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Online fraud has increased at unprecedented levels over the past two and half years, with numerous reports coming from all corners of the world to confirm that. From benefits and unemployment fraud to authorised push payment fraud, and more advanced scams such as synthetic identity fraud and deepfake fraud, cybercrime has been on the rise. Understandably, the increase in criminal activity has had a significant impact on financial services businesses, and it is little wonder that this has been reflected in our recent study: • 48% of businesses reported that fraud is a high concern, and 90% reported fraud as a mid-to-high concern • 70% of businesses said their concern about fraud has increased since last year • 80% of businesses said that fraud is often or always discussed within their organisations High levels of fraud have also raised consumer concern, and their expectations of the protection businesses should offer them. Nearly three-quarters of consumers said that they expect businesses to take the necessary security steps to protect them online. However, only 23% of respondents were very confident that companies were taking steps to secure them online. Businesses need to take additional steps to meet consumer demand, while also protecting their reputation and revenue streams. Businesses are investing in fraud prevention, so why isn’t it working? As a result of the rise in fraud during the pandemic, there has been an increase in spending related to fraud prevention tools and technology, with 89% of businesses surveyed in our latest research indicating that investment in fraud detection software is important to them. However, there is a risk that institutions could take a siloed approach, and funds could be spent on point solutions that solve one or two problems without adding the needed flexibility to fight multiple attack patterns. This gives fraudsters the opportunity to exploit these gaps. Orchestration and automation drive fraudsters away Criminals constantly evolve. They are not new to technology and have multiple attack patterns that they can rely on. They also share information between themselves at a higher rate and pace when compared with financial institutions, banks, and merchants. Fraudsters can learn how to bypass one or two features in an organisation’s fraud prevention strategy if they recognise weak spots or a vulnerability that they can take advantage of. However, when multiple fraud prevention tools and capabilities work harmoniously against them, the chances are higher that they will eventually be blocked or forced to move to a weaker place where they can exploit another system. Synchronizing multiple solutions together is the key to excellent fraud orchestration Fraud orchestration platforms give businesses the chance to layer multiple solutions together. However, taking a layered approach is not only about piling multiple point solutions but also about synchronizing them to achieve the best output possible. Every solution looks at different signals and has its own way of scoring the events, which is why they need to be governed into a workflow to achieve the desired results. This means that institutions can control and optimize the order in which various solutions or capabilities are called, as the output of one solution could result in a different check for a subsequent one or even the need to trigger another solution altogether. It also gives companies the ability to preserve their user journeys while answering different risks presented to them. Some businesses are seeking to build trust with customers but want to stay invisible to remove friction from their digital customer experience. This is where capabilities such as device intelligence, behavioural biometrics, or fraud data sharing could be added as an additional layer in the fraud prevention strategy. Those additional solutions may only be called 30 per cent of the time when there is a real need for an additional check. Excellent orchestration means that organisations can rely on multiple solutions while only calling the services they need, exactly when they need them. Building trust through a secure but convenient customer experience. Machine Learning should be the final layer to rule them all The results from our research revealed the top initiatives that businesses are leveraging to improve the digital customer journey with the top two being: • Improving customer decisioning with AI • New AI models to improve decisioning While our April 2022 Global Insight Report showed that consumers are becoming more comfortable with AI, with 59% saying they trust organisations that use AI. Fraud orchestration platforms allow companies to deploy unified decisioning by leveraging machine learning (ML) on top of multiple fraud prevention tools. This means they can rely on one cohesive output instead of looking at separate, sometimes contradictory results across various platforms and making subjective decisions. ML can also offer explainability by pointing out the attributes that contributed the most to a particular suggestion or decision. These could be attributes coming from a few different tools instead of one. This also means that operational teams, like fraud investigators, have a single view of activity, resulting in operational efficiency - removing the need to log in to different tools and look at multiple screens, views, and scores, while also enabling faster decisions. Stay in the know with our latest research and insights:

