Early Warning Blog

Julie Conroy, Aite Group

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A Perfect Storm of Identity Fraud is On the Horizon

Posted by Julie Conroy, Aite Group on May 23, 2016

New account acquisition is an increasingly challenging proposition for financial institutions (FIs) of all sizes. Opportunities for new account fraud are further exacerbated by the growing number of digital-native millennials, or consumers that prefer to conduct commerce in the online and mobile channels. Additionally, Dodd-Frank dramatically changed the economics of retail banking in the United States, while the Consumer Financial Protection Bureau (CFPB) is intensely scrutinizing new account risk assessment practices, pushing FIs toward greater financial inclusion.

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Topics: Authentication, Identity