Fraud and Cyber with John Meyer // Cornerstone Hot Takes

John, what’s the biggest opportunity investment bankers need to be thinking about when it comes to fraud and cyber?

Well, I think the first thing you can say is it’s going to go up. It goes up every year.

Okay.

Probably the three biggest areas we hear from our clients that are affecting them are in the areas of wires, debit and P2P fraud. That’s what comes up over and over.

Yeah. Are there any investments or technologies that you’ve seen that are sort of helping address any of these issues, or is it really just fundamental blocking and tackling and staffing?

We’re seeing a lot more of the transaction monitoring systems.

Okay.

Whether that be part of a big AML or fraud suite, or whether that be a point fraud product, there are a lot of them that are catching the transactions midstream and analyzing a variety of factors, whether that’s IP address, device fingerprint, amount consistency, time of day, day of week, all that good algorithmic stuff.

Then returning at least a score of, “We don’t like this,” or, “We do like this.” Very similar to how credit has been for years via Falcon and other tools.