Financial Services & Banking Fraud in Real-Time Payments

Financial Services and Banking Fraud in Real-Time Payments

Watch the webinar replay, hosted by Nash Ali, Head of Operational Strategy at NeuroID, and David Liu, acclaimed expert in fraud risk management.

Join us for the first session in our three-part webinar series where we discuss the tremendous growth opportunity for Financial Institutions around real-time money movements (RTMM) and strategies to mitigate corresponding fraud. Although real-time payments only account for only a 1.2 percent share of the total payments volume1 in the US in 2022, transactions are expected to grow 364% by 2026. For FIs, herein lies an opportunity to grow their books and wow customers—considering 86% of consumers see value2 in receiving payouts from businesses in real-time. But the danger of fraud has held many FIs back from committing to RTMM systems, to the point that now the revenue loss from indecision is likely more harmful than the fraud itself: card-issuing banks that take a timid approach to payments innovation could lose out on 4.6% of total global card and online payments revenues,3 or $89 billion, in the next three years.

What we’ll cover:

  • The rising growth across the US in real-time payments from PayPal in 1998 to FedNow in 2023.
  • Understand various fraud types expected to surge, including online transaction fraud, first-party fraud, scams, and their nuances.
  • Delve into the balance of liability management in financial services versus customer experience and brand management
  • Discover how to maintain a smooth user experience without compromising on rigorous fraud prevention measures.

Watch the Webinar Replay

Our Featured Speakers

David Liu is an acclaimed expert in fraud risk management, renowned for his strategic approach to combating diverse fraud types in fintech and banking. He was responsible for End-to-end fraud prevention for non-card products (4th largest Online Bank, Personal Loans, Business Loans, Corporate Clients, Membership Rewards Points, SBA Loans, etc. ) and global new accounts fraud at American Express. Later, he led Socure’s fraud suite of products (Fraud & Synthetic scores, Device Intelligence, Phone/Email/Address Risk & Correlation scores, Data Acquisition, Data & ML platforms, and Feedback). He is now an independent consultant, consulting for Fortune 500 banks, Fintechs, and fraud solutions providers.

Nash Ali is the Head of Operational Strategy at NeuroID. With over 20 years in risk management, payments, and fraud prevention, he previously held pivotal roles at MoneyGram International, WesternUnion, and Bank of America. He earned his MBA from UC Berkeley and a BS in Electrical & Electronics Engineering from the University of Louisville. Recognized as the “Innovator of the Year” by Western Union in 2010, Nash is known for his strategic insights and industry relationships. At NeuroID, he focuses on integrating behavioral analytics to enhance customer onboarding, reduce fraud, and improve operational processes.

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