Fintech

When underprivileged communities are excluded from the lending ecosystem, the impact ripples across the economy. Essential investments in housing, healthcare, and education are missed, stunting economic mobility. In India, for instance, this credit invisibility costs the country an estimated ₹3.6 trillion in GDP growth each year

This report, by Bureau, talks about the leading fraud challenges digital bankers and lenders face in the Philippines. With quotes from industry experts such as Lito Villanueva, EVP and Chief Innovation and Inclusion Officer, RCBC and Lawrence Y. Ferrer, President and CEO, Bayad, this report dives into the different financial frauds, what the regulators are doing about it, and how technology can help detect and eliminate these frauds.

In today’s digital age, opportunities are vast, but so are the risks. As technology advances, cybercriminals find new ways to exploit vulnerabilities in the digital world. Whether you’re an individual or a business, protecting against fraud is crucial. This guide aims to provide both consumers and businesses with the knowledge and tools needed to navigate the digital space securely.

Debt collection is a crucial yet challenging aspect of the lending industry. Having effective recovery processes in place not only safeguards your bottomline but also contributes to a healthier financial ecosystem. This article explores how making informed decisions can lead to more efficient and compliant debt collection strategies.

Alternative data is revolutionizing credit risk scoring by addressing the limitations of traditional models. It includes online behavior and social media activity, providing a comprehensive digital footprint. This enables accurate credit assessment, especially for individuals with limited credit history. By leveraging alternative data, the financial inclusion challenge can be tackled, and risk scoring practices can be significantly improved.

In 2021, India was the third-largest victim of expanding cybercrime with five significant data breaches. Safeguarding critical infrastructure and data is, therefore, essential. In that respect, zero-trust systems can be viewed as a form of insurance against lost or stolen data.

As cryptocurrency platforms see a continued rise in new account sign-ups and transactions, it is essential that they have a process in place to identify good customers and reduce friction while safeguarding reputation and compliance.

Debanjan Chatterjee writes about Central Bank Digital Currency and its noteworthy benefits which include the financial inclusion of the unbanked population and direct fiscal transfers to households.

In the last few years, there have been significant data breaches that have exposed users’ sensitive information across the globe. Because of these genuine risks, the ability to verify a user’s identity is critical to your security infrastructure.

The future of banking rests on a digital infrastructure that can create reliable digital customer journeys for onboarding by gathering appropriate information with the least friction possible. A slick, agile and flexible solution such as Bureau’s checks for fraud and friction seamlessly.

Risk-based authentication has become increasingly important as ID fraud, transaction fraud, and account takeovers (ATOs) continue to skyrocket. Bureau’s RBA solution uses a risk engine with machine learning to detect fraud better

Institutions and businesses today do not have the luxury of time and resources and must authenticate transactions in a matter of seconds. Hence, fraud detection with machine learning becomes viable due to its ability to learn from historical fraud patterns and block them in future transactions.

With PayPal admitting to having identified 4.5 million fraudulent accounts, it becomes imperative for businesses to invest heavily in fraud prevention tools that combine intelligent automation to transform the client experience, prevent bots and accelerate onboarding.

Unlike traditional banks, neobanks run the risk of increasing customer churn, by applying more checks and frictions. Hence, they need a solution that verifies identities in the background and pulls up data in real-time.

As lucrative commissions attract more agents to the rapidly growing insurance industry, fraud cases have also risen. But what if there's a way to use a risk intelligence system to identify bogus applicants and assess them? It's now possible to identify such fraudsters with Bureau.

In this rapidly changing digital world, customer experience and convenience have emerged as critical differentiators of a world-class digital transaction experience. To deliver an exceptional customer experience, the onboarding process needs to be as seamless and simple as possible.

The right KYC experience is an essential part of your customer’s onboarding journey and can make or break your business. Most businesses don’t pay much attention to adopting stringent identity verification processes unless something goes wrong.