“Stop fraud before it happens and know that every transaction is as real as the happy customer behind it.”
Authentication and payment monitoring solutions company Outseer announced in April 2022 the appointment of John Filby as CEO, following the retirement of Reed Taussig, the former CEO of Outseer. In his new role, Filby will lead Outseer’s mission to free the world from transactional fraud and build on the company’s legacy of innovation. Today we speak with John, to find out what this new role means for him and learn how we can fight financial crime in a dynamic threat landscape.
John, for a brief introduction, tell us a bit about yourself. What experiences led you to be CEO of Outseer and how do they relate to the company’s goals?
I’m thrilled to have joined Outseer, now part of my 20+ years of fintech experience, focusing on digital payments, risk management and data analytics. This has included serving as President, Risk & Compliance at Fiserv and as a member of Abrigo’s Board of Directors – Fiserv and Abrigo have provided market-leading solutions that help prevent financial crime. These are all very relevant experiences given Outseer’s longstanding anti-fraud mission.
Now, focusing on Outseer’s goal of helping card-issuing banks, payment processors and merchants solve their payment fraud problems. Could you highlight some of these key challenges plaguing financial services companies? What keeps their executive awake at night?
We are witnessing a rapid expansion of the surface of fraudulent attacks in the global market, in part due to the steady increase in digital transactions which of course have been accelerated by the pandemic (suuppoirce). It is not just the overall volume of digital transactions and interactions that determines the attack surface, but also the dispersion of that volume across so many new payment types involving so many different players, from P2P to Buy Now , Pay Later, Faster Payments and Crypto Payments. Each creates new points of attack for fraudsters. The story goes that when fraud gets stuck in the ecosystem, it tends to migrate to the weaker links in the chain – so clearly the more links in the chain, the more room for fraud migration and new fraud schemes.
What can be done to secure the mobile and online channels of financial institutions and merchants? How does Outseer’s solution and vision align with this?
The good news is that fraud prevention techniques and solutions are evolving and advancing. In addition to keeping abreast of the latest developments in the threat landscape, when it comes to fighting fraud, there’s no substitute for using an intelligent platform that monitors and detects fraud in real time. , using cutting-edge science powered by the right set of data sources and risk signals. for the right use case at the right time. That’s what we offer at Outseer. A platform that combines technology, science and data to interrogate high volume event streams and make highly accurate risk decisions in less than seconds. This results in industry-leading fraud detection rates with industry-low false positive rates. This is how we deliver on our brand promise to stop fraud, not customers. As the digital transaction landscape evolves and new payment types and use cases emerge, we may adjust our platform and ingest new data signals to keep pace.
You’ve been running Outseer for just over a month. What has your experience been so far and what do you plan to accomplish in the next 12 months?
It has been a very warm welcome for me here at Outseer and I see a real passion for our mission within our global team. We are privileged to be a trusted partner to hundreds of customers around the world, including some of the world’s most recognized brands. I look forward to getting out and meeting more of our clients, especially now that we are seeing a cautious return to in-person meetings. We have a proud heritage of innovation, and we will continue to engage with the market and listen to our customers to ensure we meet their fraud needs today and tomorrow, putting the focus on a frictionless customer experience.
About John Filby
Throughout his 25-year career in the fintech industry, John has transformed companies of all sizes for growth, ranging from startups to middle-market companies to global Fortune 500 companies. career, he served as President of the Risk and Compliance Division at Fiserv and brought an award-winning suite of transactional risk products to the global marketplace.
Outseer, an RSA company, enables the digital economy to grow by authenticating billions of transactions each year. Our payment and account monitoring solutions increase revenue and reduce customer friction for card-issuing banks, payment processors and merchants around the world. Leveraging 20 billion annual transactions from 6,000 global institutions contributing to the Outseer global data network, our identity-based science delivers the highest fraud detection rates and lowest customer intervention in the industry. See what others can’t see on outseer.com.