payment ecosystems to support faster, frictionless payment operations on a global scale. https://www.finextra.com/pressarticle/104648/strise-embeds-kyckrs-real-time-registry-data-into-aml-system?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/pressarticle/104648/strise-embeds-kyckrs-real-time-registry-data-into-aml-system?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 06 Mar 2025 10:23:00 GMT Strise, the leader in AML automation, has announced a strategic integration with Kyckr, a trusted provider of real-time registry data. https://www.finextra.com/videoarticle/3234/combating-cyber-threats-the-role-of-ai-partnerships-and-education?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3234/combating-cyber-threats-the-role-of-ai-partnerships-and-education?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 01 Apr 2025 10:00:00 GMT Joining the FinextraTV studio, Michele Centemero, EVP, Regional Services Lead, Mastercard, outlined the stark position the world is in when it comes to the cybersecurity threat we face. As technology increases, it becomes both the problem and the solution, Centemero discusses what the landscape currently looks like and how education and partnership are key to heading in the right direction. https://www.finextra.com/videoarticle/3225/higher-quality-consumer-experience--quicker-fraud-detection?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3225/higher-quality-consumer-experience--quicker-fraud-detection?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 02 Jan 2025 09:00:00 GMT There were a number of key takeaways at Finextra’s inaugural ‘NextGenAI’ event, but one that excited all, in particular, were the opportunities for fraud prevention. In this interview at the FinextraTV event studio, Stathis Onasoglou, Field CTO, Google discussed the statistics and real life use cases for GenAI across fraud prevention, efficiency and revenue generation. Onasoglou explains how as technology continues to develop, it increases our ability to detect fraud earlier and faster, as well as enhancing the customer experience. https://www.finextra.com/videoarticle/3192/how-can-ai-and-collaboration-combat-rising-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3192/how-can-ai-and-collaboration-combat-rising-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 23 Oct 2024 14:12:00 GMT In a conversation ahead of Sibos 2024, Laura Quevedo, Executive Vice President of Financial Crime and Resiliency at Mastercard, highlights the growing threat of financial scams in the digital age, with cybercriminals increasingly using AI to exploit consumers. Companies are stepping up their investments in cybersecurity and AI technology to stay ahead of evolving threats, as AI-powered tools like real-time fraud detection solutions become critical in preventing financial crime. Quevedo emphasises a three-pronged strategy: leveraging AI for fraud prevention, collaborating across industries to share insights, and educating consumers on emerging scams. https://www.finextra.com/videoarticle/3184/can-financial-institutions-keep-up-with-the-33-billion-fraud-surge?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3184/can-financial-institutions-keep-up-with-the-33-billion-fraud-surge?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 15 Oct 2024 09:00:00 GMT Reflecting on insights from last month’s Visa Payments Forum, Tareq Muhmood, SVP, Value Added Services, Europe, Visa, addresses the dramatic rise in global fraud—from $800 million in the early '90s to $33 billion in 2023. As financial institutions grapple with the increasing complexity of fraud in the digital age, the need for adopting advanced technologies like AI and real-time data analysis becomes clear. With a 50% boost in fraud detection through artificial intelligence, this interview underscores the urgency for banks and fintechs to evolve their security strategies. As fraud tactics continue to evolve, partnerships and continuous innovation are now critical for staying ahead of threats while maintaining seamless payment experiences. https://www.finextra.com/videoarticle/3176/fighting-fraud-with-form3-the-importance-of-focusing-on-customer-experience?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3176/fighting-fraud-with-form3-the-importance-of-focusing-on-customer-experience?