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FICO Survey: 1 in 4 Indonesian Consumers Report Losing Money to Scams via Real-Time Payments

1. 56% of Indonesian consumers prioritize better fraud detection by banks. 2. High-value scam losses in Indonesia rose from 1% to 8% in 2024.

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FAQ

Why Bullish?

FICO's analytics capabilities align well with growing demand for fraud detection, potentially boosting demand for their services and products. Historically, advancements in fraud detection technology have led to increased adoption in markets responding to rising fraud rates.

How important is it?

The article indicates a clear consumer demand for enhanced fraud detection, which could lead to increased business for FICO. This evolving consumer protection landscape signifies potential growth in markets that FICO serves.

Why Short Term?

The immediate focus on fraud prevention will likely drive short-term growth as banks seek to enhance their systems. Recent heightened awareness of fraud risks may result in quick technology adoption.

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FICOVMA
JAKARTA, Indonesia--(BUSINESS WIRE)--(NYSE: FICO) Highlights More than half (56%) of consumers in Indonesia identified having better fraud detection systems as the most important action banks can take to protect them from scams One in four (23%) Indonesian consumers reported losing money to scams via RTP The share of high-value scam losses exceeding Rp 70 million (USD$4,300) has risen to 8% in 2024 – up from 1% in 2023 A new survey by global analytics software leader FICO highlights the rising.

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