Chartis Insights: Keeping Fraudsters Out and Onboarding Costs Low

1 in 4 Banks Fear New Account Fraud Losses

How can banks and financial institutions be sure they are onboarding trustworthy customers when they often never meet the customer in person?

A recent global survey by Feedzai, in partnership with analytics research firm Chartis, reveals increasing concerns about new account fraud. The report includes critical insights into how new account fraud impacts banks and financial institutions, including:

• 25% of financial institutions fear new account fraud losses.
• Banks risk significant revenue losses each year because of negative customer experiences.
• 60%+ of banks expressed concern about bot-driven account opening attacks, underscoring the need for robust fraud detection and prevention measures.

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