In the battle against bank fraud, the very first login is critical
With fraud becoming more prevalent and sophisticated, banks are under growing pressure to beef up their digital security. It is critical for banks to assure their customers' accounts are secure from the first login.
With fraudsters becoming ever more sophisticated — according to the Federal Trade Commission, fraud went up by 185.7% between 2020 and 2023 — banks are under growing pressure to beef up their digital security.
But while advances such as AI-assisted monitoring have enhanced early detection and prevention, they’re only one piece of the puzzle.
Just as important, banks must secure their customers’ accounts at the first login from a new device. Otherwise, they’re doing the banking equivalent of monitoring the stable without bolting the door.
Why the first login from a new device matters
The first time a banking customer logs on from a new device is significant because it’s a moment banks have a lot of control over.
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