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Tackling Data Breaches and Account Opening Fraud in one

In the ongoing challenge to protect data and fight fraud, few organisations make the connection between data breaches and account takeover fraud.

According to Risk Based Security research, published in the 2019 MidYear QuickView Data Breach Report, the first six months of 2019 have exposed an incredible 4.1 billion records through 3,800 publicly disclosed breaches.

Organisations are tasked and engaged with GDPR, KYC, AML and PSD2 compliance, but are not necessarily joining up the dots to be more efficient in their approach.

Account opening fraud needs to be tackled with preventative action. And data breaches must be curbed to reduce vulnerabilities and exposures, to protect the account opening process.

Technology is the key, and the very latest in biometric and digital identification is required. Given the paragon of communication that the mobile has come to be, an identity and verification solution on the mobile is the key to success here. And a tight, fraud-proof solution means a better onboarding experience leading to higher retention rates and more satisfied customers.

Join this webinar to hear experts discuss:
- The correlation between data breaches and account opening fraud
- How to utilise the latest technology for a fool-proof identity and verification solution
- The wider benefits of implementing a seamless and secure onboarding process

Speakers:
- Gary Wright - Head of Research, Finextra [Moderator]
- Simon Winchester - Managing Director, Jumio
- Richard Dupree - Senior Vice President, Group Operational Risk, Bank of the West
- Daan van den Eshof - Product Manager and eBusiness, Rabobank
Recorded Apr 8 2020 56 mins
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Presented by
Gary Wright - Head of Research, Finextra [Moderator] Simon Winchester - Managing Director, Jumio Richard Dupree - Senior Vice
Presentation preview: Tackling Data Breaches and Account Opening Fraud in one

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  • Making Traction in Digital Transformation: 5 Real-World Strategies for Success Recorded: Sep 14 2021 31 mins
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    Digital Transformation is critical for the recovery of the airline industry with more than 60% of airline executives saying it is more important today than before the pandemic.

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    Some important changes are coming into law in 2021 in Europe, that affect how online casinos and gaming sites should manage their Know Your Customer (KYC) and age verification processes.

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  • The Compliance Question: How can you innovate your AML program? Recorded: Jul 7 2021 58 mins
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    AML continues to be an ever-increasing priority for regulators.
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    These institutions are challenged with evolving global regulatory expectations, a global customer base easily deterred by burdensome AML requirements, and a competitive market that is rapidly expanding with new entries. Firms are striving to have a fully compliant model, while maintaining a competitive edge amid increased consumer and institutional interest.

    This session sheds light on how to accomplish this.
  • Eliminate fraudulent access with remote & secure customer identity verification Recorded: Jul 7 2021 29 mins
    John Spencer Chief Strategy Officer at Veridium & Reinhard Hochrieser VP of Global Product Management at Jumio
    Synthetic identity theft is the fastest growing type of ID fraud thanks to increasing data breaches. The bad guy combines elements of fictitious and real stolen identity data to build convincing fake identities. Over 85% of synthetic fraud identities are easily slipping past risk detection systems.
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    Join Jumio and Veridium in this fireside chat to learn more about:

    - The options of AI-powered biometric verification technologies available in the market and the key factors to consider when deciding on the biometric verification method
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  • Compliance Week Panel: AML Regulatory Technology Updates and Best Practices Recorded: May 25 2021 53 mins
    Craig Fetterman, Jumio; Julie DiMauro, Compliance Week; Debra Geister, Section 2 Financial Intelligence Solutions
    Creating an approach to managing risk that uses data and regulatory technology as a critical ingredient, knowing which technology best suits the business, and making the case to upper management.

    Topics Discussed:
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    - Differences in the needs of fintechs/marketplaces vs. traditional banks - e.g. data, multi-sided transactions, unique scenarios, streamlined UI's
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  • ACFCS Discussion: The Dawn of End-to-End AML Compliance Recorded: May 19 2021 62 mins
    Micah Willbrand, VP, Product AML, Jumio
    AML fines are rising each year as financial institutions continue to make the same compliance mistakes. Often, organizations must cobble together multiple point solutions, leaving unseen gaps in their compliance process.

