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The transformation and remodeling of the processes of companies with technology in order to avoid fraud is not only a mandatory compliance by regulations, but a way to reduce losses, costs and risks within and with customers.
It is true, the methods and controls rely more and more on technological solutions and disable the commission of fraud.
At the same time they help modernize and improve company processes.
The prevention of fraud in companies is the practice that focuses on carrying out productive actions to avoid the commission of any type of crime associated with their activities. According to Juan Carlos González, CEO of Expediente Azul, the processes most prone to fraud in companies are falsification of documents, falsification of data within documents and identity theft; however, with digitization, technologies are being adopted to reduce this risk.
A success story that has benefited from digitization is proof of life to reduce spoofing, since it requires remote photo, video, audio or biometrics.
The financial industry leads the way
According to the National Commission for the Protection and Defense of Users of Financial Services (Condusef) and its Bureau of Financial Entities, in Mexico during the first half of 2021 the body received more than 2 million 75 thousand claims for possible fraud; of these, five banks group 68 percent of the claims. Likewise, in relation to identity theft, 27 thousand 706 claims were generated, 18 percent more than the first half of last year, of which two banks had 68 percent of the complaints.
With this outlook, those who have taken the greatest actions to reduce fraud are the financial industry, which is leading the way in terms of technology innovation for the digitization of processes, and private finance companies, who have begun to generate 100 percent digital products. .
With the digitization of processes, corporate credit and collections departments have the opportunity to digitize processes and accelerate, secure and generate certainty for their portfolios and prevent fraudulent processes.
The digital and electronic signature, as well as identity validation, risk analysis and the flexibility to be embedded in CRMs, ERPs, reduces errors in documents sent by customers by up to 30 percent and enables companies to dedicate more time for training your staff and for your teams to focus their time on processes, since 50 percent of their time is dedicated to integrating a file.
In that time, companies could lose up to 40 percent of customers for perceiving the process as complex. Likewise, communication problems in requirements integration could cause 60 percent of operations to be lost and up to 20 percent dissatisfaction with complexity could be generated.
To end, The transformation and remodeling of the processes of companies with technology in order to avoid fraud is not only a mandatory compliance by regulations, but also a way to reduce losses, costs and risks within and with customers.
It is true, the methods and controls are increasingly supported by technological solutions that disable the commission of fraud, at the same time that they help to modernize and improve the company’s processes, he assures Electronic IDentification.
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