Financial institutions (FIs) must support the channels and services that consumers demand in order to remain competitive. To that end, supporting account opening, delivering new transactional features, and facilitating payments through digital channels have become table stakes.
Unfortunately, the speed and convenience that these capabilities afford is a benefit to consumers and fraudsters alike. To successfully prevent fraud, FIs must understand how fraudsters are exploiting these capabilities and fight fraud with customer experience in mind.
This white paper examines the interplay between the challenges and opportunities afforded by the growing breadth of digital channels offered by financial institutions. It further explores security solutions, background analytics and personnel for robust fraud protection.