Application fraud is one of the most significant challenges for financial institutions, and fighting identity crimes remains an uphill battle as hackers use massive amounts of leaked data and innovative attack methods.
This new Aite report reveals the growing losses to application fraud. Executives at more than 30 financial institutions provide deep insights into where the industry is headed and their strategies to respond including new technology investments to reduce fraud while meeting regulatory compliance.
Download this report to learn:
- Application fraud trends in the financial industry
- Satisfaction levels with current risk assessment solutions
- The most popular types of solutions used for demand deposit and credit card application fraud assessment
- Top factors driving investment in new account risk assessment tools
- Why 90% of FIs plan to implement identity verification and document capture technology
- Why 58% of FIs plan to replace or add new security vendors in the next two years
- Analyst recommendations for adaptive authentication processes, mobile identity technology, mobile identity capture and risk analytics