Kimberly is the Senior Director of Market Planning - Fraud and Identity at LexisNexis Risk Solutions. Her areas of expertise include marketing analysis and strategy planning.
Retailers should anticipate and prepare for increased fraud in the foreseeable future, even as we see a light at the end of the global pandemic tunnel. We should all assume that the accelerated movement to online/mobile transactions and payments spurred by the pandemic will continue as the preferred method for transacting. This means businesses must continue to build out and enhance the digital customer experience while protecting themselves against fraud. Organizations can no longer rely on manual processes and thin technologies to minimize fraud and reduce challenge rates, manual reviews and costs. A solid solution includes implementing a robust fraud and security technology platform, which allows businesses to adapt to the changing digital environment while realizing strong fraud management and a risk-appropriate friction experience for genuine customers. Merchants should therefore take a multi-layered solution approach involving digital and transaction risk mitigation solutions that integrate with cybersecurity and digital customer experience operations.21 January 2022