Challenge : balancing growth and fraud protection for APAC business players
Coronavirus accelerated the shift to digital economy. To stay afloat a lot of companies had to relocate their budgets from brick-and-mortar activities to digital strategies
According to a new forecast by Forrester, online retail sales in Asia Pacific will grow from $1.5 trillion in 2019 to $2.5 trillion in 2024. Asia Pacific is forecasted to outpace the rest of the world, representing a whopping 64.3% of global e-commerce spending.
Cross-border purchases are the leading cause of online payment fraud; accounting for over 47% of fraud losses in 2021.
So what are the best practices in fraud detection that won’t scare away the customers, yet protect the company from large financial losses?
Finding a good balance between embracing the new market potential and keeping onboarding and transactions smooth, and secure, is key. Past practices of doing basic identity checks and submitting government ids to onboard customers is no longer good enough. Other data and verification sources must be employed, especially in cross-border verification of clients.
This webinar will
• Discuss the developing market trends, such as growth in digital cross-border payments and the fraud landscape;
• Challenges experienced by various market players and business impact of fraud practices;
• How you can address the negative impact with the latest technology and operational tools, and reduce fraud;
• Discuss best practices in verifying cross-border identities and transactions while decreasing false positives and customer dissatisfaction;
• Discuss essential checks, filters and preventive measures that are needed, next to orchestrated secure solutions.
Jointly with Ekata we will highlight next generation breakthroughs and solutions that help business to secure best practice onboarding and transacting.
Join and learn from top expertise from Asia & Europe!