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Preventing fraud the smarter way

Nurdianah Md Nur | Oct. 2, 2014
Analytics can be used to compare a customer's historical activity to his current activity and determine if the activity is suspicious, said Adam Davies of FICO.

In instances of potential fraud, banks must find ways to communicate and engage their customers on their preferred contact channel, and preferably at a time when they are most responsive. This can be facilitated through a single, scalable platform that can automate fraud management across various account channels.

By delivering a positive customer experience in terms of handling fraud, banks can even encourage cardholders to increase usage instead of switching to another card or curtailing spending.

 

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