The Payments Association

JUNE 16, 2025

While this is a clear improvement in redress efficiency, some institutions have expressed concern that the emphasis on speed may come at the expense of fraud detection rigour, particularly in borderline or high-value claims. These will likely be reviewed to improve transparency and consistency.

Scams

The Fintech Times

MAY 28, 2025

For Temenos, AI is becoming a practical tool across fraud detection, exception handling and operational support. Payments is probably more impacted by regulation than most other areas, he said, pointing to changes around instant payments, timestamping and verification of payee in Europe, as well as the SWIFT MT/MX transition.

Compliance

Fintech Finance

MARCH 4, 2025

However, regulators have been expanding accountability beyond financial institutions to the digital channels used in fraud scams, such as telecommunications and social media. An AI Arms Race The emergence of AI has added a new dimension to this battle, with both scammers and fraud prevention efforts leveraging advanced technologies.

Fraud Prevention

Fintech Finance

SEPTEMBER 18, 2024

Paynetics , a leading provider of embedded finance services, partners tell.money to implement the Confirmation of Payee (CoP) service. This seamless integration enables greater control over fraud detection, ensuring secure and reliable transactions with minimal effort.

Payee

Fintech Finance

MAY 29, 2024

Form3 , the cloud-native account-to-account platform, today announces that Currencycloud , a Visa solution focusing on simplifying business in a multi-currency world, has selected them to provide account verification technology to support Confirmation of Payee (CoP) activity, designed to reduce fraud in the UK.

Fraud Detection

Fintech Finance

AUGUST 15, 2024

Sionic , a leading provider of real-time, Pay-by-Bank Commerce (PbBC) services, today announced the launch of its comprehensive fraud detection and mitigation service built exclusively for real-time, bank-to-bank payments at checkouts, whether online, mobile or in-store.

AI

Fintech Finance

OCTOBER 23, 2024

Compliance with sanction screening, anti-money laundering (AML) and fraud detection requirements, including Verification of Payee check, was identified as the top concern. Banks show similar alignment in their approach to sanction screening and fraud detection.

Instant Payments

Fi911

MAY 22, 2024

This process can be triggered for various reasons, such as a disputed charge, an error in the transaction, or fraud detection. When a payment reversal occurs, the transaction is effectively undone, meaning that the payee loses the funds that were initially transferred, and the payer regains their money. What is a Refund?

Payer

Fintech Finance

APRIL 4, 2024

iPiD , a leading payment validation solutions provider, today announced the publication of a pivotal whitepaper, “Verification of Payee: The Race to Compliance,” authored by CEO Damien Dugauquier. The paper is now available on the iPiD website at www.ipid.tech/verification-of-payee-the-race-to-compliance.

Payee

PYMNTS

AUGUST 21, 2020

The security of person-to-person transactions is also constantly under threat, driving six of the United Kingdom’s largest banking groups — Barclays Group , HSBC Group , Lloyds Banking Group , Nationwide Building Society , RBS Group and Santander Group — to adopt a new system called Confirmation of Payee. About The Tracker.

Blocks

The Fintech Times

OCTOBER 24, 2024

Compliance with sanction screening, anti-money laundering ( AML ) and fraud detection requirements, including Verification of Payee checks, was identified as the top concern. Tackling growing levels of fraud Banks show similar alignment in their approach to sanction screening and fraud detection.

Instant Payments

Fintech Finance

SEPTEMBER 9, 2024

” Larger commercial businesses report a higher rate of payment fraud than small businesses. It requires a multifaceted approach that leverages technology, system innovations, evolving regulations and education through continued industry collaboration,” said Donna Kinoshita, Chief Payments Officer at Payments Canada.

Online and Mobile Banking

FICO

SEPTEMBER 21, 2016

The technique enables the model to capture habits of both payer and payee from different dimensions. As shown above, the behavior-sorted lists feature effectively reduces false positives and enhances fraud detection. Most recently, we launched our Retail Banking Deposit Fraud models for deposits.

Payer

Neopay

NOVEMBER 26, 2024

Key concerns include sanction screening, anti-money laundering (AML) requirements, fraud detection, and the Verification of Payee protocols. However, 41% of surveyed banks admitted to being only partially prepared, while 25% openly acknowledged their lack of readiness. Compliance hurdles are significant.

Instant Payments

FICO

NOVEMBER 10, 2020

As someone who has worked in fraud detection and mitigation for more than 30 years, I wanted to share some important facts on how banks and card issuers protect their customers from fraudulent transactions: with multiple defenses that are often invisible, and more importantly, often intentionally frictionless. Emphases added.).

Credit Cards

The Payments Association

OCTOBER 22, 2024

In addition to screening out seemingly malicious actors during know-your-customer (KYC) and anti-money laundering (AML) checks, banks and payments companies can employ machine learning models for pattern recognition and anomaly detection to identify unusual transaction behaviour post-onboarding, such as large transfers to new payees.

Rules

Fintech Finance

FEBRUARY 6, 2024

The panel discussed the importance of enhancing fraud-detection measures and developing systems to be able to handle reimbursement claims in cases where the firm has sent or received funds resulting from a scam.

Fraud Detection

PYMNTS

MAY 24, 2016

The pairing aims to strengthen fraud detection in an environment where payers and payees expect instantaneous transactions, explained TSYS Group Executive of Product Strategies Andrew Mathieson in a recent interview with PYMNTS.

B2B

The Fintech Times

DECEMBER 31, 2023

Expect innovations in biometric authentication and AI-driven fraud detection, ensuring a harmonious blend of security and user-friendliness. Looking ahead to 2024, we predict a continued surge in decentralised finance (DeFi) applications, reshaping traditional payment structures.

