Closing the gap between fraud prevention and a better customer experience

Recent study from Forrester shows 65% of banks plan to adopt an IDP in their tech stack to solve their identity challenges

Customers expect fast, fully digital banking experiences, but the increase in fraud is making it difficult for financial institutions to meet this need without putting themselves at risk. How can they find the balance between improving customer experience and preventing fraud? To solve this problem, banks are starting to scrutinize their existing tools and explore new strategies for verifying customer identity and reducing fraud. “The Identity Decisioning Imperative,” a recent research study from Forrester, details how 100 senior leaders at large financial institutions in the US are closing the gap between managing identity challenges and increasing fraud risks and providing a good digital customer experience.

Forrester's new study uncovers:

  • Challenges banks commonly encounter when verifying identity
  • Why less than 50% of respondents believe their organization is very effective at managing identity decisions
  • Banks’ plans to address these challenges through new, innovative technology

9% of banks have already adopted an Identity Decisioning Platform, and 65% plan to follow in the next two years. Download the full study to find out what other financial institutions are investing in to make identity decisioning a priority.

Source: “The Identity Decisioning Imperative,” a commissioned study conducted by Forrester Consulting on behalf of Alloy, November 2021.

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