How to monetize fraud prevention awareness

Monetization is a valuable part of a financial institution's strategic planning process.  The process of figuring out creative ways of monetization is getting easier thanks to improvements in ATM services, digital technology (Internet & mobile apps) and FINTECH innovation that delivers services in a streamlined, efficient and cost-effective manner.

Improve Customer & Member Retention

While digital is clearly a growing preference for consumers, data has also shown that digital-only consumers can be less engaged, loyal, and profitable than those who interact with your bank or credit union through a combination of interactions across multiple channels (digital, branches, etc.). So financial institutions that rely more heavily on their branch networks should find it beneficial to add digital services to complement their traditional offerings to enhance customer retention and preference.

A New Landscape

Monetization can occur when you create a flow of traffic to a destination. Capturing more sales of your products and services.  Consumer expectations are changing. Consumers expect more convenience, personalization, accessibility and ease of use via web, mobile, social and in-person. Increased access and simplicity creates an opportunity for greater consumer engagement and the delivery of your services.

As fraud continues to permeate the daily headlines, fraud prevention awareness is an opportunity that should be seriously considered as it reduces loses and increases revenues.  Broadening your fraud prevention resources is one way to meet evolving consumer expectations.

Here are some ways to accomplish this:

Engage your community
Reducing the number of victims within your community will create goodwill towards your organization. By increasing fraud awareness, you help to prevent the spread of fraud within your community.  

Download our Guide on how to collaborate with your community.

Bring people to your web site
Include more up-to-date fraud safety tips on your web site and blog.  Increase content to help small businesses, families, students, seniors and offer easy to use victim assistance resources.  Providing a comprehensive security section will attract and keep visitors engaged on your web site and not away on third party sites or searches. 

Download our Guide on how to create your Security Section.

Provide uninterrupted customer support and ease of use
Today, serving your customers or members in the most personalized way is the key to growth. With the advent of ChatBots, it is possible to provide consumers with a 24/7 fraud awareness support system. With this, you can ensure better satisfaction by resolving more questions in less time. 

Download our Guide on how to build your ChatBot.

Stay out in front of the headlines
Data breaches and other time sensitive fraud news happens daily.  By publishing news and alerts in real time, you to stay out in front of the latest fraud headlines.  Offering consistency will create habits that bring more daily visitors to your web site. 

Download our Guide on how to publish current news & alerts.

Utilize Facebook
Add a security tab as a feature to your Facebook page. Increasing your Facebook activity will inevitably lead to more exposure to your community events and service offerings.  

Download our Guide on how to add a Facebook Tab.

Tweet To Your Followers
Bring consumers back to your Web site using Twitter. Our research shows that most financial institutions share external links when Tweeting. Sharing helpful articles will engage and bring your followers back to your web site.