Tunic Pay

*Supporting Fraud Teams Amidst the New October 7th Regulations* Since the October 7th mandatory reimbursement regulations came into effect, fraud officers and call center teams are working harder than ever to investigate payments and combat scams. Their dedication keeps our financial systems secure, but the increased workload is a significant challenge. 🛡💼 At Tunic Pay, we’re proud to support these frontline heroes with a dashboard solution that’s ready to use right out of the box. No complex setups or long integration periods—just a powerful tool to help your team hit the ground running. 🛠️🚀 🔷 Instant Deployment: Start protecting your customers immediately with our user-friendly dashboard. No coding required for use, so your team can focus on preventing scams and not wrestling with new software . 🔷 Boost accuracy & efficiency: Streamline investigations with real-time analytics, allowing your team to identify and act on suspicious activities faster. This means a reduction in false positives, increase in speed, and lower handling time / repeat demand. 🔷 Prevent fraud: beyond detection, our intelligent warning screens can be rendered to your customer or instantly ingested by your decision systems. Everyone —from customers to fraud teams — deserves to make hard decisions with confidence. 💠Special Promotion: To support fraud teams during this critical time, we’re offering an exclusive consultation with our founders and a discounted first month to experience how Tunic Pay can make a difference.Let’s ease the burden on our hardworking fraud officers by equipping them with tools to help them make better, more calculated decisions on fraud. Partnering with Tunic Pay can successfully increase your decision advantage in the toughest of situations. 👉 Learn more and get started today: email [email protected] with your main fraud typology, and we will get back to you the same day to get you set up. Together, we can build a safer financial ecosystem.#TunicPay #FraudPrevention #MandatoryReimbursement #SupportFraudTeams #ReadyToUse #FintechInnovation #APPFraud #IntelligentWarnings

Banks' Scam Warnings Failing to Stop Customers from Taking Risks to Make Payments Nico Barawid, Co-founder of Tunic Pay, comments: “The PSR’s important new rules have placed more financial burden on banks than ever before to get a handle on the potentially £4 billion problem of APP fraud. The banks have channelled huge amounts of money and effort into creating friction to slow down payments and get customers thinking harder about who they’re sending their money to. Is the friction working? Not a lot. If two in three people aren’t paying attention to the warnings they click through, the system is broken and the fraudsters win. Slower payments don’t mean slower fraud.” https://lnkd.in/eeZQHEf7 Nicky Goulimis Carmen Dixon #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Yesterday, Tunic Pay’s cofounder, Nicky Goulimis , joined fintech leaders at Phoenix Court to share insights on how European fintechs can successfully break into the U.S. market. The discussion, alongside Dr. Frank Freund, CFA and Chris Hamblin, was both practical and forward-looking, addressing real tactics for testing demand pre-launch, building a local culture, and working with regulators and competitors in the U.S.. We’re grateful to our fellow panelists for their openness and expertise. Many European fintechs have struggled with and overpaid for Western expansion, and their example and insights are inspiring to us all. And it’s still only day one of globalising financial services. #Fintech #Scaling #GlobalExpansion #TunicPay

Tunic Pay ran a study of 2,000 individuals from Oct 18-21 on their sentiments related to trust in the UK financial sector. One finding from this study was that less than 1/3 of consumers found the current generic screens warning them of fraud to be effective in reducing scams. Thanks to FStech for quoting our co-founder Nico Barawid on the industry-wide challenge of generic friction in faster payments.

🧠 The Behavioural Science Behind Fraud: Understanding Why Traditional Warnings Fail 💡 Headline Insight: Fraud prevention isn't about making people more suspicious - it's about creating environments where safe decisions are easier to make. Financial institutions spend millions on fraud warnings, yet sophisticated people still fall for scams. The psychology behind this reveals fascinating insights that could transform how we prevent fraud: 🎭 The Authority Bias Trap - Fraudsters exploit our trust in authority figures - They mirror legitimate business language and processes - Professional credentials are weaponized against us - Solution Focus: Design warnings that acknowledge and counter these natural biases 💫 The Pressure Point Psychology - Time pressure disables our normal decision-making processes - Emotional triggers bypass rational thinking - Fear and urgency create cognitive tunnels - Innovation Needed: Dynamic warning systems that adapt to transaction context and pressure signals 🎯 The Consistency Principle - Once someone commits to a small action, larger ones follow - Fraudsters use this to escalate engagement gradually - Previous interactions build false trust - Protection Strategy: Create circuit-breakers in payment journeys that force perspective shifts 🔄 Rewiring Risk Assessment - Traditional risk warnings don't match how our brains process risk - Social proof is more powerful than statistical warnings - Real stories resonate more than abstract threats - Next Steps: Develop behaviour-based intervention points in payment journeys 🤔 For Discussion: How can we use behavioural science to create fraud prevention that works with human psychology rather than against it? #BehavioralEconomics #FraudPrevention #FinancialSecurity #Psychology

