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AI Becomes the Banker: 21 Case Studies Transforming Digital Banking CX

Finextra

Fraud-fighting models double detection rates, block over $350 million in attempted theft for the case and slice scam losses by up to 50 percent, with one bank saving 17 percent more funds for clients and processing 250,000 security queries each month. Impact: This proactive detection prevents fraud before customers even realize an issue.

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Payment Processing USA: 2024 Market Overview

Clearly Payments

Credit card sales volume in the USA by year from 2018 to 2023 Year Credit Card Transaction Volume (USD) 2018 $3.7 As consumers increasingly turn to online shopping and mobile payments, this segment is expected to experience steady growth, driven by the convenience and accessibility of digital payment methods. trillion 2019 $4.0

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Income Insurance Explores Share Liquidity Options After Allianz Deal Falls Through

Fintech News

The move follows the Singapore government’s decision in October 2024 to block the Allianz deal , after the Ministry of Culture, Community and Youth (MCCY) raised concerns that the transaction could affect the insurer’s ability to meet its social objectives.

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Report: Fraudsters Have Modified Approaches In Wake Of eCommerce Boom

PYMNTS

“Cybercriminals are well aware that merchants are setting higher thresholds for blocking transactions, which is a major flaw of rules-based fraud prevention strategies.”. He said rules-based systems often fail to find high-dollar fraudulent transactions, but do often block legitimate transactions along the way.

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Retail’s Staffing Stumbling Block

PYMNTS

On the upside, it is less than the 56,526 jobs cut in the retail segment during the same quarter in 2018. All in, 2018 saw 98,563 retail job cuts , the highest total since 2009, according to the outplacement firm Challenger, Gray and Christmas. On the downside, that is more cuts than any other sector.

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Kaspersky Lab: Mobile Malware Attacks Doubled In 2018

PYMNTS

million in 2018, according to a press release from the company. In 2018, the number of mobile users who interacted with malware went up 774,000, reaching 9,895,774. In 2018, mobile device users faced what could have been the fiercest cybercriminal onslaught ever seen,” said Vi?tor million in 2017 to 116.5

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JPMorgan Ups Security By Blocking FinTechs From Passwords 

PYMNTS

The downside of data sharing has come full circle as JPMorgan Chase strives for enhanced protection by blocking FinTech apps from accessing customers’ passwords, The Financial Times (FT) reported on Tuesday (Jan. Data security is an issue with far-reaching consequences.

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