Fraud Prevention: A High-Stakes Customer Experience Battleground
451 Research Report
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 created when legitimate customers are falsely declined for purchases they’re attempting to make. In just a six-month period, almost half of legitimate shoppers who were falsely declined ultimately abandoned online shopping carts, with two-thirds of those customers not purchasing the item at all – or doing so from a competing vendor.
Download the report from 451 Research to better understand the balancing act between fraud prevention and CX, including:
- The types of fraud proliferating across the customer journey, from online account creation through product returns
- Why enterprises need to create a fraud prevention approach that breaks down the organizational, experiential, and technology silos that exist at touchpoints across the customer journey
- How to balance between fraud management and CX, especially considering that 80% of merchants say their fraud prevention measures make it challenging to do so
- The key tenets to operationally optimized fraud prevention, which requires a balance between enhancing customer experience, reducing financial impact and accelerating growth