For digital-only banks, offering convenience and maintaining top-notch security is a delicate balance. One technique, according to Anand Talwar, deposits executive for Ally Bank, is giving customers control over the tools protecting their data and money. In the Digital Fraud Tracker, PYMNTS explores how digital challengers are using AI, machine learning and algorithms, among other tech, to combat cybercrime without hindering user experiences.
We’ve invested already in a number of authentication capabilities and machine learning-based models, and we’re going to continue to introduce as many new capabilities as we can. We want to continue to evolve and make sure we’re moving to our goal of giving customers a convenient, frictionless experience while also making sure they are protected.