What keeps fraud executives awake at night? The short answer is, a lot. A 2020 PWC global fraud survey puts the price tag of all fraud —internal (employees) and external (customers, hackers and third-parties) — at a stunning $42 billion.
It’s a battle to the bottom line, no doubt, and while it may sound like fraudsters are winning, businesses are reloading their weapons and adjusting strategies with next-gen identity and fraud risk models. They’re integrating multisource data with advanced Artificial Intelligence (AI) technology and modeling techniques to establish a level of trust in every online identity, a concept called “identity trust.” By assigning identity trust in real-time, at every digital touchpoint, organizations can verify the identity behind online transactions, account creations and logins, in split seconds.
This