Digital transformation in banking and retail is rapidly evolving. In this fast-moving environment, where finance and fraud intersect, there are several ramifications for financial institutions and the user experience.
The equation is quite simple: where there is money, there is fraud. As the use of mobile banking grows, so do the threats of hacks, malware and other remote attacks. Traditional means of detecting fraud can take considerable time and resources, sometimes taking weeks to detect or to confirm an incident.
In the digital world - whether mobile payments, e-commerce or online banking – this is much too long. Transactions happen quickly, and any delay can have significant repercussions, both from a consumer confidence perspective and a cost perspective. In the digital world, it seems there is always a choice to make between security and the user experience.
Learn how BioCatch Eliminates the Tradeoff Between Fraud and Friction in this datasheet.