Finance & Banking , Fraud Management & Cybercrime , Fraud Risk Management

Balancing Fraud Prevention, User Experience

Mike Slaugh of USAA Discusses Effective Strategies
Mike Slaugh, executive director, financial crimes management, USAA

COVID-19 has accelerated the shift to digital banking. Now financial organizations must balance robust fraud prevention with a frictionless user experience, says Mike Slaugh, executive director of financial crimes management at USAA.

See Also: Improve the Online Banking Customer Experience and Exceed Expectations

"Moving forward into 2021, we at USAA and within the industry are making pretty significant investments into getting ... multifactor authentication deployed to as many people as we can, but making it as easy as possible," Slaugh says. "Ultimately, we want people to be authenticating, but not realize that they're authenticating, because there are so many signals that we can pick up that will tell us that we're really speaking to a customer versus a fraudster."

In a video interview with Information Security Media Group, Slaugh discuss:

  • Fraud schemes prevalent during the pandemic;
  • New initiatives around behavioral biometrics for authentication;
  • Future threats from increasingly sophisticated phishing campaigns.

Slaugh, executive director of financial crimes management at USAA, has 15 years' experience in providing support to enterprise security functions, including physical security, information security, risk management, cyber supply chain management and member authentication.


About the Author

Nick Holland

Nick Holland

Director, Banking and Payments

Holland, an experienced security analyst, has spent the last decade focusing on the intersection of digital banking, payments and security technologies. He has spoken at a variety of conferences and events, including Mobile World Congress, Money2020, Next Bank and SXSW, and has been quoted by The Wall Street Journal, CNN Money, MSNBC, NPR, Forbes, Fortune, BusinessWeek, Time Magazine, The Economist and the Financial Times. He holds an MSc degree in information systems management from the University of Stirling, Scotland.




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