Rapyd’s Post

Check out what Gartner had to say about Verosint!! Verosint is mentioned in the report as a fraud intelligence platform. Grab the summary below or if you are a subscriber check out the Emerging Tech: 5 Elements to Prevent Digital Commerce Fraud report. Read the summary and download the full report today. https://lnkd.in/gCuXrwqq #fraudintelligence #accountfraud #gartnerreport

FRAUD INTELLIGENCE | Gartner has released their latest report, Emerging Tech: 5 Elements to Prevent Digital Commerce Fraud. Mentioned in the report as a fraud intelligence platform, Verosint represents a key facet of a comprehensive fraud prevention strategy. Read the summary and download the full report today. https://lnkd.in/gCuXrwqq  #fraudintelligence #accountfraud #gartnerreport

Grab the summary or if you are a subscriber check out the Emerging Tech: 5 Elements to Prevent Digital Commerce Fraud report. Verosint is mentioned in the report as a fraud intelligence platform. Read the summary and download the full report today. https://lnkd.in/gCuXrwqq  #fraudintelligence #accountfraud #gartnerreport

Fraud and Information Security risks are the highest concerns ranked by ∼50% of B2C and B2B businesses.¹ However, only 26% of companies consider “Mitigating Fraud & Financial Risks” as an important factor when evaluating a payments provider for eCommerce. I see a serious gap there. The sophistication of AI-powered eCommerce fraud will skyrocket the demand for next-generation fraud prevention methods:  - AI-based unusual pattern detection in fraud attempts - Behavioral Biometrics like typing patterns, mouse movements, and device handling to verify a user's identity - Device fingerprinting, used to collect data on devices used for transactions, such as hardware configuration, software settings, and network characteristics, to flag suspicious activities. Digital retailers face the challenge of strategically investing in technology that protects their users and themselves from fraudsters while preserving a smooth online shopping experience. Agree? 💬 #management #ai #retail #ecommerce #digitaltransformation #RemoteNative 🔔 Follow for ongoing insights on Digital Transformation and AI innovation in eCommerce. ¹ Read Rapyd’s report: https://lnkd.in/dgiv2wuQ

📣 As fraud rates rise to unprecedented levels, with malicious players equipped with the latest technologies, we look at how AI can turn the tide ⏩ Consumer group Which? released a recent survey of 1,300 buyers, finding that 32% of respondents were scammed on secondhand marketplaces from January 2022 to January 2023. ▶ Another report from Adyen found that 35% of retail businesses in the UK have been victims of a cyberattack or data link in the past year alone: https://lnkd.in/dMirBKy6 #fraud #ai #idverification #fraud #cyberattacks #technologies

Advanced analytics technologies are becoming increasingly important for businesses in 2024 as the threat landscape continues to evolve. In order to effectively combat fraud, merchants must utilize intelligent and agile tools that can anticipate and prevent attacks.    With the integration of payment platforms that can gather data from multiple sources, it has become increasingly easier to proactively stop fraud in its tracks through real-time account monitoring and instant blocks. These tools can also aid in quickly identifying legitimate customers and accurately pinpointing fraudulent activity.   In this session, join Jeremy King, Regional VP, EMEA, PCI Security Standards Council Gary French, CEO Etsy Payments, Etsy Richard Helliar, VP Sales EMEA, Sift Mo Bammeke, Chief Compliance Officer, Flutterwave Cameron Russell, Legal Director, Global Payments Privacy, eBay Murray Mackenzie, Director of Transformation, Virgin Media O2 As we consider the key trends in combating fraud, such as biometrics, KYB and KYC checks, and AI-powered fraud detection. What are the most effective tools for keeping customer information private and fully secure? And in this era of generative AI, what now needs to happen to ensure that retailers really can guard their customers against data theft and online fraud? 📅 Save the Date: Tuesday 21st May 2024 Register here: www.epaysummit.com #paymentstalk #payments #epay #epaysummit

As financial fraud continues to evolve, the role of machine learning in detecting these threats is crucial. In 2022, global e-commerce losses to online payment fraud reached an alarming US$41 billion. From my perspective, machine learning’s ability to analyze vast amounts of data in real-time offers a proactive approach to fraud prevention. Identifying suspicious patterns and anomalies enables quicker detection and response, helping financial institutions stay ahead of fraudulent activities. This dynamic technology is key to enhancing security in an increasingly digital financial landscape. #machinelearning #financialfraud #payment

I recently had the honor of contributing to The Paypers "Fintech for Marketplaces and Platforms Report 2024", offering insights on the pressing security challenges faced by online marketplaces. In today's digital age, safeguarding transactions and protecting consumer data are paramount for marketplaces' success. According to Rapyd's research, fraud ranks as a primary concern for 42% of businesses, underscoring the urgency for robust fraud prevention measures. My contribution to the report delves into these pressing security concerns and provides actionable insights for navigating these complexities: 1️⃣ Battling fraud and safeguarding transactions: Effective fraud prevention requires tailored monitoring programs that address specific business needs and regulatory requirements. 2️⃣ Navigating the regulatory labyrinth: Compliance with international standards, like those set by the FATF, is essential to avoid fines and reputation damage. 3️⃣ Embracing AI innovations: AI-driven solutions offer unprecedented opportunities for real-time fraud detection and risk mitigation. 4️⃣ Data security: Transparent data handling practices are crucial for protecting consumer information and fostering trust. 5️⃣Educating consumers: Clear communication and education about security practices empower consumers and sellers to participate in a secure online environment. I extend my gratitude to The Paypers for the opportunity to contribute to this comprehensive report. For further insights, you can download the full report here: https://buff.ly/3WXU5Q2 #fintech #fraudprevention #compliance

Bingo! Hey LinkedIn #payments people - James Sherwin-Smith will be attending #Pay360 in London tomorrow (Tuesday) - please drop him a note if you’d like to chat and complete his bingo card: 🐌#RealTimePayments but slower because firms can’t keep up with the speed of fraud 🪞#AuthorisedPushPayments and the CRM - and deflecting onto big tech 🔜#OpenBanking and all the xISPs 🚨#Fraud, #Cyber and other threats 💪#Resilence (👀 Sainsburys…) 🕵️♀️ #Regulation, compliance and licensing 🔐#CBDCs, coins (stable and less so) 🤖#AI and the latest rebadging of algorithms

The Paypers has released its Fraud Prevention in Ecommerce Report for 2023/2024 which contains many articles across 12 different themes. I am pleased to be a contributing author in which I discuss industry efforts to address the growing issue of first-party fraud. The full report can be access here: https://lnkd.in/gnPBBbDT.   Click here to read my article on first-party fraud: https://lnkd.in/g54nUFcw.   Happy reading!