Did you miss these June business headlines? We’ve compiled the top global news stories that you need to stay in-the-know on the latest hot topics and insights from our experts. Protecting customer accounts: The defining domain of digital CISOs CIO reports on data from Experian's latest Global ID & Fraud Report to look at why expanding challenges and responsibilities around customer and employee data protection and user experience means that the right authentication solution is critical. Experian says 25% of consumers were victims of online fraud in Asia Pacific Fintech News looks at Experian's latest Global ID & Fraud Report, citing that a quarter of consumers across Asia Pacific (APAC) have been victims of online fraud, but across all markets surveyed in the region, many remain unconcerned about fraud and identity theft amidst today’s growing fraud risk due to digitisation. Experian India launches PowerCurve Strategy Management, cloud-based decisioning solution The Business Information Industry Association reports that Experian India has launched a new PowerCurve Strategy Management solution, a powerful decisioning solution delivered as software-as-a-service via cloud. Digital wallets win over Brazilian consumers; Interview with Caio Rocha, gives Serasa expert opinion Serasa's Caio Rocha talks to Jovem Pan News in an exclusive interview discussing Experian's recent Global ID & Fraud Report, highlighting that 9 out of 10 Brazilians consider digital wallets safe. Stay in the know with our latest research and insights:

The survey underpinning these insights encompasses 1,849 business respondents and 6,062 consumers from 20 countries, including Australia, Brazil, China, Chile, Colombia, Denmark, Germany, India, Indonesia, Ireland, Italy, Malaysia, The Netherlands, Norway, Peru, Singapore, South Africa, Spain, UK, and US. We’ve also included interviews with consumers from Brazil, Germany, the UK, and US.

Building digital consumer trust amidst rising fraud activity and concerns Our latest report dives into the growing expectation that businesses recognise and protect consumers online, and the challenges businesses must overcome to succeed in building digital consumer trust. In recent years, our annual report has called on businesses to meet consumer expectations for online recognition and security while also improving their digital customer experience. Our latest research reveals that companies have received the message and are investing in multiple digital initiatives. But the fraud risk persists. 70% of businesses say that their concern about fraud has increased since last year. So where is the disconnect? A look inside this year's report: Digital financial transactions have become the norm in recent years leading to the emergence of a movement of savvy consumers with a heightened awareness of fraud and the role recognition and security tools play in protecting them online. We found that more than half of consumers surveyed globally have been a victim of fraud or know someone who has. Despite these concerns, most consumers say their online activity will increase in the next 3 months. What are consumers looking for from businesses? Consumers globally value security in their online experience above other factors. The research reveals how consumers are actively seeking out businesses that they perceive to be secure, and what this looks like to them. Read the report to find out: • How online security yields engagement and trust with today’s digital consumers • The role of businesses in protecting online consumers and the benefits of doing so • The current opportunity for businesses to implement multiple identity and fraud solutions • The role that orchestration and outsourcing play in helping companies prevent fraud We discovered there is still a significant gap between consumer sentiment and business intentions related to identity recognition. Only 30% of consumers are confident that businesses will recognize them repeatedly online, even though 84% of businesses say recognising customers is very or extremely important. What leads to success? Financial service organisations need to find ways to create more online security while improving the digital customer journey. Experian’s identity and fraud experts also offer 5 tips for strengthening digital capabilities to benefit the customer experience and reduce fraud risk. The survey underpinning these insights encompasses 1,849 business respondents and 6,062 consumers from 20 countries, including Australia, Brazil, China, Chile, Colombia, Denmark, Germany, India, Indonesia, Ireland, Italy, Malaysia, The Netherlands, Norway, Peru, Singapore, South Africa, Spain, UK, and US. We’ve also included interviews with consumers from Brazil, Germany, the UK, and US.

