ChainIT and RS Software Form Alliance to Bring Risk-Based Authentication to Account-to-Account Payments
ChainIT and RS Software have formed an alliance to implement risk-based authentication for account-to-account payments. The partnership aims to combat rising identity fraud and meet new regulatory requirements for secure financial transactions.
Why it matters
As instant payment systems like FedNow expand, the industry faces an urgent need for robust fraud-monitoring frameworks to protect against sophisticated scams.
Scottsdale, Arizona, United States – Business Wire India
ChainIT and RS Software today announced a product alliance to bring risk-based authentication to account-to-account (A2A) payments. While card transactions have benefited from the 3-D Secure framework for over two decades, instant and irrevocable A2A payments lack a comparable industry-wide fraud-monitoring framework. The alliance addresses that gap through continuous identity and risk assessment.
Identity fraud and scams are among the costliest threats facing financial institutions. Javelin Strategy & Research’s 2026 Identity Fraud Study estimates that traditional identity fraud drove $27.3 billion in losses in 2025. As adoption of FedNow® and RTP® expands for instant, irrevocable payments, fraud exposure is increasing. The Federal Trade Commission reported more than $12.5 billion in consumer fraud losses in 2024, up 25% year over year.
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