July 02, 2018

Eight reasons why technology is crucial in the fight against digital banking fraud

Improving technology tools are enabling criminal gangs to execute more complex frauds; a technology-based strategy is the only practical response if banks are to succeed in safeguarding their brand reputation and customer trust.

Advanced anti-fraud systems offer critical strengths in banks’ fight against fraud. Using the eight key strengths below, it is possible to set out an effective solution to digital banking fraud based on technology tools available today. In our latest eBook on digital banking fraud, we’ve outlined those strengths as:

  1. Timeliness
  2. Comprehensiveness:
  3. Risk sensitivity
  4. Focus on the individual customer
  1. 360-degree surveillance
  2. Efficiency
  3. Record-keeping
  4. Ability to learn

8reasons

Fighting against fraudsters is a continuous cat and mouse game. However, with the recent advances in machine learning and artificial intelligence, we’ve managed to move out of this game and significantly improve banks’ fraud prevention capabilities even for new fraud types. The future looks promising. In my next blog post, I will provide the detailed outlines for a tech-led solution. Stay tuned!

If you would like to read more about how technology and machine learning-based anti fraud systems in particular help banks to prevent digital banking fraud, feel free to download this eBook.  

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Get eBook - Digital Banking Fraud: Best Practice for Technology-Based Prevention
Picture of Jérôme Kehrli
Jérôme Kehrli

CTO at NetGuardians

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