Register for our latest webinar with Finextra to hear about tackling account opening fraud with digital identity.
To effectively fight financial crime, banks must develop a comprehensive fraud strategy with enriched data collection, which can provide businesses with more accurate insights and help make quality risk decisions much earlier on in the customer/merchant relationship.
The ultimate goal is to provide customers with a frictionless user experience, while also accurately identifying risk and in turn preventing payments or identity fraud. It’s important for banks to use a fraud strategy that can recognize not only criminal activity and behavioral patterns in the present, but also stay on top of real-time trends and adapt to future fraud schemes.
One more recent area of focus for financial criminals has been using synthetic identities to open fraudulent accounts or take over existing customers’ accounts. In recent years, there have been high-profile data breaches as a result of synthetic identity fraud. We expect that due to commerce becoming more digital, this will continue to be an attractive prospect for fraudsters.
Banks and merchants can help prevent this by using tools to more accurately assess and identify the risk of fraud, while an account is being opened and even before a transaction occurs.
Join this webinar from Finextra, in association with Accertify, to hear experts discuss:
- Optimizing fraud prevention strategies with data to better recognize legitimate customers vs. fraudsters, before a transaction even occurs
- Using artificial intelligence, machine learning, behavioral and historical data to better protect your business and your customers
- Understanding the impact of fraud and financial risk on merchants and consumers
Gary Wright – Head of Research, Finextra
Chris Purvis – VP, Technology, Accertify Inc.