LAS VEGAS, Oct. 3, 2013 (GLOBE NEWSWIRE) -- The U.S. accounts for a quarter of the world's credit card volume yet half of the world's card fraud (1). Account takeover fraud is a plague that holds back the evolution of online payments, and despite the considerable investments in security, it keeps getting worse. Fraud and account takeover are some of the greatest consumer concerns, and with the continuous trends of diminishing privacy and growing interconnectedness, these worries will only grow. David Birch, a director of Consult Hyperion, will lead a panel of innovators building new fraud solutions in the "Consumer-Centric Innovations in Fraud and Identity Management" session at Money2020 on Monday, Oct. 7, 2013, 5:05-5:55 p.m.
- Birch is an internationally-recognized thought leader in digital identity and digital money
- Rated one of Wired's top 15 sources of business information
- Ranked Europe's most influential commentator on emerging payments by Total Payments
- Consult Hyperion is a sponsor at Money2020, an event that explores the broad trends in payments and financial services innovation, such as the mobile Internet, open platforms and consumer empowerment
- Birch will lead the "Consumer-Centric Innovations in Fraud and Identity Management" session alongside an expert panel
- The panel is focused on finding business models that work for all stakeholders to solve serious fraud issues
Birch is available for a one-on-one interview at Money2020 as well as by phone to expand on the following:
- New solutions, including crowdsourcing, identity federation and strongly-authenticated identities that put consumers in control of their identities, their credentials and their reputations in an online world
- A decade from now, global card volume will be double what it is now, but global card fraud will have quadrupled, which is not sustainable
- The costs of keeping a lid on fraud are vast because the payment card was never designed for the Internet and mobile phones, and the Band-Aid prevention measures are bankrupting us
- Money2020 will be held Sunday, Oct. 6 to Thursday, Oct. 10 at The Aria Hotel & Casino, 3730 Las Vegas Blvd., Las Vegas, NV 89158
- The "Consumer-Centric Innovations in Fraud and Identity Management" session with Birch will take place on Monday, Oct. 7, 2013, 5:05-5:55 p.m. PT in Ironwood 8
About Consult Hyperion
Consult Hyperion is an independent information technology consultancy advising leading global organizations in financial services, telecommunications, media, technology, the public sector and transit. The company's consultants help bridge the gap between business and technology by providing practical, impartial advice at all stages in a project life cycle, from the conceptual phase through to completion. They help organizations evaluate, prototype and design new business concepts, develop new products and services, test and certify complex systems. Core technology competencies include electronic transactions ranging from retail payments to mobile wallets to contactless transit ticketing.
(1) Nilson Report. Issue 1023. "The U.S. accounted for 47.3% of global card fraud losses but generated only 23.5% of total volume." August 2013.
Source: Consult Hyperion