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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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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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