David White, Global Head of Product and Data at LSEG Risk Intelligence 
David White, Global Head of Product and Data at LSEG Risk Intelligence, discussed emerging threats in the realm of identity fraud and theft. He identified several key trends shaping the risk landscape, including the sharp rise in synthetic identity fraud, the increasing use of AI and deepfakes by criminal networks, the alarming growth of child identity theft, and fraud linked to real-time digital payments. These developments, he explained, are being fuelled by the growing accessibility of advanced technologies, allowing criminals to conduct large-scale, sophisticated operations with relative ease.
White noted a shift in identity fraud from isolated incidents affecting individuals to a more systemic, industrialised threat. The tools available to fraudsters such as bot farms and deepfakes have significantly lowered the cost of perpetrating fraud, allowing criminal gangs to scale their operations and target vast numbers of victims continuously. This has imposed significant pressure on industry players, who must invest in equally sophisticated countermeasures to detect, prevent, and respond to attacks.
He elaborated on the complexities of synthetic identity fraud, where real personal data is blended with fabricated elements to create convincing but false identities. These are particularly difficult to detect due to their realistic appearance and the high level of technical sophistication involved.
White also highlighted the rise of child identity theft as a particularly distressing trend. In conjunction with the release of a white paper and a documentary titled “To 1 in 50”, LSEG Risk Intelligence is raising awareness of the issue, revealing that one in fifty children in the US are victims of identity theft, a statistic likely to be an underestimate. He shared the personal story of a colleague whose identity was stolen at the age of six and who only resolved the issue over two decades later. This underscores both the long-term impact and the underreported nature of such crimes, often perpetrated by family members, making them more complex to address.
White urged greater industry collaboration, parental vigilance in the digital sphere, and the implementation of stronger protections for children. He concluded by emphasising the need for widespread awareness and industry responsibility, stating, “It takes an industry to keep children safe.”
Ugne Buraciene, Group CEO of payabl. 
Ugne Buraciene, Group CEO of payabl., returned to the podcast to discuss her role as a mentor for the Rise Up programme at Money20/20 and to share insights on key developments in the payments and fintech sectors.
As a long-standing advocate for diversity, Buraciene emphasised the importance of initiatives like Rise Up, which supports women and individuals from underrepresented backgrounds in fintech. She noted that while diversity is deeply embedded within payabl.’s culture, broader change across the industry still requires active support and visibility. Drawing on her own experiences as a female leader in fintech, she expressed a desire to help others navigate and avoid some of the challenges she encountered.
Turning to innovation in payments, she highlighted the increasing focus on faster and cross-border payments, alongside growing interest in AI. She stressed the importance of moving beyond gimmicks and towards meaningful applications of AI that improve operational efficiency and free up time for employees.
In terms of fraud prevention, Buraciene observed that fraudsters are becoming more sophisticated, necessitating advanced tools and a blend of AI, machine learning, and human insight. She shared that payabl. has partnered with American firm Sift to enhance its fraud prevention systems using AI-driven solutions. She emphasised that while AI significantly enhances the speed and scope of fraud detection, human input remains vital to ensure systems are correctly trained and guided.
Finally, regarding regulatory developments such as PSD3, Buraciene confirmed payabl.’s commitment to full compliance and its proactive approach to evolving legislation. She noted that the company is closely monitoring updates to PSD3 and is particularly focused on the implications of upcoming changes to instant payment regulations in Europe.
Buraciene concluded the conversation with optimism about the future of inclusive leadership and innovation in fintech, reinforcing her support for initiatives like Rise Up that empower the next generation of industry leaders.
Pavan Bachwal, Head of Ericsson Financial Services 
Pavan Bachwal, Head of Ericsson Financial Services, provided an overview of the company’s impressive impact on mobile financial technology, particularly in supporting financial inclusion and tackling fraud.
