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Fiserv 16X9 Arial Template USING THE PAST TO MANAGE PAYMENT FRAUD RISK FORTUNE Magazine World's Most Admired Companies® © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 Speakers Andrew Davies VP, Global Market Strategy, Financial Crimes Risk Management, Fiserv Andrew Davies has 25 years experience in financial services and risk management with particular focus on AML, fraud, risk management, settlement risk and payment processing. He is responsible for working with Fiserv customers around the world to design and deploy effective financial crime risk management solutions. Andrew has experience working for and with organizations like Nomura, The Federal Reserve Bank of New York, the Continuous Linked Settlement Bank, ING, Sun Life, Manulife Financial, Citizens Bank, Deutsche Bank and the Bank of Tokyo-Mitsubishi, among others. FORTUNE Magazine World's Most Admired Companies® © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 Speakers Dave Richardson Senior Manager Fraud & ATM Operations First National Bank of Omaha Dave brings 19 years experience in fraud prevention field as it relates to various on-line channels, primarily within the financial services industry. He has successfully created a best-in-class fraud prevention team responsible for monitoring and mitigating fraud against consumer, business, and commercial bank accounts. He is an expert at building out tools to prevent losses through ACH, wire, ATM, and mobile channels. Also, he has developed risk control guidance for mobile banking deposit products, on-line money movement, business mobile banking, and enterprise-wide transaction monitoring. His approach focuses on the impacts of fraud prevention to the customer experience. He is focused on building out fraud prevention practices with minimal negative customer experience. FORTUNE Magazine World's Most Admired Companies® © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 In This Session As Faulkner said, “The past is never dead. It’s not even past.” Managing risk and customer experience in a world of real-time payments continues to be a challenge. We will discuss the key ways to maintain a view of the payment life cycle and identify risk indicators in a connected environment while enhancing the customer experience. In this session, we will discuss the following: • Payment landscape • Fraud landscape • Faster payments • Leveraging data in fraud prevention FORTUNE Magazine World's Most Admired Companies® 4 © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 Several Indicators Point to the Continued Challenge of Managing Risk 61% increase in account take 84% increase in mobile remote over losses deposit capture fraud losses • Losses are not slowing down • Call centers are being challenged • Mobile is growing concern • Continued breaches enable • Checks as a whole are coming back social engineering • No longer part of doing business Faster Payments was implemented in $16B in losses for identity theft May 2008 in the U.K. • Competitive advantage as a • Highest number of victims: 16.7M • Result was a 132% increase in differentiated • EMV® breaches fan the fire online banking fraud compared to service 2007. Source: Javelin Strategy & Research, 2017; Aite Group, 2017; Nilson Report, October 2017; Market Research Future 2017; EMV ® is a registered trademark or trademark of EMVCo, LLC in the United States and other countries around the world, 2018. FORTUNE Magazine World's Most Admired Companies® 5 © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 Blockchain, Evolution of Financial Crime Mitigation Biometrics, Artificial Intelligence and Machine Learning Hybrid Analytics Scoring Expert Rules In a world of Leverage internal increase data and Investigations and consortium faster speed of data and deeper technology learning algorithms continues to impact to increase scoring the mitigation of Leverage Leverage Science precision and fraud at the speed of automated rule and Fraud uncover more life. Reliance on systems written Consortiums to build scoring on fraud across all Investigators to by experts to flag stop fraudsters single channels channels suspicious things that reduce fraud 1980 1995 2000 2015 2018 The Evolution of Financial Crime Solutions FORTUNE Magazine World's Most Admired Companies® © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 New Entrants and Alliances FORTUNE Magazine World's Most Admired Companies® 7 © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 User Options to Access Products Across Multiple Platforms Create Complexity Mobile Login credentials Social media Debit cards Voice messaging Desktop Knowledge-based Credit cards Text Tablets Wallets One-time password User Gaming ACH App Banking Fingerprint ATMs Cryptocurrency Website Alternate payments Facial Branch FORTUNE Magazine World's Most Admired Companies® 5 © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 The World Is Changing – Pace Is Accelerating Simple digital Transactions Integration experience • Days, weeks • Next day • Instant, real time • Customer service • Self-service • Customer experience • Transactions • Pay online, mobile • One-click • Multistep • Contactless • Biometrics • Physical location • Regulation • Tokenization • Cyber security • Card-free • Social media • AI • IoT / IoE FORTUNE Magazine World's Most Admired Companies® 9 © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 ‘Improvements to Speed and Efficiency Are Transforming Banking’ 73% Consumer expectations Safer Consumers say direct deposit via are driving innovation than paper ACH helps them pay bills on time Reduced risk Convenience and access to money 87% over other payment methods Users are highly satisfied with direct deposit Direct deposit users Faster are predominately fans of technology access to pay 82% Number of American workers paid through direct deposit FORTUNE Magazine World's Most Admired Companies® 10 © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 Banks should plan for a ‘real-time everything’ future – more than just a payment type, real time will underpin everything digital that a bank does. – Celent, June 2016 FORTUNE Magazine World's Most Admired Companies® 11 © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 Identity Fraud Victims at Record High and Losses Continue to Rise Fraud Losses (U.S. Billions of Dollars) Millions of U.S. Fraud Victims $22.10 16.7 15.4 $19.30 13.1 13.1 $16.40 $16.20 $16.80 12.6 12.7 $15.50 2012 2013 2014 2015 2016 2017 2012 2013 2014 2015 2016 2017 Source: Javelin Strategy & Research, “Identity Fraud Study,” 2018 FORTUNE Magazine World's Most Admired Companies® 12 © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 Multiple Fraud Types Target Digital Channels Q. What are the top three types of fraud attempts you are seeing in digital 68% channels in 2017? (N=19) 47% 37% 32% 26% 16% 16% 5% ATO Application First-party mRDC Credential CNP fraud Business email OTP fraud / ID theft / fraud / scams validation compromise / compromise synthetics wire fraud Source: Aite Group, “Digital Channel Fraud Mitigation: Market Trends Influencing FI Strategies,” November 2017 FORTUNE Magazine World's Most Admired Companies® 13 © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 Digital Channel Losses Are on the Rise Q. Are your online / mobile fraud losses trending up, down or flat over the past 2 years ? (N=19) Down 5% Flat Up 21% 74% Source: Aite Group, Interviews with 19 large North American FIs, July – September 2017 FORTUNE Magazine World's Most Admired Companies® 14 © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 Analytics Drive Improved Detection and Frictionless Experience • Smarter people, smarter machines • Artificial intelligence (AI) leading to process automation – not just analytics • Computing power is changing what is possible FORTUNE Magazine World's Most Admired Companies® 15 © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 FI Fraud Prevention Moves to Mobile-First Consumers don’t leave home without their mobile devices, and they want to do more and more with them: • Payments • P2P transfers • Account opening • Online shopping and so on FIs must meet consumers’ needs via their mobile devices or risk losing them to competitors. FORTUNE Magazine World's Most Admired Companies® 16 © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 FI Fraud Prevention Moves to Mobile-First (Continued) The mobile device can serve as the foundation for authentication in ... All channels, including: • Online • Contact centers • POS Aspects of authentication: • Device fingerprinting • Biometrics on device • Geolocation • Behavioral biometrics • Identity document verification • One-time passwords • Mobile network operator data FORTUNE Magazine World's Most Admired Companies® 17 © 2018 Fiserv, Inc. or its affiliates. | CONFIDENTIAL – LIMITED 2014 | 2015 | 2016 | 2017 | 2018 5 Tips to Help You Manage Your Fraud Challenges Leverage • Reduce abandonment
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