Fraudsters can gather customer’s personal information easier than ever by scouring social media accounts and setting up fake quizzes and schemes. The knowledge-based authentication answers collected, such as mother’s maiden name and high school mascots, can be used to circumvent fraud checks and appear as legitimate purchases.  

Not only does KBA make it easy for fraudsters to exploit customers, but the questioning process tends to make customers feel interrogated and alienated.  

Instead of relying on KBA, retailers are having success with behavioral- and device data-based authentication. Utilizing behavior and device data during a customer’s shopping experience helps retailers:  

• Offer a frictionless checkout process  

• Minimize fraudulent activity and incorrectly flagged accounts  

• Increase user satisfaction and likelihood of future sales

• Reduce time spent validating new accounts and credit card transactions