- How do the challenges and benefits of implementing risk-based authentication compare? Is the risk worth it?
- What should data-driven strategies to optimize the payments experience include?
- How did PSD2 and 3DS lay the foundation for improved and standardized security for online credit and debit transactions?
- How should issuers and processors be educated about how machine learning and AI can help build trust into the transaction lifecycle?
According to Juniper Research, the total cost of e-commerce fraud to merchants worldwide will exceed $48 billion this year. Of this shocking figure, Europe is reported to account for 26% of the fraud amount by value. Given this fraud landscape – and in a world where consumers expect increasingly seamless digital experiences – issuers face the difficult task of helping to instill trust in transactions.
So how can the European financial sector reduce fraud, increase approval rates, and eliminate friction while providing a better customer experience? While it may seem like this would require upending systems and processes, it is doable. Risk-based authentication (RBA) is one way to support this by applying varying levels of rigor to authentication processes based on the likelihood that an interaction is fraudulent.
Financial services providers can use risk insights to enable issuers to gradually eliminate friction in the user experience. This means customers are protected by a relevant level of security that translates into minimal impact and a seamless experience – resulting in greater trust throughout the transaction lifecycle.
Register for this Finextra webinar, hosted in collaboration with Mastercard, to join our panel of industry experts who will explore what should be included in data-driven strategies to optimize payment transaction experiences.
