obconnect’s Post

🔒 While #LoginMonitoring, #MFA (#MultiFactorAuthentication), and #TransactionMonitoring have been the cornerstones of digital banking security, it seems that these measures alone are no longer enough to keep malicious actors at bay. 🎭 As fraudsters evolve their tactics, it's imperative that our security strategies advance in tandem. The insights shared in this article are both alarming and invaluable. 📣 This is a call to action for all of us in the industry to collaborate, share knowledge, and explore new solutions. #DigitalBanking #FinTech #Fraud

Combat frauds and bots in high-value transactions     Eradicating the threat of fraudsters and automated bots in high-value transactions is more crucial than ever. ezto verify's advanced Liveness Check feature ensures that only authorized live individuals can initiate significant transfers.   Here's how it works: When initiating a transaction, users are verified through real-time face comparison with their registered profile. Additionally, specific actions like saying a line and showing finger count are required to be performed by users which prevents spoofing attempts.   Elevate your banking security with the Liveness Check feature and experience next-generation protection for financial transactions.   Learn more: https://lnkd.in/gmCYFuRv   #banking #fintech #security #ezto

Open Banking is transforming fintech by enabling seamless access to financial data. But how do banks and third-party providers ensure data security and privacy? In our latest post, we explore: - How OAuth2 and multi-factor authentication (MFA) protect customer data - The role of trust and contracts between banks and third-party providers - Real-world use cases like KYC, prefilled applications, and fraud prevention As fintech evolves, strong data protection measures and trust-building are more crucial than ever.

At Truvity, we've been working hard to build clear use cases related to industry pains that shouldn't be lingering as much as they are 😡! So we launched a new whitepaper/report/PDF, basically some solid content outlining the issues plaguing the payments industry and how to solve them with new identity technology like verifiable credentials/digital identity wallets. Content includes:  🤔 Key Challenges Overview: Document retrieval, fraud prevention, and regulatory hurdles are putting pressure on PSPs like never before.  🚀 Intro to tech that solves the issues: Verifiable Credentials and Digital Wallets are the cutting-edge tools helping PSPs streamline merchant onboarding and compliance. 👮♂️ Regulation Breakdown: Learn what PSD3, eIDAS 2.0, MiCA, and DORA mean for your business. Link in the comments!  #PaymentProviders #DigitalIdentity #Fintech #Compliance

Collaborative Intelligence: A Game-Changer for Banks 🚫 Traditionally, banks have a limited view of payment recipients, relying only on their transaction histories. 🧠 Collaborative Intelligence changes this by pooling data from multiple banks, providing a comprehensive risk profile for each transaction. 🔎 This method helps banks identify abnormal payment patterns and potential fraud more accurately. 🤔 Think of it like a network of security cameras. 🌐 While a single camera offers a limited view, a network provides comprehensive coverage, reducing blind spots. ✅ Similarly, collaborative intelligence combines data from various sources, enhancing fraud detection and operational efficiency while improving the customer experience. 👫 With October’s regulations requiring both sending and receiving PSPs to reimburse customers for fraud losses, adopting Collaborative Intelligence becomes key in reducing APP fraud and protecting customers. Find out more about Collaborative Intelligence and how Form3’s APP Fraud prevention solution can elevate your fraud prevention technology 👉 https://form3.co/3KeO8a0 #CollaborativeIntelligence #PaymentsPlatform #CloudNative #PaymentFraud #Banking #Payments #FinancialCrime #Fintech #APPFraud

The Payment Card Industry Data Security Standard (#PCIDSS) is a comprehensive set of security requirements designed to ensure the safe handling of #paytech information during transactions. Developed by major credit card companies, PCI DSS aims to protect cardholder data from theft and fraud by establishing guidelines for secure data storage, transmission, and processing. #Compliance with PCI DSS is mandatory for any organization that stores, processes, or transmits credit card data, helping to safeguard sensitive information and maintain trust between consumers and businesses in the realm of electronic payments. #fintech #payments #infosec

