Выпусков: 100

Podcasts from Glenbrook Partners on the latest developments in payments and fintech. Featuring interviews with opinion leaders, Glenbrook's own take on emerging technologies and industry trends, other news and views on this dynamic industry.

Payments on Fire® Glenbrook Partners, LLC

    • Бизнес

Podcasts from Glenbrook Partners on the latest developments in payments and fintech. Featuring interviews with opinion leaders, Glenbrook's own take on emerging technologies and industry trends, other news and views on this dynamic industry.

    Episode 112 - What the Mobile Ecosystem Brings to Risk Assessment - Rodger Desai, Payfone

    Episode 112 - What the Mobile Ecosystem Brings to Risk Assessment - Rodger Desai, Payfone

    As our lives shift online, our providers needs strong digital representations of each of us in order to make authentication and authorization decisions. Besides payment transactions, there are the diverse risks they must manage when, for example, we establish new credit relationships, add new payees to our online accounts, and move money in new ways. The providers of these capabilities—and often a single party offers multiple services—must be concerned with the associated risks each poses.
    This is the special domain of risk and fraud management companies. In this conversation with Payfone’s CEO Rodger Desai, we focus on digital identity services and the role of the mobile ecosystem in particular. Take a listen.
    Many risk and fraud vendors base their services on different data types, such as the email address, SSN, or phone number.
    In Payfone’s case, it is the combination of the mobile number, the device it is connected to, and the mobile network serving it that have powerful attributes to measure against. Relevant data attributes include:
    1. Tenure. How long the mobile subscriber has had the phone number tells a lot about the subscriber itself.
    2. Phone’s Aren’t Free. Unlike email addresses which are cost-less, almost anything to do with a phone costs money, i.e. the service and device costs. Therefore, phone-based frauds, for the fraudster, cost money. Such hacks don’t scale as well as a card data breach. But when there is a phone-based hack, the impact on the victim can be particularly severe.
    3. Lots of Activity to Examine. With 50% of American eleven year olds having phones, we generate a rich history using our phones. For billing purposes alone, that activity is tracked by the mobile network ecosystem and, given appropriate privacy controls, can be used to support risk decisioning.
    4. Even More Data. Biometric unlocking of devices, behavioral fingerprinting—how we actually interact with the device user interface—and device fingerprinting—the digital portrait developed from such rich data—expand the data available for risk assessment.
    The union of all this data paints a crisp digital identity once algorithmic power has been applied to it.
    In this episode of Payments on Fire® we discuss the risk assessment capabilities the mobile ecosystem provides with Payfone’ CEO Rodger Desai. His long experience in mobile “phone intelligence” informs this discussion. He explains how some very large clients are using Payfone’s scoring capabilities to assess transactional and account risk while addressing the challenge of improving the user experience. Risk and convenience are often at odds. Payfone’s services are designed to mitigate that conflict.
    Today’s digital identification capabilities are powerful. But fraudsters are fast moving and well funded. For the relying parties—those enterprises that take on the risk—the role of defense is a tough one. Priorities, cost, business goals, even awareness vary. Each and every party’s approach to risk assessment is unique. Risk tolerance for the same transaction will differ from bank to bank, from enterprise to enterprise.
    In other words, individual enterprises can assemble strong risk assessment and mitigation capabilities while, from a systemic view, there will always be gaps to be exploited. The best we can hope in today’s environment is for each enterprise to raise its security game.

    • 30 мин.
    Episode 111 - Managing Ecommerce Fraud - Colin Sims, Forter

    Episode 111 - Managing Ecommerce Fraud - Colin Sims, Forter

    The U.S. has just come off a record setting holiday shopping season with e-commerce sales rising over 18%. While the numbers aren’t in yet, there’s no doubt the fraudsters also had a record year. There are so many ways to defraud consumers, merchants, and financial institutions.
    At Glenbrook, we are optimistic about our longer term ability to deter, prevent, and detect fraud. Our kit is getting better. The combination of tech and rule making will payoff: strong authentication enabled by standards-based smartphone-enabled biometrics; regulations requiring strong authentication as put forward in the EU through its SCA rules; and our expanding ability to detect new attacks using tools that operate within the transaction flow.
    It is this last area that is the topic of this Payments on Fire® episode. Fraud detection tools operated by or on behalf of merchants that examine transactions are today’s major line of defense against payment, loyalty, and coupon fraud. In this conversation with Colin Sims, COO of fraud prevention company Forter, the development, deployment, and maintenance of a modern fraud management platform is the topic.
    Colin and George discuss how fraud management and prevention technologies continue to evolve, Forter’s own approach, the role and impact of PSD2 and SCA regulations in the EU, and how fraud continues to adapt. While machine learning is a central technology, Colin makes clear that human effort and insight is what makes the difference.

