Fraud Management - Real Time Fraud Analytics to Reduce Friction and Improve the Customer Experience
Real-time, customer-centric fraud prevention starts with transforming fraud management into an area of competitive advantage. Innovations in analytics and the ability to respond in real-time are now allowing financial services organizations to effectively address various fraud issues across their products and at the same time, deliver services to customers on the terms they demand which should be both frictionless and non-invasive. This session will highlight the current trends in fraud management as well as insights on groundbreaking analytic technologies - multi-layered self-calibrating analytics and adaptive analytics - that are changing the way fraud systems decode your customers' behavior in real-time so you can reduce false positives and respond as your customers expect.
See Also: 2017 Predictions on Data Security: Insights on Important Trends in Security for the Banking Industry
Join this session to gain insights on:
- Role of Big Data in fraud management
- Reducing false positives and improving the customer experience
- How fraud alerts can drive customer loyalty
Statistics show that poor handling of a fraud incident is a key reason organizations will lose the trust of a customer and why that customer is likely to close an account.
Fraud management shapes the customer's experience. You succeed when genuine transactions are not declined, contact is established within seconds, interactions are personalized and convenient and customers are informed and empowered. But how does an organization achieve this?
In this session T.J. Horan, vice president of product management at FICO explains how organizations can lift the customer experience by taking a holistic view of the customer, leveraging big data analytics to reduce false positives, and implementing fraud alerts in the most effective (and customer preferred) manner. Topics of discussion include:
- Behavior sorted lists
- Adaptive analytical model
- Collaborative profiles
- Self-calibrating analytics
This session was recorded during the 2014 Fraud Summit Toronto. Additional recordings include:
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