Banks and credit unions are in a constant battle to fight fraud, having to employ ever-more creative strategies to address fraud incidents that continue to increase in sophistication and scope. But, they face these challenges in concert with the needs of their customers, who expect a banking experience that is not only secure, but without major hurdles that impede account access or cause slow transaction times.
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So, how can banking institutions provide a customer experience that is both safe and fairly seamless? American Banker recently surveyed bank and credit unions about this business critical topic and the learnings from this endeavor are highlighted in this research report, including:
- The current state of fraud in the banking industry
- Tactics banks are using to fight fraud
- How fraud prevention visits within broader customer experience goals
- Strategies banks are using to balance fraud mitigation with CX