Watch the highlights from the events with the above video!
On the 26th September 2019, Synectics Solutions hosted its first annual conference, which focused on Fraud and Financial Crime in the Age of Digital Identity. With over 200 attendees from across the financial services sector at the event, it provided a great environment for delegates to hear from industry experts, engage in topical panel discussions and network with peers.
Synectics welcomed a variety of partners who exhibited on the day including: The Cabinet Office, Emailage, TransUnion, Equifax, Vulnerability Registration Services, Phronesis Technologies and IBM.
The conference was facilitated by Catriona Still, Principal of Economic Crime at UK Finance who opened the day and welcomed each speaker to the stage. Catriona also offered her opinions on each topic and encouraged questions from the delegates to spark discussions on relevant themes.
The main plenary session included topical presentations by market leading experts from: IBM (Shaked Vax), Cabinet Office (Rob Malcomson) and Synectics Solutions (Rich Wood). Each gave their opinions on how a digital identity will shape the fraud and financial crime landscape and what needs to be done to aid the growth and adoption of digital ID in the UK.
Mark Button, Director of the Centre for Counter Fraud Studies at the University of Portsmouth presented the findings from research commissioned by Synectics Solutions to uncover the true cost of external fraud. When measuring the cost of fraud organisations often only report direct losses and don't take the time to evaluate all of the other consequential costs associated to fraud, such as investigation costs, legal fees and human resource costs. The report uncovered that £8,248 is the average consequential cost for frauds less than £25,000.
To close, a panel of financial crime specialists from Yoti, TransUnion, The Cabinet Office, IBM and Synectics Solutions took questions from the delegates and provided their expert opinions on digital identity, ID&V, analytics and what the future of fraud and financial crime prevention will look like.
Read more about this event in our next edition of Connect. You can subscribe to Connect by clicking here and filling out the form. You'll receive updates as soon as new editions are published, straight to your inbox.
Throughout the course of the day, we had a photographer on hand to capture the best moments of our conference. View the gallery below: