Payments & Transactions

Payments modernization: Addressing threats and assessing new opportunities

Payments modernization initiatives around the globe have long been a topic of huge interest and are at different stages of implementation in different countries. Time and again, it has proven to be a catalyst for transformation that has fueled innovation. Canada is now completely into this modernization party, driven by the modernization agenda and timeline […]

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Stop waiting to apply AI for financial crimes

Challenges from financial crime incidents and penalties grow Criminal enterprises are becoming increasingly sophisticated at the same time as new payment methods are emerging (peer to peer and faster/immediate payments) and transaction volumes are exploding. And financial institutions across the globe are feeling the pain of high-profile financial crime incidents in the form of significant […]

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IBM in “Leaders” Quadrant of 2019 Gartner Magic Quadrant for IT Risk Management, fourth report in a row

Our goal has always been to provide our customers with the tools and insights that help them meet their governance, risk and compliance (GRC) needs, and we do so, by leveraging the innovation of IBM within a single ecosystem. It’s gratifying to see IBM once again positioned in the Leaders Quadrant of the 2019 Gartner […]

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Why real cross-channel payment data integration matters

According to the 2019 AFP Payments Fraud & Control Survey, Automatic Clearing House (ACH) payment fraud increased significantly in 2018, reaching a new record with 82% of organizations reported incidents. Specifically, the percentage of companies that encountered ACH credit fraud jumped to 20% (from 13%), and those who experienced ACH debit fraud rose to 33% […]

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Beware of data “science projects” turned fraud prevention solutions

As e-commerce has revolutionized the way we buy and sell online, we are no longer bounded by borders or time zones. Goods can be purchased from anywhere around the world at any time of day. Because of this, traditional rules-based fraud detection systems have become outdated and no longer work. Today, real-time payments require real-time […]

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Stemming the AML crisis and seeing immediate value with AI

When it comes to AML compliance, or the lack thereof, the financial industry is having rough year. A number of money laundering schemes have come to light, including the $8.8 billion Troika Laundromat, which have exposed or implicated a large swathe of the industry. Despite wide talk of deregulation, penalties from Office of Foreign Assets […]

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Model governance comes to fraud detection

Payment fraud detection has always had a bit more latitude than its counterparts in anti-money laundering, customer due diligence and even trade surveillance compliance. Unlike the latter areas, fraud prevention is an area not as heavily governed by regulations or specific rules of what a financial institution should or should not allow. It is obviously […]

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The Canadian payments ecosystem is at an inflection point

As the payments ecosystem in Canada continues to expand and evolve, IBM is looking forward to participating with industry leaders, innovators and challengers at the upcoming Payments Canada Summit, taking place in Toronto on May 14-16, 2019. With Canada’s comprehensive payments transformation in full swing, and with many new developments, players and recent announcements shaping […]

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Why FIS chose IBM Safer Payments for payment fraud prevention

With new payments products surfacing regularly, unpredictable threats also continue to increase with these new platforms and services. Balancing the need for adequate antifraud measures without impacting the customer experience has never been more important. In the emerging world of real-time person-to-person (P2P) payments, establishing a frictionless (and “fraudless”) experience is even more critical since […]

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Delivering differentiated business value with intelligent routing of payments

Innovative payment options today are driving competition and rapid changes in the payments industry. The payments business has started to embrace a more client-centric model as payments customers, both retail and commercial markets, increasingly demand new payment options such as real-time payments. Financial institutions serving these customers are looking at ways to offer flexibility and […]

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Succeeding in the future of payments

Embracing the future in the age of instant gratification The payments industry is at an inflection point. Customers increasingly demand new payment options like real-time payments and P2P payments, underpinned by security and trust. The costs of running payments operations, complying with a myriad of regulations and enforcing payments standards are increasing. Exposure to operational […]

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