41% of Banks Prefer Metal Cards to Stop Authentication Fraud

America’s banks are under siege, and the enemy is invisible. Authentication-based fraud is skyrocketing, leaving financial institutions scrambling to fight back against an epidemic of stolen identities, hacked passwords and unauthorized transactions.

These are just some of the findings detailed in “To Stamp Out Authentication-Based Fraud, Banks Want Metal Cards,” a PYMNTS Intelligence and Arculus collaboration, which revealed that a staggering 87% of banks have reported an increase in credential-based fraud.