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Financial Firms Are ‘Comfortable’ Footing Fraud Bill
Nearly three-quarters of financial services firms are currently ‘comfortable’ absorbing the cost of fraud, according to new findings taken from The Future of Global Identity Verification research report from Entrust and Docusign.
This is unsustainable, particularly when the ‘cost’ of fraud does not relate to financial losses alone. Most banks (57%) and financial services firms (56%) report that fraud is harming brand value, while 54% of banks and 59% of financial services firms say it’s also damaging customer retention.
To prevent the rising instances of fraud, Entrust provides a complete Identity Security portfolio to prevent rising fraud across the entire lifecycle, by combining identity verification, authentication and digital signing.
The CX Cost of Fighting Fraud
In addition to rising fraud rates, financial institutions are balancing fraud prevention with delivering a seamless customer experience (CX). The research finds that 60% of banks and 53% of financial services firms say it is challenging to combat fraud without disrupting its customer experience. Similarly, 64% of banking and 59% of financial services express concerns that increasing fraud prevention steps in its online journey will frustrate customers or increase abandonment rates.
Furthermore, more than two-thirds (67%) of financial services firms acknowledge competing priorities over finding the right balance between preventing fraud and maintaining a positive CX.
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Bitget Launches QR-Based Payments for Daily Needs, Targets 2.2 billion Users Globally
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Belize Bank Expands e-commerce Acceptance in the Cloud with BPC, Marking a Decade of Payments Modernization
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Alkami and Cornerstone Advisors Release the 2026 Digital Banking Performance Metrics Report for Retail and Business Banking
Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a digital sales and service platform provider for financial institutions in the U.S., today announced the release of its new research, the 2026 Digital Banking Performance Metrics Report, commissioned by Alkami and conducted by Cornerstone Advisors. Now in its seventh year, the report expands beyond retail banking for the first time to include new benchmarks for business digital banking, while continuing to deliver insights into digital banking adoption, user engagement, and performance trends.
UK Fintech Payments Company Icon Solutions Honoured With King’s Award For Enterprise
Icon Solutions, the UK fintech enabling banks to design and implement state-of-the-art payment systems, has been awarded a prestigious King’s Award for Enterprise in the Innovation category.
Fintech Marketing Community 2026: The New FinTech Marketing Playbook – Trust, Authenticity, and Customer-Centric Growth
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