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Understanding PCI DSS, PSD2, and AML in Payment Processing: A Practical Guide

Finextra

That’s where PCI DSS, PSDS2, and AML come in. Non-compliance, on the other hand, can lead to data breaches and legal troubles. PCI DSS: Safeguarding cardholder data If you handle card payments, PCI DSS compliance is non-negotiable. Why PSDS2 is important for banks PSD2 drives innovation. You know this already.

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Using AI and Machine Learning to Improve AML

FICO

When the sheer computing power of AI meets the transactional complexity of AML, good things happen. To tackle this menace, regulators have slapped fines on banks who fail to stop money laundering. It’s not that banks haven’t put in controls to tackle this menace. Finding a Needle in a Haystack.

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AI Meets AML: How Smart Analytics Fight Money Laundering

FICO

One of the places where AI can make a huge difference today is in anti-money laundering (AML). FICO has incorporated AI technology in our FICO® TONBELLER® AML solutions ; FICO’s Chief Analytics Officer, Dr. Scott Zoldi , recently articulated a number of AI’s important benefits to customers attending the FICO TONBELLER User Group.

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AI Meets AML: How the Analytics Work

FICO

For instance, Aite Group LLC in its 2015 report Global AML Vendor Evaluation noted that “increasingly, regulators recognize that rules alone are not an effective manner of detection and are pressuring banks to include more sophisticated analytics.” AML Threat Score: Using machine learning to detect and rank-order suspected AML cases.

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FICO’s New AML Scores Use AI and Machine Learning to Detect More Money Laundering

FICO

FICO’s New AML Scores Use AI and Machine Learning to Detect More Money Laundering. New AML scores reduce false positive alerts by 50% while detecting 100% of known money laundering transactions, and discover new aberrant, potentially risky behaviors. AML Threat Score: Reducing False Positives Amid Defensive SAR Filings.

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Top 5 Fraud & Security Posts: AI Meets AML (and Hackers)

FICO

Here were the top 5 posts of 2017 in the Fraud & Security category: AI Meets AML: How the Analytics Work. AI Meets AML: How Smart Analytics Fight Money Laundering. Powerful customer segmentation: “Traditional AML solutions resort to hard segmentation of customers based on the KYC data or sequence of behavior patterns.

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Taiwan’s Fintech Push: Harnessing Innovation and Expanding Global Ties

The Fintech Times

Taiwan, along with South Korea, Hong Kong SAR, and Singapore, forms the group known as the ‘Four Asian Tigers,’ renowned for their rapid industrialisation since the 1960s. Additionally, nearly 80 per cent of these banks utilise blockchain technology, particularly for certifying letters of credit.