Financial services are evolving at an unprecedented pace and consumers expect those services to be delivered instantly and securely. But fraud and financial crime is evolving just as quickly and pushing financial institutions to seek new strategies to manage risk and stay ahead of criminals.
The world's economies, markets and consumers have accelerated the move from checks and cash to contactless and electronic payments. The rise in person-to-person payments is a good example. But with that shift, there are more scams, more account takeovers and more sophisticated identity fraud. The more fraud and financial crime succeed, the more money there is to launder, so it becomes a vicious upward cycle.
The stakes are high, but financial institutions have access to the tools that can help them mount a powerful defense against financial crime.
Employing artificial intelligence (AI) and machine learning facilitate monitoring for an unprecedented amount of data at scale. Adaptive behavioral analytics adds an additional layer of protection by focusing on good activity to create a baseline of what should be allowed. Anomalous deviations are used to identify new attacks as they emerge. That combination enables institutions to make accurate decisions, detecting financial crime and reducing friction while continually adapting to the changing behavior of consumers and financial criminals.
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Alerts are sent based on suspicious activity, enabling instant decisions to block, hold or release transactions. Behavioral profiling and identification of unusual patterns help with real-time detection and decisions.
Our solutions focus on accuracy in financial crime detection. Your team can concentrate on investigating real issues, not chasing false positives.
Our financial crime risk management solutions adapt to regulatory changes, speed up the onboarding process and optimize operational efficiency.
Advanced case management and reporting capabilities help you further simplify detection, prevention and compliance.
The award-winning Financial Crime Risk Management Platform from Fiserv gives you a holistic view across financial crime types, locations, business units, products and channels.
Cross-channel monitoring and interdiction solution to identify and prevent electronic payment fraud, including wire fraud, before the transaction leaves your institution.
The stakes are high in the fight against fraud, but financial institutions have access to the tools that can help them mount a powerful defense.
Robust fraud and anti-money laundering solutions, powered by advanced analytics, are paving the way for advanced data collection, providing a more holistic view of customer behavior to better manage risk.
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