This spring, QPS is heading to Park City for Unite 2018 – CU Prodigy Annual Meeting and this year is going to be a year of idea generation, problem-solving and empowerment. Team QPS will showcase its cross-channel detection and prevention solutions to credit unions, helping them effectively combat fraud and enhance member experience. QPS’
Category Archives: Financial Institution
Crime typologies are shifting. Today, Fraudsters have a global reach and an easy access to vast data collected as a result of data breaches. This makes the problem pertaining to the security of consumers’ personal information never-ending. As we progress to 2018, fraudsters discover new ways to contaminate the space for more money providing an
The world might seem smaller in this digital age probably as a result of the diversity of online business, payment landscapes and the resulting singularity of fraud patterns. The continued year on year growth in online shopping fueled by consumers’ demand poses significant challenges to merchants. The dynamic e-commerce business shows no signs of abating.
In a world of digital transactions and open communication, payments habitat is vulnerable to credit card fraud. Credit card fraud can be disruptive to an organizational framework, damaging a business’s credit report and can often be taxing for a company to investigate its root cause. To avoid premature discovery, fraudsters engage in low-level testing also
Non-traditional merchants are challenging the established matrix of the payments industry, leading towards customer-centric innovation. In the contemporary scenario, customers were increasingly demanding higher levels of service delivery and value added offerings from merchants. If merchants don’t adopt these technological innovations, they will remain in jeopardy of being overshadowed irrespective of their strong traditional fabric.
Same Day ACH, Phase III is set to take the center stage in March 2018, setting a high standards for global banking eco-system. It is developed as an immediate solution to respond to market demand, from both businesses and consumers, to move money faster. Post March 16, 2018, all financial institutions (FIs) are required to provide end-of-day
The fast mushrooming identity theft related tax fraud has emerged as the Gordian knot of the payment industry. As fraudsters scoop up consumer’s data, organizations face the challenge of optimizing consumer experience to stay ahead of the pack. Being a multi-million dollar industry in the US alone, tax fraud is expected to wipe off whooping
Money Laundering has become a critical outbreak which has significantly dampened the confidence of financial institutions (FIs). Collapses of high profile companies have increased the vulnerabilities of the effectiveness of corporate governance, quality of financial reports, and credibility of audit functions. Money laundering (ML) has been weakening the soundness of a country’s economy, as well
Financial institutions (FIs) are under unprecedented pressure from the confluence of escalating fraud threats. From losing customer’s trust to heavy financial losses, fraudulent activities can shut down any business. With a continuous surge in payment fraud and social engineering manipulations, financial institutions have turned into a fertile ground for a variety of financial fraud. Fraudsters
In the digital space, data thefts have been exacerbating the problem for financial institutions (FIs). Anti-fraud measures require fine tuning, being core drivers in business growth. According to a study, the global card losses will exceed $35 Billion by 2020. The figure is staggering, as it leads to impaired brand reputation and lower productivity. With