ING partners for fraud prevention

ING is joining with a global risk management software provider to upgrade its fraud detection and prevention facilities.

The move occurs ahead of the Reserve Bank of Australia (RBA) launching the New Payments Platform, which will allow real-time transactions between any participating authorised deposit-taking institutions. ING has described itself as a "day-one participant," and has joined up with INFORM GmbH to ensure customer security.

INFORM's RiskShield software uses "smart decision logic" and is flexible enough to accommodate the RBA's requirements for NPP usage. It will allow ING to risk assess every real-time transaction more or less as it happens using live feeds, channel characteristics and detection of anomalous customer behaviour.

"Globally ING is a leader in banking security and draws on best practice from operations in more than 40 countries. We are looking forward to extending the partnership with INFORM in Australia," ING Direct Australia executive director, operations Adriana Sheedy said.

"We believe that RiskShield, a solution used in other key markets that ING operates in, will bring us what we need to ensure safe and secure payments for our customers.

"Fraud is a diverse and rapidly evolving challenge and we need to be able to act in real-time and stop fraud before it occurs."

Read more: FraudINFORMRiskShieldAdriana SheedyING Direct AustraliaReserve Bank of Australia
Editor's Choice
EMMA RAPAPORT
Xero chairman Chris Liddell will resign from the firm's board to take up a position as an aide to United States President-elect Donald Trump.
JAMIE WILLIAMSON
A global private equity firm signed a significant investment mandate with a sizeable Australian institutional investor.
EMMA RAPAPORT
The FPA has expelled a NAB-aligned member after he was found to have cheated on his CFP exam.
ALEX BURKE
Wilson Asset Management chair and activist investor Geoff Wilson is calling for Hunter Hall to provide shareholders the opportunity to exit the company's Global Value LIC at fair value.
Videos
Brought to you by
5 OCT 2016
We invite you to watch our latest video featuring Nikko Asset Management Australia Portfolio Manager and Senior Analyst Malcolm Whitten. In it he explains how taking an active approach to investing in ...
Get it Daily
Keep up to date, don't be the last to know! Get the Financial Standard Daily Newsletter.
SUBSCRIBE
Products
Pocket investment guides featuring adviser case studies and a glossary.
Investing trends and strategies from the industry’s thought leaders.
Putting the spotlight on investment products that matter.
Expert Feed
Alex Dunnin
FS ADVICE
Taking the risk out of insurance reform
Dysfunctional arguments Americans have regarding their Affordable Care Act remind us how poorly most people understand insurance. Following ...
John Dyall
FS SUPER
Undercooked arguments on fixed interest investment risks
People who follow investment themes of the moment will have heard that the risk of holding long term fixed income securities has increased ...
Christopher Page
FS PRIVATE WEALTH
Redefining the family office
While the family office model has traditionally been the preserve of the ultra-rich, this may be changing very soon. Last week, Findex ...
Michelle Baltazar
FS MANAGED ACCOUNTS
When the disruptors are getting disrupted
2017 is going to be another year for the disruptors, including managed accounts providers - but their challengers, too, are not too ...
JAN
31
FEB
2
FEB
6
FEB
8
FEB
9
Your Opinion
  What should be the minimum professional education for financial advisers?
SUBMIT
Featured Profile
Professional Subscription for $295
(inc GST) for 1 year.
SUBSCRIBE
OTHER PUBLICATIONS
FS Advice
The Australian Journal of Financial Planning.
Get the free iPad app
Download the Financial Standard iPad app for FREE.
DOWNLOAD
Link to something wQhgd4v4