Blocking fraudsters is key, but it can’t be done at the expense of legitimate customers and transactions. Customer tolerance for friction is lessening amid their expectations of fast, pleasant, and personalized experiences. When businesses implement a friction-filled fraud prevention strategy, these very fraud prevention measures can exacerbate false positives, damage customer relationships, and even cost legitimate sales:
- One in every three transactions declined because of suspected fraud are actually false positives1
- False positives cost organizations 70 times more than actual fraud losses2
- Two-thirds of consumers would switch brands for a better digital experience3
Learn how to implement a friction-right customer experience using device-based identification data; detect fraud while making digital interactions easy and safe for consumers.
- 1, 2 Aite-Novarica
- 3 TransUnion Global Digital Fraud Trends Report
- 4 Juniper Research Study
