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With the average loss of a single fraudulent “new” onlinebank account in the U.S. approaching a couple thousand dollars, and each incident of eCommerce fraud costing merchants several hundred dollars, now is the time to wonder if the traditional methods of consumerauthentication are pulling the weight that they once did.
That was the crux of a recent digital discussion Karen Webster had with Ken Allen, SVP of operations at Socure , when the two dug into one increasingly evolving, complex topic that’s driving the future of payments and financial services: authenticating the consumer. Device: Tokenized (IoT, cloud), web/mobile, POS.
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