Stan Cowan
Customized Machine Learning: The secret sauce of world-class risk stacks In today's world, the most successful companies work data-driven. The data science and machine learning (ML) advancements over the past ten years are truly remarkable. With breakthroughs in complex statistics and deep learning, companies have more tools and data today than ev...
28 October 2022 /identity /crime Artificial Intelligence and Financial Services
Generally, when you talk to a team who handles fraud at financial institutions, fintechs, or other similar organizations, one of their biggest goals is to reduce the overall number of suspicious events that require a human in the loop to manually review an application, transaction, or newly onboarded account. With today’s modern automatic decisio...
14 October 2022 /identity /crime Artificial Intelligence and Financial Services
We’re now entering a new age of digitalization. Simply providing banking consumers with digital access to accounts and services is no longer enough to remain competitive, retain account holders or improve cross-sell ratios. Financial institutions (FIs) must do all of this quickly, accurately and seamlessly end-to-end. In other words, experience is...
12 October 2022 /retail /crime Financial Risk Management
Economic downturns and an increase in fraud go hand in hand. It happened during the great recession in the 1920s, in 2008, and during the COVID crisis starting in 2020. You don’t have to be clairvoyant to predict if it will happen again in the next few years, during another recession. During the last few weeks, a gloomy outlook started to emerge o...
11 October 2022 /markets /predictions Financial Risk Management
Digital change happens at the speed of light, and fraudsters move nearly as quickly to exploit vulnerabilities and gaps in fraud prevention capabilities. Financial institutions cannot afford to leave protection up to chance. Consumer demand for digital-everything has been steadily rising for years but has sped up since the height of the pandemic. S...
10 October 2022 /identity /crime Artificial Intelligence and Financial Services
The battle against fraud in this evolving digital world is never-ending.There’s this so-called “squeezing a balloon effect” in the area of fraud among financial institutions — and credit unions are no exception. In the global landscape, financial institutions including credit unions should expect the unexpected. The battle against fraud in this ev...
07 October 2022 /identity /crime Financial Risk Management
Today’s financial landscape has been fraught with numerous issues such as data breaches, cyberattacks, identity theft, and credit card fraud. Experts believe that these issues contribute to fraudulent transactions and, if not mitigated, will lead to customer churn and further business loss. According to a Carnegie Mellon University study, customer...
06 October 2022 /identity /crime Digital Banking Trends
While identity theft has been in the modern lexicon for decades, a newer, more insidious and faster-growing variant of identity fraud is taking hold in the U.S.—and it’s costing U.S. financial institutions billions of dollars and keeping fraud executives awake at night. Unlike traditional identity theft where an unwitting victim’s financial identi...
05 October 2022 /security /crime Financial Risk Management
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