Published By: FICO EMEA
Published Date: Aug 28, 2019
There is a proliferation of payment methods that provide people with faster ways to make and receive payments – but they are not all the same. Understanding the differences and unique characteristics of different 'fast' payment types is vital to those who need to develop and service payments fraud strategy.
Download our executive brief to understand:
The differences between real-time payment schemes, e-wallets and person to person payments
The implications on fraud from the fast transfer of money
Where to start building your real-time payments fraud strategy
Published By: FICO EMEA
Published Date: Sep 02, 2019
Real-time payments mean real-time fraud – how will you adapt your fraud strategies?
The roll out of real-time payment schemes has bought advantages to criminals as well as to people and businesses. Those countries that have already adopted real-time payment schemes have seen a rise in fraud including authorised push payment fraud and account takeover as well as a rise in money laundering, particularly the use of mule accounts.
This executive brief looks at the impact of real-time payments on fraud and examines the changes to fraud strategy and solutions to keep it under control including:
The need to assess payments for fraud in real-time.
How to protect customers from authorised push payment fraud.
The machine learning approaches that can underpin a successful fraud strategy that protects both banks and their customers.
We all know that teamwork makes the dream work. And in the case of procurement and accounts payable (AP), this rings especially true.This IOFM white paper explores the negative effects of dissociated procurement and AP departments and the benefits of integrating them with an automated, end-to-end P2P workflow, including:
-Fewer duplicate payments & improved ROI
-More collaborative teams & increased efficiency
-Heightened business intelligence from greater visibility & reporting
For P2P and finance managers, the goal of automation is to make P2P cycles operate more effectively from end to end. For executive management, the end-all be-all is company profitability. That's why knowing how to appeal to c-suite members is essential for getting your automation initiative off the ground.Get key stakeholders on board with the help of this white paper that describes the values that appeal most to every party involved, like:
-Eliminating wasteful spending while improving operational efficiency
-Generating greater productivity from employees
-Reducing the number of complaints raised from late payments
The financial collapse of 2008 had the greatest impact on the financial services industry since World War II, resulting in consolidation and extensive regulation. The crisis coincided with increased competition from emerging economic powers, nonbanks and fintech organizations. Consumer behavior, from the adoption of mobile banking to P2P payments, forced banks to retool and respond with innovative products and investments in new delivery channels. Technology changed rapidly as well. In the capital markets, trading became fully automated, with pricing, risk decisions and settlement across exchanges made in milliseconds