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Keeping Payments Secure while Ensuring a Frictionless Customer Experience

Developments in fast and open payments place an increasing pressure on the security of payments, as banks fight fraud in real-time, on new frontiers. Fraud management practices and systems need to evolve faster to counter increasingly sophisticated attacks.

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Secure Innovation for Digital Transformation

New payments cannot impact the security of your institution, but security cannot impede the customer experience.

Banks and processors are investing in security to underpin fast and open payments, and ultimately transform their business. 

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Securing Payments in Real-Time at Every Step Within the Transaction

EFFECTIVE IDENTITY AUTHENTICATION IS KEY TO SECURITY

Security in payments is about balancing the right types of fraud detection and security for frictionless commerce. In the world of open APIs, new types of biometric authentication, different uses of PIN and variable 3D authorization are less invasive while keeping customer data secure.

As electronic payment transaction volumes increase, organized criminal organizations continue to find ways to commit a growing volume of fraudulent transactions using a wide range of techniques. Banks, financial intermediaries, merchants and corporates continue to seek ways to leverage new technologies to identify and prevent fraudulent transactions.

The implementation of an immediate payments infrastructure and moving towards open APIs are key opportunities to improve the balance between fraud risk and a friction-free user experience.

  Use Case: Self Authenticate - The New Payments Ecosystem has no borders. See how to create a single secure authentication method for all global payment types.

  Use Case: Digital DNA - In the digital age banks can become the guardians of more than money. See how identity data vault could facilitate more secure payments and improve CX.

  Open APIs: Seize the Opportunity

HOW REAL-TIME AND OPENNESS CHANGE THE PAYMENTS FRAUD ECOSYSTEM

Banks and intermediaries must adapt their security to meet real-time, Open APIs and new digital channels. In this new report, ACI and consultants, First Annapolis, outline the uncharted fraud risks that today’s payments world presents, and what intermediaries (PSPs and networks) and banks need to do about it.

   The New Payments Ecosystem: Fast, Open, Secure and Disruptive:  Banks | Intermediaries

 

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Win in an Open, Secure Payments Era

ACI and First Annapolis discuss the meaning of The New Payments Ecosystem, and how OPEN and SECURE are influencing new strategies and growth opportunities for banks, processors, PSPs and FinTechs.

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