Consumers want to use both digital and physical channels to manage their finances and meet their goals, and while digital technology combined with self-service gives consumers choice, convenience, and empowerment -- three things they highly value -- it exacerbates issues with customer identification and verification and increases fraud risk when transacting business.
To counter this, financial institutions must have a complete strategy to serve these needs and address the risk exposure of doing so by blending the right technology innovation, risk foundation, and relevant operational functionality to align with customer experience and service. A complete strategy must also encompass digital and physical channels to provide an omni channel customer‑centric delivery strategy integrated with customer authentication and fraud prevention.
Some capabilities an omni channel solution should provide for customer authentication and fraud prevention include:
Banks and credit unions can benefit from these functions with the use of ARGO Connects, a customer journey‑centric solution for acquiring customers, nurturing and converting leads, ongoing customer engagement, fulfilling accounts, retaining, growing, and servicing for consumer and business customers in an Omni-delivery ecosystem.
For more information, view ARGO Connects, Omni Channel Fulfillment interview document.