The availability and opportunities for customers to conduct business through mobile devices continues to multiply, challenging organizations to protect customers without impacting their experience. Our infographic highlights five challenges of customer authentication that businesses face and what customers feel in an increasingly mobile world.
- Personally Identifiable Information (PII) is more available, but less reliable, than ever before.
- 35% performance improvement using models built with attributes beyond simple identity element validation.
- More transactions are taking place in an omnichannel environment.
- 36% of organizations interact with their customer in five or more channels.
- Diversity of devices and technology complicates customer authentication.
- 85% of consumers use online or mobile to conduct business.
- 17% of consumers reported having an online transaction declined when device information was not available.
- Increased online transactions have multiplied fraud opportunities, resulting in more false positives.
- Of those surveyed who have had Card Not Present (CNP) transactions declined:
- 31% blame the merchant
- 38% blame the credit card network
- 83% felt embarassed or angry
- Of those surveyed who have had Card Not Present (CNP) transactions declined:
- Stringent requirements change the way organizations interact with customers.
- 80% expect the focus on managing regulatory risk to be more than it is today
Download our fraud prevention perspective paper to gain more insight on how you can prepare your business.
