Mastering Friction, Security, and Efficiency: A Behavioral Approach to Online Banking

Expectations for smooth interactions across various digital touchpoints, from account access to financial transactions, have intensified. Competition in the financial industry is fierce, and it is no secret that security can sometimes take a back seat to innovation, revenue generation, and customer acquisition.

Friction does not always need to be a risk and can actually present new opportunities. The growth in social engineering scams globally has opened the door to more conversations about introducing “good” friction into the online banking process to prevent fraud, increase customer loyalty, and provide a positive brand experience. Some banks have already started to incorporate features, such as automated payment prompts, when a scam is detected.

This white paper will explore the gaps between customer safety and user experience and present case studies of organizations that have resolved these conflicting priorities through the use of technology and innovative strategies.