New Digital Account Openings Expose New Fraud Risks

Account opening is arguably the most high-stakes phase of an FI’s overall fraud prevention strategy. If a bad actor evades detection and becomes a new customer, it opens the door to a variety of downstream threats—including account abuse, first-party fraud and third-party fraud.

As FIs look to modernize their account opening systems, many struggle to balance three seemingly competing priorities:

• Strengthening fraud risk controls
• Offering seamless customer experiences
• Promoting business growth

In this white paper, we explore how real-time predictive intelligence tools can help FIs quickly and accurately assess an applicant's risk without disrupting the customer experience.