Fintech Fraud Detection

Mitigating Fraud and Managing Risk in the Fintech Sector

Increasing economic challenges sparked by the world health crisis, slowdown in funding as well as political turmoil are reshaping market dynamics.

Fintechs Need to Mitigate Fraud-Related Financial Losses

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Macroeconomic Factors Impacting Fintechs

Fintech fraud Mitigation
Amid uncertain macroeconomic conditions and global economic downturn, fintechs need to assess overall costs and minimize fraud-related losses, enhance their current security protocols, retain consumers  and optimize the operational efficiency of tackling fraud. Key factors impacting fintechs:

Pandemic Recovery

Recovery from the worldwide economic crisis brought about by the pandemic continues to be impacted by lasting issues such as supply chain disruptions.
Market Volatility

Shares in recently listed U.S. fintechs, some of which operate internationally, have fallen by an average of more than 50% since the start of 2022.  Almost half a trillion dollars has been wiped from their valuation.

Russian War Against Ukraine

Geopolitical instability remains a top-cited threat to the global economy, as of June 2022.

Rising Interest Rates

Inflation has prompted the fastest rise in global interest rates since the early 1990s.

Rising Inflation

Inflation has reached its highest level in decades, across many countries globally including the U.S., UK,  Turkey, Brazil and Argentina.

Slowing Global Economic Growth

Global growth is expected to decrease from 5.7% in 2021 to 2.9% in 2022.

Leverage LexisNexis® Risk Solutions Robust Fraud Intelligence to Effectively Minimize the Cost of Fraud and Preserve Cashflow

Access global insights to better help predict, detect and prevent the main drivers of fraud. 

Reducing the cost of fraud means improving overall business results. When you’re able to quickly and effectively detect fraud threats and protect your consumers, you can deliver a positive experience - exactly what consumers expect to continue transacting with your business.

By combining device, physical and digital identity intelligence, behavioral biometrics and seamless authentication solutions, the LexisNexis® Risk Solutions suite of fraud management solutions enables you to choose the appropriate level of step ups for each transaction at every interaction across the customer journey to mitigate fraud. A multi-layered approach also helps protect and personalize the consumer experience at each touch point.

Download the Fintech Solution Brief to learn more about how fintechs can fight against fraud.

Access Full Fintech Solution Brief Here

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