Alkami Technology, Inc. announced findings from its research examining financial institutions' evolving approach to fraud prevention and consumer perceptions of data protection. The study revealed that fraud losses reported by consumers and companies in 2024 totaled over $12.5 billion, a 25% increase from 2023.
Alkami's proprietary research indicates that 77% of financial institutions anticipate an all-time high in fraud cases in 2025, with 33% acknowledging a need to enhance safeguards for account holders. A notable 67% of surveyed banks and credit unions are open to incentivizing account holders to adopt stronger cybersecurity practices.
Brad Cranford, director of product management at Alkami, emphasized that digital banking users are aware of increased threats and expect their financial institutions to protect their assets. The research highlights that 93% of digital banking Americans consider protecting data from fraudsters and hackers as important, underscoring the market demand for robust security solutions.
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