Combatting Bank Fraud using the CEMMethodĀ®

šŸ“ˆ So many Metrics, So little Time. Smash through the Barrier!
Get the Deck and The CX Measurement system that works Immediately. šŸ‘

Banks must grasp how criminals interact with their processes and systems. This allows upgraded security to defend customers.

Here’s how using the CEMMethodĀ® to help

User Research and Real Events.

  • Study actual fraud cases.
  • See how criminals use bank offerings.
  • Document fraudsteĀ­r actions, steps taken, what they eĀ­ngaged with, and victim emotions.
  • Consider both faileĀ­d and successful crimes for a completeĀ­ view.

Chart Fraudster Customer JourneĀ­ys.

  • Use the Outside-In Strategic Matrix (OISM), but initially focus just on fraudsters.
  • Understand the different types of fraudsters (do a Customer Categorization (CCAT) exercise)
  • Develop a Successful Customer Outcome Canvas (SCOC)
  • Map the steps from initial bank contact, like account creation through final crime, like unauthorized transactions.
  • Calculate the Disruption Factor (DF)
  • Use the Innovation approach to identify Moments of Truth (MOTs), weak points, and areĀ­as for improvement within this path.
  • Based on the Innovation approach recalculate the DF to show the improvement

Note Every Interaction and Channel.

  • Account for all criminal bank MOTs/touchpoints, including:
    • Account creationLogin/authentication
    • Transaction history
    • Phone, email, and chat communications
    • Customer support exchangeĀ­s

See how criminals exploit weĀ­aknesses at each steĀ­p.

  • Complete a Risk-Impact matrix (RIM)

Data is Key OveĀ­r Visuals.

  • Mapping the experience visually matters, yet the focus should lie on the underlying information.
  • Comprehend patterns, triggeĀ­rs, and behavioural signals.
  • Look beyond the aesthetic appeal of the CX map to extract invaluable insights.

Customer VieĀ­wpoint and Emotions.

  • Step into a fraudster’s shoes. Use the ā€˜empty chair approachā€™.
  • What driveĀ­s them? What emotions arise?
  • Also, eĀ­mpathize with legitimate customeĀ­rs who fall prey to fraud.
  • Understand their feelings of anxiety, frustration, and vulnerability.

Cross-TeĀ­am Collaboration.

  • Involve teams spanning fraud preveĀ­ntion, UX design, security expeĀ­rts, and customer support.
  • Share insights, collaborating to address vulneĀ­rabilities identified in theĀ­ fraudster’s journey.

Prioritizing Account Takeover (ATO).

  • Recognize fraudsters directly target user accounts.
  • Bolster security measures around account creation, login, and password management.
  • Educate users on seĀ­cure practices to preveĀ­nt ATO.

Adapting to Evolving Trends.

  • Stay informed about shifting fraud tactics.
  • As fraudsters adapt, so must your defences.
  • Monitor phishing, social engineĀ­ering, and other fraudster meĀ­thods.

Balancing Security and User Experience.

  • You should enhanceĀ­ security without hindering genuineĀ­ users.
  • Make sure theĀ­ security upgrades don’t negativeĀ­ly affect user expeĀ­rience.
  • Put security measures smoothly, no hassle for real customers.

Keep Improving.

  • RevieĀ­w the fraudster’s plan often, updateĀ­ CX map regularly.
  • Revisit the OISM and CCAT and update them on a regular basis
  • Try new cheĀ­cks, and analyze if they work well against threĀ­ats.
  • Learn from actual incidents and modify practices accordingly.


Frequently Asked Questions Related Bank Fraud and the CEMMethodĀ®

Frequently Asked Questions Related to Bank Fraud and the CEMMethodĀ®

  1. What is CEMMethodĀ®? How does the CEMMethodĀ® help? The CEMMethodĀ® is a comprehensive approach that aims to improve customer experiences by aligning all aspects of an organization with customer needs and experiences.

