Keeping Open Banking Closed to Criminals
Sponsored by: BAE Systems
- Fraud Prevention
Date: 20 June
Days to go: 60
Time: 10AM London/11AM CET
Strategies to disappoint fraudsters, not customers
Striking the right balance between reducing fraud rates and maintaining an easy, frictionless experience for genuine customers is a constant challenge for banks.
The growth of open banking initiatives globally, whilst good for consumers, is causing many to rethink the best way to mitigate fraud. Disintermediation threatens to distance banks from their customers whilst at the same time regulators are pressing them to take more liability for losses that their customers are unwittingly incurring.
With the advent of PSD2 in Europe it is more important than ever to be able to react faster to new fraud threats originating from an increasing number of channels. Failure to respond quickly could lead to increased authentication checks and the negative customer reaction that would generate.
So how to square the circle?
At the vanguard of fraud prevention, those with foresight are starting to link up a number of innovative strategies that go beyond tactical reactions and siloed solutions. These are the strategies that offer the best prospects for overcoming the threat of ever more sophisticated criminal organisations.
The webinar will cover the ways to carefully monitor fraud attacks, how to automate detection, quickly adjust rules in response to new threats and ways for customers to pre-verify certain transactions as genuine and redesign the whole journey to improve customer experience. We will also look into the future and highlight some areas where we believe the most uncertainties will lie.
Senior Fraud and Financial Crime Prevention Consultant
Senior Fraud and Financial Crime Prevention Consultant with over 20 years’ experience at some of the UK’s leading Financial Services Organisations and Software Vendors.
Gareth started his career with HSBC before joining the UK credit card revolution at Bank One International, after many years within the credit card industry focussing on both card payment fraud and application and post application fraud, Gareth moved into application fraud software product development.
In 2007, Gareth joined Lloyds Banking Group to implement their non-plastic fraud strategy in time for the UK’s Faster payments initiative. Now at BAE Systems Gareth is tasked with shaping the BAE Systems Fraud Prevention offering within the Applied Intelligence Cyber Crime Division.
Key Learning Objectives
- Share insights/expertise into the topic
- Hear what other experts have to say on the subject
- Hear about how other banks have tackled the issue
- Head of Fraud
- Head of Financial Security
- Head of Counter Fraud
- Director/Head of Financial Crime
- Director Financial Investigation
- Head of FIU Head of Financial Crime Policies Financial Crime Director Head of Financial Crime Head of Department Global Financial Crime Unit
- Head of Anti-Fraud and Investigations Counter Fraud