The emergence and growing availability of real-time payment systems changing the way people move and manage money, bringing more choice and greater convenience. Greater payment speed has not, however, diminished the need for security. Quite the opposite, in fact, as real-time speeds shrink the window in which potentially fraudulent transactions can be stopped. Managing fraud is critical to financial institutions in a world of instantaneous payments and real-time settlement.
Securing real-time payments requires more than simply deploying the same risk management and fraud prevention solutions faster. When it comes to real-time payments, every step of the transaction processing lifecycle, including fraud detection, must be completed in fractions of seconds. This requires a , designed for real-time approach, which leverages up-to-date processes and technologies in order to meet increasing customer expectations while effectively managing financial crime risk.