Compass Plus Releases White Paper on Payment Fraud
William Mills Agency
NEW Office: 212-510-7974
Offers insights into how a multi-layered approach can help combat fraud
MIAMI – August 29, 2012 – Compass Plus, an international provider of retail banking software and electronic payments systems to financial institutions, has released a white paper, The Rise and Fall of a Fraudulent Transaction, which looks at the evolution of financial services and how financial institutions must deploy multiple layers of protection in order to stay ahead of the fraudsters.
According to the paper, the financial services sector has undergone a transformation in the last 10 years with customers no longer needing to visit their bank – Internet, mobile and self-service kiosks, including ATMs, now provide access to services at all times. This shift to online banking, e-commerce and mobile wallets has presented a new range of opportunities for criminals and fraud has become a more pervasive global issue.
When it comes to fraud, financial institutions have to bear a number of hidden costs, including loss of customer confidence and damage to their brand and integrity. In the whitepaper, Compass Plus outlines the various types of fraud that are prevalent today and the numerous layers of protection that can be used to combat them.
“Financial institutions are in a constant race to protect themselves and their customers from fraud,” said Maria Nottingham, chief marketing officer at Compass Plus. “This white paper demonstrates how the integrated deployment of anti-fraud measures, as well as proactive and reactive data management and analysis, can be powerful weapons in the prediction, prevention and control of fraudulent behaviours.”
The Rise and Fall of a Fraudulent Transaction can be downloaded here.
About Compass Plus
Compass Plus provides comprehensive, integrated and flexible software and services that help financial institutions meet rapidly changing market demands. Our diverse customer base spans retail banks, processing centres, national switches and personalization centers across Europe, Asia, Africa, the Middle East, and North and South America. With more than seventeen years experience, Compass Plus helps build and manage electronic payment systems that generate new revenues and improve profits for its customers.
For more information visit: www.compassplus.com.