Cloud Microservices Transform Risk Management

Financial institutions (FIs) face a range of challenges in today’s payments ecosystem. While developing new ways of removing frictions from sending and receiving funds for clients, FIs must also maintain compliance, deliver seamless feature performance for consumers on every device and keep track of any potential vulnerabilities to data corruption or theft. These challenges have led many FIs to integrate cloud-based microservices into their operations, as well as risk management strategies.

The New Digital Shift: Creating A Cloud-Based Risk Management Strategy, a PYMNTS and Featurespace collaboration, assesses emerging fraud trends in the financial services space. The Playbook offers FIs a quick-start guide to analyzing and managing cyber risk and explores the tools and technologies that can help FIs bolster their anti-money laundering (AML) and fraud prevention strategies.

A few key findings from this report include:

• Microservices can accelerate digital transformations.

For FIs and growing businesses, risk management is not only about fighting fraud and money laundering. Risk also includes poor customer experiences due to service interruptions, inconsistent product…