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Solving SIM swap fraud and poor UX

Sep 20, 2022 / Fraud Prevention

SIM-swap fraud has become a significant threat in the banking world. In 2021, this type of fraud saw a 400% increase compared to the period between 2018 and 2020, causing the FBI to issue a warning earlier this year. Banking customers reliant on SMS OTPs to access or authenticate their accounts or transactions are left especially vulnerable.

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Dewald Nolte, Chief Strategy Officer at Entersekt, explores how banks can solve SIM-swap fraud while also improving the user experience of their customers’ authentication journeys. He shares the impressive results seen by an issuer that implemented a state-of-the-art solution.

Don’t miss the other thought leadership, white papers and Tech Talks from the BAI Deep Dive: Financial Fraud Prevention.