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Payments & More - Allyiz Show
Episode 2: Payments & Fraud Prevention as a profit center | Diarmuid Considine


Tune in to this episode of the Payments & More podcast with host Nico as he chats with payment professionals about their business journeys and lessons learned. Don’t miss out on the stories and perspectives they share that will shed light on what’s hot in the payment space. Today’s guest is Consi (Diarmuid Considine), famous in the payment industry and awarded for his clever approach to payments. Listen in to hear how to position payment and fraud as a profit center in your company, find out his opinion of fraud solution market, and hear about his call to action for the industry.

With 23 years of experience in the payment industry, Nico starts off with praising Consi’s successes and asks about his unique opportunity to meet Microsoft’s Steve Ballmer. Nico then jumps into the conversation by asking Consi to discuss the idea of fraud prevention as being a profit center. Find out how Consi was incentivized to come up with profiling and analytics to generate revenue that would have otherwise been blocked after his team had effectively reduced costs but had missed the target for revenue generation. Consi’s team was not only successful in accomplishing this, but they won an award for it and he said that gaining additional resources became considerably easier after this.


Nico turns the conversation towards discussing the life expectancy of fraud and how many people a company should have working on this internally. Consi is convinced that every company should have at least one internal person who knows the details of the company and is working on the fraud/payments side. Consi shares about their success in combining fraud and payment but says there is a line to how much you can get out of only your own data. Will there always be fraud? In short, Consi says yes. With COVID, there are even more players in the market. Fraud solutions are necessary to preserve margins—there is always a niche and opportunity to use technology to advance accuracy in detecting fraud.


Moving the focus to technology, Consi chats about what catches his attention with considering the life cycle of a transaction. He shares about the movement to bring authentication towards the forefront of a transaction and how this is surfing on societal changes with more acceptability of digital identity being stored. Nico asks about “ID proofing”,  when document centric proofing will end, and what should take the balance between schemes and alternative methods in the payment ecosystem. Listen to Consi’s perspective on the opportunity that exists to connect the merchants and issuers.


Nico takes a break for the Golden Minute in this episode to hear how Consi would address the industry and what call to action he’d assert. Consi says it’s an opportunity for collaboration, as there is no comfort in us all failing while the fraudulent forces succeed. The industry needs to bring together ideas and data to advance against fraud.


The episode draws to a close on a personal note. Find out about Consi’s time in Bolivia and short career in bar management at Oliver’s Travels. Finally, Consi leaves us with some last words of advice to consider in moving forward—reach out and collaborate, engage with one another.


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0:47 Consi introduced

1:28 Consi welcomed on

3:44 Moment of praise for Consi

4:25 Fraud prevention as a profit center

7:40 Minimum of workers internally?

9:58 Will there always be fraud?

12:26 Fraud solutions necessary to preserve margins

13:30 Technology that is catching his eye

19:44 Document centric ID proofing

21:29 Schemes and alternative methods in the payment ecosystem

23:52 Golden Minute

26:58 Story of time in Bolivia

28:35 Last words


About Diarmuid Considine (aka Consi)

Diarmuid Considine (aka Consi) is an award-winning and internationally recognised Fraud and Risk Management Thought Leader and Subject Matter Expert with two decades of strategic and operational experience. From the front line of fraud investigations all the way up to the Global Board of the Merchant Risk Council, Consi brings a passion and perspective on Profitable risk management that is always topical and relevant.


Connect with Consi on LinkedIn


About Allyiz

Allyiz (pronounced allies) is the “go-to” company for payments experts for businesses who want to source knowledge, time or people. Allyiz distinguishes ourselves from consultancies by bringing the expertise and experience of professionals who have successfully run the function on the business side and have done it well many times. We run short projects and deliver actionable results.


Connect with Allyiz on LinkedIn  or at

Payments & MoreEpisode 2
00:00 / 01:04
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