Last week we launched an online community focused on discussion and idea sharing on topics and concepts touching the payment facilitator community. I am excited to learn from this group and share my own experiences and ideas.
We will start new discussions regularly that analyze and explore a variety of topics including best practices, business models, how the payments landscape is evolving and what that means for the PF community. We encourage others to post ideas and discussion topics as well. We want to make this a rich and engaging forum.
This week we are looking into using social media as a risk and fraud mitigation tool.
In addition to businesses using social channels to connect with their customers and clients, some Payment Facilitators have found it’s also an effective tool for fraud and risk management.
This is very beneficial in making the underwriting process more seamless. It works by using social data to quickly populate information into the system, which means fewer questions to the applicant and a much faster overall experience. Using social can also help to identify businesses and people to determine if they are real and who they say they are.
One very interesting trend happening that makes this data more useful and valuable is companies offering aggregation of social data. I am curious what other trends you are seeing out there? Please join me in looking deeper into this topic, as well as those we discuss in the future: Payment Facilitator Discussion Group on LinkedIn
You can view a video on the topic as well: