Winning the battle and the war
Discover the crucial link between fraud prevention and CX
In this free report from 451 Research, you’ll discover:
- New and emerging types of fraud across the customer journey
- How to break down organizational, experiential, and technology silos
- How to balance fraud management and CX, especially when 80% of merchants say their fraud prevention measures make it challenging
Download your free report from 451 Research
Understand the balancing act between fraud prevention and CX
False Declines
New Users, Missed Opportunity
The continued increase in digital sales has drawn new battle lines for enterprises, requiring them to juggle fraud prevention with improving customer experience (CX). New research shows an alarming trend: legitimate customers are increasingly being falsely declined for purchases they’re attempting to make. In fact, new online shoppers are declined at a rate that is 5-7x greater than returning customers.
Research findings
The Greater CX Challenge
451 Research finds that in just a six-month period:
- Two-thirds of all legitimate shoppers who were falsely declined did not purchase the item at all – or did so from a competing vendor
- Millennial shoppers, a high-growth demographic, tend to be the most impacted by false declines
- False declines are just a part of the problem – inefficient shopping experiences such as restrictive promotion/returns policies and limited international expansion are also significant challenges
"Enterprises must reimagine their fraud prevention strategies as a framework for removing excess friction for loyal customers with the goal of deepening relationships through personalized customer journeys."
Jordan McKee
Principal Research Analyst, 451 Research
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Gail Banim
Director, eCommerce
Doug Ferreira
Director, Finance and Operations
Brian White
Director, Customer Experience
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