In this age of digital transformation, companies that support web or app-based customer accounts are vulnerable to fraud from fake accounts or unauthorized account sharing. According to IBM’s 2022 Cost of a Data Breach report, the average data breach in the U.S. costs $9.4 million, while the global cost average is $4.3 million.
In this study, Telesign and Futurum provide actionable insights for Product, Technology, and Fraud Prevention leaders to avoid becoming a statistic by:
- Overcoming the most significant challenges organizations face to prevent fraud, retain customer account security, and protect brand reputation;
- Balancing friction with security, and fostering customer trust with a safe and seamless UX;
- Leveraging scalable and global solutions to secure new customer onboarding, prevent account takeover, and mitigate the costs associated with fraud and prevention;
- Gleaning information from Fiverr’s experience turning to Telesign to deploy various account security solutions like phone verification and two factor authentication;