Fintech Insider Podcast by 11:FS
956. Insights: The product leader’s guide to fighting fraud
Apr 24, 2025
Monica Millares, Chief Product Officer at BigPay, focuses on digital natives in Southeast Asia, while Tony Brancato, from Charlie, champions banking for retirees. Joe Colchester, leading product at 11:FS Pulse, shares insights on combating modern fraud. They dive into sophisticated scams, including AI-driven tactics and emotionally manipulative strategies. The conversation explores how fintechs are leveraging technology to create robust defenses, emphasizing the importance of proactive education and tailored strategies, especially for vulnerable populations.
44:47
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- The modern fraud landscape necessitates fintech product leaders to innovate early in product development to effectively combat evolving scams.
- Education and community involvement are essential for empowering users to recognize fraud, thereby enhancing security measures alongside technological advancements.
Deep dives
The Evolving Landscape of Fraud
Fraud is increasingly prevalent, with reported losses exceeding $12.5 billion in 2024 alone, marking a 25% rise from the previous year. The evolving nature of fraud reflects the shift towards digital payments, as scammers leverage advanced technologies like artificial intelligence and emotionally manipulative tactics. Specifically, romance scams have surged, particularly among vulnerable populations, such as retirees. This creates a pressing need for financial institutions to stay ahead of these threats through innovation in fraud prevention technologies.
