Online card-not-present (CNP) fraud is exploding. Record data breaches and “bad bots” have equipped fraudsters with the information and tech necessary to perpetrate CNP fraud on a massive scale – just as chip-card proliferation in the U.S. has materially shifted focus from the physical point-of-sale (POS) to e-commerce. Are you ready?
As we approach 50% chip-on-chip card volumes, many issuers are focused on incremental liability at the POS. Missing the bigger picture of rising CNP fraud, issuers may delay allocating resources to the authentication, tokenization, and real-time transaction analytics necessary to protect their cardholders online against what is, by all accounts, a materially bigger threat. And overreacting with tighter authorization criteria and automatic declines can devastate cardholder experience and erode card use and interchange revenue. Join us for a review of the best ways to manage and mitigate the rising tide of CNP fraud and “false-positive” declines.
- Sizing the threat of card-not-present fraud
- Understanding the cost of false-positive authorization declines
- Reducing interchange and card usage
- Increasing card abandonment
- Best techs for minimizing and mitigating CNP fraud
- Online risk-based authentication (biometrics to behavior), tokenization, real-time transaction analytics
- Best practices for managing card authorizations and minimizing false-positive declines
- Consumer-defined controls, two-way alerts, geolocation
- Post-decline communications and timing
- TAKE-AWAY TOOLKIT
- Peer evaluations of effectiveness of CNP fraud-prevention tools
- Directory of CNP fraud-mitigation solutions and providers
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This presentation is designed for officers and staff responsible for the security, risk, administration, and marketing of debit and credit card programs. This topic’s strategic implications also merit the close attention of the CIO, COO, and executive management.
SPEAKER: Lee Wetherington, Jack Henry & Associates, Inc.®
Lee Wetherington is Director of Strategic Insight for Jack Henry & Associates®. He directs the development of actionable insight and strategy for the financial services industry. To this end, he creates programs, presentations, and articles designed to orient and educate financial executives on the trends and implications of new technologies. Lee has delivered over 500 keynotes nationwide focusing on opportunities and challenges in fintech, payments and digital banking, and is renowned for his unique style of comedic delivery. His articles and commentary have been widely published across the financial services industry.
Lee received his Bachelor’s in Economics and English from Duke University in 1990. In 1993, he completed graduate studies at Emory University before joining a payments startup born out of the backroom of a community bank in South Georgia. Lee earned his AAP certification in 1995. He was named “Strategic Alliance Executive of the Year” at the 2013 Golden Bridge Awards, which recognizes the world’s top executives across every major industry globally.