Know Your Customer: Protecting your customers and your organization from fraud and data breaches

“Know your customer” is more than a compliance mandate. Knowing your customers’ preferences, goals and aspirations—and using these insights to shape every interaction—is the key to earning and keeping their business. How can banks tailor their fraud prevention and cybersecurity strategies to protect themselves, and uniquely enhance their customer relationships? FICO recently completed an extensive consumer research study of the banking industry. This report presents data on insights and opportunities related to the prevention of payment fraud and data breaches.