Experian’s latest research shows that the crisis of the past few years has yielded a new, savvier digital consumer. With the rapid move to online services amidst the pandemic, consumers worldwide adapted—and quickly. Fifty-three per cent of consumers say they have increased their online spending and transactions within the past three months, and 50% plan to increase it even more over the next few months. As online activity has surged, so too have consumer expectations for friction-free, secure transactions. More than 80% of consumers say a positive online experience makes them think more highly of the brand. And if businesses don't meet those expectations? Well, switching providers is only becoming easier . For financial service providers, the evolution of consumer behaviour presents both an opportunity and a challenge. It's never been more critical to ensure that digital experiences are convenient and frictionless. However, soon that will be the expectation and not the draw for new customers. Instead, finding unique ways to compete will be what separates the good from the great. Convenience versus risk In our latest survey, consumers ranked security, convenience, and ease of recognition as the top contributors to a positive online experience. All of these are vital components to providing a frictionless transaction. However, seamlessly logging in to a financial app, applying for credit, or managing a balance isn't yet the standard for every provider. Many traditional banks continue to play catch-up with digital upstarts, but consumers are becoming less tolerant of barriers to accessing services and products, with 23% saying that businesses aren’t meeting their expectations for digital experiences. This provides businesses with the opportunity to attract and retain new customers, especially those tired of manual account onboarding processes. For instance, leveraging emerging recognition tools adds to the convenience factor, limiting the time customers spend inputting data and streamlining the entire experience. But even as they continue to prioritise frictionless processes, businesses should be wary of sacrificing security or increasing their own risk. In our survey, 73% of consumers said that the onus is on businesses to protect them online. While they don't want security efforts that slow down their transactions, they expect the level of security to remain high nonetheless. On the business side, we've also seen providers creating friction-free options for lending—for example, in the Buy Now, Pay Later (BNPL) space—that enable consumers to access credit nearly immediately. But even with the convenience, there is still a need to manage affordability and ensure that these customers aren't introducing additional risk to credit models. Differentiate to retain customers: The growing role of rewards With all the innovation underway, a friction-free experience will become the standard. And it may already be so among digital-first businesses. This begs the question: If a secure, convenient experience is the norm for consumers, then how can businesses differentiate themselves? The next competitive differentiator will be how businesses reward customers for their loyalty. It's no longer enough to provide new customers with low-interest or no-interest credit on small purchases. Forward-looking financial services providers are getting far more creative with their rewards. For instance, businesses offering BNPL are enabling their customers to accumulate loyalty points for using the service with multiple retailers. Customers can then put those points to use as discounts on merchandise from the places they already love to shop. Data sharing and analytics play a significant role in this approach, allowing businesses to understand their customers' behaviours and personalise offers and rewards. Notably, our survey reveals that 83% of consumers say their awareness of how companies use their personal data for security, convenience, and personalisation has increased. Today's consumers are as digital as ever, and there's no going back. While friction-free may have been the differentiator before, it's rapidly becoming the standard. Going forward, financial services providers will need to find a new way to compete for savvy consumers who expect—and demand—secure, frictionless online experiences. Stay in the know with our latest research and insights:

Did you miss these April business headlines? We’ve compiled the top global news stories that you need to stay in-the-know on the latest hot topics and insights from our experts. Experian Named Top Provider of Digital Identity Juniper Research acknowledges Experian as an established leader in digital identity in its competitor leaderboard, highlighting the flagship identity and fraud platform, CrossCore™. The report also looks at the key areas of digital identity and where its headed. What’s the hardest part about using synthetic data correctly? Braintrust, Protocol's experts on the biggest questions in tech, talks to Eric Haller, VP and General Manager of Identity and Fraud and Datalabs, about using synthetic data and what challenges are involved in the process. Passwordless MFA: The Single Way To Mitigate the Top 5 Threats to Your Customer Identities As cyber criminals discover new methods to compromise consumer accounts, forward-thinking organizations are adopting solutions for better security and a smoother customer experience. Experian Finds Mobile Wallets Rival Traditional Payment Methods The new Experian Global Insights Report concludes that digital online spending will continue to gain strength even as consumers emerge from lockdown and return to in-person transactions. 6 e-commerce cyber fraud challenges in 2022 Mike Gross, VP Applied Fraud Research and Analytics, discusses the biggest cyber fraud trends predicted to come up in 2022. From deepfake fraud to fraud as a service, and the developing relationship between digital identity and verification with fraud detection. Stay in the know with our latest research and insights:

