Our latest #RapydResearch report "2024 State of Payments: High-Opportunity Industries" reveals four important insights about the evolving landscape of cross-border payments. ✅ Speed & Convenience Reign Supreme Businesses prioritize frictionless payments, with 38% emphasizing the speed of transactions. ✅ Delays Disrupt Businesses A staggering 73% of businesses in high-opportunity industries face payment delays (2-15 days), hindering cash flow. ✅ Fraud Prevention Remains Crucial With 25% of businesses citing it as a key factor, robust fraud management is essential. ✅ Real-Time Payments on the Rise 38% of businesses anticipate a surge in RTP adoption for faster settlements and improved cash flow. ✅ AI Combats Evolving Fraud The report emphasizes the value of AI in mitigating fraud, particularly difficult-to-detect tactics. Download the free report to learn more: https://lnkd.in/gBPTTREx #fintech #payments #crossborderpayments
Rapyd’s Post
More Relevant Posts
-
Banking, Financial Services and Insurances Just Got Smarter! 🏦💡 Dive into the future with AI/ML innovations tailored for BFSI. From predictive analytics to fraud prevention, Harrier Information Systems has you covered. Transform your operations today! 🚀 sales@harriersys.com | +91 9860001615 | www.harriersys.com #BFSI #AI #MachineLearning #Fintech #PredictiveAnalytics #FraudDetection #CustomerExperience #Innovation #DigitalTransformation #DataScience #TechSolutions #FinancialServices #FutureOfFinance #BusinessIntelligence #HarrierInformationSystems #Acceleratingdisruption
To view or add a comment, sign in
-
🏦 Financial institutions face a tough challenge: improving operational efficiency AND hiring qualified fraud and AML experts. AI software to the rescue - for a common goal and benefit. 🐱🏍 The ever-evolving global economy introduces its own set of hurdles for #financialinstitutions. Firstly, the surge in digital transactions and the expansion of cross-border e-commerce complicate the tracking of critical data. In parallel, criminals continually refine their financial crime tactics, devising new fraud schemes at an unprecedented speed. Last, but not least, investors are seeking improved revenues and margins. To thrive in this demanding ecosystem, banks must adopt more innovative strategies to boost performance, uphold customer satisfaction, and deliver value to shareholders. INFORM experts Halyna Hermanns, CAMS and Dr. Stephan Lemkens encourage the union of #fraudprevention, and #AML functions within banks to not only reach operational efficiency but also generate a 360° view of transaction, account, and customer data. They thereby also emphasize the essential role of flexible and intelligent AI technology in achieving this synergy. 🔗 For access to the complete document, download our (open) whitepaper, produced in collaboration with Payments Cards & Mobile, from our website » https://lnkd.in/eDYNHqsA #worldofriskshield #AItechnology
To view or add a comment, sign in
-
Chief Executive Officer - INFORM North America I Digital Decision-Making using AI and ML | Decision Support Systems | Business Process Improvement | Forbes Technology Council Member
The global economic situation has already created certain hurdles, don't let the surge in digital transactions and your financial institution's cross-border growth further complicate the situation by not having a robust #AI solution to support real-time transactions with continually enhanced fraud models that help identify new evolving fraud schemes while enhancing the customer service experience and ultimately the bottom line. Find out more about RiskShield by INFORM.
