Jerry Tylman, Founder of the Fraud Red Team, on the gaps in fraud detection systems

Fintech One•On•One

Every bank and fintech company has a suite of anti-fraud tools that they use to keep the bad guys out. Few tools are 100% effective, however, and often the implementation of these tools, along with their interfaces with other system leave gaps. And the fraudsters will exploit these gaps. So, how do you get a holistic view of your anti-fraud arsenal and discover where these gaps are?

My next guest on the Fintech One-on-One podcast is Jerry Tylman, the co-founder and partner at Greenway Solutions and the founder of their Fraud Red Team. The Fraud Red Team is all about discovering the gaps, where the weaknesses in the anti-fraud systems are. They are 100% focused on financial services, working with many of the largest banks in the country as well as several fintech companies.

In this podcast you will learn:

• How Greenway Solutions became focused on financial services.
• What a pen test is and the groundbreaking work they do with fraud controls.
• The different attack vectors that fraudsters use.
• Why banks and fintechs need the services of the Fraud Red Team.
• How successful they are in penetrating the fraud detection systems.
• How they interact with the anti-fraud providers to banks and fintechs.
• An example of a recent test they have done that penetrated anti-fraud systems.
• How they tackle the challenge of account onboarding.
• Why behavioral technology is a key piece of the puzzle.
• How deepfake video and audio are being used by fraudsters.
• The fascinating way that the Fraud Red Team works with deepfakes.
• Why companies have to completely rethink their internal authentication today.
• Some of the fintechs they have worked with recently.
• How they work with check fraud and why it is a growing problem.
• Why all financial institutions cannot stop investing in anti-fraud tools.

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