New Data: Consumers Want Banks To Use Location Data To Keep Accounts, Transactions Fraud-Free
PYMNTS
NOVEMBER 30, 2020
There are other benefits that the function could provide, however, including more robust fraud protection. Being granted access to their customers’ true geographic locations could give financial institutions (FIs) crucial access to data that could protect consumers’ accounts, especially as more of them use mobile channels to shop and pay.
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