The rapid rise in digital and online activity has opened up a new battleground in the fight against fraud for financial services providers (FSIs), who face a range of emerging fraud vectors and increasingly sophisticated scams.

And while customers moving online provides the perfect cover for criminals looking to carry out authorised push payments (APP), synthetic ID and transaction fraud, other trends, such as the rise in information from data breaches being sold on the dark web, and sophisticated website-related fraud are also on the up.

As a result, FSIs are racing to keep up with this fast-changing risk landscape as they look to protect customer data and their own systems from fraud. At the same time, customers are expecting an increasingly streamlined payments service across digital channels and mobile, creating a perfect storm of risk for FSIs looking to reduce friction while managing evolving fraud risk.

To delve further into these challenges FStech was joined by Glenn Fratangelo, Head of Strategy and Marketing, Enterprise Fraud Management at Nice Actimize.