Skip to Content
Financial Services icon

Is The Cost of Fraud
Taking Over Your Bank?

In financial services, you're the primary target for online criminals. Fraudsters know you're a money source. All they want is to get rich quick. They depend on swiftly bypassing your security, converting their false credit or stolen funds, and then covering their trail before you figure out what happened.

When they make it through, the cost of fraud is two-fold. First there are the hard losses that hurt your bottom line, which can vary by type of transaction, such as ATM, credit card, or wire fraud—typically the most costly. Second is the combined cost of case investigation, customer phone support, lost customers, and damage to your bank's reputation.

By adding device-based intelligence to the fraud detection process, global financial institutions have reduced fraud by millions of dollars.

Reduce Customer Identity Fraud 

If you are first hearing about fraudulent account activity directly from your customers, you are too late to the game. What if you could pinpoint fraudulent activity in real-time, before customer accounts and identities are compromised?

iovation's risk service works behind the scenes to reduce customer identity fraud, reduce exposure to PII-related incidents, and reduce the amount of conversations you have with regulators.