Geolocation: A Partner To Strengthen Banking Security
The mandatory geolocation in banking transactions came into force in Mexico as of March 23, 2021
August 12, 2021
The mandatory geolocation in banking transactions came into force in Mexico as of March 23, 2021
Today is a monumental day for us and we’re delighted to announce that Revelock · A Feedzai Company is getting acquired by Feedzai.
Our CEO Pablo de la Riva Ferrezuelo explains how – by joining forces – the two companies are stepping up the fight against financial crime in this era of cashless commerce..
For e-commerce and contact centre payments, cards have been the only payment option but are costly to businesses and increasingly difficult to use for consumers. Open banking regulation and technologies has created new options for businesses
Monzo Bank has been in financial danger for some time and now, in its latest annual report, has admitted that the UK’s Financial Conduct Authority (FCA) is investigating it for its compliance or otherwise with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
– Introduction
– Poor hygiene & Persistent threats – ‘perfect storm’ of online fraud
– Customers expect Banks to Know Your User
– Fraud Fighting Collective – Fraud Fusion Centers
– Overwhelmed with Alerts, Automation is key
– Clear ‘risk calculation’ – Frictionless First
– No silver bullet – but there are best practices
– Introduction
– What is BionicID™ analysis best suited for?
– Does BionicID™ data collection or analysis impact the user experience?
– Does BionicID™ data collection/analysis comply with SCA/PSD2?
– Does BionicID™ data collection/analysis (behavioral biometric digital identity) comply with GDPR?
– Introduction
– Physical vs. Behavioral Biometrics
– What is a BionicID™
– What makes Revelock’s BionicID™ solution unique in fraud prevention?
– What makes Revelock’s BionicID™ more accurate than other behavioral biometric solutions?
Payments Association members can receive an exclusive 20% discount when purchasing their tickets for the Dark Money Conference 2021!
Partnership to provide users uninterrupted fraud protection throughout their entire online or mobile banking journeys based on digital onboarding with document verification and authentication with facial, periocular and voice recognition combined with behavior biometrics and behavior analytics.
The need for a new kind of fraud defence
– What we mean by Active Defence
– The problem Active Defence solves: Identity attacks and manipulation attacks
– Three capabilities to avert any ID attack
Partnership promotes an Active Defense approach to protecting financial institutions from online fraud attacks.
The new 2021 Chargeback Field Report, published by Chargebacks911, reveals that Covid-19 had a significant impact on the payments space. However, many of the trends observed were already underway years before the pandemic struck. There are opportunities for merchants—and other entities in the payments space—to improve procedures and eliminate risk. However, this will take a significant effort.
Here at Transact365 this past week we hosted a CEO Roundtable in partnership with the Payments Association. Take a look at some of the highlights from the session here.
Partnership between Revelock and Sionic promotes an Active Defense approach to protecting financial institutions from online fraud attacks
The Great Kompli-Global KYB Bake-Off is designed to highlight how fraudsters are avoiding detection by analysts potentially not having all the right fraud prevention ingredients
The latest piece of groundbreaking industry research from dispute resolution specialist Chargebacks911, The 2021 Chargeback Field Report assessed over 400 merchants across the US and the UK and identified a dramatic rise in friendly fraud over the past three years, with 80% of merchants seeing an increase in false claims.
In addition, while 94% of merchants consider friendly fraud to be a problem for their business, less than 30% are taking steps to combat it. This behaviour indicates that there is a knowledge gap preventing merchants from confidently combating fraudulently filed chargebacks.
Other headline stats include:
• 68% of merchants have seen the pandemic cause an increase to their chargebacks
• Nearly a third of merchants experience difficulties contesting illegitimate chargebacks
• And for every friendly fraud case that goes uncontested, 50% of cardholders will go on to commit the crime again in less than 60 days
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