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AI is changing the world as we know it. I'm please to present a great conversation i had with Brian Keef of Nice Actimize who are a leader in many things, but AI in Banking. In this Wrestling Payments episode, host Joe Casali interviews Brian Keefe, Manager of Portfolio Pre-Sales at Nice Actimize, about AI's transformative role in fraud detection and compliance. Brian addresses critical NACHA rule changes requiring institutions to monitor both incoming and outgoing ACH transactions, expanding beyond traditional outgoing-only oversight.

GUEST-AT-A-GLANCE

• Name: Brian Keefe
•  What they do: Manager, Portfolio Pre-Sales
•  Company: Nice Actimize
•  Noteworthy: Brian specializes in AI-driven fraud prevention and compliance for financial institutions, with expertise in cross-channel risk, monitoring, and regulatory adaptation.
•  Where to find him:https://www.linkedin.com/in/brianekeefe

KEY INSIGHTS

The AI Arms Race in Fraud Fraudsters now leverage AI to create synthetic identities and execute sophisticated attacks across multiple channels. Brian explains how criminals use AI tools like ChatGPT to mine data and build complete fake profiles, including deepfake photos. These coordinated groups share knowledge online and adapt quickly to new defenses. Traditional single-channel monitoring fails against these threats—institutions need cross-channel risk assessment covering ACH, checks, wires, and digital banking to spot patterns that isolated systems miss.

Explainable AI and Human Oversight Brian emphasizes that AI must be transparent, not a "black box." Financial institutions need explainable AI that shows why it flagged transactions, building trust with compliance teams and regulators. The "human in the loop" approach is essential—AI assists but doesn't replace experienced staff. As Brian notes: "AI should never replace what a human does, especially from the risk and compliance perspective." This partnership reduces false positives while maintaining regulatory compliance.

Practical Implementation Cross-channel monitoring has become mandatory as fraudsters exploit weaknesses across payment methods. By combining data from all channels, institutions get a complete risk picture and sharper alerts. Brian stresses continuous education through white papers and industry resources, noting that even conservative institutions must adapt because "fraudsters are always adapting and using the latest technology."

The key takeaway: AI should function as an assistant that enhances human expertise, helping teams work efficiently while staying ahead of sophisticated threats in our rapidly evolving digital payments landscape.