Fraudology is presented by Sardine.
In this episode of Fraudology, host Karisse Hendrick continues the conversation (started on episode 169) by Matt Vega, Head of Fraud Strategy and Sidharth Shah, Sr. Product Manager, both at Novo.co, a fintech that provides financial products to start-ups & SMBs. In this episode, Matt & Sid share their experiences with data-driven vendor selection, the challenges of tech integration, and the critical importance of balancing fraud prevention and customer experience in the fintech space.
They also delve into cutting-edge technologies to ensure a positive & frictionless customer experience, by utilizing behavioral biometrics and more insights into the overall customer journey, rather than only taking a snapshot of a customer's actions at the time an action is concluded (at log-in, account creation, "check out", time of transfer, etc.) By having the full picture of the actions a user takes across their platform, they are able to provide a seamless experience to the vast majority of their users; small business customers who need access to their funds quickly. They also introduce the concept of "trip wires" & "land mines" in different areas across their platform triggered by risky, anomalous actions to stop bad actors.
Sid also introduces the importance of customer empathy in successful fraud prevention; and the impact this focus can have not only on ensuring less friction but also on building customer trust & loyalty to your brand. Overall, they stress the need to view people as people, not just customers, and how the right amount of friction can actually make users feel safer.
*If you're intrigued by this innovative approach to fraud strategy, we recommend contacting the team at Spec for a demo! Unknowingly, what Matt & Sid described was exactly what Spec aims to provide, without the hassle of trying to obtain internal engineering or connecting to any APIs! Learn more at www.Specprotected.com
To connect with Matt on LinkedIn (Solicitations won't be replied to):
https://www.linkedin.com/in/thefraudfighter/
To connect with Sid on LinkedIn (Solicitations won't be replied to):
https://www.linkedin.com/in/sidharth-shah/
Fraudology is hosted by Karisse Hendrick, a fraud fighter with decades of experience advising hundreds of the biggest ecommerce companies in the world on fraud, chargebacks, and other forms of abuse impacting a company's bottom line.
Connect with her on LinkedIn
She brings her experience, expertise, and extensive network of experts to this podcast semi weekly, on Tuesdays and Thursdays.
Mentioned in this episode:
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