The 2019 iovation Financial Services Fraud and Consumer Trust Report provides an in-depth analysis of the trends transforming the Financial Services industry in 2019 and explores how businesses can stay relevant and profitable in 2020.
Included are key findings from 5.9 billion financial services transactions protected by iovation, 1,604 consumer interviews both in the U.S. and the U.K. and the impact of fraud on consumers’ perceptions and buying decisions.
In this report, we address three market drivers in financial services:
- Consumer trust is a competitive differentiator: 39% of consumers surveyed have closed a financial services account due to security and fraud concerns. Meanwhile, 76% report the most important factor when choosing a financial services account is security and privacy.
- Fraud is going mobile, mirroring consumer behavior: In the first half of 2019, iovation saw 50% of risky transactions originating from mobile devices, up from 41% in 2018, and 21% in 2017.
- Customer satisfaction is driven by the mobile platforms: Of the consumers surveyed, 60% were deterred from opening an account via a mobile device because of the hassle and slowness of filling in the application forms.
Register today for this exclusive new report.
To learn more about how businesses can stay relevant and profitable in 2020, register for our 2019 iovation Financial Services Fraud and Consumer Trust Report Highlights webinar on November 21st.