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
95% automation rate when verifying customers
Wirex
300% increase in monthly onboarding rates
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.