Insights for unlocking new opportunities with customer identity verification
Navigating the dual challenge of fraud and customer experience
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GLOBAL FRAUD THREATS
The pervasive challenge
2
Customers demand fast, frictionless, fraud-free experiences
94%
27%
50%
74%
94% of decision makers face at least one challenge with their current identity verification solution
27% of decision makers report their current identity verification strategy negatively impacts legitimate customers
50% of organizations expect identity verification to enable more accurate fraud detection
74% of decision makers expect this issue to grow over the next two years
3
IDENTITY VERIFICATION
A critical strategic imperative
96% of decision makers view identity verification as important
96%
62% agree that accurate identity verification is critical to business success
62%
49% believe a seamless customer experience is essential to increasing the bottom line
49%
Current solutions struggle to maintain balance
4
1 in 3
1 in 3 businesses report a lack of flexibility and usability in their current identity verification solution
31%
31% of businesses struggle with needing too many tools for accurate identity verification
30%
30% struggle with a lack of integration and internal system transparency
Enhanced identity verification enabled in a single, superior solution
5
63%
63% of business leaders are prioritizing consolidation and simplification in their identity verification tools and processes.
Are you one of them?
Five key attributes of a strategic identity partner
Deep experience
A large network of partners and vendors
Hands-on support
Accessibility and responsiveness
Strategic guidance
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5
2
3
4
Your strategic ally in comprehensive identity verification
DISCOVER THE POWER OF PARTNERING WITH MASTERCARD
We help businesses like yours:
CONTEXTUALIZE DATA
Contextualize data to better understand how identity elements are used over time and across organizations.
UNDERSTAND FRAUD
Understand fraud and how it evolves across borders and industries to prevent it effectively.
PRIORITIZE IMPACT
Prioritize impact by finding the delicate balance between fraud management and customer experience.
Building trust, boosting growth
This infographic is based on research conducted by Hypothesis Group and Mastercard Global Foresights, Insights, and Analytics. For more information about this research, read our report.
1 Mastercard, Ecommerce fraud trends and statistics merchants need to know in 2024, 2024.
85%
92% of organizations report purchasing and implementing tools to address fraud
92%
57% of small businesses anticipate acute difficulty mitigating fraud over the next two years
57%
1
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MASTERCARD
RESEARCH REPORT
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85% of companies fall victim to fraud each year, worldwide1
85% of companies fall victim to fraud each year, worldwide1
1 Mastercard, Ecommerce fraud trends and statistics merchants need to know in 2024, 2024.