117 0 Kommentare New Forbes Insight Report Reveals Almost 70% of Banking and Finance Leaders Believe AI-Powered Fraud Will Threaten the Security of User Transactions in 2024 - Seite 2

Budgets – Most (65%) survey respondents stated their annual budget for call center resources dealing with password resets or identity verification will grow over the next year, and the same proportion said that the budget dedicated to password protection will also grow year-over-year. Additionally, more than a third plan to increase spending on FIDO, nearly half plan to increase spending on passwordless authentication and 65% plan to increase spending on multifactor authentication.

As business leaders face increasing threats, innovative solutions like hardware keys are gaining traction. Advancements in authentication technology, particularly through solutions like Arculus Authenticate, a custom digital security platform by CompoSecure, offer a promising avenue for simplifying secure transactions without compromising convenience. With a simple tap of the card to a mobile phone, customers can authenticate themselves, approve high-dollar transactions, and reduce fraud with Arculus Authenticate. Arculus by CompoSecure is FIDO2 certified and an approved Microsoft vendor, offering users a reliable and user-friendly secure passwordless authentication solution. Financial institutions can enhance customer trust and differentiate themselves in a competitive market by embracing frictionless authentication methods such as FIDO2, ultimately improving the overall customer experience while safeguarding sensitive data.

Methodology

Forbes Insights surveyed 200 U.S.-based business leaders: 23% of respondents came from banking companies, 23% from brokerage companies, 20% from credit card companies, 20% from fintech companies and 15% from neobanks. Respondents’ titles included COO (13%), CISO (13%), CIO (13%), CTO (13%), as well as directors/heads (25%) and SVPs/VPs (25%) in operations, fraud, fraud prevention, risk management, customer experience, technology, cybersecurity, information security, vulnerability and penetration testing and system architecture. All respondents came from organizations with at least $250 million in annual revenue and 35% of respondents work for organizations with annual revenue of over $1 billion.

About CompoSecure
Founded in 2000, CompoSecure (Nasdaq: CMPO) is a technology partner to market leaders, fintechs and consumers enabling trust for millions of people around the globe. The company combines elegance, simplicity and security to deliver exceptional experiences and peace of mind in the physical and digital world. CompoSecure’s innovative payment card technology and metal cards with Arculus security and authentication capabilities deliver unique, premium branded experiences, enable people to access and use their financial and digital assets, and ensure trust at the point of a transaction. For more information, please visit www.CompoSecure.com and www.GetArculus.com.