Sibos 2026: Bottomline's Jessica Cheney on Fraud and Faster Payments

Quick Summary

Ask many in the industry about the risks of real-time transactions and the answer is often that faster payments lead to faster fraud. Jessica Cheney of Bottomline explains at Sibos 2026 how this perception can be managed through transparency, AI, and better customer education.

Is faster fraud an inevitable consequence of faster payments?

Jessica Cheney notes that there is a widespread perception that speed increases risk, but she argues this is not necessarily the case. As long as financial institutions follow best fraud practices, they can maintain security in a real-time environment. This involves:

• Detecting fraud upfront as payments are being authorised.
• Monitoring the payment through its entire lifecycle.
• Ensuring good hygiene and consistent customer education.

How does customer education impact fraud prevention?

Fraud prevention is a role that everyone must play, including the end user. Jessica Cheney suggests that customers are generally comfortable with interdiction and friction during the payment process, provided the bank can explain why it is happening. Problems arise when banks introduce friction that customers do not understand. Transparency is the essential element here, as it ensures the customer knows the bank is acting in their interest to secure the transaction.

What role does AI and data sharing play in Bottomline's approach?

Trust is built on transparency regarding how AI is used as a tool for fraud prevention. Jessica Cheney highlights that being clear about what AI is expected to accomplish, and what it is not, creates the foundation for trust between the institution and the client. Additionally, an emerging trend is the use of consortium-orientated data. By sharing data that can be accessed in real time, banks can achieve much earlier detection of fraudulent activity, a trend that Bottomline is actively participating in.

FF NEWS TAKE:

The shift toward real-time payments requires a parallel shift in how financial institutions handle security. By moving away from reactive measures and toward proactive, transparent AI and collaborative data sharing, Bottomline demonstrates that speed does not have to come at the cost of safety. The emphasis on customer education is particularly vital, as it transforms the user from a potential weak link into an informed participant in the security chain.