🏦 Financial institutions face a tough challenge: improving operational efficiency AND hiring qualified fraud and AML experts. AI software to the rescue - for a common goal and benefit. 🐱🏍 The ever-evolving global economy introduces its own set of hurdles for #financialinstitutions. Firstly, the surge in digital transactions and the expansion of cross-border e-commerce complicate the tracking of critical data. In parallel, criminals continually refine their financial crime tactics, devising new fraud schemes at an unprecedented speed. Last, but not least, investors are seeking improved revenues and margins. To thrive in this demanding ecosystem, banks must adopt more innovative strategies to boost performance, uphold customer satisfaction, and deliver value to shareholders. INFORM experts Halyna Hermanns, CAMS and Dr. Stephan Lemkens encourage the union of #fraudprevention, and #AML functions within banks to not only reach operational efficiency but also generate a 360° view of transaction, account, and customer data. They thereby also emphasize the essential role of flexible and intelligent AI technology in achieving this synergy. 🔗 For access to the complete document, download our (open) whitepaper, produced in collaboration with Payments Cards & Mobile, from our website » https://lnkd.in/eDYNHqsA #worldofriskshield #AItechnology
To view or add a comment, sign in
-
The banking industry is evolving faster than ever, and at Lydonia, we're at the forefront of that change. Through cutting-edge #AI #Hyperautomation solutions, we're empowering banks to: ✅ Streamline operations ✅ Enhance customer experiences ✅ Improve compliance and risk management #Banking #FinancialServices #Automation #AI #DigitalTransformation #Innovation #BringingAIToLife
Lydonia’s AI-Powered Solutions offer more than just a boost to your cost-to-earnings ratio. They’re essential for staying competitive and solving complex challenges. From digitizing and personalizing customer interactions to managing risk, fraud detection, and ensuring compliance, Lydonia provides trusted, secure outcomes that drive success. Key Use Cases for Banking: - Funds Transfer Pricing: Optimize pricing with trend analysis, better controls, and less manual work. - Balance Sheet Reconciliation: Automate journal entries and gain better visibility into incomplete tasks. - Customer Segmentation: Improve customer data management and contact center efficiency. - Compliance Simplification: Streamline KYC and AML processes for stronger compliance. Discover how Lydonia can help your organization tackle growing pressures and achieve operational excellence. https://hubs.ly/Q02NBLmP0 #AI #Automation #Analytics #Data #Security #GoLydo #BringingAIToLife #Banking
To view or add a comment, sign in
-
The Art of Preventing Fraudulent Chargebacks in the Digital Payments Ecosystem Just a decade ago, who could have imagined how embedded digital transactions would become in our daily lives? Today, as we further transition into a cashless society, the complex world of chargebacks, payment disputes, and fraud prevention looms larger than ever. As someone deeply entrenched in this sector, I've seen how innovations have helped businesses navigate these challenges. Here are my Top 3 Insights: 1. Preventing Fraud: Utilizing AI and machine learning to identify and flag suspicious activities is a game-changer. But remember, it's a tool, not a cure-all. Training and vigilance are still key. 2. Efficient Dispute Management: Streamline your processes. Automated workflows and smart decision engines can drastically cut down time and resources spent on dispute resolution. 3. Customer-centric Policies: Chargebacks can heavily impact customer relationships. A fair, transparent policy is critical. It reassures customers and deters fraudulent claims. As we advance, these practices will evolve, but these core strategies will undoubtedly remain significant. To my fellow chargebacks and risk professionals, I'd love to hear your thoughts on the current state of the sector and the strategies that work best for you. Let's keep the dialogue going, paving the way towards a more secure digital payments landscape. #Chargebacks #DigitalPayments #FraudPrevention
To view or add a comment, sign in
-
Lydonia’s AI-Powered Solutions offer more than just a boost to your cost-to-earnings ratio. They’re essential for staying competitive and solving complex challenges. From digitizing and personalizing customer interactions to managing risk, fraud detection, and ensuring compliance, Lydonia provides trusted, secure outcomes that drive success. Key Use Cases for Banking: - Funds Transfer Pricing: Optimize pricing with trend analysis, better controls, and less manual work. - Balance Sheet Reconciliation: Automate journal entries and gain better visibility into incomplete tasks. - Customer Segmentation: Improve customer data management and contact center efficiency. - Compliance Simplification: Streamline KYC and AML processes for stronger compliance. Discover how Lydonia can help your organization tackle growing pressures and achieve operational excellence. https://hubs.ly/Q02NBLmP0 #AI #Automation #Analytics #Data #Security #GoLydo #BringingAIToLife #Banking