    Watch the replay of this webinar to watch us discuss how end-to-end AML compliance solutions are changing this reality and simplifying both the fight against financial crime and the struggle to achieve AML compliance. Gain insight into a more holistic approach to be able to manage compliance throughout the entire customer journey from onboarding to ongoing customer due diligence, transaction monitoring, case management and automated SAR reporting.

    What you’ll learn:
    - The key components of an end-to-end AML compliance solution
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  • Online Fraud Patterns and Anti-Fraud Best Practices: Asia Pacific Recorded: Apr 27 2021 56 mins
    Frederic Ho - VP of Sales APAC, Jumio; Dean Nicolls - VP of Global Marketing, Jumio
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    In this 40-minute session, we share and discuss the key findings about APAC online fraud patterns & anti-fraud best practices.

    What You'll Learn:
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  • AI in Fintech: The New Digital Customer Experience Recorded: Apr 14 2021 63 mins
    Elena Kozhemyakina, Fintech4Funds | Labhesh Patel, Jumio | Chris Leong, Leong Solutions | Amnah Ajmal, Mastercard
    Legacy financial services institutions consistently see big Tech as a competitive threat. The highly-scaled, AI-driven method of creating and nurturing client relationships seems to be the antithesis of what high-touch, relationship-driven investors pride themselves on.

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    So how can FS companies across the board view the digital client experience as a strategic advantage?

    Join this discussion as we explore:
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    Speakers:
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    - Labhesh Patel, Chief Technology Officer and Chief Scientist, Jumio
    - Chris Leong, Transformation & Change Director, Leong Solutions
    - Amnah Ajmal, Group Executive - Merchants, Acceptance & Digital Partnerships, Mastercard

    This episode is part of the "Driving Fintech Forward" series with Elena Kozhemyakina, Founder and CEO of Fintech4Funds. We welcome viewer questions and participation.
  • Digital Transformation: Best Practices to Thwart Fraud & Preserve the UX Recorded: Mar 3 2021 29 mins
    Richard Thornton, Senior Partner Risk & Compliance Europe, at Wipro and Dean Nicolls, VP of Marketing at Jumio
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    Faced with the fine balancing act between KYC and the need for fast and seamless customer onboarding, financial institutions need to rethink their account opening processes.

    Attend this Wipro/Jumio webinar to discover:
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    - Cynergy Bank Case Study: Reimagining the Onboarding Experience
  • AI in Fintech: How to Get Started with AI for Financial Services Recorded: Feb 10 2021 61 mins
    Elena Kozhemyakina, Fintech4Funds | Alix Melchy, Jumio | Katie King, AI in Business | Yali Harari, Innovesta
    While AI promises to streamline business processes and increase ROI in financial services, it also has significant implementation challenges. Many financial services organizations have tried to implement AI into their tech stack only to fail. To succeed, leadership needs to embrace AI usage and find the right talent and data. But where should financial services institutions get started to stay competitive?

    Join this webinar to learn:
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    - Challenges and pitfalls to avoid a successful implementation

    Panelists:
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    - Katie King, CEO, AI in Business
    - Yali Harari, CEO and co-Founder of Innovesta

    This episode is part of the "Driving Fintech Forward" series with Elena Kozhemyakina, Founder and CEO of Fintech4Funds. We welcome viewer questions and participation.
  • 6 Ways to Fight Off Challenger Banks and Future-Proof Your Business Recorded: Feb 4 2021 11 mins
    Jackie Wheeler, Sr. Director of Technical Content, Jumio
    With the rise of new players in the banking space over the last few years, traditional banks have been inundated with the same advice: innovate or die.