According to our latest research, 53% of consumers surveyed said their online spending and transactions increased in the past three months, and this is set to continue. Online shopping has become the norm for many, but what does that mean for online fraud? As with any growing industry, the fraud associated with it is also growing and changing. We take a look at brushing scams and what businesses can do to get ahead of this type of criminal activity. What is a brushing scam? A little-known scam called brushing has increased in popularity across the globe as more consumers are purchasing online exclusively. An increase in eCommerce means consumers are relying on the reviews of previous customers when deciding what to buy or whom to buy from, increasing the number of reviews, including negative reviews that impact these businesses. Most online retailers or eCommerce sites have a rating system in which verified buyers can rate the product purchased or, in the case of third-party retailers, can rate the sellers. The better the rating, the higher the seller is listed in searches. Many of the ratings include the number of purchases in the rating factor. The more purchases, the higher the rating. A brushing scam is when someone is hired to write a favorable review for an online seller. To become a verified buyer, they order small-value items with lower shipping costs so that the cost to complete is meager. They purchase the item under someone else's name and address to become and then create a favorable review for the seller. When done multiple times, it brings up the seller's rating by increasing the number of items sold and the number of favorable ratings and then increases the chances that real buyers will purchase from the seller. Other variations of a brushing scam include sending items that were not ordered at all or even empty boxes and envelopes. The orders are used to boost third-party rating positions, which allow these sellers to be listed higher in the third-party search algorithm and ultimately placed their business/product in front of other customers wanting to buy that product. The implications of brushing scams on consumers and businesses This type of fraud is two-fold for the consumer. It leaves many victims confused because it doesn't feel like fraud, and the victims don't understand how it impacts shopping habits, which leads to little or no detection. On the surface, the scam seems harmless. However, at minimum, the receiver has had their name and address compromised and may have additional personally identifiable information compromised. As a result, additional fraud activity may occur with the stolen personally identifiable information. But it also has economic side effects. By fraudulently increasing the sales numbers on financial statements it effectively feeds false information on publicly traded company performance. In addition, the Federal Trade Commission, which protects consumers from any false marketing, sees fake reviews as a form of fraud to the consumer. Online third-party resellers have policies that prohibit sending unsolicited packages and false reviews. They will suspend or remove accounts found to be doing this activity and work with law enforcement when needed. The problem is that the third-party reseller often doesn't know when it is happening, and many brushing scams go on unreported. What businesses should do to prevent brushing scams Businesses at risk of brushing scams, such as third-party resellers, should have a risk strategy that proactively searches for suspicious brushing activity. As with any fraud type, there is no one-size-fits-all solution and should include a layered approach that will detect the various known traits of how the fraud is carried out. Below are solution types to consider in a company's risk strategy. Device Intelligence Multiple orders/reviews are done from the same device with this trend. Using device intelligence to detect when the same device is used for multiple consumers of no relation can be an effective tool in identifying this type of scam. Email Intelligence Many fake user accounts are created with an email address that does not belong to the real person. Email intelligence solutions that can confirm the legitimacy of the email associated with the consumer can be another effective tool. Biometric Intelligence Detecting fraudsters from genuine users whether the interaction is human or automated, including bots, malware, or remote access tool by using the behavioral biometrics mouse movements, typing cadence, etc. Biometric intelligence is a proven tool in increasing the number of fraud transactions