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The Evolving Terrain Of Fighting Fraud

The Evolving Terrain Of Fighting Fraud

Intro: Consumers undeniably want all of their transactions faster – and there is a penalty to be paid for making them wait. But fast is no substitute for safe, which means the future of speed is really all about authentication on the quick. Artificial intelligence and machine learning can do a lot of that heavy lifting, if operators are using the real deal and not something merely AI-ish.

Data:

5 billion: Number of people for which Trulioo’s GlobalGateway enables verification checks

95: Share of people in the U.S. with phone numbers

60 percent: Share of fraud experts who believe AI systems lack transparency

53 percent: Share of website visitors that will leave if a site takes more than three seconds to load

5.5 percent: Share of FIs that leverage true AI-based anti-fraud systems

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