Retailers want happy customers, and happy customers are ones who have minimal friction in their buying experiences.
Companies still relying primarily on knowledge-based authentication (KBA) and personally identifiable information (PII) to assess fraud risk, however, are less likely to achieve that goal. Not only are KBA answers easy for fraudsters to find and exploit, but the process also interrogates a consumer about their own identity, which many find intrusive and alienating. Instead, these retailers could be using behavioral-related data to minimize false positives while reducing the time spent validating new accounts and credit card transactions.
Download this Retail Dive Playbook, Identifying Devices to Prevent Retail Fraud, to learn how more precise fraud detection and less time spent on interrogating identity helps create the frictionless experience customers want.