Fraud checks shift as transactions move in real time

Globe Business monitors logins API requests traces and system health.

Philippine banks and insurers are accelerating investments in streaming data systems as rising digital transactions increase pressure to detect fraud instantly, reduce delays, and meet customer expectations shaped by e-wallets and e-commerce platforms.

According to Marlon Cruz, Assistant Vice President in Business Solutions Consulting at Globe Business, delayed processing systems are becoming less effective in an economy where customers expect transactions and payments to happen immediately.

“Before, it was okay to wait, but now it's not,” Cruz said. “The game has changed.”

Cruz said consumers no longer compare banks only against financial institutions. Expectations are increasingly shaped by online shopping apps, digital wallets, and real-time payment platforms.

“Filipino customers don't think about banking hours or processing time,” Cruz said. “If your service is not as fast and as seamless as that, it feels broken.”

However, many institutions still rely on batch processing systems that handle information in delayed intervals rather than instantly analysing transactions as they occur. Cruz argued the biggest weakness emerges during fraud detection. In batch systems, suspicious transactions may only be reviewed hours later after losses have already occurred.

“If someone uses a stolen credit card and purchases, for example, a flagship iPhone at 10 a.m., you will only catch it after the store closes at 9 p.m.,” Cruz said.

By contrast, streaming systems process data immediately from the point of sale to headquarters, allowing banks to block fraudulent activity whilst transactions are still happening.

“The bank flags the charge, the card is blocked, and the transaction is blocked while the buyer is still standing in front of the counter,” Cruz said.

According to Cruz, Globe Business also monitors login activity, API requests, application traces, and system health to create “end-to-end visibility” across financial operations.

“At the back end, we act like a digital CCTV,” Cruz said.

Cruz warned institutions that fail to adopt streaming systems risk slower fraud response, weaker customer experience, and declining competitiveness as digital finance accelerates.