During this time of disruptive evolution, banks must consider how to achieve more than just a fast payment transaction through participation in the real-time movement. They must take a position that allows them to efficiently scale alongside the changing ecosystem and grow their business through customer-centric innovation and reach into new markets. Real-time readiness should be viewed as a strategic leap towards modernization, both from a business model and technology perspective.
Though Real Time Payments may have clear benefits, it also create new opportunities for fraudsters to steal funds and digital identities. Bad actors can utilize ATOs (Account Takeovers) and application fraud to take advantage of real-time payments rails and access stolen funds.
DataHub is working with IBM on building our Real Time Payment fraud modules to help keep customers accounts safe. With Artificial Intelligence technologies and over 10 years banking/payment experience, our team can help you build out the most robust fraud detection system for your customer base around Real Time Payments.
Money Flow For Real Time Payments