If you've been tasked with building a team to handle risk management for online payments (RMP), this practical introduction provides a framework for choosing the technologies and personnel you need. Author and financial services executive Ohad Samet explains the components of payments risk management, and presents a coherent strategy and operational approach.
You'll learn the answers to questions you're likely to encounter in the first 18 months of operation, with information that Samet has shaped and tested over several years in the industry. This book is ideal whether you intend to be a one-person task force or work with dozens of agents and analysts.
Use both a portfolio and behavioral approach to analyzing and optimizing losses
Learn about your customers to determine if they can and will meet obligations
Build an RMP team for payment risk operations, analytics, and decision automation
Use linking mechanisms and velocity models to detect unusual activity among your customers
Design system and data architecture to facilitate your activity analysis
Implement the decision and loss-reduction mechanisms you need to act on your findings
Ohad Samet is an entrepreneur and executive in the financial services industry, having worked as a manager, founder, and executive in various companies. Ohad started his career as manager of the fraud analysis group for FraudSciences, a fraud prevention startup for high risk payments. After FraudSciences was acquired by PayPal in 2008, he worked in various roles for the company, among them the manager of the new ventures risk team, in charge of risk management for PayPal's Digital Goods, Mobile and Adaptive Payments products. Ohad left PayPal in 2010 to work on two projects; one of them, Signifyd, is now a leading fraud prevention vendor working with Fortune 500 companies to reduce payments fraud. The other, Analyzd, was acquired by Klarna, an up and coming European payments company, in 2011. At Klarna, Ohad served as Chief Risk Officer, in charge of granting real-time short-term credit on Klarna's $2.5B of annual payments volume. In 2013 Ohad left Klarna to focus on new projects in the financial services industry.
Comments about oreilly Introduction to Online Payments Risk Management:
Ohad has written a this book from the perspective of someone actually on the front lines of payment card acceptance for online businesses. You can see that it comes from actual experiences.
This is a rather complete read for anyone that is interested in payments but it is a must read for anyone that needs to understand the true risks of accepting payments online.
It is clear Ohad is a veteran with sage advice that is practical and impactful. I particularly like that it is written without the need to understand the buzzwords that tend to cloud how this industry really works.
I eagerly look forward to his next work.
Bottom Line Yes, I would recommend this to a friend