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Exclusive research: how banks are balancing fraud prevention and user experience

Bank fraud attempts rose 159% in Q1 2021, compared to the previous year. At the same time, banks and customers alike had to rapidly adapt to digital interactions. 

In this report, 200 banking executives employees offer their insights about how they balance fraud prevention with a good customer experience.

Download now to learn how your peers are managing:

  • Process automation strategies and benefits

  • Customer-friendly fraud prevention tactics

  • Best practices in outcome-driven planning

Why Onfido for innovative banks?

Chipper Cash

Chipper Cash

95% automation rate when verifying customers

Wirex

Wirex

300% increase in monthly onboarding rates

bunq

bunq

5x more users verified and onboarded

How does it work?

Users simply take a photo of their ID and snap a selfie. Onfido then digitally proves a user’s real identity using artificial intelligence (AI), by verifying that photo ID is genuine and comparing it to the person’s facial biometrics.

  • Leverage a customizable platform to fine tune the balance between security and convenience to meet your risk thresholds.

  • Get comprehensive identity verification checks to stop fraudsters and keep your company and revenue safe.

  • Stay compliant with KYC and AML without overwhelming your manual review staff and increasing your operational costs.

Want to learn more?

Read the report
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