From reduced costs to customer convenience, value-added services and cross-channel opportunities, technology has become a key driver of customer loyalty at a time when next-generation providers are pushing hard to attract new customers with novel services and products.
Unfortunately, the very technologies that enable customer convenience also facilitate fraudsters and cyber criminals. The integration of physical and virtual services, availability of personal identifiable information (PII) across multiple sources and weaknesses in widely used software are joining with basic human error to enable fraud on previously unimagined levels.