Stop waiting to apply AI for financial crime

Challenges from financial crime incidents and penalties grow Criminal enterprises are becoming increasingly sophisticated at the same time as new payment methods are emerging (peer to peer and faster/immediate payments) and transaction volumes are exploding. And financial institutions across the globe are feeling the pain of high-profile financial crime incidents in the form of significant […]

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Again, IBM in the “Leaders” quadrant of 2019 Gartner Magic Quadrant for IRM

An innovative solution for IRM, recognized by analysts Security and risk management professionals within financial organizations can be overwhelmed with the rising cost and pressure of regulatory change management and mitigating associated risks. What they are actually looking for is a solution that supports an integrated approach to risk management. It’s a proud moment for […]

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IBM in “Leaders” Quadrant of 2019 Gartner Magic Quadrant for IT Risk Management, fourth report in a row

Our goal has always been to provide our customers with the tools and insights that help them meet their governance, risk and compliance (GRC) needs, and we do so, by leveraging the innovation of IBM within a single ecosystem. It’s gratifying to see IBM once again positioned in the Leaders Quadrant of the 2019 Gartner […]

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What customer complaints can tell you about your experience (and your compliance)

Until recently, the words “customer experience” and “compliance” didn’t really come up in the same conversation – let alone exist in the same universe. The former was the domain of customer care professionals, contact center managers, marketing leaders and digital strategy teams with the goal of helping streamline and simplify products and services, as well […]

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Why real cross-channel payment data integration matters

According to the 2019 AFP Payments Fraud & Control Survey, Automatic Clearing House (ACH) payment fraud increased significantly in 2018, reaching a new record with 82% of organizations reported incidents. Specifically, the percentage of companies that encountered ACH credit fraud jumped to 20% (from 13%), and those who experienced ACH debit fraud rose to 33% […]

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IBM named “Financial Crime Product of the Year” and “Best Vendor for Innovation”

While there is no prize for stopping financial crime (though, arguably there should be), occasionally there is recognition for being an integral and pioneering part of the overall financial crime management effort. Today, IBM has received recognition by Risk.net for both “Financial Crime Product of the Year” for IBM Safer Payments as well as “Best […]

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A new era of technology enabled financial risk management

In this series of blogs, we will focus on four transformative technologies with emerging risk applications that can help banks and financial institutions grow profitability and protect the enterprise. Each technology is at the start of an enormous adoption growth curve, and has been the subject of intense discussion. In this edition, read how these […]

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Beware of data “science projects” turned fraud prevention solutions

As e-commerce has revolutionized the way we buy and sell online, we are no longer bounded by borders or time zones. Goods can be purchased from anywhere around the world at any time of day. Because of this, traditional rules-based fraud detection systems have become outdated and no longer work. Today, real-time payments require real-time […]

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BNZ protects customers (and the customer experience) with IBM Safer Payments

Bank of New Zealand (BNZ), one of the leading banks in ANZ, announced late last year that they have selected IBM Safer Payments to deliver cross-channel fraud protection to its customers. The multi-million-dollar deal supports BNZ’s efforts to provide frictionless and safer payments experience to their customers. Growing fraud requires new approach Many conveniences that […]

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Embracing the future of fraud prevention in the multi-(cloud) verse

Riddle me this? What do a large Australian bank, a leading U.S. financial payment solutions provider, and a major New Zealand bank all have in common? They all have recently deployed or will soon be deploying the IBM Safer Payments fraud prevention solution on their preferred cloud infrastructure – IBM Cloud, Amazon Web Services (AWS) […]

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Stemming the AML compliance crisis

When it comes to AML compliance, or the lack thereof, the financial industry is having rough year. A number of money laundering schemes have come to light, including the $8.8 billion Troika Laundromat, which have exposed or implicated a large swathe of the industry. Despite wide talk of deregulation, penalties from Office of Foreign Assets […]

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