Many Millennials are in a fundamentally different financial situation to previous generations, and Generation Z even more so. Buy Now, Pay Later (BNPL), payment service providers (PSPs) and FinTechs are now expected to provide credit for a generation that has far fewer of the traditional markers of credit worthiness such as property or stable incomes.

This can make extending credit a difficult proposition, with high-volume PSPs and FinTechs tasked with the twin responsibilities of avoiding fraud while ensuring their service lives up to Gen Z and Millennial expectations for seamless customer experience.

But this situation isn’t made any easier by the fact that fraudsters are becoming increasingly innovative, exploring the use of synthetic identities, chargebacks, and refund fraud to defraud both consumers and payment service providers.

At the same time, retailers are preparing for Black Friday and a holiday season where limited consumer capital is likely to go to the vendors that are best able to provide a frictionless experience.

As a result, BNPL providers are looking to AI and machine learning to help automate the customer risk assessment process and spot signs of fraud earlier.

In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.