    But when the COVID-19 pandemic hit, this message became an immediate call to action. Quite simply, banks currently have a small window of opportunity to innovate in order to gain new customers and keep the ones they have. The challenge is that the innovation must be both smart and secure.

    This webinar explores how successful banks have faced these challenges and provides best practices to follow.
  • AI & Biometrics: Unlocking the Power of Digital Transformation Recorded: Feb 2 2021 56 mins
    Philip Pointner - Jumio, Ricky Lee - Sync, Danielle Herndon - Transferwise, Joshua Stephens - Current, Todd Anderson - Lendit
    A seismic shift is expected to occur with financial institutions' Know Your Customer processes over the next two years, with digital identity verification technology providing the most significant change. For decades, the only real way to verify someone’s identity online was to compare self-reported information, usually captured on an online form, to a third-party database or credit bureau.

    Thanks to large-scale data breaches, social engineering and malware, organisations have no choice but to adopt the most robust technologies at their disposal to ensure they know who they are doing business with.

    Join us to learn:
    - The benefit of face-based biometrics as the strongest form of online identity verification
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  • Automating and enhancing AML/KYC compliance for Digital Assets Recorded: Jan 20 2021 57 mins
    Frederic Ho @Jumio, Ian Lee @Merkle Science, David Pang @ComplyAdvantage, Payal Petal @FINTRAIL (Moderator)
    Regulators across the region are expanding their AML framework for regulating digital assets firms to safeguard against the growing cybersecurity threats.

    Manual AML/KYC processes, siloed AML datasets and aligning the internal processes with regulations across multiple jurisdictions are the key challenges faced by many digital asset service providers.

    Hear the subject matter experts from Jumio, ComplyAdvantage, Merkle Science and FINTRAIL discuss:

    - How AML/KYC compliance requirements have changed to tackle the changing financial services landscape
    - How technology is improving and streamlining current online customer onboarding process and AML/KYC compliance data
    - What are the key elements for building a consistent, automated end-to-end AML/KYC compliance system for cryptocurrency and digital asset companies
    - How transaction monitoring differs for cash and crypto
  • Lendit Fintech Panel: How to Streamline Digital Onboarding & Fight Online Fraud Recorded: Dec 16 2020 61 mins
    Reinhard Hochrieser - Jumio, Giacomo Austin - Paysafe Group, Sudev Balakrishnan - Stash, Bo Brustkern - Lendit Fintech
    We expect our online experiences to be simple, intuitive, mobile-optimized and fast, and we’re increasingly frustrated by any experience that does not deliver a speedy and streamlined experience. And thanks to large scale data breaches and the threat of cybercriminals, trust is in increasingly short supply. In response, businesses across all verticals must employ stronger methods of authentication to verify new online users. This means organizations are often forced to add steps (translation: more friction) to the sign-up process.

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    Watch this panel discussion around the current state of identity verification as more financial organizations and businesses move to digital.
  • Data Centric to Document-Centric Approaches to Identity Proofing Recorded: Dec 15 2020 35 mins
    Philipp Pointner, CPO - Jumio; Lisa Lechner, CCO - Mercari Inc, Lana Schwartzman, CCO - Paxful, Dean Nicolls, Jumio
    In the world of identity proofing, there are data-centric approaches and there are ID-centric approaches. Data-centric approaches rely on static data (e.g., a person’s self-reported name, address and Social Security number) and this information is corroborated against a third-party database to “verify” a person’s real-world identity. Unfortunately, these methods are no longer reliable thanks to recent data breaches, the dark web and social engineering where fraudsters can access PII data and impersonate legitimate consumers.

