Application Fraud Explosion

Do You Know Your Customers?

Recorded On: February 27, 2019

Application fraud represents one of the fastest growing business challenges to financial institutions (FIs) across multiple digital channels. By 2020, it is projected that US-based FIs will spend $1.4 billion dollars to fight checking account and credit card application fraud. So, what are you to do? How do you combat this aggressively growing fraud trend and spend?

Join us for this complimentary BAI webinar featuring OneSpan and Aite Group analyst Shirley Inscoe for the latest application fraud techniques, and what actions can be taken to mitigate and detect multi-channel fraud to ensure better account opening and onboarding experiences.

Key Takeaways:

Best practices for understanding the cost of application fraud

  • An overview of identity verification and authentication gaps that are enabling fraudsters to bypass common fraud prevention processes
  • The move towards identity document capture and verification solutions for lowering fraud and achieving KYC compliance requirements
  • Machine learning-based fraud detection solutions – behavioral biometrics, device identity, ID document capture and more
  • Post-onboarding: protecting against account takeover fraud

All registrants will receive a complimentary copy of the recently published Aite Group report, “Application Fraud: Fighting an Uphill Battle”.

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