Boston, December 11, 2018 – Application fraud continues to be a significant problem for financial institutions across the U.S. As identity crimes continue to grow, it is increasingly difficult for FIs to determine who they are dealing with in all delivery channels. These identity crimes are influencing a number of strategies and resulting in FIs planning to make new technology investments to meet both compliance (Know Your Customer) and fraud challenges.
This Impact Report delves into how FIs are combating application fraud and how that will evolve. Aite Group conducted research using an online survey of executives from 30 U.S. FIs from March 2018 to June 2018 to better understand application fraud for both demand deposit accounts and credit cards.
This 36-page Impact Report contains 26 figures and seven tables. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.