Frictionless & Fraud-Free Customer Onboarding

Frictionless & Fraud-Free Customer Onboarding

In recent months, companies worldwide have found themselves exposed to increasingly sophisticated cyberattacks. With traditional, personally identifiable information becoming more vulnerable than ever, bad actors find opportunities to create and foster synthetic identities. These synthetic identities are difficult to detect without a layered fraud prevention and identity verification approach. 

Recent studies indicate that these fraudulent activities make up 20% of all profit losses, forcing financial institutions to reassess their risk management strategies. Specifically, the need has arisen for solutions to protect all stages of the customer journey, from account opening to transactions.

• How can companies identify and prevent synthetic identity fraud?
• What are the tools available to combat different fraud schemes and improve the customer onboarding experience?
• How can dynamic identity data help detect and deter the creation of fake accounts?