Featurespace - April 2022 - The FRAML Payments Guide: How To Deploy A Holistic Risk Hub - Learn how to deploy a risk management hub to combat fraud and money laundering attempt

FRAML Payments Guide: How To Deploy A Holistic Risk Hub

The New Way Banks, FinTechs Are Fighting Financial Crime

There’s a new acronym in town and it promises to improve per-transaction risk scoring and stem the tide of financial crime. FRAML — the integration of Fraud + Anti-Money Launderingstrategies for FIs and FinTechs, uses cross-channel transaction data, consumer behavior insights and device ID information to protect the user experience and the downside risk of losses, the FRAML Payments Guide: How To Deploy A Holistic Risk Hub, a PYMNTS and Featurespace collaboration, explains.

Inside the April Playbook

  • COMPLIANCE OPTIMIZATION: An integrated fraud and AML solution should improve risk management and compliance processes or align identity confidence with a risk profile
  • MONITORING CRITERIA: Anti-fraud solutions must consider new forms of digital identifiers to detect potential risk
  • DATA VALUE: Risk management analysis should employ unique data, processes or technologies that can support digital identity evidence’s legitimacy

    By completing this form, you agree to receive marketing communications from PYMNTS and consent to the sharing of your information with our sponsors, where applicable, in accordance with our Privacy Policy and Terms and Conditions. Sponsors may use this information to contact you directly. You may update your preferences or withdraw your consent at any time.

    to our daily newsletter, PYMNTS Today.

    AML and Fraud Prevention