Enhancing Fraud Detection: Thread’s OneView Solution Explained

Let's check in on the latest headlines from Europe and the Middle East with Polly Jean Harrison, features editor of the FinTech Times.

Hi, Polly, Happy Friday.

So let's start out with global payments processor Thread.

I understand that Thread has launched OneView, a fraud prevention solution developed in partnership with FeatureSpace.

So tell us a little bit more about this new launch and also how it actually enhances fraud detection.

Hello Remy, happy Friday, and yes, so this platform uh is all about a fraud solution, right, and it's designed to monitor both card and non-card transactions through a single network agnostic interface and a rules engine in order to be able to enhance that fraud detection.

So one view was developed to really consolidate those card and non-card payment datas, you know, such as account to account and person to person payments.

Into one unified interface, and according to the companies, this provides us with a 360 view of customer behavior and enables more effective fraud detection, all while reducing that operational workload for fraud teams.

So this solution is really intended to eliminate the need for fraud for fraud analysts to log into and manage separate systems for card and non-card payments by providing that single. with the consistent workflows, fraud teams can really streamline their investigation processes, reduce the time spent switching between different systems, and cut down resolution times, making them more efficient overall.

So I think this is a really interesting thing, because, you know, where fraud is such a hot topic at the moment, and this unified view really allowed fraud teams to get in there, spot that unusual behavior pattern that might not be flagged.

When transaction types are monitored in these different isolated systems, so they can really get in there, spot the pattern and help detect fraud earlier.

So I think this is a really great thing for businesses and I think it's a really interesting er to see even more fraud detection programs come to light, and I think this is gonna be a really interesting solution in in the ongoing fight against fraud.

So great to see it happen and I'll be excited to see how it, how it goes.

Yeah, and Polly, while I have you here, according to a new study by Juniper Research, apparently there are gaps in both transaction monitoring as well as beneficial ownership transparency.

So tell us a little bit more about this research and how this is impacting the vendor landscape.

Absolutely.

So yeah, this new research from Juniper Research has really identified these gaps in transaction monitoring, and it has identified that total spending on third-party anti-money laundering, or AML systems is really projected to grow by 121% to surpass $75 billion globally, up by 2030, which is up from $33.9 billion in 2025.

And I think this is a really interesting report because it also really highlights that significant role.

The banks are going to be playing in this market growth forecasting that they're going to be accounting for 64% of all AML spending by 2030, which is spurred on, you know, by their sustained exposure to complex and involving regulatory oversight.

So I think this is a really interesting space to be in, right?

And according to the research as well, these, you know, increasingly complex regulatory regimes that we're seeing at the moment are really pushing firms to adopt these sort of AI.

Driven screening and analytics and just use the technology that's available to them to be able to strengthen their detection capabilities and address the high rate of false positives that they're getting on their compliance teams.

So I think it's really interesting one to see sort of AML systems and, and definitely that third parties coming in and all these different vendors that are here to help companies and help businesses to really sort of expand the scope of their offerings, but also keep themselves safe in when it comes to a regulatory.

Concerns.

So I think the growing focus on using these processes as well as using AI in order to meet those regulatory demands to help sort of bring the transparency to these decision making processes is a really interesting thing and something that I think we're all going to be keeping an eye on, uh, in sort of as we move, you know, further into this landscape and as it gets even more popular.

So this is a really interesting piece of research and one that I think will definitely have lasting effects as we move into the next level of fintech.

Well, Polly, we will have to leave it there, but thank you so much for joining us on this Friday morning.

We'll see you bright and early next week.

Have a great weekend.

See you next time, Rey, bye.