Fraud has become an ever-increasing menace to banks and their customers, costing billions of dollars each year. The current pandemic aggravates the situation as fraudsters are quick to jump on a banks’ vulnerability in a crisis. While there was a reported 400 per cent jump in Covid-19 related frauds in the UK alone between February and March 2020, the overall cost of bank fraud in the form of social engineering attacks, scams, fake invoices, and online banking access is estimated to reach as high as $2tn a year.

The question is: How can banks become more resilient and protect their customers without disrupting the customer experience and trust relationship?

In this webinar, we’ll discuss the latest fraud prevention trends and highlight how, through the use of a composable architecture, banks are enabling smarter AI technology to address fraud effectively.