FIS Modern Banking Platform
Advance your bank with a modern core platform.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
FIS Modern Banking Platform
Advance your bank with a modern core platform.
Data Restore
Protection from disaster.
Code Connect
The power of APIs with the scale of FIS.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
FIS Private Capital Suite
Data Exchange Solutions.
IFRS17
The right strategy for transformation.
Commercial Lending
Speed up the decision process.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
Worldpay is now FIS. Your experience is our top priority. We’re here to help.
Regardless of who commits fraud, one of two parties will pay for it: merchants or financial institutions. Fraudsters don’t care who picks up the tab, but if you’re one of the two parties being held liable, chances are you have significant interest.
Fighting fraud is a delicate balance between limiting the financial loss to merchants and financial institutions while increasing card users’ spending confidence. Studies have shown that when valid transactions are denied due to overly strict fraud controls, cardholders tend to switch cards and use cards they know will work.
No one benefits when a card is declined due to a false-positive. And fraud-related false positive declines are happening with more frequency, affecting 6.7 percent (1 in 15) of consumers.
To help illustrate the problem, each quarter, the major card brands take a look at gross fraud on a global scale. They look at three different categories:
Within these categories, there are two primary metrics that Worldpay is most concerned with: gross fraud and net fraud. The combination of merchant and financial institutions makes up gross fraud, where net fraud only accounts for what financial institutions are held liable.
According to US Issuer BPS based on Q2, 2018 Card Networks’ Benchmarking Reports, gross fraud for Worldpay issuers using OmniShield Fraud Suite for Financial institutions is 50 percent lower than the US average.That’s great news for the financial institutions that work with Worldpay, but what's your experience like?
Now’s the time to reevaluate how well your fraud system is performing. When it comes to insulating yourself against fraud, why wouldn’t you want better? Discover the advantage of Omnishield Fraud Suite. Start with a look at the infographic available right here. Then find out how we can help your financial institution by calling us today.
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