Customers expect financial institutions to have the highest level of fraud protections in place, but online fraud is constantly evolving. And while financial institutions have rigorous systems in place to prevent banking fraud, one very valuable asset is often left exposed: loyalty rewards accounts.
That was the case for one particular financial institution. After experiencing an increase in reward point theft and loyalty program fraud, the bank needed a more sophisticated solution to protect its loyal customers. So, it implemented Rewards Shield.
Loyalty Fraud Product Manager Laura Hurdelbrink explores how Rewards Shield helped the financial institution prevent $800,000 in fraudulent loyalty account activity – without disrupting the customer experience.
Reward program fraud can deteriorate a brand – from lost revenue to ultimately eroding the customer experience and losing loyal members. Learn more about how Connexions Loyalty’s Rewards Shield protects a brand’s most valuable asset: its loyal customers.