Aspect Verify - Preventing Fraud While Building Customer Trust

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Total number of transactions secured

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Value of transactions protected from fraud

Reduce Fraud While Building Trust with Your Customers

Financial institutions adopting a customer centric business model are aiming to provide the best possible consumer experiences. This change in focus requires businesses to continuously find innovative ways to fulfill – even exceed – customer needs; providing rewards to ensure brand loyalty and trust. Unfortunately, fraud often compromises these efforts and damages consumer trust. Financial institutions must find better ways to manage and resolve fraudulent activity at the convenience of the customer. Organizations able to do this will excel in the market and ensure a positive customer perception and experience of their brand.

New Channels Pose New Threats

As new interaction channels of consumer engagement gain popularity, the accumulation of micro customer experiences becomes more complicated to manage and keep secure. Banks are continuing to see an increase in online activity – with some seeing their numbers double in the past two years. This significant rise in online engagement has made the customer more susceptible to fraud.

Internet Security

How Aspect® Verify Can Help

Businesses face the challenge of maintaining consumer trust when sending sensitive information while providing the best, most convenient customer service experience possible. Aspect Verify addresses these concerns invisibly within a non-intrusive mature cloud infrastructure.

Aspect Verify helps businesses better understand customer behaviour and ensures no sensitive communications, such as the delivery of one-time passcodes, have been compromised. Aspect Verify uses a variety of metrics focused on three key areas:

  • Know your Customer
  • Behavioural understanding
  • Transactional insight

Insight is generated from transactions, customer engagement and mobile network level data. The data is captured independently of applications and is thus less susceptible to compromise.

The flexibility inherent within Aspect Verify allows for easy integration with any risk engine. Additionally, the platform is designed to be easily deployed into any business infrastructure and process. Aspect Verify is channel agnostic, with a focus on the phone number in use and associated potential compromise.

SEE ASPECT IN ACTION

FEATURED RESOURCES

What is Fraud Detection?

At a time when online fraud is on the rise, mobile is the ultimate “possession factor”, and the most relevant form of identification. Mobile fraud detection leverages consumer behavior data, device location, and voice biometrics to determine if fraud has occurred. Because fraud detection happens leverages backend server processes it is not intrusive to the consumer unless there is suspicious activity.