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TCH’s Waterhouse: Real-Time Payments’ 2021 Focus Is On Smarter, Safer

PYMNTS

Waterhouse said the big evolution for the year ahead will involve taking what are now typically debit transactions like check or automated clearing house (ACH) debit and migrating those to the RTP network combining a Request for Payment (RfP) with a consumer authenticated RTP payment.

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How Banks Can Overcome 10 Challenges with FedNow Payment Sending and Acceptance

Finovate

Ensuring compliance in real time Just as they do with ACH payments, banks need to ensure they are complying with regulatory requirements, including KYC, AML, and other regulations. Also, firms can implement advanced consumer authentication methods and mandate ongoing fraud prevention training for staff to further mitigate risks.

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Stopping Scams with Artificial Intelligence and Machine Learning

FICO

By convincing individuals to send money through apps like Venmo, CashApp, Zelle and others, or adding a payee for traditional ACH transactions, fraudsters are perpetuating what is known in the financial industry as Authorized Push Payment (APP) fraud (in the UK) or authorized user fraud (in the US). Debbie holds a B.A.

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Fraud Prevention: Don’t Worry – Be Happy?

PYMNTS

Not only are we going to see [fraud] online, we are going to see it in traditional check-based systems, ACH-based systems, and again coupled with data breaches that we know have happened through insurance companies, payroll companies, etc.,” Mobile can serve as a very unique identifier when it comes to consumer authentication.

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Ex-NSA Director: ‘Cyberthreats As Bad As Ever’

PYMNTS

A debate ensued about two-factor authentication and the value of such security measures, with it boiling down to one question: how to balance consumer authentication without a frictionless commerce experience. Securing identity should be at top of mind — all, of course, while keeping consumer privacy in mind.