Balancing Fraud Prevention, User ExperienceMike Slaugh of USAA Discusses Effective Strategies
COVID-19 has accelerated the shift to digital banking. Now financial organizations must balance robust fraud prevention with a frictionless user experience, says Mike Slaugh, executive director of financial crimes management at USAA.
"Moving forward into 2021, we at USAA and within the industry are making pretty significant investments into getting ... multifactor authentication deployed to as many people as we can, but making it as easy as possible," Slaugh says. "Ultimately, we want people to be authenticating, but not realize that they're authenticating, because there are so many signals that we can pick up that will tell us that we're really speaking to a customer versus a fraudster."
In a video interview with Information Security Media Group, Slaugh discuss:
- Fraud schemes prevalent during the pandemic;
- New initiatives around behavioral biometrics for authentication;
- Future threats from increasingly sophisticated phishing campaigns.
Slaugh, executive director of financial crimes management at USAA, has 15 years' experience in providing support to enterprise security functions, including physical security, information security, risk management, cyber supply chain management and member authentication.