New account opening fraud can directly impact the bottom line and threatens new digital business models, especially those that rely on growth through rapid customer acquisition. From credit cards and deposit accounts to a wide range of lending products, cybercriminals spare no effort to turn a profit by exploiting weaknesses in the digital onboarding process. This e-book explores the financial and business impacts of new account opening fraud, the effect on customer experience, and how behavioral biometrics can be used to reduce fraud risk and increase customer acquisition in digital onboarding.
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