Data's growing availability and abundance are shifting how risk managers and marketing leaders make technology choices, evaluate opportunities, and design programs. As data sources increase, the potential of data analytics to minimize fraud and risk expenses offers improved cost control in cost-sensitive areas such as debit card issuing and e-commerce retail.
The effectiveness of the analytics, however, is dependent on myriad technical and soft factors such as database technology, process integration, regulatory and industry compliance and shifting behavior patterns among fraudsters and legitimate customers. The need to critically evaluate such factors within a rapidly evolving environment led Mercator Advisory Group to develop the new Fraud, Risk & Analytics Advisory Service.
The Fraud, Risk & Analytics Advisory Service will focus on the use of analytics in controlling fraud risk in various payments products lines, uncovering new opportunities, monitoring developments that impact growth, and highlighting regulatory and technological imperatives affecting all stakeholders.
Principle focus areas of the Fraud, Risk & Analytics Advisory Service include:
Fraud detection, identity, and authentication
Social media, mobile data, payments, and privacy
Opportunities for growth/emerging markets
"Financial reputation based on credit scores is merging with the reputation of online identities and social data to develop fine grained risk management,"
Payments industry professionals in a wide range of business lines are increasing their use of broader data sets and analytical processes to achieve their market goals says David Fish, senior analyst of the FRA Advisory Service.
"Fraud and risk management operatives will find value in Mercator's new advisory service, as will executives across the organizations who are seeking insight and understanding of the implications of Big Data and analytics in a wider market context," Fish said.
The first 2012 report of the new service, Card-Not-Present Risk Management Across the Value Chain, will be released this month.
For more information on Mercator Advisory Group's new Fraud, Risk & Analytics Advisory Service visit: http://www.mercatoradvisorygroup.com/
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About Mercator Advisory Group
Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.