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 24 Sep 2024 09:40:00 GMT In the final installment of this 3 Part series, FinextraTV and Nick Fleetwood, Head of Data Services, Form3, discusses how fraud prevention is all about customer experience. Consumers are accustomed to payments flowing in real-time and funds reaching their destination in seconds. However, when customer are notified about a potential fraudulent attempt, this in itself is a negative user experience. As a result, banks must ensure they are using insights to understand the level of trust - how trusted the sender is, how trusted the receiver is, and how trusted the relationship between them is - before sending a fraud alert. Further, suspicion can also be a valuable tool in any bank's toolkit: by analysing behavioural characteristics of the payment, coersion can be detected and aligned with how fraud has been recorded in the past, prioritising customer experience. https://www.finextra.com/videoarticle/3177/fighting-fraud-with-form3-the-importance-of-inbound-transaction-screening?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3177/fighting-fraud-with-form3-the-importance-of-inbound-transaction-screening?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 17 Sep 2024 10:00:00 GMT In Part 2 of this series, FinextraTV and Chris Oakley, Head of Fraud, Form3, highlights an upcoming substantial shift in the sector where due to incoming regulations from the PSR in the UK and PSD3 across the European Union, banks will have to double down on their focus on the risk associated with receiving a payment, not only sending a payment as has been the case historically. With current fraud screening methods built for outbound payments, after these regulations are mandated, receiving banks and sending banks will be forced to split liability for fraud and reimburse victims due to the PSR. This dichotomy must also lead to changes in the way that money mules are detected, which is usually also conducted retrospectively - where this convergence of fraud mitigation and anti-money laundering happens, risks need to be managed in real-time and a wider single view of the customer will be of paramount importance. https://www.finextra.com/videoarticle/3175/fighting-fraud-with-form3-the-importance-of-collaborative-intelligence?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3175/fighting-fraud-with-form3-the-importance-of-collaborative-intelligence?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 10 Sep 2024 12:00:00 GMT In Part 1 of this series, FinextraTV and Chris Oakley, Head of Fraud, Form3, points out why banks remain hesitant to share data, explores the misconceptions around regulations such as GDPR, and where levels of fraud would be if the standard was named GDSR, focusing on data sharing. While many financial institutions continue to be concerned about whether they are breaching rules and obligations, in certain situations, the fact that sharing data for fraud prevention can be useful and is a legitimate reason, is lost. To avoid this vicious circle, banks must take advantage of collaborative intelligence to mitigate rising financial crime cases such as APP fraud scams and share data where insights and intelligence can be exchanged between organisations in a secure environment, building a collaborative view. https://www.finextra.com/videoarticle/3178/the-intersection-of-wildlife-trafficking-and-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3178/the-intersection-of-wildlife-trafficking-and-financial-crime?utm_medium=rssfinextra&utm_source=finextrafeed Mon, 05 Aug 2024 10:20:00 GMT FinextraTV, Julia Thorn, Senior Marketing Manager, Financial Crime Compliance, LexisNexis® Risk Solutions and Robert Campbell, Programme Director of United for Wildlife, The Royal Foundation of The Prince and Princess of Wales, dive deep into their recently released report on how wildlife trafficking can be combatted with the power of collaboration. Exploring the objectives of the report, the pair doubled down on the importance of enforcement data and how this data can be used for good by looking for patterns that are more relevant to financial institutions than first thought. Further, financial institutions must consider wildlife trafficking as organised crime and as the money involved cannot be hidden under the bed - it moves through commercial entities such as airports and shipping ports - this form of money laundering must be mitigated. https://www.finextra.com/videoarticle/3174/why-traditional-ai-should-be-used-alongside-generative-ai-for-fraud-prevention?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3174/why-traditional-ai-should-be-used-alongside-generative-ai-for-fraud-prevention?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 01 Aug 2024 10:31:00 GMT At EBAday 2024, Marc Corbalan, Vice President, A2A Risk Solutions, Visa, explores fraud detection advances and strategies. Generative AI is truly revolutionary and outperforms traditional AI when it comes to analysing text, voice, and imagery, namely describing when transactions are risky. However, Generative AI struggles with numerical data that includes patterns, which is what fraud analysts using search for. This is why traditional AI must be used alongside Generative AI. https://www.finextra.com/videoarticle/3168/what-changes-lie-ahead-for-the-future-of-real-time-payments?