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Solutions |
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How we can help combat fraud and secure your payments processes
Protecting your payments processes is a challenge you must tackle on a several levels; taking a risk-based approach to the threat of external fraud, protecting your employees from exposure to internal fraud and also, being able to maintain business continuity in the event of a disaster/catastrophe. All three scenarios have the potential to damage your reputation, your customer service and ultimately impact your bottom line. Experian Payments have solutions that can help you ensure you protect your payments and your cash-flow.
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Avoid theft of your goods and services »
Fraudsters posing as legitimate customers either steal someone else’s bank details or use a fictitious account that doesn’t exist in order to obtain goods or services. The result is lost stock, loss of income and wasted time in cancelling invalid Direct Debit instructions. We can help you reduce payment fraud by identifying fraudulent Direct Debit set-ups before you process them. |
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Improve efficiency and identity in payments »
Increasingly, best practice guidelines advise you to take measures to ‘know your customer’ and ensure that the bank account details given are those of an account that does actually belong to them. The process must be secure but at the same time efficient so as not to impact your customer service. We can help you make the connection between your customer and their bank account without the need for paper-based authentication.
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Ensure robustness of your payments processes »
Although your organisation will almost certainly have disaster recovery plans in place, how well would yours cope if the worst were to happen? Could you continue to make Bacs payments and collect Direct Debits, ensuring fundamental cash is received in to your business? We can ensure automated disaster recovery and the reinstatement of your payment systems with the least possible disruption in the event of an emergency. |
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Take a risk-based approach to customer acquisition »
In the financial services sector the FSA stipulate that Know Your Customer (KYC) checks should be carried out on all new customers. Not all customers will have the same value to you, so your business processes should reflect this. We can help you make risk-based decisions on customer acquisition and effectively manage exceptions, while at the same time demonstrate best practice on fraud prevention.
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Provide an audit trail and deter internal fraud »
Providing full audit trail and management information across all payments and statements is a challenge for any organisation, but getting it right will help reduce manual error and internal fraud. We can help you by implementing the highest levels of access control and user authentication for your payments systems. |
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