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May 3, 2022 // Roy Prayikulam

Innovations in Payment Fraud – And How to Stay Ahead of Them

2021 was a year of innovations in payments, from the wider acceptance of blockchain and cryptocurrency to new forms of digital wallets and currency.

Sep 14, 2021 // Roy Prayikulam

Using Artificial Intelligence in the Fight Against Money Laundering and Terrorist Financing

The European Financial Supervisory Authority estimates that transactions involving "dirty" money now account for around 1.5% of annual gross domestic product in the EU - that's 133 billion euros. The European Union therefore wants to block a larger portion of these dirty deals and has its sights set on a new directive this fall.

Jun 17, 2021 // Roy Prayikulam

PSD2 Made Strong Customer Authentication Mandatory – Risk Based Authentication Makes it Convenient

Strong Customer Authentication (SCA) is designed to protect banks and customers from fraudulent activity, but it creates high overhead costs and can compromise customer convenience and revenue opportunities. Using risk-based authentication (RBA) can mitigate these hurdles without sacrificing transaction security.

Feb 23, 2021 // Roy Prayikulam

5 Things a PSD2-Compliant Fraud Prevention Software Must Be Able to Do

Banks and payment service providers have had two major challenges thrust their way because of the COVID-19 pandemic. Firstly, there is a boom in online commerce which is leading to a flood of payment transactions and their accompanying fraud attempts.

Feb 25, 2020 // Roy Prayikulam

Fighting Financial Crime with Hybrid AI

Machine learning is nothing new. In fact, many of the algorithms used to make predictions have been around for decades. Nevertheless, there is a current hype around the topic of Artificial Intelligence and Machine Learning that spans across nearly every industry, and banking is no exception.