Money20/20 USA: CSI in the fight against fraud

David Culbertson, President & CEO of CSI discusses the company’s growing compliance sector, and how it is helping FIs mitigate financial fraud

In attendance at Money20/20 USA, held in Las Vegas from October 22-25, FinTech Magazine speaks to David Culbertson, President & CEO of CSI about what the company is doing in the anti-fraud and ML space today. 

For our full interview with Culbertson, you can click on the video link above.

CSI: Improving compliance – from rules-based to risk-based solutions

Compliance is nothing new for CSI, they’ve been in the space for 20 years now. Primarily focused on watchlist screening, “there are about 150 lists that CSI scans,” notes Culbertson. 

“Recently,” he adds, “we've been focused on how we improve fraud and anti-money laundering (ML), and how you move from a rules-based solution to a risk-based solution.

“With a rules-based solution, you catch only what you know to define the rules for. Risk-based solutions are AI-powered, and what that does is look at behaviour. Today, it is only by looking at behaviour that we are going to be able to stop fraud.”

Driving cybersecurity forward

The company is also helping drive innovations in cybersecurity, which for CSI, means a multi-layer approach.

Culbertson adds: “We have real-time ongoing scanning that we do. It's not just a matter of us doing a penetration test once a quarter. Our tests are ongoing all the time. 

“We offer cyber solutions to our customers through our managed services group. But more importantly, I think what we do is create an environment of safety. We run training courses, we educate our own staff, we test our own staff and we also offer that for our customers too.”

A look to the future

“CSI has gone through a pretty substantial change in the last 12 months. We've taken our company private, we've worked with private equity after being public for 57 of those 58 years.

“Now, we’re looking to reposition who we are. We're looking for partnerships and we're looking for acquisitions as we continue to grow.”

Want to see more from Money20/20 USA? Stay tuned to FinTech Magazine as we roll out more content from the event over the coming days. 


For more insights from FinTech Magazine, you can see our latest edition of FinTech Magazine here, or you can follow us on LinkedIn and Twitter.

You may also be interested in our sister site, InsurTech Digital, which you can also follow on LinkedIn and Twitter.

Please also take a look at the playlist for our latest hybrid event, FinTech LIVE London, to learn all about the latest trends in fintech. 


BizClik is a global provider of B2B digital media platforms that provides executive communities for CEOs, CFOs, CMOs, Sustainability Leaders, Procurement & Supply Chain Leaders, Technology & AI Leaders, Cyber Leaders, FinTech & InsurTech Leaders as well as covering industries such as Manufacturing, Mining, Energy, EV, Construction, Healthcare, and Food & Drink.

BizClik – based in London, Dubai, and New York – offers services such as Content Creation, Advertising & Sponsorship Solutions, Webinars & Events.


Featured Articles

Sustainability LIVE Net Zero: Sustainable Finance Insights

Financial services and banking executives have the opportunity to hear from the world’s biggest sustainability leaders discussing the future of Net Zero

EPAM: 96% of Consumers Happy With AI in Banking

EPAM Continuum has conducted its 2024 Consumer Banking Report, suggesting that 96% of consumers are happy with banks adopting AI

Bitcoin Reclaims US$1tn Valuation; the Bull Market is Here

Bitcoin, the world’s largest cryptocurrency, has hit the US$1tn valuation mark again after the cost of one Bitcoin jumped 22% to US$52,005

COMING SOON: Top 100 Women in FinTech 2024

Digital Payments

FinTech LIVE Dubai: Linoy Kidd, CIO at HSBC

Financial Services (FinServ)

NASDAQ: Banks Need Fintech Trust to Combat US$3tn in Fraud

Fraud & ID Verification