XTN has been mentioned in the AITE Group’s new report Application Fraud: Accelerating Attacks and Compelling Investment Opportunities.
Application Fraud is not only here to stay; it will get worse before it gets better. AITE argues that Application Fraud has consistently been among the top two or three biggest pain points for fraud executives at North American FIs for the last five years. There is evidence that it has gotten significantly worse in 2020. Also, mule activities and synthetic identity fraud have significantly increased since the pandemic started.
Considering that Application Fraud is the means by which financial criminals procure access to deposit and credit accounts that make first-party fraud, money muling, and the development of synthetic identities possible, it should come as no surprise that this kind of fraud is increasing. AITE explains investing in Application Fraud controls remains among the most compelling ways to make substantive improvements to downstream manifestations of fraud, account abuse, and money laundering.
AITE lists XTN as Behavioral Biometric Solution Provider and Device Fingerprinting Solution Provider.