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thorities, and just 4 percent of victims recover their lost payments industry," said Antony Cahill, president of val-
funds. ue-added services at Visa. "Together we will offer a valu-
able combination of cutting-edge technology and industry
Modern, proactive, AI-driven approach needed expertise to help our clients continue to grow amidst an
In its report titled Top banking fraud types to watch in 2025, increasingly complex threat landscape."
the Swiss company NetGuardians emphasized the need
for FIs to adopt advanced fraud prevention measures, in- But as Vincent explained, managing payments risk is only
cluding AI and ML tools, to detect and prevent fraud in one component of intelligent risk management.
real time. Traditional fraud tools just don't cut it anymore.
Cybercriminals are using automation, deep fakes and so- A modern risk management approach can significantly
cial engineering to outsmart outdated security measures, transform financial services, which in the case of SRA
the report noted. Watchtower, involves community banks and credit unions.
Benefits include improved risk mitigation, enhanced reg-
"Fraud is no longer just about stolen money, it's about ulatory compliance and better strategic decision-making.
trust," said Joel Winteregg, co-founder and CEO of Net- Leveraging risk intelligence also helps organizations
Guardians. "The sophistication and scale of modern fraud streamline operations, which can lead to more sustainable
schemes demand a proactive and secure AI-driven ap- growth.
proach."
The key to everything, however, is a willingness to em-
That's one reason why Visa acquired Featurespace in Sep- brace change. "You have got to get the right mindset first,"
tember 2024. "We developed our innovations to help crack Vincent said.
even the most complex fraud cases," Dave Exell, founder of
Featurespace, said at the time of the acquisition. Patti Murphy, self-described payments maven of the fourth estate, is
senior editor at the Green Sheet. She also co-hosts the Merchant Sales
"Both our companies have been at the forefront of using Podcast, and is president of ProScribes Ink.
AI to solve longstanding challenges and pain points in the

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