Hey lovely people 👋 Would you like to join me on the Tunic Pay team? Or do you know someone who’d love to tackle fraud with us? We’re nice. We’re straightforward. We’re ambitious. See job post below 👇 __________________________ 🌟 Shape the Future of Fintech as Tunic Pay’s First Product Hire 🌟 We're building Tunic Pay to take on the ambitious goal of eradicating financial scams. With major UK banks on board, we’re tackling one of the biggest problems in finance with cutting-edge Payment Intelligence and real-time payment governance. And now, Nicky, Cyrus and I are looking for a product person to join us at the ground floor, based in London, to turn this vision into reality. 🛡️About the Role: This is a unique zero-to-one challenge. As our first Product hire, you’ll be setting the product roadmap, partnering with our talented team, and creating secure, user-friendly experiences. You’ll be hands-on, leveraging data to develop and iterate, with an unwavering focus on solving fraud at its roots. This role is perfect for those who thrive in fast-paced, complex environments with a deep passion for fintech and financial security. 🔍 We’re Looking for Someone Who: - Brings industry expertise in financial services or fintech, with hands-on experience in fraud, fincrime, or payments - Balances creativity and rigor, translating empathy for fraud victims into user-centric designs alongside our amazing product designer - Navigates ambiguity with collaborative instincts to build relationships both internally and externally 🏆 Why Join Us? - Big mission, early stage: You’ll have the autonomy and support to build something transformational. - A fantastic team: We bring experiences from companies like Nova Credit, Palantir, TrueLayer, and Onfido. - Our values: We prize creativity, agility, transparency, and a long-term vision for impact, while never taking ourselves too seriously. 🔗 Ready to shape the future of payment security? Check out more about the role and apply here: https://lnkd.in/e7NrVjwQ #Hiring #ProductManagement #Fintech #FraudPrevention #TunicPay

In addition to Thanksgiving season 🦃 , November is also startup & financial services conferences season in Europe. Our founders Nico and Nicky are honoured to be speaking about early results from the UK's experiment to make banks liable for scam losses. The team is particularly excited to chat with fellow fintech founders working in the space or fraud officers at FIs who want to geek out about financial crime -- please do reach out if we're overlapping in London, Lisbon, or Helsinki 💨! 🗓️👇 Nov 6, Fintech Showcase at LocalGlobe office in London: Nicky will be moderating a panel on "Crossing the Atlantic" alongside Arik Shtilman of Rapyd, Dr. Frank Freund, CFA of Raisin, Chris Hamblin of Cleo Nov 13, HSBC Innovation Banking HQ in London: Nico will be on a panel on APP fraud alongside Martina King of Featurespace, Anna Sweeney of fscom Nov 14, Web Summit in Lisbon: Nico will be speaking then emceeing the Fintech Stage from 10am-1pm Nov 19, Financial Crime 360 in London: Nico will be speaking about "AI: the double-edged sword" alongside Marc Corbalan of Visa, Kevin Penter of Barclays, Richard Bromley, ICA Dip(FCP) of Monzo Bank Nov 20, Slush in Helsinki: Nicky will be speaking about "Keeping Up with the Scammers: The Role of Policy and Big Tech" alongside Laura Spiekerman of Alloy, Akila Quinio of Financial Times, Vishal Marria of Quantexa Nov 21, Endeavor's side event in Helsinki: Nicky will be sharing insights on scaling fintech businesses alongside Jack Mardack of Oyster®, Alfonso De los Rios of Nowports, Wiktor Schmidt of Netguru If you're at any of these events, please come say hi!

🚨 Even those of us working to stop fraud are not immune to scams! At Tunic Pay, we are daily receiving phishing attempts including this one disguised as a DocuSign email to our co-founder Nico. Fraudsters are constantly finding new ways to breach defenses, which is why our mission to combat financial scams is so critical. Every day, individuals and businesses face risks like this. That’s why we're dedicated to creating solutions that verify payment instructions and help financial institutions and customers stay one step ahead. Let’s stay vigilant together! 💪 Remember to double-check the sender, look for odd email addresses, and avoid clicking on unfamiliar links. Protecting ourselves starts with awareness and with structural solutions. #fraudprevention #financialscams #TunicPay #APPfraud #StayVigilant

“Online Scams: The Hidden Toll on Families” Some heartwrenching weekend reading as a recent NYT article tells the story of Alfred Mancinelli, a 79-year-old who lost nearly $1 million—and his family’s trust—to a romance scam. The emotional toll of online fraud reaches far beyond financial loss, leaving families feeling helpless and victims isolated. As a financial services industry, we need prevent these devastating scams before they start, so families can protect their loved ones from losses that impact not just finances, but relationships and lives. https://lnkd.in/dtVyhZBP #FraudPrevention #TunicPay #ProtectWhatMatters

🌅 Fantastic start to the day! We hosted an intimate breakfast session on APP fraud with industry leaders, featuring special guest Adam Speakman, Head of Fraud Systems & Controls at Lloyds Banking Group. Key takeaways from our Q&A with Adam 🔍: 🤖 While banks have built robust defences against unauthorised fraud, AI-powered fraudsters target the weakest link - customers. This shift towards authorised fraud means we're seeing more sophisticated social engineering attacks than ever before. 💸 Money muling remains a major challenge for banks; legitimate customers are being recruited through social media, making detection increasingly complex. 🚫 Prevention is crucial - even the best fraud detection models aren't enough. The real challenge is breaking the spell of social engineering and preventing customers from making payments while under fraudster influence. 🌐 Cross-industry collaboration is no longer optional - it's essential. Data sharing needs to transcend traditional banking boundaries, with social media platforms and telcos joining the collaborative effort. 🤝Banks can share more than just data. Events and industry-wide forums play a crucial role in facilitating insight sharing: trends, tactics, solutions etc. 📊 Early observations post-Oct 7th regulation show steady APP claim rates, but watching this space closely. Huge thanks to all the industry experts who joined us today! The open dialogue and shared insights into emerging threats and collaborative solutions highlighted how we're stronger when we work together 💪 #FraudPrevention #APPFraud #PaymentsFraud #FinCrime