FStech - The fraud risk challenge: How are FSIs using AI and biometric authentication to crack down on fraud and provide a seamless customer experience?

1. How has the fraud risk landscape changed for your organisation in the past 2 years? [Select the most appropriate]

2. Has the shift to digital channels and self-service in the past year increased fraud risk for your organisation? [Select the most appropriate]

Yes
Somewhat
No

3. Which of the following methods are fraudsters using to target financial services organisations? [Tick the top 3]

Impersonation fraud
Online banking fraud
Card Not Present fraud
Authorised Push Payment (APP) scams
Skimming
Card not received
Phone bank fraud
Phishing/Business Email Compromise
Invoice fraud
Online banking fraud
Catfish scams
Clone websites
Card identity fraud
Loan fraud
Account takeover

4. Which of the following channels are a focus for anti-fraud and compliance teams? [Select all that apply]

In-person/in-branch
Online (website)
Banking/other app
Telephone banking
Customer services support
Postal banking

5. Which of the following authentication technologies is your organisation currently implementing? [Select all that apply]

Password & pin login
Username & password
Multi-factor authentication
Password reset with email/SMS
Voice biometrics
Facial biometrics
Fingerprint biometrics
Multi-factor authentication
Token-based authentication
Behavioural (e.g. keystroke pattern)

6. Which of the following best describes customer attitudes to authentication methods? [Select all that apply]

Customers want as little friction as possible in the login process
Customers are reassured by multi-stage authentication
Customers want a small amount of friction
Customers are reassured by biometric authentication
Customers are comfortable with pin & password login
Customers are frustrated with pin & password login
Customers are comfortable with facial & fingerprint biometrics
Customers have concerns over facial & fingerprint biometrics
Customers are comfortable with voice identification biometrics
Customers are uncomfortable with voice identification

7. To what extent is your organisation using its authentication strategy to streamline and personalise customer interactions? [Select the most appropriate]

Authentication strategy designed with streamlining/improving customer interactions in mind
Authentication strategy somewhat used to streamline/improve customer interactions
Authentication strategy not involved in streamlining/improving customer interactions
Authentication often results in customer frustration/abandonment

8. What are the top challenges for your organisation in preparing for the arrival of Strong Customer Authentication (SCA)? [Tick the top 3]

Running out of time / Not enough time
Failure rates on challenged transactions
Difficulty collaborating with merchants / technology providers
Legacy technology/infrastructure
Lack of guidance / information
Resistance from consumers
Delays due to coronavirus
Lack of/poorly organised data
Lack of skills/training

9. On a scale of 1-5, how important is it for your organisation to ensure customer verification methods are inclusive of diversity and vulnerable customer demographics to improve access to support? [Choose one]

1
2
3
4
5

10. What are the top barriers to implementing AI-assisted voice authentication? [Select all that apply]

Perception that there will be resistance/lack of trust from customers
Lack of knowledge
Not enough demonstrable use cases
Perception that it is complicated/hard to implement
Lack of skills
Cost of deployment
Buy-in from senior leadership
Risk management
Legacy technology
Security concerns
Conflicting priorities across the organisation
Lack of flexibility

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