For all that digital finance affords banks and their customers—an enhanced experience, the ability to conduct financial transactions across channels, and the real-time delivery of hyper-personalized products tailored to specific customer needs—its downside is the unprecedented acceleration of fraud created by generative artificial intelligence (GenAI). In fact, synthetic identity fraud is projected to account for at least $23 billion in annual losses by 2030.
This has created an urgency for banks to develop new systems that detect and prevent these increasingly sophisticated schemes – prioritizing identity-based fraud prevention and AI- and machine learning-powered tools.
Tune in on Wednesday August 6th at 2pm ET as Penny Crossman, Executive Editor, Technology at American Banker joins Gasan Awad, SVP, Fraud Director, Enterprise Fraud Product Management at PNC Bank and Chris Briggs, Chief Product Officer at Mitek to discuss how network analytics, GenAI modeling and biometric technology are expected to have a significant impact on detecting and preventing digital fraud.
Topics discussed will include:
- The growing frequency and increasing sophistication of the various types of digital fraud
- What technologies are empowering fraudsters and where the greatest impacts will be felt
- A deep dive on the influence of GenAI and how it's leveraged to create convincing deepfakes
- How banks can create a security culture that relies on adaptability and collaboration
- The roadmap needed to implement AI-driven tools, biometrics and analytics to combat fraud
LEADERS is a flagship channel that spotlights C-level executives and top experts as they discuss transformative topics for an audience of key decision-makers. We deliver thought leadership on the most pressing issues driving financial services. The LEADERS series is made possible by the support from top industry collaborators including Mitek.
