TLDR
The number one fraud challenge cited by executives is optimizing the balance between fraud and friction. Nearly half of Americans have bailed out of signing up for a new account because the process was untrustworthy or time consuming. A lack of identity verification trust and new account fraud lead to a myriad of harmful repercussions, not just potential financial loss, but potentially a new customer in the future. The abandonment rate among American consumers has steadily grown each year according to the prior annual Consumer Digital Identity reports. Consumers want ease and simplicity with additional hoops and mutual distrust is a recipe for mutual distrust.via the TL;DR App
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