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Managing Fraud in Retail Banking Payments

Managing Fraud in Retail Banking Payments

Effectively manage fraud targeted at payments made from bank accounts, before loss occurs.


Fraud can happen across all types of retail banking payments, including electronic payments such as bank account credits and debits. The increase in online banking and the proliferation of new schemes and regulations, such as the global adoption of real-time payments, means that electronic payments are more popular than ever. Fraud detection must operate across multiple channels, including online, mobile, call center and beyond. At the same time as protecting from fraud, payment service providers need to ensure they deliver excellent customer experience and provide a secure and trusted remote banking service. In this challenging environment, payment service providers need to:

  • Identify and mitigate sophisticated malware that can take over genuine online banking sessions.
  • Thwart cross-channel fraud schemes where criminals use one channel to phish for customer and account information and another channel to initiate an electronic payment.
  • Fulfill customer expectations that they can bank safely and conveniently whenever they need to.

Using the very latest in machine learning and advanced analytics, our solutions enable financial institutions to detect fraud more accurately and manage cases more effectively so they can:

  • Avoid reputational risk by accurately detecting out-of-pattern payments.
  • Improve operational efficiency by automating decisions on genuine payments.
  • Protect customer experience by reducing false positives and automating payment decisions to eliminate unnecessary processing delays.