Last Updated on September 24, 2022 by merchantfraudjournal
The skyrocketing cost of fraud has been much discussed and isn’t up for debate. The better conversation centers on identifying the best strategy for companies to mitigate the effects of rampant identity crime and get ahead of fraudsters’ increasingly sophisticated methods. It’s imperative that companies look beyond what they’ve always done to see what lies beneath the surface of the obvious aspects of fraud. Because fraud isn’t just about payment, checking out and chargebacks. The hidden costs are often much greater, such as reputational damage to brand and loss of lifetime value of customers. It’s time to embrace the concept of continuous adaptive trust. This approach looks at the customer journey holistically, instead of concentrating on individual stages. Companies that monitor and analyze the consumer lifecycle from end to end can rapidly identify, investigate and respond to unusual behavior every step of the way, while optimizing the customer experience at the same time. Key Learning Objectives What “continuous adaptive trust” means and why it’s essential to mitigating fraud. The level of fraud risk at different stages along the entire customer journey. Firsthand perspective from a fraud protection vendor on how they balance the customer experience and fraud prevention. And much much more!