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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Featurespace™ is the world leader in enterprise financial crime prevention for fraud and Anti-Money Laundering. Featurespace invented Adaptive Behavioral Analytics and created the ARIC™ platform, a real-time machine learning software platform that risk scores events in more than 180 countries to prevent fraud and financial crime.
ARIC™ Risk Hub uses advanced, explainable anomaly detection to enable financial institutions to automatically identify risk, catch new fraud attacks and identify suspicious activity in real-time. More than 30 major global financial institutions are using ARIC to protect their business and their customers. Publicly announced customers include HSBC, TSYS, Worldpay, NatWest Group, Contis, Danske Bank, ClearBank and Permanent TSB.
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