SchoolsFirst Federal Credit Union’s Lesson in P2P Security
PYMNTS Digital Fraud Tracker, March 2019
P2P services have become popular because they allow users to quickly transfer funds, but with the ease comes risk. How can financial institutions strike the right balance between frictionless experiences, and secure transactions?
Zelle is one of the fastest-rising payments services, with $119 billion transacted in 2018. Amy Hsu, VP of Product and Research at SchoolsFirst Federal Credit Union, discusses the sophisticated algorithms that keep members’ Zelle transactions frictionless and fraud-free.
More insights from the new Digital Fraud Tracker:
- New security solutions for chargeback fraud.
- The rise of ATO and application fraud in a rapid-finance era.
- Why investors are backing a new cryptographic solution that uses a “shield” to protect corporate funds and stop payments fraud.