caught. Link Analysis A tool that detects additional accounts with the same details as accounts with confirmed fraud that may not have been alerted with another solution. While this is a hindsight tool, it can assist in uncovering trends. Machine Learning As this scam is evolving, the use of machine learning to detect the new patterns will be a highly effective tool for the large third-party resellers to detect emerging trends and keep operational costs reasonable, quickly and effectively. Machine learning is highly effective in reducing customer friction. As with any risk strategy, people within the organization should be made aware of the scam type and the internal reporting process. All customer reports should be taken seriously and reported to the proper investigation team. Stay in the know with our latest research and insights:

Juniper Research’s latest digital identity leader board predicts a big shift in the market – identity and fraud are now becoming synonymous. Experian’s position as number one vendor on Juniper Research’s leader board demonstrates why Experian’s flagship digital identity and fraud platform, Crosscore, is central to the future of  identity and fraud management. “We’re thrilled Juniper has positioned us as the top provider of digital identity,” said David Britton, Vice President of Global Strategy for Digital Identity & Fraud at Experian. “Being able to accurately identify a customer in a digital transaction helps our clients provide a better customer experience and prevent fraud. Fighting fraud and reducing risk, while enabling great consumer experience is at the heart of Experian’s mission to make the digital world a safer place, even as cybersecurity rises as a worldwide threat.” Digital identity’s convergence of identity verification and fraud detection presents both opportunities and challenges for businesses, all in direct response to new consumer demands for a seamless, safe and uninterrupted digital customer journey. Key digital identity market Takeaways – Juniper Research Identity and Fraud Are Becoming Synonymous Trust is not a transactional feature of a digital identity system between identity creators and identity subjects, but rather, it is an inbuilt part. Given the unprecedented impact of the COVID-19 pandemic on eCommerce volumes, the advent of remote/hybrid working and the demand for eGovernment services, digital identity’s tie with privacy and security has become much more visible. An ever-increasing number of fraudulent activities highlights the need to ensure customer security and protection of personal and businesses data for integrity of digital identity systems. Fraud and digital identities are closely intertwined, also because preventing fraud involves getting the right identity datapoints, understanding their significance and acting upon the related findings. Governments Will Ramp Up Their Digital Identity Efforts Government regulations and initiatives around digital identity are a vital force shaping the market landscape. Success of eGovernment services is largely dependent on a mechanism of identifying citizens/users in an assured manner, usually via striving to create trusted identities. Even prior to COVID-19, governments around the globe were employing digital identity-related initiatives in areas other than eGovernment services, such as border controls and telehealth. Compelled by the challenges faced in terms of cybersecurity and citizen trust in identity initiatives, governments will increasingly collaborate with third-party vendors to come up with solutions with better usability and security. Identity Verification Use Cases and Underlying Technologies Will Continue to Dominate the Market Verification is one of the key areas affecting the digital identity market, mostly owing to the catalyst power of the pandemic digitalising transactions across all industries and business verticals. The solutions and use cases of digital identity verification (ie, login, anti-fraud, and decentralised identity) are numerous, as secure and convenient customer onboarding has been at the forefront of any critical digital engagement. These use cases and underlying technologies, such as biometrics, lend themselves to different industries and verticals and so, they will continue to enjoy customer uptake for the foreseeable future. Read now: Juniper Research Digital Identity Competitor Leaderboard Related content: Defining digital identity on the back of the ‘big digital shift’ What is digital identity and why should we care?   Stay in the know with our latest research and insights:

During the week of International Womens' Day, we shine a spotlight on the women thought leaders across Global Decision Analytics.  In this Juniper Research interview, Kathleen Maley, VP of Analytics Product Management talks about the current state of data analytics, with the backdrop of Juniper Research's Future of Digital Awards and its recognition of AIS. Watch the video to discover: Current problems with data analytics Broad nature of activities of what is now defined as analytics Model development, model scoring, model regulatory control, model risk management and model deployment Where is data coming from - is it clean and do we understand it? Importance of humans in the development of algorithms Lack of data - where do we need to close gaps? How does looking at the past help with looking to the future - the importance of current/real-time data The expense of maintenance - tech stack - there are now alternatives Democratization of data - expanding credit access by using non-traditional sources of data Talent shortage of data scientists - low-code and no-code Extracting data value for businesses when data is ever-expanding Stay in the know with our latest research and insights:

