UK-based financial company NewDay has implemented RSA's Adaptive Authentication for eCommerce solution to secure digital payments and prevent fraud.
According to HelpNetSecurity, the RSA Adaptive Authentication for eCommerce is a 3DS solution that enables card issuers and payments processors to prevent more than 95% of fraud in card-not-present (CNP) ecommerce transactions, as CNP frauds are expected to reach USD 6.4 billion by 2021 in the US.
Therefore, NewDay has selected RSA’s fraud detection capabilities to help provide a consistent, convenient, and secure online shopping experience for cardholders. Moreover, RSA implemented and delivered a flexible solution that served NewDay’s specific regulatory considerations and it's also in line with the PSD2 SCA regulation requirements.
Moreover, RSA Adaptive Authentication for eCommerce leverages advanced machine learning to analyse risk indicators and authenticate genuine cardholders. Consequently, NewDay has achieved a close to 100% fraud detection rate and transaction approval rate, along with single-digit customer intervention rates, HelpNetSecurity reported.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now