Understanding the Hidden Cost of Faster Payments
Bank Info Security
"As FedNow expands into higher-value transactions with limits now reaching $10 million, banks are being forced to rethink their fraud strategy. To date, banks have managed to strike a balance between fraud prevention and customer convenience, often accepting a certain level of loss But real-time payments are collapsing the time for investigation. Transactions now become irrevocable within seconds, forcing banks to make fraud decisions before suspicious activity can be fully reviewed."
