What is "digital trust" and why does it matter?
The threat of financial crime is ever-present. Fraud costs nearly $500 billion last year and staying ahead of criminals is a major challenge. To identify risks, protect customers and maintain compliance, financial institutions need robust cyber security measures and efficient onboarding processes, so you can act appropriately based on timely, complete and accurate information.
Five key takeaways to build digital trust
Gain a competitive edge by building a robust digital trust framework.
1. Digital trust refers to an organization’s activities to provide:
- Security
- Accountability
- Risk Managements
- Identity
- Privacy and data integrity
A safe environment for customers’ digital interactions by protecting users against suspicious account creation, unauthorized access and fraud and delivering a secure way to execute transactions.
2. Sharpening your anti-fraud edge with tech solutions that can screen individuals for risk by verifying IDs using biometrics and flagging suspicious activity.
3. Intelligent investigations. Avoid getting ‘false positives‘ by mainstream online search tools. Gain time by using tools that search public records or monitor sanction lists and media coverage.
4. The power of data. 15 million people were victims of fraud last year. Make sure your customers are not among these victims of fraud by sorting and prioritizing data, tracking trends, and uncovering patterns.
5. Stay vigilant. Create a clear picture of a subject with all the puzzle pieces in place. Adapt your search tools to crime trends and regulatory changes to remain.
Read our latest white paper, Building digital trust into your onboarding tech stack, to discover key strategies and tools for enhancing digital trust.
Start transforming your onboarding journey today.
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