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How Can FIs of All Sizes Develop Fraud Models and Assess Risk Profiles – without ‘Breaking the Bank’


Date 11:10 AM - 12:00 PM (0 hours 50 minutes)
Wednesday, May 08
Cybersecurity & Risk

Fraudsters are becoming increasingly sophisticated in executing fraud in real time, and many financial institutions still struggle to combat this issue. In the past year alone, roughly two-thirds of financial institutions have encountered various forms of fraud attempts. Some banks and credit unions have turned to fraud risk platforms, particularly in helping with real-time decision-making for countering check fraud, wire fraud, and ACH fraud. 

However, smaller financial institutions face obstacles in assessing transaction risks, mainly due to their limited access to account information for a small segment of the population. This is where the consortium database model comes in. In this conversation, speakers will discuss how, by leveraging a comprehensive dataset, even the smallest financial institutions can develop sophisticated fraud models, assess the risk profile of a new customer based on historical behavior at other banks, and offer tailored strategies.


Ian Mitchell
Ian Mitchell
Founder and Board Chair, The Knoble
Co-Founder, Mission Omega