49% of Firms Use Bank Account Data to Flag Fraud

Businesses may be able to strengthen their fraud defenses by putting the bank connections they already have to fuller use. The PYMNTS Intelligence report “ Payment Protection: Why Firms Still Aren’t Real-Time Ready ” found in August that nearly all firms have secure access to customer bank data with permission, but fewer than half use those connections to generate fraud alerts from account activity. The report drew on a survey of 150 senior executives across seven industries that handle substant