Make fraud response your competitive advantage with secure online banking and customer service solutions

Fraud is an intensely personal and stressful experience for both consumers and businesses. When account holders discover suspicious activity or face a large-value fraudulent transaction, the stakes are high. These are the moments when financial institutions must rise above scripted responses and provide empathetic, timely, and meaningful support.

For financial institutions, the key lies in combining digital customer service with secure, online banking solutions. This approach streamlines fraud resolution, reduces stress for account holders, and builds long‑term trust.

Fraud’s footprint in financial services

Fraud is on the rise, and digital channels are a primary target. To ground the conversation, here are some headline stats institutions should keep front and center:

Behind every statistic is a human story. For a consumer, fraud might mean a paycheck rerouted or a savings account drained. For a small business, it could mean payroll delays or vendor relationships at risk. Beyond the financial loss, the emotional toll — including stress, fear, and uncertainty — can linger long after the fraud is resolved.

This is why fraud is larger than a back‑office challenge, it’s making a direct impact on the front‑line support for customers and members. Poor service or slow support in pivotal moments increases the likelihood that users will switch to institutions offering stronger digital experiences and higher service quality.

Why traditional responses fall short

Too many institutions still rely on outdated practices: long hold times, scripted call center responses, and disconnected communication channels. While these methods may eventually resolve issues, they rarely deliver the speed, reassurance, and empathy account holders expect in the moment. Mishandled fraud experiences lead to frustration, lost loyalty, and reputational harm, especially when users find better experiences from competitors with modern digital platforms and superior service quality.

How digital customer service shines in high-stress situations

When fraud hits, account holders need immediate access to empathetic experts, secure tools, and clear next steps. Digital customer service reshapes that experience by connecting people and technology across channels:

• Secure chat: In‑application (app), authenticated chat enables users to report suspected fraud and receive immediate help without leaving digital banking. Agents see context and can initiate steps like card freeze, password reset, and disputes. This reduces friction and speeds time to resolution.
• Virtual assistants + intelligent routing: Conversational AI within digital banking delivers instant, 24/7 answers, triages issues, and automates routine actions (e.g., card freeze, password reset, dispute initiation), while AI‑driven routing directs high‑risk events to the most qualified agent based on user history and expertise. A seamless, context‑rich handoff reduces wait times and improves first‑contact resolution.
• Co‑browsing: Agents guide users, step‑by‑step, through actions like locking a card, enabling transaction alerts, changing credentials, and filing disputes. Field masking and tab‑only sharing protect sensitive data and maintain compliance.
• Secure video assistance: For identity‑sensitive actions (e.g., restoring access, unfreezing cards), video adds assurance while preserving a human connection in critical moments.

For institutions, this translates to lower operational costs and better outcomes through streamlined workflows. For account holders, it means quick, clear answers across mobile, web, and contact center touchpoints, building confidence and trust at the very moment they need it most.

Make your institution the fraud‑prevention hero

Swift, empathetic, and effective resolution reassures account holders that their institution is a true partner in safeguarding their financial wellbeing. Here are practical ways to anticipate risks, prevent incidents, and educate users; turning fraud response into a differentiating strength:

• Coaching and education: Proactively educate users on active scams (phishing, text spoofing), safe behaviors (verifying payees, recognizing social engineering), and contact hygiene (keep email/phone current). Make “what to do if something feels suspicious” a standard part of onboarding and ongoing communications.
• Enforcing security controls: Review and configure digital banking security features with users. Emphasize multifactor authentication (MFA) on every login, granular alerts for high‑risk activities (new payees, large transfers, out‑of‑pattern transactions), device recognition, card controls, and session timeouts matched to user risk profiles.
• Layered security for business clients: For commercial accounts, recommend layered defenses that materially reduce payment fraud exposure such as ACH Positive Pay and Check Positive Pay, so only authorized checks and ACH entries are paid. Combine with dual approvals and entitlements that separate duties (initiate vs. approve), tailored alerts, and regular template reviews to create strong prevention layers that minimize losses and operational disruption.

Turning stressful situations into strength

Fraud is a high‑stakes moment that tests both your customer service and your digital banking platform. When empathetic human support is paired with intelligent, secure solutions embedded directly in the digital experience, these stressful interactions become opportunities to strengthen trust, reduce attrition, and drive long‑term growth.