Deutsche Bank to roll out fraud, verification and routing tech across global payments

Deutsche Bank is upgrading its global payment infrastructure through a new partnership with IPID. For retailers and operators, this means the back-end technology powering consumer transactions is becoming more secure and efficient. The bank is integrating advanced 'intelligence capabilities' designed to verify accounts and route payments more accurately in real-time. As a merchant, the primary benefit here is a reduction in payment friction. When customers attempt to pay via bank transfers or digital methods, the system can now verify account details instantly to ensure funds are going to the right place. This technology specifically targets 'Authorized Push Payment' (APP) fraud, where scammers trick people into sending money to a fraudulent account. By catching these errors before the transaction is finalized, lenders and retailers can reduce the administrative headache of disputed payments and failed settlements. While this is a behind-the-scenes banking upgrade, it ultimately leads to higher authorization rates and safer checkout experiences for your customers.

Source: Finextra — Lending

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