Like many financial institutions in the U.S., this bank faced significant challenges combating card-not-present (CNP) fraud in the e-commerce space. Their 3-D Secure (3DS) solution at the time lacked the flexibility and insights required to reduce friction and make smarter authentication decisions. As a result, the process was less efficient, impacting both customer satisfaction and fraud prevention.
“We weren't using an outdated tool or anything like that. We were using a pretty major tool previously for 3DS, but again, were still strapped to those classic constraints and insights that we just didn't have,” said the bank's VP Financial Crime, Fraud Strategy.
They needed a solution that could provide strong security without adding excessive friction, which often led to cart abandonment and customer dissatisfaction. Finding a new solution that could address the following challenges became a strategic priority: