As banks continue to implement AI and machine learning, bank leaders should continue to educate themselves on the technologies’ benefits and pitfalls, assess the abilities of their team to adapt to and gain efficiencies from AI, and equip staff with the skills necessary to implement and manage it: https://lnkd.in/gUe8cWGj In this Bank Director article, Rippleshot CEO Canh Tran and strategic advisor Lisa Gold Schier share actionable tips on balancing opportunities and risks. Get their take, including insights from Julieann Thurlow, president and CEO of Reading Cooperative Bank and Jaime Manriquez, executive vice president and CIO at Santa Cruz County Bank. #banks #AI #GenAI #predictiveAI #machinelearning #bankingtechnology #fraudmitigation #bankoperations #fraudprotection
Rippleshot
Financial Services
Chicago, IL 1,726 followers
Fraud analytics platform that helps banks and credit unions predict and stop fraud from the use of compromised cards.
About us
Rippleshot is transforming the way that banks and credit unions detect fraud through a cloud-based technology solution that leverages machine learning and data analytics to distinguish fraudulent activity more quickly and efficiently. Rippleshot’s award-winning technology processes millions of payment card transactions to proactively pinpoint when and where a data breach occurred. Following detection, Rippleshot provides financial institutions with the tools they need to update fraud detection rules in order to lower their fraud losses while avoiding unnecessary card re-issuance.
- Website
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http://www.rippleshot.com
External link for Rippleshot
- Industry
- Financial Services
- Company size
- 11-50 employees
- Headquarters
- Chicago, IL
- Type
- Privately Held
- Founded
- 2013
- Specialties
- fraud analytics, data analytics, data breach detection, information security, credit card fraud prevention, fraud detection, machine learning, and artificial intelligence
Locations
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Primary
321 N. Clark Street
Suite 2550
Chicago, IL 60654, US
Employees at Rippleshot
Updates
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Rippleshot reposted this
It's crazy to say about about a breach with over a half billion users, but #TicketmasterBreach may just be the tip of the iceberg in this Snowflake access issue...
We’ve been tracking the continued fallout from the #Snowflake #TicketmasterBreach. As more merchants make headlines, it’s important to look beyond a single breach. What’s more problematic is the types of fraud that stem from credentials stolen from multiple data breaches. Synthetic ID Fraud, Account Takeover Fraud, Identity Theft Fraud, to name a few. FIs can better protect their cardholders when they know what threats they're up against. How breaches impact customer's digital identities is part of that equation. Developing an effective fraud mitigation framework requires proactive, rapid risk detection to prevent additional fraud before it occurs. Follow along to get our latest #databreach updates: https://lnkd.in/gmSmWwJR #databreach #snowflake #ticketmaster #banks #creditunions #fraudmitigation #databreachalert #fraudrisk #cardfraud #SyntheticIDFraud #ATOFraud #IdentityFraud
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We’ve been tracking the continued fallout from the #Snowflake #TicketmasterBreach. As more merchants make headlines, it’s important to look beyond a single breach. What’s more problematic is the types of fraud that stem from credentials stolen from multiple data breaches. Synthetic ID Fraud, Account Takeover Fraud, Identity Theft Fraud, to name a few. FIs can better protect their cardholders when they know what threats they're up against. How breaches impact customer's digital identities is part of that equation. Developing an effective fraud mitigation framework requires proactive, rapid risk detection to prevent additional fraud before it occurs. Follow along to get our latest #databreach updates: https://lnkd.in/gmSmWwJR #databreach #snowflake #ticketmaster #banks #creditunions #fraudmitigation #databreachalert #fraudrisk #cardfraud #SyntheticIDFraud #ATOFraud #IdentityFraud
Data Breach Update: The Fallout of the Ticketmaster Data Breach | Rippleshot
rippleshot.com
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Using predictive AI, generative AI and machine learning to enhance current operations and bolster fraud protection, banks have the potential to identify efficiencies and offer superior digital banking experiences. But they must balance adopting innovative AI solutions against ethical, compliance and regulatory challenges: https://lnkd.in/gUe8cWGj In this article on Bank Director, Rippleshot CEO Canh Tran and trusted C-Suite advisor Lisa Gold Schier detail how banks can transform their operations to become strategically resilient, drive growth and support their customers. Plus, hear from two banks on how they are exploring where AI fits into their roadmap. #banks #AI #GenAI #predictiveAI #machinelearning #bankingtechnology #fraudmitigation #bankoperations #fraudprotection Julieann Thurlow Jaime Manriquez
