Machine Learning Models
Risk score: likelihood of a fraudulent account
Account Takeover
Lightweight API; designed to function off events and automate data pushes
Webhooks
a way for traditional banks to compete against emerging Fintechs by exposing their core data via APIs so that they can be used by other non-banking systems
BaaS: Banking as a Service
establish customer identity; understand the nature of customers’ activities and qualify that the source of funds is legitimate; assess money laundering risks associated with customers.
KYC: Know Your Customer
Where the first ever Oscilar QBR was held
Boston
Pre-defined and custom organization of transactions for customer offers and management
Transaction Categorization
User is granted access to a website or application only after successfully presenting two or more pieces of evidence
MFA: Multifactor Authentication
Aimed at preventing criminals from using financial institutions to hide or launder money
BSA: Bank Secrecy Act
a document filed to track suspicious activities and to inform regulatory bodies about them by related institutions
SAR: Suspicious Activty Report
After Neha & Sachin, the first Oscilar employee
Karthik
Risk score: likelihood of transaction to result in this
Chargeback Fraud
third-party company that allows businesses to accept electronic payments, acting as intermediaries between those who make payments and those who accept them.
PSPs: Payment Service Providers
created by the U.S. Congress to maintain stability and public confidence in the nation's financial system, governing body in charge of oversite on sponsor banks
FDIC: Federal Deposit Insurance Corporation
an approach where an organization constantly monitors its IT systems and networks to detect security threats, performance issues, or non-compliance problems in an automated manner
Continuous Activity Monitoring
First ever Oscilar customer
Ask Steve
Quickly approve and decline decisions on monytey movement, complete with explanation
ACH
most common fraud vector, the act of tricking someone into behaving as a bad actor.
Social Engineering
Payment or lending services that are provided directly to consumers by companies that are not financial services firms; used to help consumers complete checkout experiences or access credit quickly
Embedded Finance
The address of Osciar HQ
111 Washington Ave
Classifies transactions & improves financial management/analysis to understand account balances
Spend Power Prediction
Program using a massive amount of text data to train a neural network. This neural network is then used to generate text, translate text, or perform other tasks.
LLMs: Large Lanugage Model
organization to safeguard the financial system from illicit use, combat money laundering and its related crimes including terrorism, and promote national security through the strategic use of financial authorities and the collection, analysis, and dissemination of financial
FinCEN
permits financial institutions, upon providing notice to the United States Department of the Treasury, to share information in order to identify and report to the federal government activities that may involve money laundering or terrorist activity.
314 (b)