Article: Oracle unit partners with Everest to bring blockchain to banks worldwide

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Oracle unit partners with Everest to bring blockchain to banks worldwide

Gertrude Chavez-Dreyfuss, 14 July 2021

NEW YORK (Reuters) – Oracle Financial Services Software Ltd, a unit of Oracle Corp, has teamed up with financial technology provider Everest to bring blockchain to banks worldwide to enhance their product offerings, Everest Chief Executive and co-founder Bob Reid said.

Oracle Financial’s software is used in retail and corporate banking as well as the insurance sector.

Everest, whose blockchain technology enables a wide range of financial services, said it recently worked with the Asian Development Bank on the Central Bank of Samoa’s regulatory compliance platform. Everest is also a licensed custodian of cryptocurrencies. Continue reading “Article: Oracle unit partners with Everest to bring blockchain to banks worldwide”

Article: How to conquer synthetic identity fraud

Article - Media

How to conquer synthetic identity fraud

Carey O’Connor Kolaja, 29 June 2021

“No single organization can stop synthetic identity fraud on its own,” reports The Federal Reserve. “Fraudster tactics continually evolve to stay a step ahead of detection—and the most sophisticated fraudsters can operate at scale in organized crime rings, generating significant losses for the payments industry. It is imperative that payments industry stakeholders work together, share information and keep up with the threat.”

Synthetic fraud is today’s fastest-growing type of financial crime. To make matters worse, up to 95% goes undetected by regular fraud models, as these actors behave, act and look like regular customers that neither the human eye nor highly complex computer vision methods would have detected. Continue reading “Article: How to conquer synthetic identity fraud”