$2.9 Trillion
9%
34%
Payments & Billing
New legislation and more demanding consumers
Big Changes. Big Opportunities
The Challenge
Digital payment fraud has never been more sophisticated and the financial rewards for the perpetrators have never been greater. If you accept or facilitate payments over the web, you are likely to see your fraud rates grow as your adversaries are better capitalized and better staffed than ever before.
The Solution
Broad-based attacks, schemes, and strategies can be most effectively countered with a unified, technology-based defense adopted by all the potential targets – a massive cross-industry, cross-border collaboration at a scale that businesses (and fraudsters) have not yet experienced.
Recommended Products & Solutions
A user-friendly case management portal that allows you to set your own rules and review transactions efficiently and accurately.
Machine learning models are expertly engineered with the nuances of your business and industry already built in.
Visualize your real-time data to extract actionable insights, isolate risk and improve your business processes.
Shield serves as your early warning system by detecting malicious bots, fraudsters and other bad actors as they arrive on your site.
Monitor third-party data sources to benchmark your company’s performance including risk intelligence on payment methods, dark web data, IPS vulnerabilities and marketing channels.
Confirm users credentials through login scoring, multi-factor authentication or out-of-band applications.
Digital Strategy and Fraud
Unprecedented change is altering the very fabric of the global payments industry. PSD2 has opened up the way banks compete and new payment technologies, such as contactless payments and digital wallets, will soon represent the majority of all transactions.
To date, agile fraudsters have taken advantage of banks’, merchants’ and payments processors’ limited ability to adapt. Even among well-funded organizations, key resources and critical forensic data, investigative expertise, and data science capabilities are broadly scattered across across cybersecurity, accounting, fraud, compliance, legal, and IT departments, with little sharing or coordination.
Combat fraud leveraging data science and analytics, gradually moving away from a narrow focus on false positives and loss prevention. Organizations have access to exponentially more customer and transaction data than in the past and new technologies create the means to more accurately segment customers by risk. This means low-friction digital experiences for low-risk customers. Harness Fraud.net’s capabilities to reduce losses, detect and prevent emerging fraud, and enhance customer experience.
The Network Effect
Broad-based attacks, schemes and strategies can be most effectively countered with a unified, technology-based defense adopted by all the potential targets – a massive cross-industry, cross-border collaboration at a scale that businesses (and fraudsters) have not yet experienced.