1 minute read
By Courtney Mamuscia
Posted in Customer Engagement
A report by The Association of Certified Fraud Examiners found that organizations lose about five percent of their annual revenues to fraud, putting potential global fraud losses near $4 trillion.
With technology driving the growth of fast fraud and creating new opportunities for exploitation of fraud prevention systems, financial institutions are looking for new ways to plug any weaknesses in their fraud safeguards to stem the losses banks and credit unions experience daily.
As those losses continue to rise, fraud prevention and risk management can no longer be managed in silos by separate fraud, risk and IT teams. With the growth of AI and the digital transformation boom, a convergence of these functions is emerging—and becoming increasingly recommended as costs continue to spiral out of control. As such, Verint will host a webinar on August 6 at 1 p.m. ET to address how applying AI and a risk-based approach is the next step to help detect and predict threats before fraud occurs.
Convergence of physical and IT security is inevitable, but implementation has been lacking because traditionally, physical and cyber security systems have operated on different levels. Integration was viewed as a pricey, complex undertaking but that's no longer the case. Our speakers will look at the challenges facing fraud investigators and discuss how new technologies such as AI factor into today’s security, IT and fraud solutions to protect the bottom line.
Featured webinar speakers include Jonathan Kirby, Assistant Vice President, Redstone Federal Credit Union; Alex Johnson, Senior Director, Analytics and Strategy, Verint; Sam Piccolotti, Vice President Business Development, ToolCASE; and Renee Wilson, Director of Risk Management, ToolCASE.
ToolCASE Informant, an AI-based solution for the financial services industry, in combination with Verint’s EdgeVMS Platform, an industry-leading security solution with powerful video management software and IP-based network video recorders, allows risk departments to communicate with all systems and one another seamlessly.
To register for the webinar, click here.
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