The Future of Risk-Based Authentication

 

• How do the challenges and rewards of implementing risk-based authentication evaluate? Is the chance value it?
• What ought to be included in data-driven methods for optimising fee transaction experiences?
• How has PSD2 and 3DS laid the muse for enhanced and standardised safety for on-line credit score and debit transactions?
• In what methods ought to issuers and processers be educated in how machine studying and AI might help embed belief within the transaction lifecycle?

 

In line with Juniper Analysis, the full value of ecommerce fraud to retailers will exceed $48 billion globally this 12 months. Of this startling determine, Europe is cited as comprising 26% of fraud by worth. Towards this fraud panorama—and in a world during which customers count on more and more seamless digital experiences—issuers are tasked with the tough work of serving to to create belief in transactions.

So, how can the European monetary sector scale back fraud, improve approval charges, strike a steadiness with friction, and supply a greater buyer expertise, all on the identical time? Whereas this will appear to be it’s going to require an upheaval of programs and processes, it’s achievable. Danger-based authentication (RBA) is one such method that this may be supported, by making use of various ranges of strictness to authentication processes based mostly on the likelihood that an interplay is fraudulent.

Monetary companies gamers can leverage danger insights to allow issuers to progressively take away friction from the person expertise. This implies clients are protected by a related stage of safety that interprets into minimal influence and a seamless expertise—which leads to elevated belief all through the transaction lifecycle.

Join this Finextra webinar, hosted in affiliation with Mastercard, to hitch our panel of trade consultants who will establish what ought to be included in data-driven methods for optimising fee transaction experiences.