    Document-centric approaches, on the other hand, rely on consumers remotely submitting pictures of government-issued ID documents, such as a passport or driver's license, along with a corroborating selfie, to verify their digital identity. But, it really does not need to be an either/or scenario. In this panel discussion, you’ll learn:
    - The pros and cons of data-centric identity proofing methods
    - The pros and cons of document-centric approaches
    - How to combine these approaches to save money and increase identity assurance
    - How a real-world customer took a hybrid approach to identity proofing
  • Banking & Payments: Simplifying & Elevating The Consumer Experience Recorded: Dec 9 2020 62 mins
    Elena Kozhemyakina, Fintech4Funds | Mikkel Koster, 1508 | Yael Barak, Checkout.com | Chris Norman, Jumio
    For legacy and challenger banks, wealth managers, insurers, and payment providers, the customer experience is a critical element in winning new customers. It matters more than trust now, and tech companies outside of the financial services sector are increasingly setting standards for good customer experiences. In fact, a good customer experience increases account registration by up to 45%. By focusing on putting the customer experience first in product development, it is possible to drive competitive growth and win in the marketplace.

    But, a good customer experience is not just limited to customer-facing brands. Both front-end and back-end technology must be considered, too. From a smooth on-boarding process, KYC/AML, and fraud prevention, understanding what makes the best experience is what can stand between success and failure for banks, wealth managers, payment providers, and others. What will it take to win?

    Professionals at banks, wealth managers, payment providers, and other fintechs will benefit from viewing this webinar as it will dive into:
    - The elements of a effective customer experience and user interface
    - Where does the user experience fit into the customer experience
    - What is at stake with a poor user experience?
    - Can the customer experience assist a customer's wealth creation?
    - What back-end processes require the most attention?


    Moderated by:
    Elena Kozhemyakina, Founder, Fintech4Funds, London Partner, Fintech Connector

    Panelists:
    Mikkel Koster, Experience Design Director, 1508
    Yael Barak, VP Product, Checkout.com
    Chris Norman, Sr. Account Manager, Jumio
  • 5 Technologies that will change the face of Banking and FSI this decade Recorded: Dec 8 2020 43 mins
    Ricky Lee, CEO - Sync Money; Matthew Tataryn, Head of Financial Crime - Tide; Gordon Harrison, Head of Sales - Jumio
    A discussion between Tide, Sync Money and Jumio on emerging technologies on the horizon. The proliferation of technology has continued to accelerate. New solutions can go from bleeding edge innovation through testing and adoption in mere months. But, as we stand at the beginning of another decade, what technologies are yet to appear? What technologies will fizzle out and which technologies are yet to reach their full potential? Sync Money, Tide and Jumio discuss the technologies on the horizon and how traditional banks, challenger banks and disruptor companies are utilising the tools.

    Featuring Ricky Lee, CEO/Founder at Sync Money; Matthew Tataryn, Head of Financial Crime at Tide and Gordon Harrison, Head of Sales EMEA at Jumio Corporation.
When Identity Matters, Trust Jumio
Jumio’s mission is to make the internet a safer place by protecting the ecosystems of businesses through a unified, end-to-end identity verification and eKYC platform. The Jumio KYX Platform offers a range of identity proofing and AML services to accurately establish, maintain and reassert trust from account opening to ongoing transaction monitoring. Leveraging advanced technology including AI, biometrics, machine learning, liveness detection and automation, Jumio helps organizations fight fraud and financial crime, onboard good customers faster and meet regulatory compliance including KYC, AML and GDPR. Jumio has verified more than 300 million identities issued by over 200 countries and territories from real-time web and mobile transactions. Jumio’s solutions are used by leading companies in the financial services, sharing economy, digital currency, retail, travel and online gaming sectors. Based in Palo Alto, Jumio operates globally with offices in North America, Latin America, Europe and Asia Pacific and has been the recipient of numerous awards for innovation. For more information, please visit www.jumio.com.

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  • Title: Tackling Data Breaches and Account Opening Fraud in one
  • Live at: Apr 8 2020 1:00 pm
  • Presented by: Gary Wright - Head of Research, Finextra [Moderator] Simon Winchester - Managing Director, Jumio Richard Dupree - Senior Vice
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