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3168/what-changes-lie-ahead-for-the-future-of-real-time-payments?utm_medium=rssfinextra&utm_source=finextrafeed Wed, 17 Jul 2024 13:50:00 GMT At EBAday 2024, Paul Francis Walvik-Joynt, Senior Vice President, Real Time Payments, Mastercard, shares an outline of what changes lie ahead for real-time payments and what the proliferation of real-time payments means for the adoption of instant payments. It is evident that trust needs to be maintained as the industry grows and introduces new networks, ensuring organisations are remaining resilient and fraud is combatted. Further, with the advent of new real-time payments systems, opportunities are opening up for domestic and global payments, and for technologies such as AI to be leveraged. https://www.finextra.com/videoarticle/3167/the-global-approach-to-solving-payee-verification-challenges?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3167/the-global-approach-to-solving-payee-verification-challenges?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 16 Jul 2024 11:51:00 GMT Albert Sitelis, Head of Partnerships & Market Development at Banfico, discusses the hurdles of meeting the IP regulation compliance deadline for payee verification at EBAday 2024. With over 5000 PSPs in Europe, connectivity remains a major challenge, despite existing name check systems in several countries. Sitelis stresses collaboration among schemes, technical providers, and banks as crucial, and advocates for broader industry involvement beyond banks to combat APP fraud globally, suggesting the need for enhanced data analysis beyond name matching. https://www.finextra.com/videoarticle/3151/verification-of-payee-why-pan-european-cooperation-matters?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3151/verification-of-payee-why-pan-european-cooperation-matters?utm_medium=rssfinextra&utm_source=finextrafeed Mon, 08 Jul 2024 15:37:00 GMT At EBAday 2024, Hays Littlejohn, CEO, EBA Clearing and Erwin Kulk, Head of Service Development and Management, EBA Clearing, explain how network-based fraud pattern and anomaly detection can boost the customer experience and safety provided by verification of payee checks. The pair exposes the added value that EBA Clearing’s pan-European verification of payee solution will bring as from its launch in December 2024. Cooperation on fraud mitigation was one of the biggest topics at EBAday and this practical example of a collectively designed and delivered toolset makes it clear why joining forces against fraud matters. https://www.finextra.com/videoarticle/3118/using-process-automation-to-remain-resilient-across-3lod?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/videoarticle/3118/using-process-automation-to-remain-resilient-across-3lod?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 20 Jun 2024 11:30:00 GMT FinextraTV and Guy Mettrick, Industry Vice President - Financial Services, Appian, explore how the technology landscape has changed over the past decade and how technology has become a facilitator for operational resilience. Further, with new forms of AI emerging, operational resilience should also be considered, but must not get in the way of innovation. The way forward is process automation and ensuring that technology can be used to mitigate fraud, financial crime, and risk management across the three lines of defence. https://www.finextra.com/event-info/553/ai-in-the-wrong-hands-exploring-modern-cybersecurity-concerns?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/event-info/553/ai-in-the-wrong-hands-exploring-modern-cybersecurity-concerns?utm_medium=rssfinextra&utm_source=finextrafeed Tue, 20 May 2025 15:00:00 GMT How can financial institutions develop advanced, resistant AI strategies to stay one step ahead of cybercriminals? https://www.finextra.com/blogposting/28264/the-future-of-credit-data-will-ai-reduce-bureau-dependency?utm_medium=rssfinextra&utm_source=finextrafeed https://www.finextra.com/blogposting/28264/the-future-of-credit-data-will-ai-reduce-bureau-dependency?utm_medium=rssfinextra&utm_source=finextrafeed Thu, 10 Apr 2025 14:51:37 GMT Lenders have traditionally turned to credit bureau data to assess affordability and risk—but that re... https://www.finextra.com/banners/banner.aspx?opt=ad&baid=7698 https://www.finextra.com/banners/banner.aspx?opt=ad&baid=7698 Wed, 26 Mar 2025 00:00:00 GMT [New Industry Survey Report] US Regulation Survey 2025: Compliance at a Crossroads