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Experiencing Great Success with 3D Secure Monitoring

FinCrime Insights Podcast #01

Rina-Maria Ingemannsen / March 19, 2024
Watch all episodes of the FinCrime Insights Podcast here

The first official episode of FinCrime Insights discusses what 3D Secure monitoring is and how the solution assists customers in reducing fraud.

Podcast host John Erik Setsaas is joined in this episode by Line Borgsø, Head of Fraud Prevention Product Management at Tietoevry Banking.

Borgsø has 16 years of experience in fraud prevention: From the days when ATM skimming was a problem to today's complex digital environment.

– Fraud prevention is like a roller coaster. Just when you think you've learned everything, new challenges constantly emerge. It's the constant change that makes the job both exciting and rewarding, she says.

The main part of the episode focuses on 3D Secure (3DS) monitoring: What it is and how Tietoevry Banking's solution helps customers reduce fraud.

– 3DS monitoring is like a puzzle; we constantly need more pieces to see the full picture. Previously, authorization monitoring was enough to detect fraud, but now we see that we need more information to differentiate between genuine transactions and fraud, says Borgsø.

Exceptionally Good Results

The development of EMV technology supporting 3DS allows for more data sharing between participants in a payment process.

– It's been a treasure hunt for new puzzle pieces to evaluate whether a transaction is real or fraud, says Borgsø.

Setsaas and Borgsø also look at the results of using 3DS monitoring in the two years the solution has been in production. Without giving away too much: They have been beyond all expectations.

– We have even uncovered fraud where people, with great likelihood, would not have reported it themselves because they are ashamed of being defrauded. But it's important because we learn a lot from all the cases we uncover, Borgsø explains.

Finally, the host and his guest peer into the crystal ball, discussing trends and a new solution that monitors the enrollment of cards in digital wallets.

– We are continuously hunting for new puzzle pieces to deliver solutions that stop the fraudsters, says Borgsø.

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John Erik Setsaas
Director of Innovation, Financial Crime Prevention

With over 25 years’ experience in digital identity, John Erik Setsaas is a pioneer in this space. He has deep knowledge in the areas of digital onboarding, authentication, electronic signatures and seals, time stamping and digital identity wallet.

He is a prolific speaker at fintech industry events around the world.

Line Snefrid Borgsø
Product Manager, Financial Crime Prevention


Rina-Maria Ingemannsen

Marketing Project Manager

John Erik Setsaas

Director of Innovation, Financial Crime Prevention

Line Snefrid Borgsø

Product Manager, Financial Crime Prevention

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