MINNEAPOLIS - (06/06/06) -- Fair Isaac Corp., the provider ofthe popular Falcon Fraud Manager for credit and debit cardtransactions, announced the launch of a system aimed at detectingfraud in online transactions. Falcon One for Online Access providesneural network-based transaction monitoring that learns customerbehavior patterns and recognizes suspicious transactions, includingpatterns of transactions spanning online and debit, branch andcredit transactions. The system uses account information gleanedfrom other fraud protection systems to provide complete coverage ofcustomer assets and channels that access them. The system alsomonitors the details on the electronic behavior of the Internetcommunications channel used during an online session. Thiscontinues throughout the session in order to thwart'man-in-the-middle' attacks where a legitimate session ishigh-jacked by an imposter.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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