Nevertheless, only a third of those involved in the study mentioned the fact that they also take into consideration how fast the bank’s customer service detects a fraudulent transaction.
When asked about the efficiency of the post-fraud service offered by their banks, 74 percent of respondents were satisfied with the way their financial institution dealt with the situation caused by a fraud incident. From this point of view, the highest level of consumer satisfaction was registered among UK customers, with 62 percent claiming they were ‘very happy’ with the treatment received from their bank, as compared with 55 percent of US customers and only 16 percent of customers living in Dubai who stated the same. When it comes to the speed with which banks manage to detect fraudulent transactions before consumers do, Singaporean banks are more efficient, as only 16 percent of respondents based in this country became aware that they had been victims of fraud before receiving a notification from their bank, compared to 21 percent in the UK and USA.
The study was conducted by ACI Worldwide, a US provider of electronic payments software and services, in Australia, Brazil, China, Dubai, Germany, Singapore, the UK and the US.
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