Ericsson’s Mobile Financial Services platform has been operating for nearly a decade and supports over 115 million active users within a 30–90 day period. These users generate around 3.6 billion financial transactions, valued at over $62 billion. Bachwal proudly noted that throughout its ten-year history, no security or fraud incidents have ever been traced back to Ericsson’s core technology highlighting its strength in scalability and security.
A major focus of the conversation was financial inclusion. Bachwal explained that telcos are uniquely positioned to reach underbanked and unbanked populations, especially in emerging markets. He highlighted how Ericsson’s technology has enabled faster adoption of cashless payments, empowering merchants and individuals (particularly women) to gain better access to financial tools and services.
On the topic of fraud prevention, Bachwal discussed Ericsson’s recent collaboration with INFORM, integrating its RiskShield platform to improve real-time fraud detection, AML compliance, and credit scoring. He underscored the importance of identifying behavioural patterns and sanctions risks dynamically, enabling timely prevention of fraudulent transactions.
Ericsson also leverages telecom network data, which provides a rich source of historical user behaviour. This data feeds into scoring engines to identify unusual transactions and flag potential threats demonstrating how telecom infrastructure can support financial integrity.
As Ericsson expands its financial services footprint into Europe, Bachwal explained that the company is closely monitoring regulatory frameworks such as GDPR, PSD, CPA, and notably the DORA Act (Digital Operational Resilience Act). He emphasised Ericsson’s commitment to helping telcos and fintechs remain compliant while ensuring their services remain resilient and available in real time.
The conversation concluded with Bachwal reinforcing Ericsson’s dual focus on security and inclusion, showcasing the company’s decade-long journey of trusted innovation in mobile financial technology.
Denise Johansen, Co-founder and Co-CEO of Enfuce 
Denise Johansen, Co-founder and Co-CEO of Enfuce, discussed the company’s approach to tackling payment fraud, navigating regulatory developments, and expanding through a new partnership in the mobility space.
Fraud prevention, Johansen explained, is not solved by technology alone. Enfuce takes a three-pillar approach: tech, people, and processes. While robust fraud detection tools are vital, she emphasised the need for fraud-aware teams and strong oversight from risk and compliance. Constant refinement of internal practices ensures Enfuce remains resilient in the face of evolving fraud threats.
Striking the right balance between security and user experience is also key. Johansen noted that friction isn’t always bad, as long as it’s meaningful. Enfuce focuses on transparency and education, helping cardholders understand why additional steps are necessary. When users see themselves as part of a wider effort to stop criminal activity, they’re more willing to accept these measures.
On the regulatory front, Johansen is closely watching three key developments. The AI Act, which could significantly affect how fraud prevention systems are designed and deployed, PSD3, the next iteration of Europe’s Payment Services Directive and DORA (Digital Operational Resilience Act), now embedded into day-to-day operations.
Of these, she sees the AI Act as potentially the most disruptive. She raised concerns that if not carefully implemented, it could hinder firms’ ability to react quickly to new fraud patterns. By contrast, PSD3 is seen as evolutionary rather than revolutionary.
Looking to the future, Johansen was cautious about expecting rapid change. In her view, the payments industry transforms slowly over decades rather than years. However, she did point to a possible trend of European independence from US payment schemes, with greater interest in developing local infrastructure.
The interview concluded with the announcement of a new partnership between Enfuce and Dutch mobility platform Shuttel. Shuttel, which helps employers manage employee travel payments, is moving from a closed-loop to an open-loop system. Johansen described this shift as both a strategic business decision and an important step forward in fraud prevention, unlocking wider global opportunities for Shuttel’s services.
Overall, Johansen reinforced Enfuce’s commitment to secure, scalable innovation, backed by clear communication and a proactive stance on regulation.
Darek Paleczny, Chief Risk and Compliance Officer at Worldline 
Darek Paleczny, Chief Risk and Compliance Officer at Worldline, discussed the evolving role of digital-first infrastructure in fraud prevention, the challenges of regulatory divergence, and the need for greater collaboration across the payments industry.
