Cardholder security is very clearly at the front and center of the payments ecosystem “to-do” list. And with that comes the search for a solution that keeps cardholder data secure and curbs bank fraud. 3-D Secure, a protocol designed to help online merchants reduce the incidences of fraud online was designed to do just that.
But 3-D Secure has been often criticized for creating too much friction into the process – putting the 95 percent of people who aren’t the bad guys thru the ringer instead of focusing on the 5 percent who might, in fact, be sketchy.
CA Technologies, who is the co-creator of the 3-D Secure protocol, is addressing this by leveraging behavior-based authentication models to take on the important authentication work in the background, positioning 3-D Secure as a robust tool for reducing fraud losses in ecommerce transactions without subjecting consumers who just want to buy legitimately online with one big friction point.
On Thursday, May 22, 2014, PYMNTS.com will chat live with CA Technologies’ Revathi Subramanian, Senior Vice President, Data Science who’ll talk more about:
- The challenges of fraud detection in a financial services environment
- The use of statistics, including effective ways to measure losses per account and ROI by product/initiative
- The “Ten Commandments” for tackling fraud and ways to build an effective model for fraud management, and the attitudes, strategies, and technologies that specialists need to combat fraud