Did you miss these February business headlines? We’ve compiled the top global news stories that you need to stay in-the-know on the latest hot topics and insights from our experts. Credit card fraud jumps to a five-year high The Mail Online covers why, according to Experian, cold-calling, text scams and crypto fraud will rise in 2022, while also pointing to a rise in fraudulent credit card applications, particularly during the busy Christmas period. The future of fraud: How digital dependency creates infinite opportunity for scammers In this Forbes article, David Armano writes about the futuristic nature of Experian's Future of Fraud Forecast for 2022, and why digital transformation has created new opportunities across the fraud landscape. Your digital impression is your first impression, here's how to make it count Inc.com looks at why your digital first impression is the new first impression, and what you can do about it. Read about the four areas to focus on to put your best foot forward digitally in 2022. The markets, Ukraine, cyberthreats, and supply risks In this episode of The Tape podcast, David Britton, Global Strategy for Identity & Fraud at Experian, talks about internet fraud and how it affects consumers and businesses. Fraud suspicions have a record high in 2021 in Brazil, says Serasa Last year Brazil had 4.1 million transactions suspected of fraud, according to the Serasa Experian Fraud Index. Read about what type of fraud threats are included, and what 2022 might look like across the fraud landscape. Stay in the know with our latest research and insights:

The pandemic may have accelerated digital transformation across the world of financial services , but behind the scenes, banks and lenders still face a significant tech debt, and many organizations are committed to continuing the innovation. That's for good reason. Today's consumers increasingly expect a digital-first customer experience. The days of visiting a local bank branch to access financial services and products are fading away. Fintechs have risen to the occasion, transforming the market and meeting the growing digital demand. For traditional banks and lenders, waiting to innovate is no longer an option—it's a must to remain competitive. So what comes next? Here's a look at the technology trends that stand to impact and transform financial services as we advance. 1. The rapid rise of low-code/no-code solutions According to a recent survey from TechRepublic1, nearly half of companies are already using low-code/no-code solutions (LCNC). The same report also notes that among companies not using LCNC solutions, one in five plans to begin within the year. The driving force behind this trend is the global shortage of digital skills, from software development to data analytics to information security. The pool of technical talent has long been smaller than the demand, and the Great Resignation has only exacerbated the problem. For instance, 75% of software developers2 report they're currently looking for other jobs. Amidst this ongoing talent shortage, there's another stressor—the need to deploy technology products to market faster and faster. LCNC solutions answer these challenges by making doing so easier and quicker. The technology democratizes software development, allowing business users—or citizen developers—in different functions to design and deploy applications. With the skills gap likely to continue, the interest in LCNC solutions will too. LCNC solutions enable financial institutions to keep pace with technology changes and meet the digital demand, even with limited technical resources. 2. Leveraging data will require adding value—and engendering trust Financial service organizations have used advanced data analytics to provide consumers with more personalized products. And consumers have been on board as long as they see the benefit. For example, a 2021 consumer survey by Experian showed that 42% of consumers would share personal data, and 56% would share contact information, if it improves their experience. However, this research speaks to growing tension between consumers and financial service providers. The first want more personalized services, but they are also more selective about which companies they share data with. Consider a recent McKinsey study that revealed that 44% of consumers don't fully trust digital services3. As we advance, organizations that want to build and keep consumer trust will need to be thoughtful about the data they ask for and increasingly transparent about how they plan to use it. 3. Doubling down on AI but looking for ROI in the process AI has proven helpful in multiple ways, from powering recommendation engines and chatbots within the retail world to improving fraud analysis and prevention in the banking industry. But there's still so much more organizations can do, especially with the AI they already have. Financial service and fintech companies have funneled massive resources into AI solutions. However, only 20% of AI models4 are ever used in widespread deployment. What’s more, the current average return on AI investments hovers around 1%. This year, expect to see more organizations examining the ROI of AI-powered technology and looking to get more from the investments they've made. Technology partners can help by identifying additional opportunities for AI models to drive customer engagement, validate credit scoring, and protect businesses against fraud. 