Technology is rapidly advancing economic globalization and changing the way consumers interact with businesses all over the world. To meet this new demand, banks and financial institutions are creating new, innovative channels to meet the needs of changing consumer practices. New opportunities but also new financial risks to combat. Financial criminals are always looking for new vulnerabilities to exploit in the banking system. A siloed approach to bank fraud detection and prevention is not sustainable moving forward in our current global environment. Fraud orchestration could be the answer. A data synchronization platform that allows all pertinent data to flow into one centralized mission control, helping business silos sing on key when it comes to managing fraud.
Please take a look at this article from FCase on fraud orchestration and how it is the future of banks fighting back against financial criminals.
https://fcase.io/fraud-orchestration-will-keep-banks-on-key/
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