Dave Excell and The Clearing House Talk About Coronavirus’ Impact on RTP

Mobile and contactless payments have generated more consumer attention as ways to safely move money in the wake of coronavirus, but there's also a growing wave of support for The Clearing House's Real Time Payments (RTP) network for banks.

PaymentsSource spoke with Dave Excell and Steve Ledford (SVP of products and strategy at The Clearing House) about the accelerated transaction volume in RTP following the pandemic, while also acknowledging emerging fraud threats in the current environment.

"Fraudsters continue to perpetrate scams like they had previously, but now doing it in manners related to coronavirus. They can be phishing messages about pandemic cures or facemasks [in order to trick victims into responding] to download malware. The underlying fraud continues to be social engineering scamming and getting access to financial business accounts and at the banks."

Read the full article here.

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About Featurespace – www.featurespace.com

Headquartered in the U.S. and U.K. and with offices in Atlanta, Cambridge and London, Featurespace™ is the world-leader in fraud prevention and creator of the ARIC™ platform, a real-time AI machine learning software that risk scores events in more than 180 countries.

The ARIC platform combines adaptive behavioural analytics and anomaly detection to automatically identify risk and catch new attacks as they happen. The increased accuracy of understanding behavior strikes the balance between improving fraud and risk detection and operational efficiencies, while also reducing the number of genuine transactions that would be incorrectly declined by as much as 70 percent.

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