The current pandemic aggravates the situation as fraudsters are quick to jump on a banks’ vulnerability in a crisis. While there was a reported 400 per cent jump in Covid-19 related frauds in the UK alone between February and March 2020, the overall cost of bank fraud in the form of social engineering attacks, scams, fake invoices, and online banking access is estimated to reach as high as $2tn a year.
Join Matthew Reddington, Strategic Partnerships Director at NetGuardianss and Michael Pierce, EMEA Regional Director Nordics at Mambu to discuss the latest fraud prevention trends and highlight how, through the use of a composable architecture, banks are enabling smarter AI technology to address fraud effectively.
- Digital transformation and the changing fraud landscape
- Limitations of traditional fraud management systems
- Building a secure, API-enabled composable architecture
- Leveraging data and AI technology to stop fraud in real-time without compromising customer experience
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