February 28, 2024

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Powering Next-Generation Fraud Prevention and Security Intelligence Through Advanced Analytics and AI

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OpenGov Asia is pleased to invite you to an exclusive Breakfast Insight that will look at how you can profit from your DX journey today as you brace yourselves for the challenges beyond.

Harnessing cutting edge technologies to protect data, prevent fraud, improve customers services, safeguard reputations and strengthen compliance
In the digital age, the implications of financial crime against banks and other financial services institutions are accelerating rapidly. Fraud prevention now represents one of the biggest areas of concern for the financial services industry and is likely to have bigger ramifications in the coming years.
The loss of revenue due to frauds are staggering – but nothing compared to the real costs in lost productivity and damage to reputations and customer confidence. Then there is the fraud that goes undetected, impossible to account for, and assess.
The ramifications are far-reaching, and regulators demand that financial institutions hold more capital and get more proactive about tackling fraud and fraudulent activities.
The current global pandemic of Covid-19 is making the matters worse. While economies decline and employment rates drop drastically, cases of fraud are known to rise during recessions.
Global cases of financial scams and cyber/online fraud in the banking sector are increasing as criminals are finding new ways to steal from banks and their customers.
The shift to working from home during the COVID-19 pandemic has led to an increase in mobile phishing campaigns, with attackers targeting remote workers whose devices lack adequate security protections. Threat actors are exploiting people’s fear and financial weakness resulting from the pandemic.
Many of these campaigns are designed to steal users’ banking credentials.
Fraudsters are becoming more sophisticated today and are leveraging technology to scam more victims. This means financial institutions need a paradigm shift in their approach to mitigate fraud risks sustainably and effectively.
To meet increasing customer expectations, financial institutions need to focus on building a well-structured fraud management model that can deal with evolving digital transformation, identify unknown risks, harness the benefits of technology and reduce the cost of compliance

Proactive Fraud Protection Through Advanced Analytics, AI and Machine Learning

Artificial intelligence (AI) has the potential to transform financial institutions (FIs), disrupting every aspect of financial services, from the customer experience to financial crime.
One of the most compelling use cases for AI is in the battle against financial crime. AI has two primary benefits for the banks engaged in this battle: it can increase the effectiveness and efficiency of financial crime investigations, and the institutionalise risk management.
Financial institutions can employ AI to analyse large amounts of data, to filter out false alerts and identify complex criminal conduct. It can identify connections and patterns that are too complex to be picked up by straightforward, rule-based monitoring, or the human eye.
This points to four basic questions:

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Who Should Attend

We will be discussing:


Meet Our 2020 Speackers

Dr David Hardoon
Senior Advisor – Data and Artificial Intelligence
UnionBank Philippines

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Ahmed Drissi
Anti-Money Laundering Lead – APAC
SAS

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Remco den Heijer
Vice President
SAS, ASEAN

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Mohit Sagar
Group Managing Director and Editor-in-Chief
OpenGov Asia

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IN COLLABORATION WITH

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Networking

Make valuable connections and meet peers and mentors in your industry. Share ideas with others in your field, meet your future business partner, or seek advice from people who’ve done it all before.

Learning

We live in uncertain times for tech and business. We’re welcoming the people who are tackling the big challenges facing industry today. In our current climate, upskilling has never been more important.

Exposure

Get exposed to first-hand knowledge and intelligence from subject matter experts across Asia Pacific to accelerate growth and progress.

The session is fruitful in a way that based on the feedback of the co-delegates you can assess the level of how others are doing also in this space

UnionBank of the Philippines

The session was well-organised with relevant topics and it was very insightful

Anti-Money Laundering Counci

I love attending OpenGov’s session. I enjoy how the event is conducted as it is very interactive. There is no dull moment

Bureau of Internal Revenue

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PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.