It was once prevailing wisdom that customers hate any friction in their digital experiences. Today, eight out of 10 people globally welcome added levels of security to protect what matters to them most: their identities and data, according to The 2024 Telesign Trust Index.

We must find the right balance between innovation and customer trust. For the retail industry, combatting digital fraud and engaging customers requires targeted solutions to minimize fraud risk without slowing down customers.

This begins with respecting and protecting customer data across the organization and the customer lifecycle. Security by design ensures a commitment to safeguarding trust is embedded in how a company innovates and operates.

Another way to deliver the highest levels of trust is to seamlessly integrate digital identity and AI-based fraud protection into key moments in a customer’s journey for better and more secure customer experiences. Savvy retailers use a combination of multi-factor authentication, digital identity verification, AI and machine learning, and risk analysis to block fake accounts and establish trust with legitimate customers in milliseconds.

For instance, by streamlining signup and verification, retailers can build affinity from the start, boosting conversion rates. By verifying identity, retailers can know if activity on their site is coming from a real customer or not— decreasing the chances of fraud and chargeback losses and ensuring stronger and more personalized communications tailored to the needs of actual customers, not wasting time and resources on unverified recipients.