SF ACFE FinTech Fraud Summit - March 17th, 2017 - San Francisco, CA

FinTech Overview and Emerging Trends

FinTech Trend

2017- PAGE 2

ONLINE LENDING

P2P INSURANCECROWDFUNDING

Financial Technology “FinTech” has seen an explosive growth for the past decade. The digital revolution started with the advent of Automated Teller Machine, ATM in 1967.

FinTech’s mission is to broaden access to credit, incase banking services and provide investment opportunities to everyone around the world.

FinTech is rooted in disruption and disintermediation to about fundamental changes in how we deliver financial services to the next billion people world wide.

SPEAKER’S BIO

TIMOTHY LI

Tim is Founder & CEO of various FinTech platforms in the US & China

Timothy Li started his career as an mathematical engineer at Intel solving complex CPU manufacturing issues. He then spent the following 5 years at JPMorgan Chase in their Retail and Small Business Banking organization. He worked on most of Chase’s banking technology, credit risk and fraud detection technology.

Tim continued his career with FinTech/Marketplace Lenders such as Elevate Credit where he managed all of the lending portfolio performance from Marketing to Credit Risk Management.

Tim continued his online lending career and built LoanDepot’s Personal Lending Platform. Served as Chief Information Officer for RealtyMogul and held various advisory roles at Kabbage, RocketLoans. Served on Experian’s Fraud Advisory Board.

Tim holds engineering, mathematics and business degrees from San Jose State University, University of Southern California and Harvard Business School.

2017- PAGE 2

FinTech Trend

2017- PAGE 2

ONLINE LENDING

P2P INSURANCECROWDFUNDING

• 1st Party Fraud - Intent to Pay• 2nd Party Fraud - Publishers and Affiliates• 3rd Party Fraud - Synthetic Identity, Fraud Rings• Stacking - Customers willingly taken out multiple loans

simultaneously • ATO - Account Take Over• Transactional Fraud (ACH, Debit)• Internal / Employee Fraud• AML - Anti-Money Laundering

ONLINE LENDING / BANKING

https://www.linkedin.com/pulse/3-common-identity-fraud-plagues-fintech-startups-how-avoid-timothy-li

FinTech Trend

2017- PAGE 2

ONLINE LENDING

P2P INSURANCECROWDFUNDING

• Accreditation attestation - Accredit Investors• Suspicious Crowdfunding Campaigns - Still born/ Preempted Fraud (Shut Down by

Platforms)• Attempt Fraud - Crowdfunding with Intellectual Properties that they didn’t own• Backer-Creator Fraud - Money Laundering

CROWDFUNDING

https://www.crowdfundinsider.com/2014/03/34255-crowdfunding-fraud-big-threat/

FinTech Trend

2017- PAGE 2

ONLINE LENDING

P2P INSURANCECROWDFUNDING

• Moral hazard - lack of incentive to guard against risk• Fraudulent claims

P2P INSURANCE

https://www.ft.com/content/c4bd7bcc-872f-11e6-a75a-0c4dce033ade

FinTech Trend

2017- PAGE 2

ONLINE LENDING

INSURANCECROWDFUNDING

MAKING FRAUD DETECTION + PREVENTION A PRIORITY