    • 40 мин.
    Episode 110 - Building Out and On a National Faster Payments System

    Episode 110 - Building Out and On a National Faster Payments System

    Deployment of “clean sheet of paper” payment systems is a once in a generation event. In over 50 countries, new account-to-account push payment systems are either in full scale operation, implementation, or fully committed planning stages. The U.S., for example, has the RTP Network in operation and, in a few years, the FedNow system will be online.
    This is hard, serious work. Technology decisions need to be paired with equally rigorous rules making. One of the major concerns for these systems is what to do when a transaction is sent in error or initiated by a fraudster. In contrast to card systems, dispute resolution capability is not a standard feature. These choices should reflect clear agreement and follow through by the system’s key participants.
    In this Payments on Fire® podcast, Glenbrook’s Elizabeth McQuerry talks with builders of dispute resolution, complex messaging, and connectivity capabilities developed around Australia’s New Payments Platform (NPP).
    Joining Elizabeth are Jack Baldwin, Chairman of BHMI, a U.S.-based developer of bank-grade settlement and reconciliation systems, and Nathan Churchward, Head of Product, Emerging Services at Australia’s Cuscal Limited. Cuscal is a developer of payments capabilities that include card issuing and acquiring, mobile payments, fraud prevention, switching and settlement.
    There’s a lot to be gained by learning from someone else’s experience. Nathan and Jack address the dispute resolution process, ISO 20022 messaging, and the significant effort needed to build out systemically important payment infrastructure. Take a listen and you’ll gain a deep appreciation of the interplay of rules, regulations, technology, and effort.
    Glenbrook Partners is working with the U.S. Faster Payments Council to help shape rules in the U.S. and address significant concerns around system interoperability, directory services, and dispute management. Take a look at the Faster Payments Barometer based on our industry survey. And visit the U.S Faster Payments Council site for more. 

    • 35 мин.
    Episode 109 - Bitcoin SV, a Payments and Data-focused Path in Bitcoin Evolutio - Jimmy Nguyen, Bitcoin Association

    Episode 109 - Bitcoin SV, a Payments and Data-focused Path in Bitcoin Evolutio - Jimmy Nguyen, Bitcoin Association

    If you thought bitcoin was dead as a payments system, take a listen to George and Jimmy Nguyen, founding president of the Bitcoin Association, as they discuss Bitcoin SV, a new version of bitcoin that is a significant upgrade to the performance and capabilities of the original bitcoin protocol put into the world a decade ago.
     
    From a payments perspective, bitcoin has failed. While successful as an albeit volatile store of value, its failings include:
    It is slow, only able to handle 2 or 3 transactions per second with a peak rate of 7. Visa handles 50K at peak holiday times with aplomb. While transactions are irrevocable, they are not immediately written to the blockchain. Core design specifies that that happens every 10 minutes but when the network is under load it has taken hours. Processing cost is too high, measured in dimes and dollars, and also volatile As the processors, known as miners, are rewarded with fewer bitcoins for their work, they’ll have to rely on processing revenues, transaction fees, to stay viable. Costs are already too high There’s the high power usage of the network that’s needed to maintain consensus, essentially trust in the network. If you thought bitcoin was dead as a payments system, take a listen to George and Jimmy Nguyen, founding president of the Bitcoin Association, as they discuss Bitcoin SV, a new version of bitcoin that is a significant upgrade to the performance and capabilities of the original bitcoin protocol put into the world a decade ago.
    Jimmy brings a refreshing view on cryptocurrencies and payments. Jimmy provides a great review of how bitcoin works and why both its performance and its economics are broken. He explains the advantages of the Bitcoin SV fork and why it was necessary. Suffice it to say, bitcoin’s evolution is subject to the often fractious politics of that community where competing interests inhibit long term thinking.
    Bitcoin SV has intriguing potential. Micropayments, sub $1 transactions, have never found a home in electronic payments. BSV could apply there.
    BSV is also designed to use enormous blocks in order to keep processing costs low and provide the ability to store massive amounts of data about the payment. 
     

