Financial institutions face a delicate balancing act that pits the requirements of fraud mitigation against concerns requisite authentication processes may frustrate legitimate consumers and drive operational costs higher. If a business doesn’t invest in fraud prevention, it opens itself up to financial losses and reputational damages. But if a business places too much friction on the consumer experience, consumer satisfaction will drop significantly, leading to lost consumers.
We wanted to hear directly from industry leaders regarding their current fraud prevention strategies, challenges they faced, and the effectiveness of various account takeover (ATO) fraud mitigation techniques. So we commissioned Forrester Consulting to conduct a survey of 204 decision-makers in fraud management, authentication and customer experience to explore fraud mitigation and consumer friction with integrated identity verification.
Watch this on-demand webinar for a review of the survey results.