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Blockchain analysis firm Chainalysis has acquired Alterya , an AI-based frauddetection platform focused on identifying scams before they impact victims. Frauddetection faces new challenges with advanced technologies like generative AI enabling more complex scams.
Visa has finalised its acquisition of Featurespace, a company specialising in real-time artificial intelligence technology for payment protection. The acquisition is expected to bolster Visa s fraud protection capabilities and enhance security for its customers worldwide.
Swift, the global financial messaging service provider, is collaborating with Google Cloud to develop innovative anti-fraudtechnologies. The partnership will leverage advanced AI and federated learning techniques combined with privacy-enhancing technologies (PETs) and Trusted Execution Environments (TEEs).
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LexisNexis Risk Solutions, a global data and analytics company under RELX, has agreed to acquire IDVerse , a provider of AI-powered document authentication and frauddetection solutions. This move will enable LexisNexis Risk Solutions to further enhance its capabilities in combating AI-generated fraud, including deepfakes.
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The dual impact of generative AI on payment security, highlighting its potential to enhance frauddetection while posing significant data privacy risks. It underscores the need for payment firms to balance AI innovation with robust privacy and regulatory compliance to protect sensitive consumer data. Why is it important?
As digital payments evolve, AI is reshaping fraud prevention with real-time insights, adaptive controls, and improved security across financial systems. Unfortunately, older frauddetection methods often cant keep up with todays fast-moving threats. Theres also the challenge of fitting AI into legacy systems.
Technology and innovations advanced in leaps and bounds in 2023, including enhancements to AI, the introduction of generative AI and investment in data analytics.
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HPS , a leading global provider of payment software and solutions, and Enigma , a global leader in artificial intelligence enabled entity resolution and decision-making, today announced a strategic collaboration to deliver cutting-edge AIfrauddetection models to businesses worldwide.
Payment giant Visa is set to acquire Featurespace, a company specialising in artificial intelligence (AI) technology for real-time payments fraud protection. Founded in 2008 at Cambridge University, Featurespace has developed AI-driven algorithms that can detect complex fraud patterns in transaction data.
To better combat fraud in cross-border payments, Swift, the global provider of secure financial messaging services, is working with Google Cloud to develop anti-fraudtechnologies that use advanced AI and federated learning. As such, we are ideally placed to lead collaborative, industry-wide efforts to fight fraud.
Swift, the global financial messaging network, is launching a new AI-powered service to help banks fight financial crime. The initiative is part of Swift’s broader efforts to use AI to improve the security of cross-border payments. Swift is also testing frauddetection use cases in a sandbox environment.
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A couple of years after its initial boom, artificial intelligence (AI) still remains a huge buzzword in the fintech industry, as every firm looks at a new way of integrating the tech into its infrastructure to gain a competitive edge. While some are more successful than others, one indisputable success has been AI.
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A roundtable discussion among merchants addressing the evolving challenges of fraud in their operations across various sectors. It highlights the necessity of advanced frauddetection and greater industry collaboration. Improving regulations, using technology for detection, and fostering industry-wide cooperation.
We’re excited to share that Lynx has won the Anti-Fraud Solution of the Year award at the 2025 FSTech Awards, a celebration of financial services innovation in the UK and EMEA. Financial institutions (FIs) grapple with complex, interconnected fraud and financial crime challenges. The results are clear.
A couple of years after its initial boom, artificial intelligence (AI) still remains a huge buzzword in the fintech industry, as every firm looks at a new way of integrating the tech into its infrastructure to gain a competitive edge. “The solution isn’t to use AI less, but rather to test it more rigorously. .
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AI-powered anti-money laundering (AML) company Hawk has raised $56 million in Series C funding. Hawk , a company offering AI-powered anti-money laundering (AML), screening, and fraud prevention solutions, has secured $56 million in Series C funding. “AI is in our DNA at Hawk,” Schweiger said.
Payments Report 2024 As the global payments ecosystem undergoes a period of rapid transformation, the Payments Report 2024 serves as an essential resource for industry leaders navigating shifting trends, emerging technologies, and dynamic consumer behaviour.
Mastercard has adopted generative artificial intelligence (AI) techniques to strengthen security measures for consumers and the broader payments network. The introduction of generative AItechnology marks a major step up, enabling the analysis of over one trillion data points to predict the authenticity of transactions.
Sionic , a leading provider of real-time, Pay-by-Bank Commerce (PbBC) services, today announced the launch of its comprehensive frauddetection and mitigation service built exclusively for real-time, bank-to-bank payments at checkouts, whether online, mobile or in-store.
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