4. Banking-as-a-Service will yield even more choices and more competition There have long been high barriers that protect traditional financial service organizations from much new competition. But the advent of open APIs and Banking-as-a-Service (BaaS) is knocking these barriers down, yielding a considerable influx of startups that provide banking-like services. And this wave of new fintech has captured consumer interest. Consumers have shown that they’re willing to try financial service products from an array of providers; they're not married to sticking with traditional banks. In fact, 27% of global consumers5 have relationships with neobanks, and 40% report using financial apps6 outside of their primary banking app. However, the gold rush towards BaaS will yield a few winners and a lot of losers. The question for the near-term is who will survive in this crowded market. Consumers will also begin to figure out what makes sense in terms of how many financial organizations they want to connect with and when to say enough is enough. 5. Embedded finance is the new black in retail In a similar theme, the influx of embedded finance products into retail experiences continues to gain traction. There's only more to come. Multiple leading retailers, both longstanding and new D2C brands, have incorporated Buy Now Pay Later (BNPL) payment options into their checkout process, and shoppers are rapidly adopting these new payment methods. One-third of consumers report they've used BNPL before7. Though the payment method still lags far behind other forms of credit, awareness of BNPL and other embedded finance solutions is rising, especially among younger consumers. Looking forward, expect to see embedded finance make inroads not only with more retailers but also across other industries such as hospitality or entertainment. These pressing tech trends are reshaping financial services. In the process, they're bringing new solutions to consumers and new opportunities to banks and non-traditional lenders. Organizations that keep pace with these trends will lay the foundation for their next generation of customers as well as the future of their business. More 2022 trends and predictions Stay in the know with our latest research and insights: 1.TechRepublic Survey: Low-code and no-code platform usage increases 2.Stack Overflow: The Great Resignation is here. What does that mean for developers? 3.McKinsey: Are you losing your digital customers? 4.ESI ThoughtLab: Driving ROI through AI 5.EY: How can banks transform for a new generation of customers? 6.Axway: Consumers are starting to sense an open banking transformation 7.PYMNTS.com: No slowdown in sight for surging BNPL as consumers want it, retailers need it

Steve Wagner, Managing Director, Global Decision Analytics on Redesigning the future of consumer lending with data and analytics. Find Steve Wagner's interview in Raconteur's Future of data report to discover what businesses need to do to succeed in an increasingly digital world. “The good thing is that technology and data now allow businesses to put the customer journey at the heart of what they’re doing. With the advanced technologies available today, businesses can access relevant data and deliver on customer expectations in their moment of need. Whether it’s access to a loan or mortgage, or to consolidate debts, a real-time view of the consumer is possible.” Read the full article and find out about: Why the digital customer experience, enabled by both data and analytics, is the new battleground for many industries. Consumers reporting they were online 25% more in 2021 compared to a year before. Online retail sales saw four years of growth in just 12 months during the Covid pandemic. Demand for frictionless journeys through biometrics or multimodal authentication mean customers can see the value exchange in sharing personal data. Behavioural biometrics is the next frontier in tackling fraud and providing a seamless customer journey. Technology is allowing us to analyse far more data sources in real time, providing a comprehensive picture of an individual. Open Banking and the democratisation of data are part of the progressive change around data. Importance of extracting the insight lenders and fintech providers need to implement the best customer journey and make the best decisions. Businesses can make credit-risk decisions using automation and advanced analytics. This will lead to more opportunities for credit and better financial inclusion. Harnessing the power of 'insight everywhere' for better knowledge bases. "The application of advanced analytics, artificial intelligence and machine learning is allowing businesses to tailor their services to an audience of one - at scale." Stay in the know with our latest research and insights: