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Effectiv: Tackling the Surge of Cyber Threats in Credit Unions
Manage episode 407485350 series 3563043
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In this insightful episode of VentureTech Launch(pod), we dive into a crucial discussion with Ravi Sandepudi, CEO of Effectiv, about the growing challenges of fraud in the credit union sector. Ravi, with his extensive experience of nearly two decades in fraud detection, sheds light on the alarming increase in digital fraud, particularly as credit unions rapidly transitioned online during the pandemic.
Effectiv, a fraud detection software company, is at the forefront of this battle, offering cutting-edge AI-based solutions to protect credit unions and their members from sophisticated cyber threats. Ravi reveals startling statistics, noting that fraud in the U.S. amounts to a staggering 90 billion dollars, emphasizing the multifaceted impact on financial institutions beyond just monetary losses, including operational, reputational, and regulatory costs.
This episode offers a compelling look into the escalating issue of digital fraud in the credit union sector and how companies like Effectiv are employing sophisticated technologies to safeguard institutions and their members. Ravi Sandepudi's insights highlight the evolving landscape of financial security and the critical role of fintech innovation in addressing these challenges.
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