Nationwide Multi-Channel Fraud Prevention
In this SIBOS interview, the French National payment switch STET talks about how they are using IBM Safer Payments to protect 20.4 billion annual payments of all channels and types from fraud.
In the video, STET explains their use of Safer Payments to protect SEPA instant payments as a new channel addition to their multi-channel implementation. This is covering all their processed payment instruments including card issuing/acquiring, SEPA, instant payments, 3DS20 step up, inter-banking, and wallets.
They are in real-time operation since 2014, and in 2019 they reported more than €100 million annual savings with a strongly growing trend. It is very remarkable that STET achieves this performance with a false positive rate of only 1:1, which is only a fraction of the market average.
