Striking the right balance between reducing fraud rates and maintaining an easy, frictionless experience for genuine customers is a constant challenge for banks.
The growth of open banking initiatives globally, whilst good for consumers, is causing many to rethink the best way to mitigate fraud. Disintermediation threatens to distance banks from their customers whilst at the same time regulators are pressing them to take more liability for losses that their customers are unwittingly incurring.
With the advent of PSD2 in Europe it is more important than ever to be able to react faster to new fraud threats originating from an increasing number of channels. Failure to respond quickly could lead to increased authentication checks and the negative customer reaction that would generate.
So how to square the circle?
At the vanguard of fraud prevention, those with foresight are starting to link up a number of innovative strategies that go beyond tactical reactions and siloed solutions. These are the strategies that offer the best prospects for overcoming the threat of ever more sophisticated criminal organisations.
This webinar covers the ways to carefully monitor fraud attacks, how to automate detection, quickly adjust rules in response to new threats and ways for customers to pre-verify certain transactions as genuine and redesign the whole journey to improve customer experience. We also look into the future and highlight some areas where we believe the most uncertainties will lie.