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Ready Or Not, Faster Payments Will Impact Corporate Operations

PYMNTS

” This focus on faster, single-payment processes has also introduced shifts in payment security and fraud mitigation efforts, which are likely to make a mark on corporate payment strategies moving forward.

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Finovate: FICO Falcon X Detects Fraud, Financial Crime

FICO

The fact that real-time payments are immediate and often irrevocable has given rise to more sophisticated criminal threats in digital interactions such as person-to-person transfers and mobile payments. The real-time financial crime threat is real.

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Rewiring the cross-border payments paradigm: Risk and security in correspondent banking confirmation

The Payments Association

Without equivalent protections, theres a real risk that a completed transaction could be unwound if a counterparty fails, she warneda risk amplified when payments are irrevocable and instantaneous. Cross-border payments, however, often fall outside these safeguards.