Big Data

Online Account Opening: How Credit Unions Can Outcompete Big Banks

Credit unions have gained popularity in recent years among consumers looking to minimize fees, earn higher interest rates and receive more personalized customer service. In a recent survey conducted by the Aite Group, credit unions surpassed other types of financial institutions in the overall ease

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The Antidote to Financial Data Breaches

In February 2016, Wendy’s reported a potentially massive data breach across hundreds of restaurants in its network of 6,500 locations. It turned out that the point-of-sale systems for over 1,000 franchisee locations in its network were infected by a malware since the fall of 2015, the extent of

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5 Ways For Financial Institutions To Stop Account Takeover Fraud

Account takeovers are a constant danger that carry serious consequences for financial institutions. As a Javelin study noted, identity fraud resulted in $112 billion in losses for consumers between 2009 and 2015. A large volume of compromised accounts can mean substantial rewards for criminals. Consequently,

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14 Things Banks Should Look For In A Decision Engine Optimized For Digital Transformation

By Jon Pearson, Sales Director, Transformational Digital Journeys, Banking @ Feedzai Customer behavior is changing and challenger banks are emerging. Friction and abandonment are now avoidable as increased application acceptance becomes the focus. What should an established Tier 1 bank do to get on the

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Why Marketplaces Should Think Twice Before Hiring A Machine Learning Team

Users of marketplace platforms such as Uber, Kickstarter and Airbnb stay on the platform because they trust the platform. These marketplaces are also targets for fraudsters whose actions erode trust and cause user attrition that is difficult to reverse. To maintain the user base, marketplaces

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The End of Massive Fraud Attacks

  In little more than two hours on the morning of May 15, 2016, criminals in Japan stole 1.4 Billion yen ($13 million in U.S. dollars). They accomplished this feat by targeting ATMs in 7-Eleven convenience stores and making an estimated 14,000 withdrawals. The fraudsters

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How Well Do You Know Your Customer?

The digital revolution has paved newer ways for consumers to interact and transact within the commerce ecosystem. The transformation has not only redefined the shopping experience at traditional brick and mortar retail merchants like Macy’s, who offer virtual fitting room for online shoppers, but also led to the

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How Machine Learning Is Setting ‘Payments On Fire’

Feedzai chairman and CEO Nuno Sebastiao spoke to the “Payments on Fire” podcast about how the Feedzai solution puts machine learning and big data to work by managing fraud and risk.

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The Curious Case of The Artificial Intelligence Accused of Cheating

By Jon Pearson, Sales Director, Transformational Digital Journeys, Banking @ Feedzai Remember Deep Blue? This marvel of modern technology (back in 1996, at least) beat chess world champion Garry Kasparov in the first game of a six game match, although it lost the match, 4-2.

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Behavior Is The New Identity – Artificial Intelligence Sees Who You Really Are

Mobile commerce is growing at an astounding rate. IDC predicts that mobile payments will account for $1 trillion USD in 2017, a massive 124% jump from less than $500 billion USD in 2015. Most major commercial banks now also offer some sort of mobile banking

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