Reduce Fraud Losses. Exceed Customer Expectations.

Customer experience is paramount in the credit card issuance industry. As part of the customer’s overall brand experience, new standards have emerged for frictionless, instant access to sites and mobile apps. Yet this experience needs to be balanced against the realities of organized fraud, and new regulatory mandates for stronger customer authentication. iovation provides credit issuers the solutions that satisfy the competing demands of catching fraud, authenticating good customers and providing an outstanding user experience.

Types of Credit Issuers That Use iovation

  • Credit card issuers
  • Retail banks
  • Commercial banks
  • Short-term lending
  • Payment processors
  • Money services

Create an Outstanding Experience and Shut Down Fraud
Customer authentication and fraud prevention solutions for credit issuers.

The financial services market has seen a massive digital disruption in the last decade that has been especially impactful for online credit issuers. Over 5,000 new financial technology companies have elevated market competition. Compressed timeframes for processing transactions and applications mean that credit issuers only have seconds to detect and stop cybercriminals.

According to the 2017 Nilson Report:

  • Total card fraud losses reached $22.8 billion in 2016.
  • The U.S. accounts for $9 billion or 39.5% of worldwide card fraud losses.
  • Card issuers worldwide experienced $16.13 billion or 70.7% of gross fraud losses.
  • Merchants, their acquirers and ATM acquirers suffered the remaining $6.67 billion in fraud losses.
  • Enhancing usability, even as prices and margins decline.

Do you feel like fraudsters find workarounds to every fraud-fighting technique you try? Then you need resources that will evolve with new trends and fraud vectors: smart tools, machine learning and crowd-sourced intelligence. And as always, this needs to balance with what your customers want

Your challenges:

  • Improve the login experience without sacrificing security
  • Stop CNP fraud without hurting your good customers
  • Authenticate customers while stopping account takeover
  • Fight fraud and abuse across ever-changing vectors
  • New accounts are your lifeblood, but a doorway to fraud
  • Different risks exist at each part of the customer journey

Download the full Industry Brief to learn how iovation can help you combat these challenges without adding customer friction.