Elavon: Fraud Controls are Now Judged by the Customers They Stop
Elavon's Candice Pressinger emphasizes a customer-centric approach to fraud control, highlighting the importance of preventing account takeovers and combating money mule schemes. She notes that despite advances in technology, traditional methods like phone conversations can still be among the most effective tools in fraud prevention.
Pressinger's insights reflect a growing industry trend toward using customer experiences as metrics for evaluating the success of fraud prevention strategies. As fraud tactics evolve, the focus on direct communications with customers may offer a nuanced solution in an increasingly automated landscape.
Key takeaways
- ▸Elavon emphasizes a customer-centric approach to fraud prevention.
- ▸Account takeover and money mule schemes are key focus areas for fraud controls.
- ▸Traditional communication methods, like phone calls, remain effective in fraud detection.
- ▸Customer experience is increasingly used as a metric for evaluating fraud prevention success.
Why this matters
As fraud risks evolve, payment processors like Elavon that prioritize customer interaction and experience can differentiate themselves in a competitive market. This approach may foster stronger customer trust and loyalty while potentially reducing fraud losses for merchants and financial institutions alike.
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