Webinar: Developing a Strong Digital Fraud Detection Strategy in 2023by Fintech News Singapore March 10, 2023
With over 41% of the top 100 global fintech innovators originating with the region, it comes as no surprise that APAC is home to the highest growing fintech industry in the world.
Unfortunately, with this proliferation and growth comes a significant surge in fraud. In 2022 alone, one in four APAC consumers fell victim to fraud – and that figure is even higher in South East Asia (SEA), with one in three consumers reporting online fraud.
Worse still, according to the Global Banking Fraud Survey, over half of respondents recover less than 25% of their fraud losses.
Protection against fintech fraud must be viewed as a form of corporate social responsibility amongst financial service providers.
Customers demand seamless onboarding and secure transactions; any hint of unnecessary friction will send them packing.
A strong digital fraud detection strategy demands striking a balance; innovative, intuitive, multi-layered technology that rewards good customers with a streamlined experience, while flagging high-risk sign-ups.
Thankfully, there are partners on hand to help. Data deployment platform Demyst and global identity insights solution provider Ekata, a Mastercard company, recently hosted a webinar outlining the challenges the financial services industry face in protecting itself against fraud in a time of ever-evolving social and economic upheaval.
Discover what Ekata’s VP in APAC, Nicholas Stipp, and Scott Albin, International and Chief Strategy Officer, Demyst have to say about mitigating account take over, phishing attacks, synthetic identity fraud, syndicate fraud and more.
Hint? It’s all about automating your verification workflows to quickly (and accurately) validate digital identities. Better still, get the low-down on how to better know your attacker; their tactics, their techniques, and their weaknesses.