Experian s Fraud Advisory Board clients cover the latest hot topics and industry trends

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1 Experian s Fraud Advisory Board clients cover the latest hot topics and industry trends

2 Purpose Why are we here today? Organizations are tasked now more than ever to effectively authenticate consumers and control fraud What are the current authentication and fraud methods? Data scores device biometrics what else what is working? How do these technologies align with the current authentication and fraud trends? How can new technologies support the changing growth, while still providing strong authentication and fraud controls? Our panel is a cross selection of fraud prevention leaders with the focus for 2017 and beyond Experian s Fraud Advisory Board 2 Experian

3 Introducing: Brian Corr Bank of America - Senior Vice President of Enterprise Fraud Management Michael Truitt Alliance Data Services Senior Director Fraud and Account Protection Tim Webb Citi Senior Vice President, Fraud Prevention Director Retail Bank Matt Ehrlich Experian Senior Director Product Marketing Dan Elvester Experian Head of Partnerships, NA

4 Market overview What is the market saying? Technology Economic Social Fraud Expanded use of mobile devices has made the Internet a covert and fertile breeding ground tor fraudsters As fraud grows in complexity and magnitude, the potential for losses and rising operational costs is increasing Limitless choices and options makes the need to minimize friction on existing relationships a primary consumer experience concern Fraud detection may not be the number one priority but rather moving throughout the organization 4 Experian

5 The attack vectors Stealing data, compromising systems INDUSTRIALIZATION OF FRAUD 10,000 Estimated number of fraud rings in the U.S. alone GROWTH IN ZERO-DAY EXPLOITS 125% Growth in zero-day vulnerabilities between DATA BREACHES 3,000,000,000 + The number of records exposed as a result of data breaches since 2005 Source: Risk Based Security/Open Security Foundation, Data Breach Quick View (February 2014) EXPLOSION IN MALWARE 430,000,000 Unique strains of MALWARE detected in 2015 Source: Symantec (2015) Source: Symantec (2016) 5 Experian

6 Market trends Aite Study Top trends in Financial Services 2017 Predictive analytics catalyze consumer engagement Financial institutions accelerate and deepen financial technology (FinTech) partnerships Financial institutions remove friction from authentication Lenders embrace alternative data The concept of identity evolves 2017 Aite Group LLC 6 Experian

7 Market trends What is going on Consumer experience trumps all Clients live in a complex and changing regulatory environment Manage the entire fraud and identity portfolio Traditional personal identification information less available, more easily compromised, less predictive in isolation Define the level of confidence required at a transactional level Urgent need to address authentication of emerging or thin file consumers Optimize decisions across services Take back control move at the speed of fraud 7 Experian

8 Market trends Today s threats Top threats continue to be: First party fraud Account opening Synthetic fraud Authentication consumer experience Mobile payment / deposit fraud Cross channel fraud 8 Experian

9 It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change. Charles Darwin 9 Experian

10 Questions? The panel of experts Tim Webb Brian Corr Michael Truitt First party fraud 10 Experian

11 Questions? The panel of experts Tim Webb Brian Corr Michael Truitt Account opening 11 Experian

12 Questions? The panel of experts Tim Webb Brian Corr Michael Truitt Synthetic fraud 12 Experian

13 Questions? The panel of experts Tim Webb Brian Corr Michael Truitt Authentication consumer experience 13 Experian

14 Conclusion Moving forward We have heard from the experts in fraud and identity There is no silver bullet We must be able to integrate with current authentication and fraud methods Regulatory requirements must be part of the solution Focus must always be on the consumer experience Experian Fraud and Identity Services bring it all together 14 Experian

15 Even if you are on the right track, you ll get run over if you just sit there Will Rogers 15 Experian

16 Questions and answers Experian contact: Dan Elvester 16 Experian

17 Share your thoughts about Vision 2017! Please take the time now to give us your feedback about this session. You can complete the survey at the kiosk outside. How would you rate both the Speaker and Content? 17 Experian

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