Paleczny began by outlining what it means to have a truly digital-first risk and compliance culture. It’s not just about embedding processes, it’s about agility, alignment, and adaptability. As fraudsters evolve rapidly and without constraint, organisations need systems and teams that can respond quickly and operate cohesively. He cautioned against relying on short-term fixes, advocating instead for a holistic ecosystem approach that links technology, processes, and people across the business.
When it comes to regulation, Paleczny noted increasing complexity in the post-Brexit landscape, where the UK and EU remain broadly aligned but not identical. Even within the EU, different interpretations across member states can create inconsistencies. He observed that regulation is struggling to keep pace with innovation especially in areas still governed by outdated frameworks, such as the UK’s Consumer Credit Act.
On the friction-versus-convenience debate in fraud prevention, Paleczny challenged the idea that security always compromises the customer experience. In fact, modern technology enables both, by introducing smart, automated controls that reduce onboarding time and eliminate manual steps. Rather than a trade-off, he sees well-implemented compliance as a win-win for both businesses and customers.
Addressing the rise of deepfakes and synthetic identity fraud, Paleczny acknowledged that the industry will likely always be one step behind fraudsters. But speed of reaction matters. The solution, he argued, lies in agility and collaboration. While fraudsters operate across borders and work together, financial institutions tend to act in silos. Paleczny called for greater data and typology sharing, helping firms shift from reactive to proactive fraud defence.
He concluded by urging the industry to learn from the fraudsters’ playbook, not in tactics, but in collaboration and adaptability to create a stronger, more resilient ecosystem.
Overall, Paleczny’s message was clear: the future of effective fraud prevention lies not only in tech, but in connected systems, collaborative thinking, and responsive regulation.
Eline Blomme, Chief Strategy and Product Officer at Acquired.com 
Eline Blomme, Chief Strategy and Product Officer at Acquired.com, joined us to discuss how competitor collaboration is shaping the future of fintech. Speaking on her session titled “Rivals Reimagined”, Blomme highlighted that partnerships have always played a key role in the industry, but they’re now more crucial than ever. Particularly in areas like account-to-account payments and variable recurring payments (VRPs), collective industry effort is required to overcome adoption challenges. She noted that working alongside both banks and competitors has become essential for realising scalable solutions that benefit the wider ecosystem.
Blomme explained that while single, immediate open banking payments in the UK have seen reasonable success thanks to improved UX and unified standards, recurring payments remain problematic. The slow uptake of VRPs is largely due to the optional nature of their implementation by banks, with the exception of limited “sweeping” use cases. Acquired.com is addressing this gap through two parallel initiatives: one is a scheme-led track involving 31 stakeholders, including third-party providers and banks; the other is in partnership with Visa, which aims to accelerate VRP adoption by working directly with banks. Acquired’s goal is to remain payment-method agnostic, choosing the best option for each client based on pricing, risk appetite, and customer journey requirements.
On the topic of balancing innovation with compliance, Blomme stressed that the two must go hand in hand. At Acquired.com, compliance is integrated throughout the product lifecycle from ideation to reiteration. Regulation is viewed as a foundation for new product development, not a hindrance. The team closely collaborates with compliance functions from the earliest stages and continuously updates its risk register to ensure merchant safety and regulatory alignment.
Fraud prevention is another critical consideration, particularly in newer payments models. While traditional transaction risk monitoring applies to established account-to-account flows, commercial VRPs still require a more defined fraud prevention strategy. The industry is experimenting with passing fraud parameters back to banks for better decision-making. However, Blomme pointed out that open banking’s built-in security specifically, Strong Customer Authentication (SCA) via bank redirection already gives it an edge over cards and direct debits. Still, identity fraud remains her greatest concern, given its complexity and the long-term impact it has on consumers.
AI is also playing a central role in Acquired.com’s product thinking. Blomme outlined three main areas of focus. First is hyper-personalisation, where AI helps determine the optimal payment method for a customer based on behavioural and transactional data. This reduces friction and improves collection rates. Second is backend payment optimisation routing transactions to the most effective acquiring partners. Lastly, the company is exploring how large language models and AI tools can enhance its broader product offering. These technologies, she said, are integral to enabling smarter, more efficient payment solutions.
