Gemini Advisory - Quantifying the Reputation Costs of Card Fraud
Common Sense Virtual Roundtable:

Quantifying the Reputation Costs of Card Fraud

October 5th, Successfully held

Presented by

Gemini Advisory

Here’s what we discussed:

While calculating actual fraud losses in fraudulent transactions is easy, it is far harder to calculate the reputational damage of fraud on your business. From false positives that cause legitimate charges to be denied to frequent card re-issuing and customer churn, fraud can damage your business in unexpected ways.

PYMNTS recently reported that 65% of e-commerce shoppers are likely to “terminate their relationships with merchants after experiencing even a single instance of data theft or payment fraud.”
In this session, we explored the implications of reputational damage caused by card fraud.
Here are some questions we discussed:
  • Does the well being of the merchants that do business with your Financial institution matter? Are you proactively taking any steps to protect your merchant clients from being affected by payment card breaches?
  • How do you quantify the reputational damage of falsely denying charges, re-issuing cards and other impacts?
  • How do you weigh the reputational damage against actual fraud losses?
  • What steps are you taking to reduce reputational damage?
  • What metrics do you track to measure success?
  • What amount of card holder churn is due to the impacts of fraud?

Moderated by 

Stas Alforov
Director of Research and Development at Gemini Advisory
LinkedIn

Participation in the Virtual Roundtable is free of charge to qualified attendees. Once you’ve completed the registration, we’ll confirm your invitation and send you a calendar invite with a link to the meeting.

If you don’t qualify, we’ll suggest other learning events that may be a better fit for you.

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