Financial fraud has reached alarming levels in recent years, with reported losses in 2024 amounting to over $12.5 billion—a significant 25% increase compared to the previous year. In response to this trend, an overwhelming 77% of surveyed financial institutions anticipate that fraud cases will
The insurance industry is undergoing a radical transformation as Artificial Intelligence (AI), Machine Learning (ML), and Big Data analytics revolutionize traditional practices. These technological advancements are not merely incremental; they are fundamentally altering how insurers operate, assess
In an industry grappling with sophisticated fraud tactics and increasingly stringent regulatory frameworks, a novel partnership has emerged to address these challenges head-on. Tuum, a modular, cloud-native core banking provider, has teamed up with Sumsub, a renowned full-cycle verification
In today's rapidly evolving financial landscape, the security and integrity of transactions are more paramount than ever before. With the growing menace of financial crimes such as money laundering and fraud, businesses seek robust solutions to safeguard their operations. Pleo, a leading financial
The swiftly evolving domain of compliance and technology has given rise to Regulatory Technology, or RegTech—a critical industry for businesses navigating the complex web of global regulatory processes. Visualize an automated system that ensures a multinational financial entity's unwavering
Simon Glairy is a recognized expert in the fields of insurance and Insurtech, with a specialized focus on risk management and AI-driven risk assessment. Today, we discuss Experian's recent research report conducted by Forrester Consulting, examining how Generative AI (GenAI) is reshaping fraud
