As the speed of payments increases alongside real-time settlement, financial crime risks and fraud attacks are on the rise. For financial institutions to protect themselves and consumers from fraud, they must be agile and able to respond faster to threats.
Securing real-time payments requires more than simply deploying the same risk management and fraud prevention solutions faster. When it comes to real-time payments, every step of the transaction-processing life cycle, including fraud detection, must be completed in fractions of a second.
That requires a fraud risk management approach designed for real-time. It means employing up-to-date processes and technologies to meet increasing consumer and business expectations while managing financial crime risk effectively.
Read our POV paper to learn about three innovative strategies to consider.