Risk management for risky times
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The document discusses risk management in the payments market. It notes that while consumer risk may seem solved, seller/merchant risk is not and presents ongoing challenges. Effective risk management requires having a single source of truth for data, focusing on understanding why certain risks exist, and continually iterating processes. Domain expertise, data, and iterations are needed to build quality decision models for assessing risk.
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Risk management for risky times
- 1. ohad.samet@klarna.com http://fraudbackstage.blogspot.com @ohadsamet Risk Management for Risky Times
- 2. About
- 4. The Market Who’s Out There? The Payments Market Beyond eCommerce Disruption, the Next Generation Risk Management is Not What it Used to Be Consumer Risk is a Solved Problem. Or is it? …But Seller Risk Definitely Isn’t (Some Popular Risk Equations) Data Overload The Single Source of Truth Iterate, Iterate, Iterate The Challenge Solutions That Work
- 6. Why don’t you become a payments provider?
- 7. The Payments Market Beyond eCommerce
- 10. The Method: Short term Credit The Wallet: Payroll
- 11. Risk Managementis not What It Used To Be Core Part of the Product Technology Challenge The Factory Approach *
- 12. Consumer Risk is a Solved Problem I can pay! I’m that Guy! ?
- 13. Or It IS? Fake Identities Stolen Identities Account Take Over Hacked Machines Returning Fraudsters Crime Rings Device Fingerprinting Blacklists Limits
- 14. The Initial Encounter TRUST ME
- 15. Merchant Risk isn’t solved
- 16. Risk “equations” P[loss]*[Exposure]= Risk Data + Domain Expert + Iterations = Quality Decision
- 17. Data Overload
- 18. .edu .edu .edu Context is Everything .edu .edu CitiCITIBANK SOUTH DAKOTA Citybank Know your Customers BofABOA America Bank BANK OF AMERICA Don’t use blacklists
- 19. The Single Source of Truth * The Basic capability: Txn Review Focus on the Why, Focus on People Generalize Analytic Storytelling