In the wake of the Target data breach last December — which put an estimated 70 million customers at risk for identity theft after thieves stole massive amounts of credit and debit card information as well as username and passwords — fraud protection has become a major concern for consumers, and for good reason.
For victims of identity theft, cleaning up the mess is no fun. Some 10 percent of victims must spend more than a month working to clear up associated problems, according to the Bureau of Justice Statistics (BJS). And those whose issues linger are more likely to experience problems at work and in their relationships. Nearly half of identify theft victims who spent more than six months resolving financial and credit card problems reported experiencing severe emotional distress.
Customers have a choice. Make their decision easier and give them an even greater reason to choose your financial institution.
That is the leverage an EZShield partnership provides; equipping you to help fight the ever-growing number of fraud sources, thereby, making you a customer’s source for fraud solutions.
And while your FI delivers award-winning fraud protection, you will have the dual benefit of growing your bottom line.
“What have you done for me lately?” is certainly one of the last things you want your customers wondering about your institution. Without a doubt, you want your bank customers to feel secure and valued through benefits and program offerings that grow loyalty.In every way, what you do should tell your customers that you’re looking out for them.
So when you think about fraud, in addition to considering it in terms of financial loss to the bank, to the merchant and to the retailer—remember to consider the impact to the consumer.