Total Cost Impact of Identity Verification Fraud

According to the 8th Annual Fraud Report identity verification is now the number one challenge for businesses in addressing fraud. Low performing identity verification methods not only cost firms in fraud losses and reputational risk, but can drag revenue in false negatives, low match rates and unnecessary friction leading to new account abandonments.  Use this interactive calculator to scenario test and quantify the business impact of digital identity verification in global terms with US, UK and EU currencies.



Customers attempting to sign-up

per/annum

Pass rate

Direct Fraud losses

per/annum

Vendor Costs

per/annum

Rate slider

Average match rates for onboarding new customers
  • pass
  • refer
  • friction
  • fail

Investigation Costs

Average cost of every fraud investigation
£
REFER decision rate
Loss
£

Friction Driven Drop-Off Costs

Lifetime value
£
Drop-off rate
Loss
£

Failed Identity Match Costs

Lifetime value
£
FAIL decision rate
Loss
£

Total Cost of Identity Fraud

£

per/annum


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