Cyber, AI, and identity: Elevating secure digital banking journeys [16:44-20:15]

Account takeovers, this is continuing to be a challenge, significant rise again and again. Again, this is one area where we would actually encourage there to be a little bit more friction, have password resets. I have a little bit more interaction with the customer. Serious risk like SIM changes, high risk journeys that some customers go through, perhaps require a stronger verification. Also, the huge rise in authorized push payment scams, APP scams. It's when a customer is almost tricked into authorizing a transaction. We recommend institutions confirm that they look at where the money is going. Have now risk-goating the beneficiaries looking at the transactions themselves for high risk transfers. In addition to that, real-time, as Michelle pointed out, bringing in real-time fraud analytics and orchestration of your data have a good fraud decision engine because most institutions have a lot of rich data buried in many, many tools that are not brought together. It's bringing that data together to make some good decisions and also having stronger, mule account and synthetic identity controls. The issue about these mule accounts is growing significantly. I'll talk about it also a little later, but with social media and recruitment of individuals, this is going to be an ongoing challenge. Also, having customer trust and communications within your apps, within your digital channels, verifying communications, not just being reliant on SMS or email, having that customer experience. Also, managing your third party and ecosystems. There are a lot of third-party vendors out there having a strategy around managing your vendors, identity verification through these third-party apps also and continuing to look out for deep things. I want to play off of something you said early that I think is important that I'm seeing in a lot of different financial institutions is where fraud is owned and managed, because a lot of times, if it's in many parts of that financial institution, no one owns it and really drives to. I think early on in your dialogue, you were mentioning it really has to be owned and driven, not necessarily that that's centrally, but as we know, the decision-making, the amount that it needs to be embedded, deciding on the degree of that friction is part of the experience. It really has to come from the top and be driven. Exactly, Michelle. When we talk about friction, we always think about the customer friction. This does create friction internally, navigating all the different groups, but for some of our large clients that have gone through this journey, huge outcomes, huge benefits they're seeing in managing fraud and protecting their customers.