Global Payments

Finovate

SEPTEMBER 20, 2024

Nigerian fraud detection company Regfyl raised $1.1 Bulgaria-based Paynetics teamed up with tell.money to launch its Confirmation of Payee (CoP) service. Sub-Saharan Africa South African fintech Happy Pay locked in $1.8 million in pre-seed funding in a round co-led by E4E Africa and 4Di Capital. million in funding.

Innovation

FICO

FEBRUARY 25, 2022

Since May 2019, major UK banks have participated in a voluntary code - the Contingent Reimbursement Model (CRM), designed to provide funds back to the victims of authorised push payment fraud or APP fraud. Look Out for APP Fraud Signals – Develop the Rules. Has this been over a long period of time?

Scams

Stax

APRIL 11, 2024

Robust security measures: Any PMS worth its salt needs to have standard security features like encryption, fraud detection and compliance with industry standards, including the PCI DSS. Helpful integration capabilities: You don’t want a PMS siloed from other technology.

Payments

Nanonets

SEPTEMBER 25, 2024

   It involves extracting key details from bank statements, such as transaction amounts, dates, descriptions, account balances, payee names, account numbers, and transaction types (e.g., 💡 Key benefit : ML fraud detection systems improve risk management and reduce potential financial losses by up to 70%.

Process

Seon

JULY 27, 2023

Doing so is ideal as the payer can then not only know that the outgoing payment was transmitted but received by the payee. How Will FedNow’s Instant Payments Impact Fraud Detection? As such, fraud detection will have an increased need for both better anti-phishing measures and stronger transaction monitoring focuses.

FedNow

Stax

JULY 9, 2024

Peer-to-peer electronic payment methods link to the payer and payee’s bank account to withdraw and deposit funds, providing a way for users to easily perform a funds transfer. These platforms allow users to search for other users and perform online transactions between themselves. What makes peer-to-peer payments unique?

Digital Payments

FICO

APRIL 8, 2022

Orchestration for fraud detection and prevention more closely resembles coordinating a large picnic: Who’s bringing the sandwiches? Orchestration in this context doesn’t work like a musical orchestra, in which all the instruments are present on the stage, brought together by the musical score and the conductor. The snacks? The drinks?

Scams

FICO

MAY 3, 2023

James Roche will present how using a combination of AI and machine learning and innovative customer communications, detection and prevention can both be enhanced. Hyper-personalization and communications that drive action 77% of customers worldwide want their banks to offer better fraud detection.

Scams

FICO

NOVEMBER 30, 2022

By convincing individuals to send money through apps like Venmo, CashApp, Zelle and others, or adding a payee for traditional ACH transactions, fraudsters are perpetuating what is known in the financial industry as Authorized Push Payment (APP) fraud (in the UK) or authorized user fraud (in the US).

Scams

EBizCharge

APRIL 25, 2024

Paper checks and eChecks Paper checks are still used today since they offer a tangible record of transactions, providing both the payer and the payee with a physical document detailing the payment. Many gateways also offer two-factor authentication and fraud detection systems, further enhancing the safety of online transactions.

Online and Mobile Banking

The Payments Association

MAY 16, 2025

This standard introduces structured, enriched data formats for payment messagesimproving interoperability, fraud detection, and reconciliation. PSPs and acquirers will now transmit richer remittance information, structured payer/payee details, and standardised reference fields.

Regulations

EBizCharge

JUNE 25, 2024

Fraud protection One overlooked yet critical aspect of invoice reconciliation is its role in fraud detection and prevention. This sets a high bar for internal control measures and discourages malfeasance by increasing the likelihood of early detection.

Reconciliation

Seon

APRIL 18, 2024

Blackbox machine learning is efficient in churning through data to provide rapid fraud detection scores but lacks transparency in its decision-making processes. This obscurity can impede the ability to fine-tune or understand the basis of certain fraud alerts.

Authorization

Stax

MARCH 14, 2024

This would take them to the gateway where they can pay by credit card, Paypal, or other payment options the payee wishes to add. Look for features such as tokenization, encryption, and payment fraud detection to protect sensitive payment data and mitigate fraud risks.

B2B

Nanonets

JANUARY 8, 2024

Adjust for deposits in transit (deposits you've made but haven't yet cleared) and outstanding checks (checks you've written but haven't been cashed by the payee). Automate your mortgage processing, underwriting, fraud detection, bank reconciliations or accounting processes with a ready-to-use custom workflow.

Reconciliation

Nanonets

JANUARY 8, 2024

Adjust for deposits in transit (deposits you've made but haven't yet cleared) and outstanding checks (checks you've written but haven't been cashed by the payee). Automate your mortgage processing, underwriting, fraud detection, bank reconciliations or accounting processes with a ready-to-use custom workflow.

Reconciliation

The Payments Association

JANUARY 14, 2025

The section concluded with a call for enhanced industry initiatives, including standardised data sharing and improved fraud detection strategies. Participants highlighted the potential of open banking to transform financial services but stressed that addressing fraud vulnerabilities is critical to sustaining trust and fostering growth.

Fraud Prevention

Nanonets

NOVEMBER 5, 2024

MoneyThumb Bank statement conversion & fraud detection No No Fraud detection, reconciliation Lenders, accountants NA ProperSoft Offline transaction file conversion No No Offline use, one-time purchase Individuals, small businesses 4.4 Cleans up and standardizes payee names automatically 4. Key features: 1.

Process