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The #TicketmasterBreach has made plenty of headlines. For financial institutions looking to protect their cardholders, there are critical steps you should take to proactively protect your organization and your cardholders against the fallout that happens after these major data breaches. Our latest breach update can get you up to speed with details on: ✅ What happened ✅ What to expect ✅ Actionable strategies to take next Stay up-to-date on this breach with the Rippleshot team: https://lnkd.in/gmSmWwJR #databreach #snowflake #ticketmaster #banks #creditunions #fraudmitigation #databreachalert #fraudrisk #cardfraud
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If you were at Bank Director’s Bank Audit & Risk Conference, we hope you caught our CEO Canh Tran during the breakout session with Wintrust Financial Corporation’s Sarah Grooms talking about the risks and opportunities of #GenerativeAI for #banks. Thanks for the great conversation and insights, Sarah! At the event, our CTO Yueyu Fu also sat on a panel about #AI and #CyberRisks. More soon, but for now—five recaps from the two sessions: ➡️ Community banks are already deploying Generative AI in several areas of the bank including customer relationships, fraud, and regulatory compliance. ➡️ Like any new technology, Generative AI carries risks and a strong policy and operational framework must be developed. ➡️ At the speed that Generative AI is moving, being a fast follower after the Tier 1 banks deploy, may not be the best strategy. ➡️ Banks should consider adding directors with AI experience to the board. ➡️ Generative AI carries risks, but if it can deliver double-digit increase in operating profit, the payoff could be exceptional. #BDAudit24 #banking #communitybanks #bankriskmanagement
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If you were at Bank Director's Bank Audit & Risk Conference today, we hope you caught Rippleshot CTO Yueyu Fu on stage talking about AI and cyber risks. Thanks for the great discussion, Benjamin LeClaire, CISA, Himanshu Sharma and Kiah Lau Haslett! #AI #banking #banks #bankriskmanagement #BDAudit24
Cybersecurity & #AI continue to be the most challenging #risks a #bank faces. Attendees learn what to do & how to protect their bank during this session with Yueyu Fu, Benjamin LeClaire, CISA & Himanshu Sharma, moderated by Kiah Lau Haslett. #BDAudit24 https://lnkd.in/eaiN6BUZ Rippleshot, Plante Moran, Baker Tilly US
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Fraudsters are getting smarter—is your organization equipped to keep up? Organized fraud groups are leveraging new tools and technologies to perpetrate fraud schemes at speed and scale. Like the new #RefundPhishing scams our fraud specialist Gregory Lenihan has been sharing details about. That's just one of many threats. Predictive analytics is where FIs of all sizes are gaining their edge. Every day fraudsters are finding new ways to infiltrate your card portfolio. Fraud and risk managers must have access to tools and data that help them do their jobs better and faster. To do so you need automated data analysis, enhanced card risk visibility and faster risk detection. You also need trusted fraud experts who can help you make sense of all that data and recommend fraud rules tailored to your specific pain points. Not sure where to get started? Our team of data and fraud experts can help.
The Data-Driven Approach to Proactively Getting Ahead of Fraud Risks
Rippleshot on LinkedIn
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At Bank Director's Bank Audit & Risk Conference? Don't miss the Rippleshot leadership team speaking at two AI-focused sessions on Tuesday June 11: ➡️ CEO Canh Tran at the session 'Generative AI: Risk and Opportunities – What Bankers Should Know' ➡️ CTO Yueyu Fu at the session 'Artificial Intelligence and Cyber Risks' #AI #banking #GenerativeAI #banks #bankriskmanagement #BDAudit24
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Will you be at Bank Director's Audit Risk Conference next week in Chicago? Don't miss the Rippleshot leadership team speaking at two AI-focused sessions on Tuesday June 11: ➡️ CEO Canh Tran at the session 'Generative AI: Risk and Opportunities – What Bankers Should Know' ➡️ CTO Yueyu Fu at the session 'Artificial Intelligence and Cyber Risks' Catch the full agenda: https://lnkd.in/eYX4GC2K #AI #banking #GenerativeAI #banks #bankriskmanagement #BDAudit24
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