Unit21 Fraud Consortium

Hosting Consortium Connect, where we get our members together every few months, is always a valuable experience. We had an incredibly well-attended summit last week, where we chatted about data sharing and collaboration, emerging fraud threats in the world of AI, and our new Counterparty Risk Consortium. Some of our key takeaways were: ?? ?? Risk teams have been waiting too long. Cross-vertical collaboration between traditional FIs like Banks and Credit Unions, as well as Fintechs has never been done before. ?? ?? Privacy is paramount: Trust is key in data-sharing. Businesses are always looking for value, as long as their customers' information is not compromised. ?? ?? Embracing AI is supplementing job performance, even for fraudsters. To combat this, financial services companies are now implementing and using more risk signals than ever before. Are you looking for signal from 60+ companies and millions of users? Come talk to us. Request a demo using the link in comments.

We always love a good conference ??

? Interesting article from the CNN on the Healthcare industry's recent struggles with cyberattacks. While this in itself is causing delays in handling medical procedures, lab tests etc, it only gets worse when we take a step back and think about Protected Health Information (PHI). Quoting some stats below: ?? The number of sensitive data records held by the health care sector grew by more than 63% last year “far surpassing any other industry and more than five times the global average”.... ?? The technology that inspired our Fraud Consortium is already applied at mass scale in several medical processes. Mainstream adoption of Privacy preservation can help our healthcare system stay ahead of the curve, like our Fraud Fighters do. Article linked in comments #privacy #datasecurity #cybersecurity

Hey SF Fraud Fighters????? ? Next week, following FinovateSpring, Unit21?will be hosting our latest installment of the Risk & Compliance Leadership Dinner series, this time in our own backyard. Meetup in SF on Tuesday 5/21 to celebrate the Bay Area Fraud Fighting community, discuss industry trends, and enjoy a great meal!??? Request an RSVP now. Link in the comments. We hope to see you there!

Hey folks! Happy Friday. ?? At Unit21, we're all about staying on top of the game through constant customer interaction. Recently, we had a blast hosting "DAO Day", a roundtable where we got the most distinguished Fraud-fighting minds together! Guess what? We've condensed the juiciest takeaways from that event into five solid insights about Fraud. ?? Want to level up your Fraud-fighting game? Check out our latest blog post linked in the comments below! #FraudFighters

Our product was featured on Empire Startups - Everything FinTech in their latest blog post with Trisha Kothari. Link in comments

Fascinating article on data breaches from Bank Info Security yesterday. ?? A question for companies: Do you need all the info you say you need? We believe that there are two sides of analyzing customer onboarding requirements: 1?? Reviewing them every year to identify potential program enhancements 2?? Periodic security audits to ensure the company isn't holding on to more sensitive data than required. ?? Getting access to stolen personal information has never been easier in the age of Tor browsers. Further, sophisticated scams on society as a whole - be it employees, elders or unsuspecting day to day consumers, have made fraud fighters concerned heading into 2024. Shockingly, some examples in this article include Government agencies and traditional Banks. What are you doing to stay ahead of the curve? We'd love to hear it! PS: Article linked in comments #fraudfighters #fraudprevention #consortiumdata