Virtual Expert Panel

Build, Buy or Rent: Sustainable Fraud Risk Management

What you will learn in this webinar

Financial Crime 4.0¹ layers on multiple techniques and tools to make each fraud attack unique and hard to predict. Today, detecting, investigating and preventing fraud has become even more of an uphill struggle for financial institutions (FIs) of all sizes. With financial crime evolving constantly into new patterns and complexities, how then can FIs create fraud and compliance risk management that can easily adapt and scale to the changing face of fraud?

Many FIs enter into the common dilemma of “Build, Buy, or Rent” when they are required to setup or overhaul their fraud risk systems. Our Expert Panel weighs in on the pros and cons of each option and what FIs should be considering to be effective against modern day financial crimes.

Here are the different considerations for FIs before deciding

Icon for fraud detection and protection

Integrating with existing ecosystems within the enterprise, data control, information security and privacy, and interfacing APIs.

Maintaining systems and ensuring efficient knowledge transfer is essential to ensure that system integrations and interfaces continue to work once FIs decided to build.

FIs needed to formalise anonymised data sharing internally and externally through heuristic algorithms and machine learning models to overcome privacy challenges.

Evaluating the resources that are available in terms of investment and costs, expertise, infrastructure, and ease of implementation.

Expert panellists

Moderated by Dev Dhiman, Managing Director, Asia-Pacific, GBG

Jayant Raman

Global expert on Cyber risk management | Oliver Wyman

Sidhartha Dash

Research Director | Chartis Research

Patricia Sanz

Head of Financial Crime Investigations | HSBC

Dev Dhiman

Managing Director APAC | GBG

Expert Panel Highlights

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The reality about today’s fraudster

Fraud attacks are state of the art, innovative and unpredictable, which bags the question if basic rule-based engines are adequate.

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Learnings from using an in-house, IT-built fraud solution

A drill down into meeting short term and long term objectives for financial institutions using a fraud system developed in-house.

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Understanding which solutions FIs should build, buy, and rent, and why

Considering core and peripheral systems, infrastructure and application layer.

Watch now

Tune in to expert insights on the factors influencing the decision to build, buy, or rent fraud risk management systems, the possible pitfalls to these options, in the backdrop of cyber and financial crime