    • 37 мин.
    Episode 108 - B2B Payments for the Massive Insurance Segment - Jeff Brown, VPay

    Episode 108 - B2B Payments for the Massive Insurance Segment - Jeff Brown, VPay

    Join Jeff Brown, president of VPay, a firm specializing in insurance claims payments, and George Peabody of Glenbrook Partners in this deep dive discussion of how the work of claims processing is done and how he approaches B2B payments, compliance, and the value-added services needed by the company’s customers.
    The B2B Domain
    We’re all familiar with the card present POS domain, card not present Remote domain, P2P payments, and the Bill Pay domain. A phone tap here, a card swipe there, a bill payment to the utility company. On a day to day basis, our personal experience with payments is these areas.
    The B2B and B2C payment domains are very different. There is a wide range of industries with very specific payment needs. (Listen to episode 92  to hear how customized payments can become. Roadsync’s Robin Gregg talks about the special paper check type built just to serve independent long haul truckers.)
    Insurance is Huge
    One of the biggest industries is insurance. Premium payments in the U.S. alone are over $1.2 trillion. Payouts by stakeholders, such as healthcare systems and property & casualty insurers, and made to individuals claimants and service providers amount to trillions more.
    Insurance is definitely big enough to be a very attractive vertical to a payments service provider.
    Knowing Your Customer's Business
    If you are a PSP serving a particular vertical market in the B2B space, you have to know at least as much about the vertical you serve as you do about payments operations and services. For example, if you’re making healthcare payments, you have to comply with the strict data privacy requirements specified by HIPAA regulations. You may have to support specific data formats. And you should help your business customers deliver useful features to their own customers.
    If you want a great explanation of how payments fits into a vertical market, you can’t do better than listening to this episode of Payments on Fire®.

    • 43 мин.
    Episode 107 - The Financial Inclusion Impact of the Digital Wallet in Columbia - Hernando Rubio, CEO, Movii

    Episode 107 - The Financial Inclusion Impact of the Digital Wallet in Columbia - Hernando Rubio, CEO, Movii

    Digital disruption and financial inclusion are focus areas throughout the developing world and the topics are white hot in Colombia. Listen in as Hernando Rubio, CEO of Moviired, speaks with Elizabeth McQuerry and George Peabody about Movii and payment / financial inclusion ecosystem in Colombia.
    Financial Inclusion in Colombia
    Although one of the first countries in Latin America to make a big policy push for financial inclusion, those efforts focused a “banking correspondents” or agents in local stores carrying out basic financial services on behalf of banks. While these correspondents greatly improved access to financial services, they have not fully produced the desired results. According to the World Bank, fewer than half of all adults have a bank account and only a handful (less than 5%) have a transaction account from a telco led service. Very few Colombians use those accounts to pay bills or buy something on the internet. Cash is still preferred.
    Enter the SEDPEs
    In 2015 regulators in Colombia created a new category of licensed financial institutions called a   special company for electronic deposits and payments, or SEDPE by the Spanish language initials. While a bank can also pursue this type license to focus financial inclusion efforts, the main conceptualization of SEDPEs are fintechs that gain authorization to take deposits and make payments – the two most basic (and still lacking) aspects of financial inclusion. SEDPEs are not allowed to make loans but can partner with others to make small credits available.
    Movii
    Rubio’s Movii was the first SEDPE to be authorized by regulators. Movii is a classic digital service that offers a wallet for storing funds, access to a reloadable debit card from Mastercard for buying in stores and on the internet, bill payment, mobile top ups and transfers to other Movii users. Movii also recently connected to the new national real-time payment service (Transferencias Ya) in order to be able to reach all account holders in Colombia. Movii builds off the company’s experience managing Moviired, an extensive network of physical agents in stores and bank correspondents throughout Colombia, that people use for those basic payments. Hear how a company disrupts itself as it lays the foundation for the next generation of financial services.

    • 37 мин.

Топ подкастов в категории «Бизнес»

Слушатели также подписываются на