Let’s Re-Imagine A World Without Fraud:
Learn Latest Advances In FinTech Sector With the Money 2.0 Conference!
Table of Contents 1
2 Introduction
Technological Advances To Fight Fraud
Introduction →
Our safety is a concern, our finances cause us anxiety, and our identity and financial security are both concerns. There are valid explanations for this, too. We are fortunate that technology is developing in a variety of valuable ways that enable banks, credit card companies, and several other financial institutions to safeguard our money and our identities better.
The upcoming slides contain a few examples of the several technology advancements used in the
Technological Advances To Fight Fraud→
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Artificial Intelligence Providing Financial Security The tool we need to win this battle is AI. Credit card firms are using AI to assist in the detection of fraud.
● One of the most frequently targeted sectors by cybercriminals is credit cards, which are regularly the target of hackers and fraudsters. However, by applying AI, card companies and cardholders may get quick notifications at the first sign of strange activity. ● The sooner the credit card companies and we are made aware of any indications of fraud, the sooner we can take action to stop the offenders and put things right. ● Additionally, we are better able to spot fraud in the future the
Biometrics Is The Future Of Finances ● Biometrics uses our physical measures, bodily attributes, and physical characteristics to identify ourselves. ● Voice recognition, fingerprint scanning, facial recognition, iris recognition, vein pattern authentication, and heart rate sensors are a few examples of how this is employed in security. ● The banking and credit card industries are just two examples of the various sectors, businesses, and products that use biometric security. ● Although it will be interesting to observe where this sector develops, it is safe to conclude that biometrics will remain a crucial instrument for financial security.
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Blockchain Catering To Transparency & Security Most of the facts in the preceding paragraph may sound pretty futuristic and sci-fi, yet blockchain technology beats them all.
● Blockchain technology functions as a database where digitally stored data is kept. Cryptocurrency transactions are secure and distinct from the highly centralized, bureaucratic systems in which big banks operate, as you've probably heard about cryptocurrency systems. ● A blockchain is a publicly available, highly hard-to-change digital ledger of transactions. Every transaction is documented, permanently recorded, and accessible at any moment in each participant's ledger.
Make A Room For Virtual Credit Cards ● Virtual credit cards already exist; you may use your digital wallet to make purchases online or offline using these unique credit card numbers. And to use this technology, you don't even need to apply for a new credit card. ● Your present credit or debit card can frequently be instantly converted into a virtual card by simply adding it to your digital wallet. ● Some card issuers let you create a virtual credit card for onetime usage, which you may delete after using to make a purchase. ● Online transactions now have a whole new degree of security
Thank You!
This Presentation Is Prepared By
Jhanvi Saxena, Manager, Money 2.0 Conference