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Faster Payments, Faster Fraud – The Future of Faster Payments in the US

Following NACHA’s new rule for same-day transactions, businesses and consumers are now able to benefit from same-day transaction processing, providing quicker access to payroll, account transactions and the like. While beneficial for businesses and consumers alike, this has necessitated that banks and other financial institutions review thousands of additional transactions per day, leading to a significant increase in staff and operational costs—along with an increased potential for fraudulent activity due to sheer volume and rapidness of review. Uri will analyze the UK’s transition to Faster Payments, which saw banking fraud volumes triple, and discuss what the US can learn from this. He will also discuss the types of fraud that have emerged from the move to instant transfer of funds, as well as what has been successful in stopping cybercriminals. This webinar will dive deep into the UK fraud landscape and provide practical insights for the future of faster payments in the US.

Panelist: Uri Rivner, Co-Founder, Head of Cyber Strategy & VP Business Development at BioCatch

Host: Karen Webster, CEO at PYMNTS.com

When: Monday, May 1st at 1 p.m. EST

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About BioCatch:
BioCatch is a cybersecurity company that delivers behavioral biometric solutions, analyzing human-device interactions to protect users and data. Banks and other enterprises use BioCatch to significantly reduce online fraud and protect against a variety of cyber threats, without compromising the user experience. With an unparalleled patent portfolio and deployments at major banks around the world that cover tens of millions of users to date, BioCatch is an industry leading provider of behavioral biometrics for mobile and web applications.

Available as a cloud-based solution, BioCatch proactively collects and analyzes more than 500 cognitive parameters to generate unique user profiles and model different types of genuine and malicious behavior. The BioCatch platform continuously authenticates users to protect against cyber threats and fraudulent activity, such as account takeover and RAT-in-the-Browser (RitB), reducing false alarms while providing impressive returns on investment.

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