FinTech Magazine September 2019 | Page 50

BLOCKCHAIN
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T he emergence and growing availability of real-time payment systems is changing the way people move and manage money , bringing more choice and greater convenience . Greater payment speed has not , however , diminished the need for security . Quite the opposite , in fact , as real-time speeds shrink the window in which potentially fraudulent transactions can be stopped . Managing fraud is critical to financial institutions in a world of instantaneous payments and real-time settlement .

Securing real-time payments requires more than simply deploying the same risk management and fraud prevention solutions faster . When it comes to real-time payments , every step of the transaction processing lifecycle , including fraud detection , must be completed in fractions of seconds . This requires a ground up , designed for real-time approach , which leverages up-to-date processes and technologies in order to meet increasing cus-
SEPTEMBER 2019