In closing, Blomme emphasised that Acquired.com is committed to driving forward a more intelligent, secure, and collaborative payments environment. With a blend of strategic partnerships, AI innovation, and compliance-by-design, the company is positioning itself at the forefront of the evolving fintech landscape.
Daniel Kornitzer, Head of Global Partnerships at Ebanx 
Daniel Kornitzer, Head of Global Partnerships at Ebanx, joined the podcast for a wide-ranging conversation on the future of fintech and the opportunities emerging markets present. Although Ebanx was established in 2012, Kornitzer only joined the company in 2024. He described Ebanx as an organisation focused on addressing complexity by helping global merchants succeed in emerging markets. While the company has already achieved considerable growth, he emphasised that there remains vast potential for further expansion, making it a particularly exciting time to be involved.
When asked about the most significant innovations in the payments space, Kornitzer identified three key areas. The first was artificial intelligence, which he said is transforming everything from user experience to compliance and risk management. AI enables systems to detect fraud and anomalies that are invisible to the human eye and automates many formerly manual processes. Looking ahead, he spoke about the emergence of “agentic commerce” where intelligent agents carry out purchases on behalf of consumers. This machine-to-machine interaction could render traditional interfaces obsolete and usher in a new era where concepts like ‘know your customer’ are replaced by ‘know your agent’.
His second focus was stablecoins, especially in the context of treasury optimisation. Kornitzer highlighted the limitations of traditional banking systems such as delays during weekends and public holidays and noted that stablecoins offer a step change in improving the speed and efficiency of fund flows. This is particularly beneficial for global businesses aiming to enhance cash flow and streamline operations. His third point centred on the continued international expansion of banks and fintechs, which is enabling merchants to operate on a truly global scale while maintaining the performance and efficiencies necessary for growth.
The conversation then turned to the Beyond Borders 2025 report produced by Ebanx. Kornitzer shared that emerging markets are expected to see e-commerce growth at a compound annual rate of 19% between 2023 and 2027 double the global average of 9.5%. This rapid growth is driven by increasing digital inclusion in regions such as Latin America, Africa, India, and Southeast Asia. He also highlighted the rise of real-time, peer-to-peer payment systems like Brazil’s Pix, India’s UPI, and various mobile money solutions in Africa. These methods have not only been widely adopted but have quickly become dominant payment rails in their respective countries. They are fast, cost-effective, and allow emerging markets to leapfrog older systems.
On the topic of fraud, Kornitzer challenged the idea that alternative payment methods are more prone to fraudulent activity than traditional ones. He cited Pix in Brazil as a standout example, where the Central Bank has implemented a system called MED to allow reversals only in cases of duplicate payments or proven fraud—not for disputes over service. As a result, the incidence of chargebacks is significantly lower than in conventional card processing. Some alternative methods, he argued, are actually more secure.
Ebanx, he said, has developed a sophisticated anti-fraud framework based on four pillars: deep understanding of the local market (country-level intelligence), merchant-specific data (tailored by vertical), access to real-time local data, and compliance by design. This layered approach ensures that the fraud detection system is both robust and adaptable to the nuances of different markets and merchant types.
Finally, Kornitzer spoke about the importance of collaboration in tackling fraud and adapting to regulatory and technological change. Whether it’s with merchants, local partners, or even direct competitors, he said collaboration is essential. He recalled instances from his time at Paysafe where competitors had to work together during industry-wide challenges such as denial-of-service attacks. According to Kornitzer, weeding out bad actors and maintaining trust in the payments ecosystem takes collective effort, and the benefits of such cooperation far outweigh competitive considerations.
In closing, Kornitzer offered a compelling vision of the future: one shaped by technological innovation, local expertise, and a collaborative spirit. As fintech continues to evolve, particularly in high-growth emerging markets, he believes the industry must remain agile, inclusive, and united in tackling both the opportunities and the risks ahead.
