💥 AI is rewriting the fraud playbook, and fintech is racing to keep up. A couple of weeks ago, Frederic N., Jimmy Chung, and Paulo da Silva joined Fintech Drinks by Fintech Cadence in Montreal to talk shop with leaders across the industry. Here’s what stood out: 𝟭. 𝗙𝗿𝗮𝘂𝗱 𝗶𝘀 𝗺𝗮𝘀𝘀𝗶𝘃𝗲𝗹𝘆 𝘂𝗻𝗱𝗲𝗿𝗿𝗲𝗽𝗼𝗿𝘁𝗲𝗱. An estimated $600M is lost annually in Canada, but only 5–10% is reported. That gap is costing us more than money. 𝟮. 𝗔𝗜 𝗶𝘀 𝗮 𝗱𝗼𝘂𝗯𝗹𝗲 𝗮𝗴𝗲𝗻𝘁. 🤖 It’s driving smarter fraud detection and enabling everything from fake documents to deepfakes. It's not about good or bad tech, it's about who uses it better. 𝟯. 𝗖𝗮𝗻𝗮𝗱𝗶𝗮𝗻𝘀 𝗮𝗿𝗲 𝗽𝗮𝘆𝗶𝗻𝗴 𝗮𝘁𝘁𝗲𝗻𝘁𝗶𝗼𝗻. 76% are worried about fraud impacting their finances. Fintechs that don’t prioritize trust risk losing more than just data. 𝟰. 𝗢𝗽𝗲𝗻 𝗯𝗮𝗻𝗸𝗶𝗻𝗴 𝗿𝗲𝗮𝗱𝗶𝗻𝗲𝘀𝘀? 56%. With 2026 around the corner, there’s real work to do to prep systems, teams, and rails before faster payments = faster fraud. ⏳ 𝟱. 𝗦𝘁𝗮𝗿𝘁𝘂𝗽𝘀 𝗮𝗿𝗲𝗻’𝘁 𝘀𝘁𝘂𝗰𝗸. Plug-and-play APIs, ethical AI, and layered security give them the chance to build trust-first without legacy baggage. 🚨 The takeaway? The fraud landscape is evolving - but so are the tools, the talent, and the tech. The fintechs who lean into collaboration, clarity, and trust will come out ahead. Big thanks to Fintech Cadence for leading the charge on these crucial conversations - and for having us! 🙌
Great takeaways! Thank you so much for joining us and being part of this crucial conversation, team Flinks!