3 Common Myths About Real-Time Money Movement & Fraud

3 Common Myths About Real-Time Money Movement & Fraud

The danger of fraud has held many financial institutions back from committing to real-time money movement systems, but now the danger of indecision is just as harmful. We break down three common myths so you can confidently take on the risks of RTMM.

Real-Time Money Movements are Reshaping the Financial Ecosystem

Fraud professionals are facing a critical tipping point with the rise of the real-time money movement (RTMM) and its associated fraud risks. With their consumer-friendly, instant, cashless, and mobile-first real-time payment options, RTMM systems are not a trend—they’re a game-changer. The benefits aren’t all for consumers, either; RTMM systems provide FIs with better cash flow management, reduced settlement risk, and streamlined operations. This evolution benefits everyone . . . including fraudsters. 

This fast-paced money movement has led to fast-changing “facts” about RTMM. In NeuroID’s work with fraud prevention leaders across the FI ecosystem, we’ve heard firsthand how uncertainty around RTMM and fraud is causing many to hesitate implementation. In this guidebook, we’ve broken down the top three myths we’ve encountered and why they’re likely hindering your adaptability at this pivotal moment in the changing financial world.

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