Financial institutions face a delicate balancing act that pits the requirements of fraud mitigation against concerns that 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, satisfaction will drop significantly, leading to lost customers.
In an effort to hear directly from industry leaders regarding their current state of fraud prevention, challenges, and the effectiveness of various account takeover fraud mitigation techniques, Forrester Consulting was commissioned to conduct a survey of 204 decision-makers in fraud management, authentication and customer experience. The study explored fraud mitigation and consumer friction with integrated identity verification.
Watch this webinar for a review of the survey results.