DataVisor Joins BHB BaaS Association to Enhance Fraud Prevention Best Practices for Sponsor Banks and Fintechs
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FOR IMMEDIATE RELEASE
October 24, 2024 – [AUSTIN, TX] The Banking as a Service (BaaS) Association is pleased to welcome DataVisor, a leading AI-powered fraud and risk platform, as its newest member. By joining the BaaS Association, DataVisor is committed to sharing best practices for fraud and risk programs that enhance compliance, risk mitigation, and transparency within the BaaS and embedded banking ecosystems. |
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Embedded banking and BaaS offer community banks significant opportunities to expand their services and reach new customer bases. To capitalize on these opportunities, new fraud and risk strategies are essential for ensuring compliance, risk mitigation, and transparency within the BaaS ecosystem.
"As community banks navigate the evolving landscape of BaaS and embedded banking, robust fraud prevention and risk management are more critical than ever. DataVisor's expertise will be invaluable in helping our members protect themselves and their customers,” said Dave Mayo – Founder of the BaaS Association.
While collaboration between banks and fintech partners is crucial, it must be complemented by clearly defined roles in compliance and fraud mitigation to foster accountability. By redefining risk and responsibility within the BaaS framework, banks can navigate regulatory challenges and support sustainable growth in the digital banking era.
As the financial industry continues to evolve, embedded banking and Banking as a Service have emerged as significant opportunities for community banks to expand their services and reach. By integrating banking services directly into non-financial platforms, banks can tap into new customer bases and revenue streams.
"We are excited to join the BaaS Association and contribute to the creation of safer, more compliant, and successful embedded banking programs,” said Brenda Banks, VP of BaaS and BSA at DataVisor. “While BaaS offers significant opportunities, it also presents unique risks fraud prevention risks and regulatory concerns. By collaborating with the BaaS Association, we aim to establish best practices that empower sponsor banks to redefine their risk strategies and enhance accountability within the ecosystem."
About DataVisor
DataVisor is the most comprehensive fraud and risk platform powered by sophisticated AI and modern machine learning capabilities. DataVisor empowers customers to protect against future attacks before they happen by detecting and acting on rapidly evolving fraud patterns in real time. DataVisor’s adaptable solution and data-driven approach provides businesses with unparalleled protection in an ever-evolving digital landscape.
DataVisor’s award-winning solutions and continuous innovation make them the trusted partner of choice for Fortune 500 companies and leading organizations worldwide, specializing in financial services, banking, credit unions, fintech, and payments.
About The BaaS Association
The BaaS Association is the voice of the BaaS (Banking-as-a-Service) industry. The association promotes, supports, and advocates for BaaS sponsor banks which help serve millions of customers in a safe and compliant manner. The BaaS association represents over 80% of current BaaS sponsor banks operating across the United States.
The BaaS Association provides education, collaboration, and best-in-class practices that serve the unique needs of BaaS Sponsor banks. The BaaS Association also helps establish sound bank-fintech partnerships, including those who provide banking services for underbanked and underserved communities. For more information visit www.thebaasassociation.com
Media Contacts
The BaaS Association
Rachel Hernandez
[email protected]
DataVisor
Tara Strazdas
[email protected]
"As community banks navigate the evolving landscape of BaaS and embedded banking, robust fraud prevention and risk management are more critical than ever. DataVisor's expertise will be invaluable in helping our members protect themselves and their customers,” said Dave Mayo – Founder of the BaaS Association.
While collaboration between banks and fintech partners is crucial, it must be complemented by clearly defined roles in compliance and fraud mitigation to foster accountability. By redefining risk and responsibility within the BaaS framework, banks can navigate regulatory challenges and support sustainable growth in the digital banking era.
As the financial industry continues to evolve, embedded banking and Banking as a Service have emerged as significant opportunities for community banks to expand their services and reach. By integrating banking services directly into non-financial platforms, banks can tap into new customer bases and revenue streams.
"We are excited to join the BaaS Association and contribute to the creation of safer, more compliant, and successful embedded banking programs,” said Brenda Banks, VP of BaaS and BSA at DataVisor. “While BaaS offers significant opportunities, it also presents unique risks fraud prevention risks and regulatory concerns. By collaborating with the BaaS Association, we aim to establish best practices that empower sponsor banks to redefine their risk strategies and enhance accountability within the ecosystem."
About DataVisor
DataVisor is the most comprehensive fraud and risk platform powered by sophisticated AI and modern machine learning capabilities. DataVisor empowers customers to protect against future attacks before they happen by detecting and acting on rapidly evolving fraud patterns in real time. DataVisor’s adaptable solution and data-driven approach provides businesses with unparalleled protection in an ever-evolving digital landscape.
DataVisor’s award-winning solutions and continuous innovation make them the trusted partner of choice for Fortune 500 companies and leading organizations worldwide, specializing in financial services, banking, credit unions, fintech, and payments.
About The BaaS Association
The BaaS Association is the voice of the BaaS (Banking-as-a-Service) industry. The association promotes, supports, and advocates for BaaS sponsor banks which help serve millions of customers in a safe and compliant manner. The BaaS association represents over 80% of current BaaS sponsor banks operating across the United States.
The BaaS Association provides education, collaboration, and best-in-class practices that serve the unique needs of BaaS Sponsor banks. The BaaS Association also helps establish sound bank-fintech partnerships, including those who provide banking services for underbanked and underserved communities. For more information visit www.thebaasassociation.com
Media Contacts
The BaaS Association
Rachel Hernandez
[email protected]
DataVisor
Tara Strazdas
[email protected]
Source: FI FinTech Newsroom