This siloed approach is insufficient to address the sophisticated challenges posed by advancing technology. To combat emerging threats, banks must adopt innovative learning processes and tools that offer a unified, advanced perspective on data. Tackling synthetic ID-driven fraud demands connecting internal and external datasets to enrich insights, enabling a deeper contextual understanding of customers, transactions and relationships. Yet, the challenge is not solely about integrating these datasets — it’s about delivering critical insights at speed and scale. Accurate fraud detection and minimizing false positives must occur in real time to keep pace with faster payment systems and shrinking detection windows. Banks no longer have the luxury of extended decision-making timeframes as fraudsters exploit the rapid expansion of new payment rails. The solution lies in constructing a contextual view of customers, counterparties and their interconnected relationships that goes beyond analyzing individual transactions. Incorporating context into data is pivotal. Achieving this requires a strong data foundation that merges internal and external datasets with intelligence about the relationships between entities — people, organizations and places — at scale, fostering a holistic understanding of risk. This represents the next evolution of fraud risk management — a unified framework that spans fraud types, channels and products, leveraging advanced data and analytics. As fraud volumes increase and synthetic identities become more prevalent, banks can no longer rely on existing systems alone for accurate decision-making. A shift to powerful, cutting-edge technology is essential to address and prevent these risks effectively. Steve Lenderman has over 25 years of experience in the financial crimes sector and currently serves as the head of fraud prevention at isolved, a human capital management (HCM) technology leader that helps organizations deliver a better work experience by streamlining payroll, HR, benefits and talent management. Prior to isolved, he was the head of fraud solutions North America at Quantexa, where he used AI to aid clients in combating fraud, financial crimes and regulatory compliance. His previous roles include SVP of fraud prevention and investigations at Bank Mobile Technology (BMTX), director of strategic fraud prevention at ADP and fraud operations lead for PayPal Business Loans. At Barclaycard US, he managed major investigations, internal investigations, bust-outs, credit abuse and synthetic identities. A recognized industry expert, Lenderman co-chairs the Bust Out Synthetic Identity (BOSI) working group, is president of the ACFE Delaware Chapter and regularly speaks at fraud conferences and trainings. He holds a criminal justice degree from the University of Delaware and is a certified fraud examiner. 32 NEBRASKA BANKER
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