Overly rigid fraud detection and prevention measures may result in more false declines and a subpar shopping experience.
It’s always been about that fine balance between convenience and security. Too much convenience could endanger your customers in terms of the ease of identity theft and fraudulent charges; too little convenience resulting from overly rigid fraud prevention measures would drive them away due to less-than-satisfactory customer experience.
AI technology can help reduce friction for your customers while improving fraud detection accuracy. Check out this infographic to find out more about the impact of accurate AI-based fraud detection on customer experience and revenue.