Boston, June 10, 2020 – In today’s digital world, fraudsters can attack any financial institution, regardless of size or location. But compared to larger FIs, smaller FIs tend to have more modest budgets, fewer technology tools, and smaller staffs to devote to protecting themselves and their clients from fraud. How can they increase their operational efficiency with their limited resources?
This Impact Report examines the greatest fraud challenges small and midsize FIs are facing, fraud incident and loss trends, and whether FIs are interested in third-party assistance with various fraud functions. It is based on an online survey of U.S. institutions with asset sizes of US$50 billion or less, which was sponsored by FIS and which Aite Group conducted from February to March 2020 .
This 30-page Impact Report contains 21 figures and one table. Clients of Aite Group’s Fraud & AML service can download this report, the corresponding charts, and the Executive Impact Deck.
About the Author
Datos Insights
We are the advisor of choice to the banking, insurance, securities, and retail technology industries–both the financial institutions and the technology providers who serve them. The Datos Insights mission is to help our clients make better technology decisions so they can protect and grow their customers’ assets.