Finextra and NICE Actimize release new European Fraud Insights survey report

Fraud is becoming more sophisticated, and it is hitting the bottom line of businesses offering credit and digital payments. This new report highlights that traditional security measures are no longer enough to stop modern identity theft and account takeovers. For retailers and service providers, this means your financing application process is likely a target for automated 'bot' attacks and synthetic identity fraud. The survey indicates a massive shift toward real-time fraud detection. If your checkout process doesn't verify identity instantly, you risk high chargeback rates and lost inventory. Europe is currently the testing ground for new regulations that force payment providers to be more transparent about security. For business owners, the message is clear: you need to audit your financing partners. Ask your lenders what they are doing to prevent 'authorized push payment' fraud. If your financing platform feels clunky but secure, that is actually becoming a competitive advantage. Customers are starting to prioritize safety over a 10-second frictionless experience if it means their data is shielded from hackers. Don't wait for a breach to upgrade your tech stack.

Source: Finextra — Lending

← Return to the library· Submit a correction