Paul Kizakevich’s Post

🌐 MapmyIndia Founders Unveil ClarityX to Aid Enterprises with AI Insights and Combat Financial Frauds. The founders of MapmyIndia have launched ClarityX, a new venture aimed at providing enterprises with AI-powered insights to help curb financial fraud and improve decision-making. 💡 New Venture Launch: - MapmyIndia founders have introduced ClarityX, focusing on delivering AI-driven insights to enterprises. - ClarityX aims to assist businesses in identifying and preventing financial fraud through advanced AI technology. 🔍 Focus on Financial Fraud Prevention: - ClarityX utilizes AI and machine learning to detect fraudulent activities, offering enterprises tools to safeguard their financial operations. - The platform provides real-time insights and analytics to help businesses identify anomalies and potential fraud risks. 🚀 Strategic Objectives: - The venture aims to empower enterprises with actionable intelligence to enhance decision-making and operational efficiency. - ClarityX plans to cater to various industries, providing customized AI solutions to meet specific business needs. 📈 Market Impact: - ClarityX's launch is expected to significantly impact the financial services industry by offering robust tools for fraud detection and prevention. - The platform’s advanced analytics capabilities will help businesses reduce financial losses and improve overall security. 🌐 Industry Benefits: - By leveraging AI, ClarityX aims to transform how enterprises approach fraud detection, moving from reactive to proactive measures. - The venture will support businesses in maintaining compliance with regulatory standards and reducing the risk of financial crimes. 📅 Future Outlook: - ClarityX plans to expand its offerings and continuously enhance its AI algorithms to stay ahead of evolving fraud tactics. - The founders' experience with MapmyIndia positions ClarityX for success in the AI and enterprise solutions market, aiming for rapid growth and adoption. The launch of ClarityX by MapmyIndia's founders marks a significant step towards enhancing enterprise security and decision-making through cutting-edge AI technology, addressing the critical issue of financial fraud in the business world. MapmyIndia #ClarityX #MapmyIndia #AI #FinancialFraud #EnterpriseSolutions #TechInnovation #BusinessSecurity #StartUpNews #BusinessNews #MicroShots #NewsUpdates

2024 Unleashed: AI Transforms Fintech's Battle Against Fraud! 🛡️ As we step into 2024, fintech leaders and the broader financial services industry face a formidable challenge: Fraud. Christen Kirchner, CFE (a senior solutions expert in fraud and AML at SAS) emphasises the critical role of fintech in enhancing consumer protection. 📊 Eye-Opening Findings: SAS's recent consumer fraud study reveals a stark reality - nearly 90% of consumers feel that financial services organisations should intensify their fraud protection efforts. The urgency is highlighted by the fact that nearly two-thirds of UK consumers are ready to switch providers for better fraud protection. 💡 The Fintech Mandate: This situation places fintechs at a strategic juncture. Their task? To empower financial services businesses in elevating consumer protection standards. 🚀 AI to the Rescue: The solution lies in AI-powered analytics. Not only can these advanced systems bolster fraud detection, but they also achieve this without hampering the customer experience through unnecessary checks or false positives. 📈 Beyond Fraud Detection: The capabilities of AI analytics extend further. They can enhance overall business performance by intuitively understanding and anticipating customer needs based on behaviour. This suggests that AI's role in 2024 will be pivotal and multifaceted. As we navigate these challenges, the intersection of fintech innovation and AI analytics emerges as a key battleground in the fight against fraud, promising a safer and more intuitive financial ecosystem for consumers. Follow Appmilla for #fintech news & more💡 #Fintech2024 #FraudPrevention #AIAnalytics #FinancialServices #ConsumerProtection #SAS #InnovationInFinance

Secura/Isaac Group and fintech innovator Consilient are thrilled to announce a groundbreaking strategic partnership to enhance financial crime detection using Federated Learning technology. In today’s age of increasingly sophisticated financial crimes, this innovative collaboration leverages AI to empower financial institutions, regulators, FIUs, and payment platforms in identifying suspicious behavior while maintaining data privacy. Learn more below: #fintech #risk #banking #regulation

Smaller institutions can't afford to throw money away on fraud and financial crime solutions that are rendered obsolete overnight. But that is happening. Right now. There's no question that smaller banks and credit unions have historically been at a disadvantage compared to the largest institutions, but it's only going to get worse. They cannot continue on the same path in their efforts to keep up. It's simply not viable in today's threat environment. And the data proves that bankers can see the writing on the wall. Check out my newest blog for my friends at BioCatch to learn more about the AI Data Gap and what the implications will be when adversaries are increasingly armed with their own AI tools. #llm #genAI #fraud #scams #fincrime https://lnkd.in/eWP3kDQi

