Consumers are investing most of their spending power in the digital space, purchasing goods and services via the online and mobile channels that they have traditionally bought in brick-and-mortar locations. As spending patterns have evolved, fraudsters have shifted their focus on digital merchants and developed new techniques to exploit the online and mobile channels.
Currently, the global industry dealing with Financial Institutions (FIs) is undergoing a paradigm shift with an influx of technology, demographics, and regulatory dynamics. Growth in digital payments, innovations in cross-border payments are impacting FIs in terms of fostering competition, nurturing innovation and enhancing system related efficiencies.
Quatrro’s Evaluation on the Impact of the Rise in E-Commerce Fraud
As volume continues to shift to the digital channels, fraudsters are investing more of their efforts on identifying and exploiting the unique attributes of e-commerce. According to a recent study merchant‘s total fraud losses crossed $15.5 Million in September 2017.
In the fast changing scenario, Quatrro provides a shield to merchants to remain nimble and vigilant and maintain their revenues with high profit margins.
Cross-channel fraud is a fast emerging threat. Quatrro underscores the need for FIs to deploy robust defense mechanisms like automated detection systems that monitor suspicious activities and initiate corrective actions.
A recent massive breach at a leading credit bureau, affected almost 145.5 Million people in the United States. Hacking at the US Securities and Exchange Commission System (SEC) has further increased the data security concern of businesses.
Meet Quatrro at Money 20/20 to Stimulate a New Outlook for Your Business
At Money 20/20, the leading FIs and Merchants will get a chance to meet the pioneers of Quatrro Processing, who will introduce business to an integrated suite of fraud prevention and detection services across multiple payment channels that help combat fraud.
In global markets, Quatrro offers strong benefits to merchants in terms of Big Data and social media analytics that help in evaluating rules/algorithms, assessing fraud patterns and trends thus reducing false positives and friendly fraud.
Financial Institution Services
Quatrro’s service offerings help financial institutions fulfill the ever-changing customer needs, payment modes and patterns with urgency and timeliness that the marketplace demands without any significant upfront investments in technology and infrastructure. Quatrro takes pride for its consortium of fraud prevention and detection service that drills down evolving risk challenges.