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Fraud Detection & the Customer Experience Continuum
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DrJohnBates
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DrJohnBates,
User Rank: Apprentice
7/10/2014 | 4:48:13 PM
Re: Creepiness
Absolutely Jonathan. These different data legislation regions (country, state) mean we have to be quite flexible. It's quite a lot to think about in putting in the technology! When I was in Washington a couple of years' back, I was surprised that the government has an Ambassador for cloud data - to try to negotiate around all the restrictions, e.g. Germany insists all data about Germans must be in Germany - so how does a US public cloud stand there? Currently they must be in local country. 
Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
7/10/2014 | 4:42:39 PM
Re: Creepiness
Even here in the U.S. we're starting to see different states pass differing laws on data privacy. What flies in New York might not fly in California. So that's definitely something that has be taken into conisderation.
DrJohnBates
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DrJohnBates,
User Rank: Apprentice
7/10/2014 | 4:08:27 PM
Re: Creepiness
Yes it can be creepy to know that someone is watching your every move!! It seems to depend on where you're coming from. DBS Bank does this sort of thing in Singapore, Hong Kong and other Asian locations - personalized offers and fraud prevention - and their customers love it! However, would it fly in Germany or other places where people are more worried about their data and privacy? And just what are you doing with all that data about me? :-)
DrJohnBates
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DrJohnBates,
User Rank: Apprentice
7/10/2014 | 4:06:15 PM
Re: Customer Service is Key
Hi Daniel

Great you've been looking at this area. Yes, there is "category of one" marketing but while you're learning all that great behavioral information, why not use it for "category of one" fraud  prevention - completely personalized and even self-learning!

John
DrJohnBates
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DrJohnBates,
User Rank: Apprentice
7/10/2014 | 4:03:52 PM
Re: Customer Service is Key
Hi Kelly

Thanks a lot for your comment. I agree that some vigilant technology watching our behavior to spot the opportunities and threats is attractive. Like you, that works for me - as long as it doesn't get it wrong too much!! But certainly is scary to many. It seems cultural, e.g. my German colleagues are much more worried about this than my colleagues from Singapore!!!

John
Kelly22
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Kelly22,
User Rank: Author
7/10/2014 | 1:00:08 PM
Re: Customer Service is Key
I agree, great outline on balancing fraud alerts with customer experience. With so many available sources of customer data, banks can better determine which transactions are legitimate and which aren't.

From a customer perspective, it's hard for me to understand people who get annoyed when their bank calls to tell them about a potentially fraudulent transaction. Last Christmas, I got a call alerting me to strange activity on my card and while it wasn't fraud (I just never use that card), I was glad to know the bank was keeping an eye on my account. 

 
Fraud Solutions
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Fraud Solutions,
User Rank: Apprentice
7/10/2014 | 11:55:18 AM
Customer Service is Key
John, you nailed this. Last year, I wrote about the connection between fraud and Customer Service last year during National Customer Service week! Contrary to what most company's think, there's a direct correlation between fraud events, fraud detection and Customer Service which many companies fail to integrate into their products and services.

Dan

Daniel W. Draz, M.S.,CFE

Principal, Fraud Solutions

 

 
Byurcan
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Byurcan,
User Rank: Author
7/10/2014 | 9:44:56 AM
Creepiness
The line between being vigiliant and creepy is a fine one, which you outline very well here.


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