This is an AArete Financial Services Insight

Situation

An international bank that issues credit cards was experiencing an increase in fraud triggers resulting in a high number of false transaction declines. The client sought a solution to prevent overzealous fraud detection for authenticated, good buyers to improve customer experience and product quality and trust.

Approach

AArete designed a solution to avoid a call center/AVR dialogue that was a key customer dissatisfaction driver in card holders when they were presented with a decline notification from the merchant.  

Results

Adopting a secure passwordless verification process provided immediate customer control of the transaction, thereby increasing customer confidence in the client’s fraud detection capabilities.  

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