FRAUD AND ID VERIFICATION
F R O M D A Y S TO HO U R S: T H E S P E E D R E V O L U T I O N
The transformation of incident response timelines represents one of the most significant operational shifts in modern banking.
Prior to 2020, fraud detection was largely a manual process, with institutions often taking days to identify incidents and weeks to resolve them.
Paper-based documentation, siloed departments and phone-based customer reporting created a sluggish response ecosystem that fraudsters exploited with devastating effect.
The regulatory landscape accelerated this transformation dramatically. Federal banking agencies – the Office of the
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Leading banks cut response times from 10 days to just 5 hours
Source: Fidelis Security case study
Comptroller of the Currency, Federal Reserve and Federal Deposit Insurance Corporation – introduced rules in 2021 requiring 36-hour incident notification to regulators.
This compressed timeline forced institutions to reimagine their entire response infrastructure.
Leading banks have responded with remarkable innovation. Fidelis Security case studies document institutions reducing incident response times from 10 days to just five hours – a transformation enabled by realtime monitoring systems, artificial intelligence-powered pattern recognition and automated case management workflows.
The technology stack supporting modern incident response operates across multiple timeframes. Initial detection now occurs within minutes through AI-powered risk scoring systems that analyse transaction patterns in real-time.
Behavioural analytics identify unusual account activity, while device fingerprinting technology can detect unauthorised access attempts before they result in financial losses.
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