the digital battleground - protecting the customer experience in the midst of rising fraud threats

PROTECTING THE CUSTOMER EXPERIENCE IN THE MIDST OF RISING FRAUD THREATS

Jeff Price, Managing Director, Southeast Asia, Experian

Albert van Wyk, Head of Fraud & Identity, Experian A/NZ

Today’s webcast will run approximately 30 minutes followed by a Q&A session.

Please enter your questions in the “Question” pane on your control panel during the webcast.”

© 2015 Experian Information Solutions, Inc. All rights reserved. Experian.

PREVENTING FRAUD WITHOUT COMPROMISING CUSTOMER EXPERIENCE


DATA BREACHES NO LONGER NEWS THEY ARE THE NORMAL

2013

2012

NOW

Y E AR

145,000,000

152,000,000 70,000,000

24,000,000 20,000,000

860,000 1,000,000

1,000,000

250,000 16,000

240,000 110,000

100,000

100,000

2,000,000

160,000

500,000

450,000

4,700,000

50,000,000 50,000,000 22,000,000

8,700,000

6,000,000

170,000

1,800,000

4,000,000

2014

World’s Biggest

Data Breaches Selected losses greater than

30,000 records

Accidentally published hacked lost/stolen Source: June 2014 Design & Concept: David Mccandless; Research: Miriam Quick, Ella

Hollowood, Christian Miles, Dan Hampson; Sources: Idtheftcentre, Databreaches.Net,

News Reports Data: Bit.Ly/Bigdataleaks

* Source: Identity Theft Resource Center 2014 Data Breach Report, December 31, 2014.


The Asia Pacific region is

2X

Highest demand for

Fraud & Identity solutions

Sharp differences by region

in the underlying causes

2x

APAC FRAUD RISK IS CONSISTENTLY HIGH

Manual processes

Increase in

digital / mobile

transactions

more likely to be

targeted by advanced

cyber attacks than the world

as a whole. (FireEye, June 2014)


On average it takes 16 days for individuals to become aware of their identities being compromised

Most frequently used passwords – include 123456

More than 75% of all mobile apps fail basic security tests


THE BUSINESS CHALLENGE INCREASING COMPLEXITY, RISK AND COST

• Cybercrime

• Targeting of operational inconsistency

• Prevailing economic climate

• Digital customer relationships

• Customer expectations

• Cross border activity

• Increased Regulation

• Increasing fraud losses

• Increasing operational costs

• Lost sales revenue

Increased RISK

of Fraud

Increased COMPLEXITY

of Business

Increasing TOTAL COST

of Fraud + =


EVERY FRAUD SOLUTION HAS A SHELF LIFE

Time

Effe

ctiveness

New

technology

Mass

adoption

Fraudsters

figure out

workaround

Common

knowledge

among fraudsters

It’s an Arms Race

© 2015 Experian Information Solutions, Inc. All rights reserved. Experian. 8

THE UNFORTUNATE REALITY

Stronger Fraud Security

Weaker Customer

Experience

Weaker Fraud

Security

Stronger Customer

Experience

z


z

Stronger Fraud Security Better Customer Experience

NO NEED TO SACRIFICE

CUSTOMER EXPERIENCE

P R I V A C Y S E C U R I T Y C O M P L I A N C E R E P U T A T I O N C U S T O M E R

L O Y A L T Y

C O N V E N I E N C E

& E F F I C I E N C Y

COMPLETE CUSTOMER INTELLIGENCE MAKES THE DIFFERENCE


EXPERIAN OFFERS A

STRONG LINE OF DEFENCE

Credit,

Transaction,

Demographic,

Location,

Biometric, etc.

TRUSTINSIGHT

FRAUDNET

Application

Fraud

HUNTER

PRECISE ID

PRECISE ID

PROVE ID

Identity

Authentication

Identity-

as-a-

Service Real-time

Consumer

Alerts

Digital Identity, Risk

Scoring

Online & Mobile Fraud

New account opening

Account takeover

Online and mobile fraud

Card-not-present fraud


LAYERED SECURITY MODEL

Detection

Security

Intelligence

A MORE HOLISTIC SOLUTION


Detect more fraud and enable a frictionless experience

at every stage of customer journey.

FRICTIONLESS PROTECTION THROUGHOUT THE ENTIRE CUSTOMER JOURNEY

TRANSACTIONS

ACCOUNT

ACCESS

CUSTOMER

ACQUISITION

ACCOUNT

ORIGINATION

ACCOUNT

LOGIN


FRICTIONLESS PROTECTION THROUGHOUT THE ENTIRE CUSTOMER JOURNEY


QUESTION AND

ANSWER SESSION


If you have any other questions, please

email us at [email protected]

Thank You

for joining the Webinar.

mailto:[email protected]

the digital battleground - protecting the customer experience in the midst of rising fraud threats

Data & Analytics