THE FRAUD RISK CHALLENGE: How are FSIs using AI and biometric authentication to crack down on fraud and provide a seamless customer experience?

Over the past two years, society has leapfrogged into a new digital age.

Restrictions, lockdowns, and growing bank branch closures have driven consumers toward online channels and self-service, with demand for digital financial services at record highs.

Unsurprisingly, the shift to digital products and services has completely transformed the fraud risk landscape, generating a variety of new threats and challenges for financial services institutions (FSIs) which were already a top target for fraudsters pre-pandemic.

FStech and Nuance Communications conducted a survey to assess the role of authentication technologies as organisations adapt to changing fraud methods and Strong Customer Authentication (SCA) and responding to rising customer demand for secure and seamless login processes.


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