Common phases companies go through in developing their enterprise risk stack
Throughout their lifecycle, companies will face varying fraud-related risks when servicing customers. Some of these risks are commonplace for any online business, while others are more obscure; encountered depending on company industry, maturity stage, or product features offered to customers.
What is certain is that as a business becomes more successful in capturing users and market share, compounding rates of fraud volume are unfortunately inevitable. As a byproduct of growing risks related to fraud, many companies move through natural successive phases of maturing their fraud data strategy and tooling to combat the worries of losses.
In this post, we’ll chart these common phases companies go through in developing their enterprise risk stack. We’ll also outline an alternative, adapted strategy for companies looking to stay ahead of their fraud loss curve as they expand their products and customer bases.
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