eBook
Published September 24, 2024
Banks Fraud Management
How to deploy a multi-layered approach with a holistic consumer view to stay ahead of evolving fraud.
According to Experian’s latest research, the top three anticipated operational challenges businesses expect to struggle with when it comes to fraud are Cybercrime (45%), Generative AI fraud, and/or Deep Fakes (41%), followed by Peer-to-Peer (P2P) (40%), payment scams, which GenAI increasingly enables.
Read the eBook for other key insights including:
- The GenAI market is forecast to grow to $1.3 trillion over the next decade.
- Annual charge-off losses in the US alone tied to synthetics could be close to $11 billion.
- Banks have experienced a 66.8% increase in social engineering attacks over the past two years.
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Case Study
Terrace Finance Behavioral Analytics
Terrace Finance sought out a solution to stay ahead of evolving fraud attacks. They landed on NeuroID’s behavioral analytics — and gained immediate, pre-submit visibility that upgraded their fraud prevention strategy.
Key Results:
- 50+ reduction in manual reviews
- Reduced fraud for lending partners by over 50%
- $250K in potential losses prevented in a single attack
Report
The Future of Underwriting: A Vision for 2030
Experian surveyed product, fraud and credit risk leaders across 10 countries to understand where underwriting is headed. The takeaway is clear: it’s evolving to be frictionless, embedded and nearly instant.
In this report, you’ll discover:
- How credit underwriting is expected to evolve by 2030
- The primary forces driving these changes
- Key takeaways to help your business lead into the next decade
Webinar
The Future of Underwriting: Rethink, Rebuild, Redefine
Discover the transformative trends reshaping the future of underwriting, from agentic AI to alternative credit data.
A few spoilers:
- 80% of leaders will leverage alternative data vs. traditional data by 2030.
- 62% see fraud prevention as one of the key reasons for alternative data adoption
- More than 61% anticipate that scoring, decisioning and data collection will be outsourced by 2030.
Infographic
Credit decisioning journey
Financial institutions face several challenges during the credit decisioning process, such as poor data quality, scalability issues, data fragmentation, and high maintenance costs. Experian can help lending institutions enhance their credit decisioning journey at every step, through:
- Model development
- Model deployment
- Decisioning
- Fraud analysis
Discover how your organization can take your credit decisioning journey to the next level with the Experian Ascend Platform™.