Covid-19 hastens take-up of digital fraud tech in banks

Steven D’Alfonso is a research director with IDC Financial Insights (www.idc.com/prodserv/insights/#financial) responsible for compliance, fraud and risk analytics strategies.

Fraud teams within banks have had to adjust swiftly to work primarily from home while simultaneously handling a surge in alert volumes and investigations. As individuals’ behaviour and spending patterns changed virtually overnight, the pandemic highlighted inherent weaknesses of legacy anit-fraud technologies and processes with substantial manual operations. Steven D’Alfonso of IDC Financial Insights provides tips for technology buyers.