Did you know that in 2020, 84% of businesses in Asia Pacific reported losses in revenue due to payment fraud? Or that synthetic identity theft is growing despite strong Know Your Customer (KYC) practices — because, to date, there has been no efficient way to uncover this type of fraud? Thanks to the rise of mobile technology, automation and other contactless payment methods, identity verification has become a top challenge for businesses and financial institutions. As there is no need for human engagement, passwords or signature authorisation, stolen credentials or even devices loaded with contactless cards can be used to…