    It helps by:
    > Lowering costs, increasing revenues, and improving service through the Triple Crown approach.
    > Utilizing tools like the Successful Customer Outcome Canvas (SCOC) and the Outside-In Strategic Matrix (OISM) to identify and prioritize key customer outcomes.
  2. Implementation Challenges: Common challenges banks face when implementing the CEMMethodĀ® for fraud prevention include:
    > Integrating the method with existing processes and systems in a way that is both effective and efficient.
    > Ensuring that the focus remains on customer needs and experiences while also addressing internal processes.
  3. Measuring Success: Banks measure the success and effectiveness of the CEMMethodĀ® in fraud prevention by:
    > Assessing the impact on key outcomes such as lower costs, higher revenues, and improved service.
    > Evaluating the effectiveness of techniques and approaches in real-world applications and their alignment with customer needs.
  4. Integration with Existing Systems: The CEMMethodĀ® can be integrated with existing bank systems and processes for seamless fraud prevention by:
    > Aligning with technologies such as AI, digitization, and machine learning for significant cost reductions and revenue uplift.
    > Adapting the portfolio of techniques and approaches to suit all circumstances, ensuring rigorous dashboards focused Outside-In.

    For more detailed information and practical applications, you can explore the resources and guides available on the CEMMethodĀ®

Steve Towers, an expert in customer experience, enjoys spreading his enthusiasm for this field through coaching, keynote speeches, books, and social media content.

He helps companies win the triple crown – the simultaneous ability to increase revenues, decrease costs, and enhance service – through the CEMMethod, which is now in version 15.

With over three decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in software companies like Parallel.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers

Jargon Monoxide: Clear the Air in Your Workplace!

šŸ“ˆ So many Metrics, So little Time. Smash through the Barrier!
Get the Deck and The CX Measurement system that works Immediately. šŸ‘

In the corporate world, a silent and insidious problem exists – jargon. ā˜ ļø
It’s a language filled with fancy words and complex phrases that confuse and disengage people during meetings.


Some common symptoms of “jargon monoxide” exposure include:-

šŸ™„ Eyes glazing over during presentations

šŸ˜µā€šŸ’« Sudden confusion about the meaning of words being used

šŸ˜µ An irresistible urge to play “buzzword bingo”

For example, a manager once tried to “leverage” and “synergise” to “facilitate a paradigm shift.” The team was left scratching their heads, unsure if this was a new dance move or yoga pose. In reality, it was just a case of excessive jargon, making communication unclear and ineffective.

The key is to use simple, straightforward language that everyone can understand. Avoid complex terminology and aim for a conversational tone. This keeps people engaged and ensures the message is conveyed effectively.

Letā€™s review a couple of examples and possible cures.

šŸŒ©ļø The Outbreak of Disruptive Innovation āš”

Things got out of hand when the marketing team caught the ‘disruptive innovation’ bug. Every idea was ‘disruptive,’ and every plan was ‘innovative.’ The only thing disrupted was clear thinking; the only innovation was finding new ways to say ‘good idea.’

šŸŽ The Epidemic of Low-Hanging Fruit šŸ

The sales team was next, seemingly obsessed with ‘low-hanging fruit.’ Meetings turned into orchard discussions, but no one brought any fruit to the table. The only thing low-hanging was the team’s patience.

Treatment and Prevention:

  • šŸ‘‰ Open a window. Fresh air helps.
  • šŸ«™ Introduce a ‘jargon jar.’ Offenders contribute to the coffee fund.
  • šŸ—£ļø Use plain language. It’s refreshing and, surprisingly, more efficient.
  • šŸ“Ø Communicate plainly and clearly. Straightforward speech is surprisingly refreshing and efficient.

Remember, folks, jargon monoxide may not be listed on any hazardous materials list, but its effects on communication are deadly. Keep it simple and clear, and save the jargon for Scrabble night. šŸ””


Steve Towers, an expert in customer experience, enjoys spreading his enthusiasm for this field through coaching, keynote speeches, books, and social media content.

He helps companies win the triple crown – the simultaneous ability to increase revenues, decrease costs, and enhance service – through the CEMMethod, which is now in version 15.

With over three decades of experience working with large enterprises worldwide, Steve has distilled the successful strategies of top-performing organizations into a proprietary methodology that can be easily imparted to CX teams and executives.

His forte lies in envisioning the future of customer-centricity, customer experience, process management and realizing long-term benefits from business transformation. Steve’s approach combines customer-focused thinking, cutting-edge technologies, and a human touch.

Steve is also an entrepreneur and an early-stage investor in software companies like Parallel.

Subscribe to this channel and reach out and connect with Steve via https://linktr.ee/stevetowers