By analyzing the behavior of staff, customer and the transaction itself, banks can spot and stop not only known fraud types but also new frauds, writes Joël Winteregg It takes on average 16 months to detect a fraud perpetrated by a member of staff. The average loss per case is $130,000. More than one-in-five involve […]
Internal fraud casts a long shadow over banks across Africa. With the Covid-19 crisis and home office policies, the situation will not get any better. NetGuardians’ fraud-mitigation software allows banks to shine a light on it, not only spotting and stopping instances of fraud but also acting as a deterrent, WRITE BERNARD RONO AND JONATHAN […]
NetGuardians’ state-of-the-art fraud mitigation solution not only accurately analyzes the risk of every bank transaction but also makes fraud reporting simple, helping banks meet the key fraud requirements of PSD2, writes Sandy Lavorel Banks across Europe have less than a couple of months left to prepare for the second Payment Services Directive (PSD2), which comes […]
AI fraud-mitigation solutions often focus on a few types of fraud and become incapable of spotting new ones – known as ‘overfitting’. Banks need far more instances of fraud than a single bank can possibly supply to avoid this problem. JOËL WINTEREGG says the answer lies in collaboration and the human touch Artificial intelligence in banking has […]
The new virtual banks about to set up shop in Hong Kong need machine-learning technology to protect them, their customers and the regulator from the ever-changing threats posed by cyber-fraud. We are just weeks away from seeing the Hong Kong Monetary Authority (HKMA) issue the first licenses for virtual banks in the territory. These banks […]
With pre-configured adaptors and software, NetGuardians’ fraud-mitigation software could not be easier to implement, allowing banks to prevent more fraud within weeks of signing up, writes Michaël Gingins It takes just a few weeks to install NetGuardians’ fraud mitigation software, upgrading a bank’s protection to best in class not just for now but well into […]
A combination of powerful technologies ensures NetGuardians’ Vyntra|Screener data analytics risk platform can detect and prevent fraud in real time at the volumes required by financial institutions. Jerome Kehrli explains Catching fraudsters in the act of stealing money from bank accounts is a split-second business. A one-second delay and the money has gone. Real-time monitoring, […]