To view or add a comment, sign in
-
Fighting Payments Fraud in a World of Social Media and AI Payment processing is much more seamless now than it was even a few years ago. The pandemic accelerated the pace of digitizing payments, and peer-to-peer payment networks continue to grow in popularity. But this has also meant that consumers and banks have faced a growing number of innovative payments scams. In a recent PaymentsJournal podcast, Sudhir Jha, Executive Vice President and Head of Brighterion, a Mastercard company, and Tracy Kitten, Director of Fraud and Security at Javelin Strategy & Research, discussed how generative AI is changing the payments fraud landscape and what we should expect in the year ahead. DAC’s Payment Processing, Reducing fees by 95% Credit cards, the most common payment method, still pose fees challenges for small businesses. Although debit cards offer lower interchange fees, their transactions take longer to settle, impacting cash flow. DAC’s Simple and affordable payment processing can eliminate up to 95% of processing fees. Have payment processing tailored to your business’s specific needs. Call 226-568-9397 speak to me Christopher to see how DAC’s payment processing can empower your business’s growth. Visit the following website for more information. https://lnkd.in/gD9b57Ep #Fintech #DigitalPayments #PaymentTech #EcommercePayments Complete Article Can Be Read Here: https://lnkd.in/gT4tgFpJ
To view or add a comment, sign in
-
With the uptick in digital payments, chargebacks and payment disputes have become an increasingly complex area. Over the past year, the landscape has truly evolved, bringing both challenges and opportunities for financial risk management. Here are some key trends and solutions that are shaping this realm: 1. Automation: AI and ML are playing a crucial role in identifying and reducing fraudulent activity. Their ability to learn from previous data sets and predict fraudulent patterns is an absolute game-changer. 2. Customer Communication: Clear, prompt communication can prevent most disputes. Establishing an accessible line of contact for customers to report issues or clarify doubts can significantly reduce unnecessary escalations. 3. Empowering Employees: The human touch still holds value. Properly trained personnel interacting with customers during the dispute process often results in a satisfactory resolution for both parties. 4. Regulations: Keeping up with the latest regulatory requirements and changes is crucial to avoid unnecessary penalties and safeguard consumer interests. As we move forward, it’s essential for businesses to stay ahead of these trends, leveraging technology and continuous learning to mitigate risks effectively. How has your organization implemented strategies to manage chargebacks and payment disputes? Would love to know your thoughts! #chargebacks #frauddetection #digitalpayments
To view or add a comment, sign in
-
Is the future of payments frictionless and personalized? Dive into "Fintech Forward: Payments innovations and tribulations" from Metia. This article explores the cutting-edge advancements and challenges facing the payments landscape in the fintech world. #payments #fintech #finance #innovation
In this week’s newsletter, we explore key emerging trends and also discover what experts believe lies ahead, particularly as #AI use cases mature. As we learn from Kimberley Long at The Banker, #fraud detection models are becoming increasingly vital in the fight against criminal activity, but this line of defence comes with its own unique risks, such as bias and hallucinations. We also discover how faster #payments aren’t always safer payments, with Datos Insights shedding light on the benefits of slowing down certain elements to help combat the rise in fraud. Read the newsletter in full here and don't forget to subscribe: https://lnkd.in/e9XtnASM Sarah Mason Liz High Darren Hayday 💙💛 Atrayee Das James Jackson Emma Diver CFO Dive Datos Insights PYMNTS The Payments Association #newsletter #AI #marketing #trending #fintech #webinar
To view or add a comment, sign in
-
📅 Today, accessibility and cost-efficiency are key in financial services, but they bring new challenges like fraud and data security. ✒ Learn how Verifiable Credentials, AI in ID verification, and fraud insurance tech are shaping modern KYC. Discover insights from Mirela C. in The Paypers' IDV, KYC, & KYB Report. Get your copy here: https://buff.ly/4bfeqVo #KYC #fintech #verifiablecredentials #AI #fraudinsurance
Emerging Technologies and Trends in Identity Verification, KYC, and KYB Report 2024
thepaypers.com
To view or add a comment, sign in
108,755 followers