The Top Five Takeaways from Money 20/20

After more than a year and a half of hearing phrases like ‘you’re on mute’, ‘there seems to be a network glitch’ and the like, it was a relief to be able to meet, greet, and discuss fraud prevention face-to-face

Now that the pandemic blues are behind us – hopefully for good – it was heartening to see the community coming back together in-person at Money 20/20 USA, one of fintech’s biggest shows. 

In no time did we forget that we were meeting after a long pause, as it was back to business like nothing had ever happened. We were putting our heads together once again and discussing new – and existing – fraud trends and how to fight them collectively. 

Here’s a snapshot of the top takeaways from this year’s Money 20/20:

1. With digital becoming the norm and pandemic pushing fraud levels to a record high, businesses are mindful of the need to protect their customers from potential abuse and fraud. They are looking for ways to prepare better for imminent fraud attacks and therefore, fraud and account security are the top agenda for most businesses.
2. Digital businesses realize that they are up against an adversary that is well organized and highly motivated. Attackers can go to any length to exploit loopholes; they regularly tap into the global ecosystem of fraud to access the latest tools and techniques as well as to share knowledge
3. Having experienced a deluge of fraud during the pandemic, businesses are coming to the fore with a renewed passion and are committing themselves to secure their websites and apps in a fully user-centric way.
4. There is a great interest in new technologies and solutions that can better equip businesses to fight fraud. We took this opportunity to announce our industry-first credential stuffing warranty for account security, which was very well received. We unveiled our Fraud Deterrence Platform, backed by an industry-first credential stuffing warranty that makes us the only provider in the space to offer a warranty on the fast-growing issue of credential stuffing which is plaguing all digital businesses across industries.
5. Diversity and inclusion are in focus more than ever before as businesses realize that more women in leadership positions can help bring in more innovation and success. Both our CEO Kevin and I had the privilege of discussing this important topic at RiseUp and encouraging women participants to unlock the next steps in their careers.

I would like to thank the organizers, fellow panelists, and the participants at Money 20/20 for this opportunity to interact. I can’t stress enough how grateful we are for the world returning to normal again. Networking in-person again is fun! To make up for the loss of in-person interaction during the lockdowns and even after that, we hosted a TopGolf event with Outseer, one of our peers in the space. It was so gratifying to be able to see people relaxing over a drink. 

I would also like to take this opportunity to invite you for the second edition of our ‘Bankrupting Fraud Virtual Summit’ scheduled for 9-10th November 2021 which will feature the who’s who of the industry. You can book your seat by registering here.

*** This is a Security Bloggers Network syndicated blog from Arkose Labs authored by Richard Dufty. Read the original post at: https://www.arkoselabs.com/blog/the-top-five-takeaways-from-money-20-20/