Here are four best practices that companies can use to develop a multifaceted risk management strategy that can enable them to simultaneously fight fraud and fuel growth.
" in cybersecurity and amounts to adopting multilayered defenses to minimize unavoidable gaps in coverage.
But one best practice that may get overlooked is around the value that humans play in the risk management strategy. As a company leader, I don’t believe in replacing humans with technology but rather in arming them with the best tools to give them the ability to fight fraud even more effectively. The value of automation isn’t just in getting work done more quickly or accurately—it’s about freeing up analysts and other team members so they can focus on higher-value, more strategic work. By clearing their plates of tasks that can be managed by technology and arming them with the right tools, people are in a better position to evaluate difficult cases that require a more nuanced approach.
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