Are your fraud operations ready for digital banking fraud?
As digital channels have multiplied, so have the routes that fraudsters can use. And their options are about to expand again with the implementation of Open Banking and the coming into effect of Europe’s second Payment Services Directive (PSD2). This will present a new set of challenges for banks, who will remain liable for losses caused by unauthorized transactions through these new digital channels.
Download this eBook to learn:
- The context: fraud on an industrial scale
- The looming challenges of Open Banking & PSD2
- The risks: how and where cyber fraud happens
- Know your weaknesses: the three C’s- customers, controls, and culture
- The case for technology: eight reasons why it wins
- Outlines for a tech-led solution: behavioral data analytics hold the key
- Seven case studies of digital banking fraud
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Best practice for Technology-Based Prevention
NetGuardians is a leading FinTech company recognized for its unique approach to fraud and risk assurance solutions. Its software leverages Big Data to correlate and analyze behaviors across the entire bank system – not just at the transaction level. Pre-defined controls enable banks to target specific anti-fraud or regulatory requirements. A controls update service ensures financial institutions benefit from ongoing protection in the face of the continually evolving risk challenges. Headquartered in Switzerland, the company has offices in Kenya, Singapore and Poland.
Chartis RiskTech 100 2018 Vendor
NetGuardians’ solution is recognized as one of the top vendors in financial crime for anti-fraud and cyber risk by Chartis.