One-time passcodes (OTPs) are no longer effective against today’s AI-augmented fraud attacks. What’s more, the user experience with outdated authentication is frustrating for customers. At the Datos Insights Financial Crime and Cybersecurity Forum, our Chief Strategy Officer, Dewald Nolte, discusses the role of modern authentication and customer choice in the customer journey.
Key takeaways:
- How fraud seems to evolve faster than fraud prevention tools
- Why FIs need a unified authentication solution to mitigate evolving fraud threats
- The benefits of utilizing a consumer’s preferred authentication mechanism
- The problem with OTPs in today’s fraud landscape
Further resources: