New and sophisticated security threats surface daily in this high velocity electronic payments world. They keep pace with the surge in ecommerce activity, cross-border money movement, mobile transactions, real-time payments and innovative payment methods such as biometric and blockchain payments. Online information sharing and multiple access points open up additional opportunities for cybercriminals. EMV enabled POS terminals move fraud from in-store to online. Financial institutions already under the pressure from new regulations and rising customer expectations experience crippling high-profile data breaches damaging their goodwill and reputation.
To survive in this volatile environment, payment companies need an enterprise-wide scalable and flexible fraud detection solution that must stay ahead of criminal activity.