Register for part 2 of our #webinar series on July 11 (9am EST, 3pm CET)! 📅 Last week, we inspected the onslaught of generative #AI on the world of #documentfraud and the broad implications this has on the entire #fintech and #financialcrime environment (massive scale-up, urgent need for multi-layered defense). 🛡️ But not every fraud attempt is that sophisticated. 🤔 Sometimes, all you need is to focus on the basics. 🔍 Join our experts Joe L. and Domenico Martinez, as they show you some key principles for document fraud detection. 🔑 Together, we will explore essential strategies for combating widespread document fraud, covering areas such as #onboarding, mortgage origination, #insurance claims, and consumer lending. 🏦 Whether it’s best practices, common pitfalls, or the latest advancements in AI #technology to safeguard against fraud, we got you covered. ✅ Register and learn how your organization can develop a robust #strategy for #fraud detection, and stay ahead at a time of rapid transformation in the fraud landscape. 🚀 Register now to save your spot 👉 https://lnkd.in/eQmXSsvU #fincrime #startups #innovation #education

💥 What a week! 1️⃣ A great webinar talking all things #AI and synthetic data in financial crime with incredible panelists Gary Wright (Finextra), Stephen Quick CFA (FinCrime Dynamics), Richard Harmon (Red Hat). Discussion points: ➡️ the state of anti-financial crime tools ➡️ synthetic data and how it can help prevent fraud ➡️ current fraud landscape (yes - APP fraud was a big feature!) ➡️ testing and training AI defences I will add the link to the webinar on demand in the comments below. 2️⃣ A great interview with The Paypers about liability for #fraud. We covered: ➡️ multi-industry collaboration ➡️ strategies to maintain customer vigilance ➡️ liability for tech firms ➡️ the need for further regulatory changes I will add the link in the comments below. 3️⃣ The Thistle Initiatives Financial Crime Team is doing some amazing work. Shout out to my whole team (which is growing - watch this space!). We are working across: ➡️ Fraud assurance ➡️ Sanctions advice and testing ➡️ Skilled Person support ➡️ Managed resources ➡️ Policy uplift and procedure build out ➡️ Risk assessments... to name just a few! 4️⃣ And to top it off, I'm signing out for a few weeks to get married! 💒 If you have any #fincrime questions Leanda Mark-Ihama and James Dodsworth from Thistle Initiatives are here! #outofoffice

Interested in how we're tackling an old issue with new tech? Check out my recent article to see how we're using Machine Learning to fight money laundering.

Moderated by Ron Shevlin, Chief Research Officer, Cornerstone Advisors, our live webinar panel discussion entitled "The How-To Guide to Preventing Fraud in Real-Time with AI" on Thursday, February 29th will include Ravi Sandepudi, CEO/Co-founder of Effectiv, Jon Bobb, Head of Fraud & Risk of Unchained and Raj Bandaru, CIO of Kinecta Federal Credit Union. Drawing from diverse perspectives and deep industry insights, our expert panelists will illuminate the potential of AI to revolutionize risk management protocols and fortify financial institutions against ever-evolving threats. Topics of discussion will include: ➡ How is AI causing fraud? Before deploying AI to prevent fraud, financial institution executives should understand how AI is causing and enabling fraud and the types of fraud prevalent in the industry today. ➡ Does real-time payments = real-time fraud? There’s a common misconception in the industry that faster payments mean faster fraud. The reality isn’t that simple or straightforward. Instant payments change the nature of fraud prevention from post-transaction analysis to pre-transaction analysis. ➡ How can real-time AI improve the onboarding experience? Does maintaining robust KYC/KYB compliance standards have to compromise a fast, seamless experience? ➡ What impact can AI—deployed real-time—have on reducing fraud? What should financial institutions expect in fraud loss reduction from the use of AI? ➡ How does AI fit into today’s technology stack? What integration issues and challenges will financial institutions face in deploying AI, and how are early adopters overcoming these challenges? Secure your spot today! https://lnkd.in/dKm9rBGy #ai #fraudprevention #riskmanagement #realtimepayments

In the battle against financial fraud and money laundering, staying one step ahead is crucial. At Qonto, we're committed to improving our detection systems on a daily basis, to combat fraudsters’ evolving tactics. The team’s new approach capitalizes on explainable machine learning to fine-tune our experts’ analysis. And it’s seeing big results; boosting precision in fraud detection by 200%, to reach 300% overall, with an improvement of 588% in our largest market. This initiative has already had a profound impact on how our teams operate, helping them to be even more efficient in the fight against fraud. Curious to learn more about our solution for detecting money laundering? Qonto’s Machine Learning Engineer, Bastien ROLANDO, gives you a rundown in this Medium article: https://lnkd.in/g6nMZY4N