Risk Management Technologies The Latest & Greatest from Throughout the Industry

Transcription

1 Risk Management Technologies The Latest & Greatest from Throughout the Industry John Leekley, Founder & CEO RemoteDepositCapture.com Be sure to tweet about the #RDCSummit and

2 Perspective Perspective is Important Neutral RemoteDepositCapture.com is the industry s de-facto trade association. Expert Exclusive Consultants and Trainers for the FFIEC Insider Work with the vast majority of solution providers Dozens of NDA agreements signed 2

3 Disclaimer RemoteDepositCapture.com does not officially endorse and company, product or service. Because we work with the majority of the industry, many of the companies or products are indeed from our clients, but some are not. Please ensure you do your own due diligence. 3

4 Technology What Has Changed? Bandwidth, processing speed Rules, Regs & Legislation Check 21, FFIEC Guidance, etc. Industry Initiatives Faster Payments Available Solutions Changing Fraud Landscape EMV! 4

5 KYC Upfront & Ongoing Social Media ContractPal Versium KYCSite Scan Life Data 5

6 KYC - Ongoing What has changed??? Credit Score? Moved? Job Change? Drop in Balances? New loans? Social Media & Life Data represent a huge opportunity to improve service and better manage risk. 6

7 Reactive Behavioral Analytics Systemic Data Deposit patterns Predictive (Life Data) New Loans College Education Job Information 7

8 Enterprise Risk Management mega 8

9 Intelligent Fraud Solutions NCR Fractals Enterprise Fraud Analytics Transactions Payments, Transfers Various Payment Types Behavioral Logins, Loan apps, new account openings, Personal Data, etc. Channel Mobile, Online, Branch, ATM, etc. 9

10 Location Awareness Knowing where a transaction originates can prevent fraud and enhance compliance. Software (PC) Scanner / Device Mobile 10

11 Scanner Analytics Q: What is the most valuable piece of data generated by your RDC activities? A: Scanner Performance. Image Quality / Rejects Scanner Errors Impacts: Payment Processing Accuracy, timeliness Added Processing Expense 11

12 Check Fraud 12

13 Duplicate Detection Detective Suite Dupe Detective Fraud Detective Risk Detective 13

14 Intelligent Endorsement Detection Detection is good, but Intelligence is better! Legal Implications FI: Ensures FI can accept Deposit Can ensure For Deposit Only is to your FI! Corp.: Ensures Check can be deposited to account Helps avoid errors with centralized bank-neutral solutions. 14

15 Verification & Guarantee 15

16 Two Major Trends Risk Dashboards The move to Real-Time Rules & Analytics to ID Exceptions before acceptance / posting / clearing. IQA / IQU Thresholds Duplicates Cross-Channel, X-Payment Duplicates Kiting Enterprise Risk Leading RDC Solution Providers are constantly upgrading their offerings. Much of their latest work has focused upon risk identification, reporting and actionability. 16

17 USAA Leading the way Integration of EWS Deposit Check Service enabling real-time availability decisioning Regions Bank Value based, Service Oriented Product Offering Check Cashing, Expedited Availability, Standard Service Solution Providers Omni-Channel Enterprise Risk Management Verification & Guarantee 17

18 Enterprise Visibility Shared Databases On The Radar Treasury Positive Pay Duplicates Behavioral Biometrics EWS, others Client Risk Scoring 18

19 What s on YOUR Radar? 19

20 Questions? 20

21 About The Presenters John Leekley 21