Collaborative Intelligence: A Game-Changer for Banks 🚫 Traditionally, banks have a limited view of payment recipients, relying only on their transaction histories. 🧠 Collaborative Intelligence changes this by pooling data from multiple banks, providing a comprehensive risk profile for each transaction. 🔎 This method helps banks identify abnormal payment patterns and potential fraud more accurately. 🤔 Think of it like a network of security cameras. 🌐 While a single camera offers a limited view, a network provides comprehensive coverage, reducing blind spots. ✅ Similarly, collaborative intelligence combines data from various sources, enhancing fraud detection and operational efficiency while improving the customer experience. 👫 With October’s regulations requiring both sending and receiving PSPs to reimburse customers for fraud losses, adopting Collaborative Intelligence becomes key in reducing APP fraud and protecting customers. Find out more about Collaborative Intelligence and how Form3’s APP Fraud prevention solution can elevate your fraud prevention technology 👉 https://form3.co/3KeO8a0 #CollaborativeIntelligence #PaymentsPlatform #CloudNative #PaymentFraud #Banking #Payments #FinancialCrime #Fintech #APPFraud

Collaborative Intelligence: A Game-Changer for Banks 🚫 Traditionally, banks have a limited view of payment recipients, relying only on their transaction histories. 🧠 Collaborative Intelligence changes this by pooling data from multiple banks, providing a comprehensive risk profile for each transaction. 🔎 This method helps banks identify abnormal payment patterns and potential fraud more accurately. 🤔 Think of it like a network of security cameras. 🌐 While a single camera offers a limited view, a network provides comprehensive coverage, reducing blind spots. ✅ Similarly, collaborative intelligence combines data from various sources, enhancing fraud detection and operational efficiency while improving the customer experience. 👫 With October’s regulations requiring both sending and receiving PSPs to reimburse customers for fraud losses, adopting Collaborative Intelligence becomes key in reducing APP fraud and protecting customers. Find out more about Collaborative Intelligence and how Form3’s APP Fraud prevention solution can elevate your fraud prevention technology 👉 https://form3.co/3KeO8a0 #CollaborativeIntelligence #PaymentsPlatform #CloudNative #PaymentFraud #Banking #Payments #FinancialCrime #Fintech #APPFraud

Collaborative Intelligence: A Game-Changer for Banks 🚫 Traditionally, banks have a limited view of payment recipients, relying only on their transaction histories. 🧠 Collaborative Intelligence changes this by pooling data from multiple banks, providing a comprehensive risk profile for each transaction. 🔎 This method helps banks identify abnormal payment patterns and potential fraud more accurately. 🤔 Think of it like a network of security cameras. 🌐 While a single camera offers a limited view, a network provides comprehensive coverage, reducing blind spots. ✅ Similarly, collaborative intelligence combines data from various sources, enhancing fraud detection and operational efficiency while improving the customer experience. 👫 With October’s regulations requiring both sending and receiving PSPs to reimburse customers for fraud losses, adopting Collaborative Intelligence becomes key in reducing APP fraud and protecting customers. Find out more about Collaborative Intelligence and how Form3’s APP Fraud prevention solution can elevate your fraud prevention technology 👉 https://form3.co/3KeO8a0 #CollaborativeIntelligence #PaymentsPlatform #CloudNative #PaymentFraud #Banking #Payments #FinancialCrime #Fintech #APPFraud

Collaborative Intelligence: A Game-Changer for Banks 🚫 Traditionally, banks have a limited view of payment recipients, relying only on their transaction histories. 🧠 Collaborative Intelligence changes this by pooling data from multiple banks, providing a comprehensive risk profile for each transaction. 🔎 This method helps banks identify abnormal payment patterns and potential fraud more accurately. 🤔 Think of it like a network of security cameras. 🌐 While a single camera offers a limited view, a network provides comprehensive coverage, reducing blind spots. ✅ Similarly, collaborative intelligence combines data from various sources, enhancing fraud detection and operational efficiency while improving the customer experience. 👫 With October’s regulations requiring both sending and receiving PSPs to reimburse customers for fraud losses, adopting Collaborative Intelligence becomes key in reducing APP fraud and protecting customers. Find out more about Collaborative Intelligence and how Form3’s APP Fraud prevention solution can elevate your fraud prevention technology 👉 https://form3.co/3KeO8a0 #CollaborativeIntelligence #PaymentsPlatform #CloudNative #PaymentFraud #Banking #Payments #FinancialCrime #Fintech #APPFraud