The key to containing application fraud as a result of identity crimes is to orchestrate identity verification and authentication techniques until the FI is certain whether the applicant is who he or she claims to be. This doesn’t have to be burdensome for the customer – in fact, it has to be easy and simple, or the legitimate applicant will simply go somewhere else.
Learn more about how financial institutions can confront application fraud with multi-layered and smart tools to authenticate individuals with little or no friction.