More and more customer interactions and transactions are moving into the digital arena. While regulation has encouraged significant strengthening of security around customer accounts and payments in recent years, fraudsters continue to seek out vulnerabilities in the system.
Ensuring a smooth and rapid customer experience means asking for as little information as possible at each interaction. Step-up authentication—where users can access some services with one set of credentials but are asked for further verification if they access further services or are deemed risky—is a useful way of striking a balance between security and friction. The caveat with step-up authentication is that it doesn’t completely eliminate disruption.
The latest identity and authentication solutions take a holistic view of identity and risk, combining physical identity verification with digital identity evidence based around the device that is being used, geographical location and the customer’s behavior.
Combining multi-factor and passive authentication tools in a layered approach helps optimize risk-appropriate verification for specific journey touchpoints to enable businesses to:
Download the infographic for insights on prioritizing convenience and safety across the customer journey.
For more in-depth insights download the Global State of Fraud and Identity report and learn about the latest perspectives to support a proactive fraud response.
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