Security
Online Identity Verification Company Jumio Records Drop in New Account Fraud
Jumio, a leading provider of AI-powered end-to-end identity verification and eKYC solutions, said fraud rates for new account openings decreased in 2020, a trend that could be explained by rising adoption of verification methods like selfie and live capture requirements.
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NICE Partners Refinitiv to Offer Surveillance Suite Across Asia Pacific
NICE Actimize and Refinitiv, a global provider of financial market data and infrastructure, has partnered to offer the former’s SURVEIL-X Holistic Surveillance Suite through both a cloud or on-premises environment in the APAC region. Refinitiv said that it will boost
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Enhancing Remote Working and Cybersecurity a Top Priority of Asia Pacific
Across Asia-Pacific (APAC), firms are ramping up their digital transformation efforts, focusing primarily on adopting cloud computing, improving cybersecurity and enhancing remote working, a new survey by Australian telco firm Telstra. The study, conducted in late-2020, polled 420 business decision-makers
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6 Key Takeaways From MAS’ New Technology Risk Management Guidelines
With the rising numbers and scale of cyberattacks, the Monetary Authority of Singapore (MAS) revised its technology risk management (TRM) guidelines on January 18,2021. The TRM guidelines apply to all financial institutions (FI) that MAS regulates, ranging from large ones
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eKYC Firm Jumio Secures $150 Million From Great Hill Partners
Jumio, a provider of AI-powered end-to-end identity verification and eKYC solutions, today announced it secured a $150 million investment from Great Hill Partners, a private equity firm that invests in high-growth, disruptive companies. This infusion represents the single largest funding
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Banks Need to Step Up as Fraudsters Target Surge in Digital Adoption by First Time Users
The COVID-19 pandemic has forced organisations and individuals to embrace new practices and move to online channels, bringing with it a significant increase in fraudulent activities. Affirming this situation, cybersecurity firm Kaspersky recorded a 20% increase in the share of
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BioCatch Secures Patent for Authenticating Users of Mobile Devices, Expands in APAC
BioCatch, a digital identity company announced that it has received a registered U.S. patent for its method of verifying a user’s identity and detecting fraud, based on the manner in which the user holds and uses their mobile device. This
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Authentication Is Done. What About Identification?
Airome Technologies, a Singapore-based developer of cybersecurity solutions for digital banking and e-document management systems, has been working with authentication and transaction confirmation technologies for a while, creating advanced products in this field. However, with the pandemic situation the company
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A Secure Contactless Customer Experience on Mobile in This New Normal
COVID-19 has altered customer behaviour, and banks will have to enhance their business models to accommodate what’s new and next. Since the pandemic is still very much part of our lives, banks will be confronted by increased customer expectations and
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Fraud Attacks Increase Amid Rising Digital Banking Adoption
The COVID-19 pandemic and the measures put in place to limit the spread of the virus have drastically accelerated adoption of digital banking and contactless payments. Across Southeast Asia, banks have ramped up their digital efforts to respond to the
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