Powering Next-Generation Fraud Prevention and Security Intelligence Through Advanced Analytics and AI
08:45 - 18 August, 2020
Powering Next-Generation Fraud Prevention and Security Intelligence Through Advanced Analytics and AI

Harnessing cutting edge technologies to protect data, prevent fraud, improve customers services, safeguard reputations and strengthen compliance

Tuesday, 18th August 2020

Philippine Standard Time 08:45 am - 10.00 am (GMT +8)

In the digital age, the implications of financial crime against banks and other financial services institutions are accelerating rapidly. Fraud prevention now represents one of the biggest areas of concern for the financial services industry and is likely to have bigger ramifications in the coming years.

The loss of revenue due to frauds are staggering – but nothing compared to the real costs in lost productivity and damage to reputations and customer confidence. Then there is the fraud that goes undetected, impossible to account for, and assess.

The ramifications are far-reaching, and regulators demand that financial institutions hold more capital and get more proactive about tackling fraud and fraudulent activities.

The current global pandemic of Covid-19 is making the matters worse. While economies decline and employment rates drop drastically, cases of fraud are known to rise during recessions.

Global cases of financial scams and cyber/online fraud in the banking sector are increasing as criminals are finding new ways to steal from banks and their customers.

The shift to working from home during the COVID-19 pandemic has led to an increase in mobile phishing campaigns, with attackers targeting remote workers whose devices lack adequate security protections. Threat actors are exploiting people’s fear and financial weakness resulting from the pandemic.

Many of these campaigns are designed to steal users’ banking credentials.

Fraudsters are becoming more sophisticated today and are leveraging technology to scam more victims. This means financial institutions need a paradigm shift in their approach to mitigate fraud risks sustainably and effectively.

To meet increasing customer expectations, financial institutions need to focus on building a well-structured fraud management model that can deal with evolving digital transformation, identify unknown risks, harness the benefits of technology and reduce the cost of compliance.

Proactive Fraud Protection Through Advanced Analytics, AI and Machine Learning

Artificial intelligence (AI) has the potential to transform financial institutions (FIs), disrupting every aspect of financial services, from the customer experience to financial crime.

One of the most compelling use cases for AI is in the battle against financial crime. AI has two primary benefits for the banks engaged in this battle: it can increase the effectiveness and efficiency of financial crime investigations, and the institutionalise risk management.

Financial institutions can employ AI to analyse large amounts of data, to filter out false alerts and identify complex criminal conduct. It can identify connections and patterns that are too complex to be picked up by straightforward, rule-based monitoring, or the human eye.

This points to four basic questions:

    • Are financial institutions ready to embrace advances in ML to help uncover emerging patterns for preventing fraud?

    • How can financial institutions harness expanded data typologies generated by new authentication processes for better fraud detection?

    • How can financial institutions manage the data orchestration challenges to leverage different data sources, integrate with other information, and factor in decision making across the entirety of the customer journey?

    • Approaches to create A.I. strategy that increases customer trust and maximises business advantages

    • Are financial institutions benefitting from better data orchestration?

Interested in getting the Agenda for this event?

Request a copy from our staff (opengov@opengovasia.com)

  • Chief Legal Officers
  • Chief Compliance Officers
  • Chief Risk Officers
  • Heads of Fraud and AML
  • Head of KYC / Monitoring & Screening
  • Heads of Cybersecurity
  • Head of Fraud Prevention and Analytics
  • Head of Investigation
  • Head of Customer Experience – Fraud & Security

OpenGov is pleased to invite you to our exclusive OpenGovLive! Virtual Insight aimed at imparting knowledge on how financial institutions can apply real-world AI & analytics applications to ensure a world-class integrated banking system that contributes to improve customer experiences, enterprise profitability, manage risk and regulatory compliance, anticipate fraud and create value from data.

This session serves as a great peer-to-peer learning platform to gain insights and practical solutions to understand the value of cutting edge technologies available to make better, faster, and more cost-effective, data-driven decisions.

We will be discussing:

    • Harnessing advanced analytics and AI technologies to enable a proactive, robust and unified strategy for enterprise-wide fraud and security intelligence

    • Delivering high-performance analytics and multiple detection methods to monitor more risks in very large data volumes

    • Integrating automation, AI and machine learning into financial crime programs and leveraging potential efficiencies

    • Developing new techniques for sound compliance practices for anti-bribery and corruption laws across jurisdictions

    • Aligning fraud and cyber teams to increase cyber resiliency and minimise risk

    • Strategies to break down data silos, adjust to shifting regulations, and safeguard against present and future risks

    • Utilising innovative technologies to protect data, customers, reputations, and compliance

    • Discussing intuitive supervised and unsupervised machine learning-based models to offer out of box processes

    • Standardising and managing strategic and operational risks and consolidate information into an enterprise-wide view of risk to strengthen governance and foster trust


Joseph Musolino

Global Sales & Strategy Consultant

Fraud and Security Intelligence


Mohit Sagar

Group Managing Director and Editor-in-Chief

OpenGov Asia



Contact person: Ellen Quek
Email: ellen.quek@opengovasia.com
Phone number: +65 6303 0683