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As reported at Mobil App Daily, competition in the banking industry is fierce and at a consistently high level — a good situation for consumers, and an ongoing challenge for the banks themselves. They want to dramatically improve the experience their consumers receive from their optimized digital banking services by utilizing the next-generation banking platform.…
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Check alterations by employees can be an issue City government employees sometimes alter checks to pay themselves They are usually small amounts and therefor rarely attract attention Over the past year, most of the media coverage has spotlighted post office insider check fraud — where a postal employee is responsible or part of scheme to…
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Check fraud is surging, particularly in business transactions Check fraud has a reputation as a low- or no-tech scam Scammers are “graduating” to high-tech strategies Abrigo’s new and informative downloadable PDF, Check Fraud: New Tech Driving Old School Scam by Kate Stoneburner, is a succinct look at the ways in which modern scammers are deploying…
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PYMNTS talked to Manish Jaiswal, chief product and technology officer at Corcentric, about the ways AI technology can and will improve business payments by making them faster and — most importantly — safer. Source: PYMNTS.com “Real-time payments processing is becoming a reality in B2B,” Mr. Jaiswal noted. Still, there are challenges to address. Most companies, no matter the…
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Introducing the “Threat Actor” Threat Actors respond to news trends and resultant anxiety The fall of Silicon Valley Bank is the newest boon for Threat Actors The Cloudflare Blog takes a look at the activities of a specific category of fraudster, the Threat Actor, in relationship to news events like the collapse and takeover by the…
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Aite-Novarica Group fraud executives at Aite-Novarica Group’s 2022 Financial Crime Forum Check fraud and scams are growing disproportionately to other forms of fraud In spite of check fraud growth, some banks remainl hesitant to invest in anti-fraud technology Aite-Novarica Group’s expert, Trace Fooshée, shares their research to help fortify fraud platforms via Fraud Trends for…
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ChatGPT, the artificial-intelligence chatbot, has been making news on a regular basis for its growing list of applications in business and entertainment. We recently highlighted the possible impact ChatGPT may have on the banking industry. So, it was only a matter of time before it emerged in the payments field. Via Digital Transactions, we learn…
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Mobile remote deposit capture, or mRDC, is wildly popular among banking consumers – and why not? Upon receipt of a paper check, rather than having to travel to a local bank branch to deposit the money into an account, today’s bank consumer has only to sign the check and use their smartphone to photograph it…
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Checks contain many “exposure components” Fraudsters can use one of more of these components to instigate theft Banks that deploy image forensic AI tech can greatly reduce these fraud opportunities Stolen checks continue to be one of the major events covered in today’s media — specifically when it comes to assaults and robberies against mail…
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If you haven’t heard of it already, OpenAI’s ChatGPT is an artificial intelligence-powered text tool capable of providing cogent answers in seconds to just about any question you throw its way. It is viewed with a mixture of awe and apprehension. Despite the unease, ChatGPT is acquiring new users faster than any of the most popular consumer…
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