To learn more about a FFIEC Guidelines Consulting Review, complete this form to help determine whether your bank will benefit from a consulting review session.
First-party fraud, defined as fraud that occurs when consumers apply for credit with no intention of repaying funds, represents as much as 25% of total U.S. consumer credit card charge-offs, and continues to outpace third-party fraud, such as that associated with data breaches and card skimming.
Our goal is to provide specific recommendations to modify existing processes in order to close the gap between current processes and the FFIEC’s expectations. Our consultants work with clients to assess current strategies, workflow design and operational effectiveness. We will help refine your existing fraud and identity management processes to ensure that your organization meets the FFIEC’s expectations by:
Authentication process review: Assesses how you handle OOW authentication for new and existing customers across all contact channels, including call center and Internet interactions.
Question “strength” analysis: Reviews the question strategy used when authenticating an individual.
Authentication cost analysis: Ensures you are using the most cost-effective approach to authenticate your customers.
Reporting analysis: Reviews your authentication reporting strategy to determine how well it monitors and assesses the effectiveness of your authentication process.
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