Securing Multi-Rail Real-Time Payments: Future of the Fraud Stack
This IDC Perspective outlines the challenges that organizations face and provides a discussion around the approach that can be taken to meet those challenges.Financial institutions and other organizations face new fraud challenges and vulnerabilities as they adopt real-time payments with connectivity to multiple rails. "Preparing a real-time payments fraud strategy will ultimately require financial institutions not only to continuously improve upon transaction monitoring but also to expand the view of risk," says IDC Financial Insights' research directors and coauthors Rivka Gewirtz Little and Steven D'Alfonso.
Please Note: Extended description available upon request.
- Executive Snapshot
- Situation Overview
- Fraud in Real-Time Payments
- New Real-Time Payments Mean New Fraud Challenges
- Diversified Fraud Attack Types
- Mule Accounts
- Synthetic Identity Fraud
- Payment Modernization: Opening the Door to Fraud Attacks
- Approach to the Problem
- Align Organizational Goals
- Upgrade Fraud Analytic Tools
- The Ideal Real-Time Payments Fraud Stack: Assessing Risk in Transactions, Entities, and Beyond
- Beyond the Transaction: Understanding Risk at the Entity Level
- A Wider View of Risk: Consortium Data and Analytics
- A Network View of Risk: Require More from Your Payments Provider
- Advice for the Technology Buyer
- Align the Fraud and Payment Teams Around New Initiatives
- Select the Right Technology Partner
- Learn More
- Related Research
- Synopsis
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