A brand new survey exhibits almost half of all monetary providers executives are fighting managing credit score danger and detecting and stopping fraud. The survey additionally exhibits many are revamping their credit score danger decisioning and fraud prevention methods in 2025, with AI enjoying a distinguished position.
These are among the many key findings from the survey of almost 200 key choice makers at monetary providers suppliers globally to know their danger decisioning and fraud challenges throughout the shopper lifecycle, decisioning funding priorities, and AI alternatives. The survey was performed by Provenir, a worldwide chief in AI Decisioning options.
Over half of all respondents plan to put money into danger decisioning options and AI/embedded intelligence in 2025 and past. At current, almost 60% of respondents say they discover it troublesome to deploy and keep danger decisioning fashions. 55% of executives acknowledge the worth of AI to make streamlined technique selections, and in its means to offer AI-powered efficiency enchancment suggestions, and 53% see the worth within the means to routinely tune fashions to make higher, extra correct selections.
Key priorities for buyer and account administration are real-time, event-driven decisioning (65%), eliminating friction throughout the shopper lifecycle (44%), and growing buyer lifetime worth (44%).
Over half of respondents agree the largest information problem they face is with the ability to simply combine information sources into decisioning processes. Survey insights additionally reveal the pitfalls of working a number of decisioning techniques throughout the shopper lifecycle. 59% of respondents say that is inflicting a scarcity of seamless information circulate and unified insights, whereas 52% say it creates operational inefficiencies. Moreover, 28% mentioned it contributes to an inconsistent buyer expertise.
When requested about information and fraud, 37% say they battle with efficient information orchestration for utility fraud prevention, particularly in not with the ability to simply ingest and combine new information sources, whereas 36% are challenged in utilizing AI and machine studying for fraud prevention. Almost one-third of respondents agree that a very powerful side for complete fraud methods is the power to interrupt down information silos between fraud and credit score danger groups.
“Financial institutions are keenly aware of today’s increasingly complex threat landscape and must adopt new approaches for improved risk decisioning and fraud prevention across the customer lifecycle while providing frictionless and personalized customer experiences,” mentioned Carol Hamilton, Chief Product Officer, Provenir. “With an AI decisioning platform more closely aligning credit and fraud risk teams, financial services executives can ensure holistic, end-to-end decisioning with a complete view of customers across the entire lifecycle.”
The survey was performed November-December 2024; respondents had been primarily based in North America, EMEA, Latin America and Asia Pacific, holding the titles of supervisor, director, vp, or above.
