Savings will multiply with the ability to reach more customers, more quickly, using automated alerts as compared with manual solutions. Also, the reduced time lag between an event and a customer’s ability to review that event can be used where fraud is a concern. Proactive alerts can give customers greater control and cut off fraudulent activity faster than relying on monthly statements or weekly account-review sessions on the internet.
Based on TowerGroup research by Ed Kountz, senior analyst in the Emerging Technology Solutions practice at TowerGroup, a leading advisory research and consulting firm focused on the global financial services industry. E-mail: ekountz@towergroup.com
