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Research Report

The Fraud Experience: A Key Banking Relationship Differentiator 

This new report from Cornerstone Advisors, commissioned by Quavo Fraud & Disputes, explores the fraud experiences of 2,000 U.S. consumers and highlights how fraud resolution is a critical driver of trust, card usage, and long-term banking relationships. While most industry research focuses on fraud prevention, this study is the first to quantify the impact of the resolution experience itself. The results are striking.  

CS-Quavo_Report_FNL_Cover 1-min

What You'll Learn in This Report

  • Fraud identification/detection and final decision/resolution received the highest consumer satisfaction scores, with 60% reporting that issuers responded within minutes or hours  
  • Provisional credit issuance and investigation/documentation were rated lowest, with more than 40% signaling they were not given temporary credit during the investigation 
  • While 53% of cardholders indicated that real-time status updates helped to improve their fraud resolution experience, 32% said the capability wasn’t available to them  
  • Consumers who experienced positive fraud resolution expressed stronger trust, were more likely to continue using their cards, and were less likely to switch institutions 

Report Stats At a Glance

60%

 

of respondents said their issuer responded within minutes or hours after the (alleged) fraud was reported or communicated.

53%

 

of cardholders said real-time status updates improved their fraud resolution experience, but 32% said they didn't have access to the feature.

57%

 

of survey respondents said their card issuer notified them of potential fraud, while 40% discovered it themselves through account activity or missing funds.

Ready to See Real Results With Your Financial Institution?

Solutions from Cornerstone Advisors

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Technology Transformation

 With the right core, digital and other systems, you can compete, thrive and better serve customers and members. Our Technology Transformation services range from helping financial institutions select and implement new technology systems, optimize the systems they already have for maximum performance, as well as help your organization develop a technology roadmap to determine the state of your current technology and what you need to become future ready.

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Digital

We help you drive measurable value from your digital investments. Our expert team partners with you to deliver end-to-end support across your key digital initiatives—from strategy to execution. Whether you're modernizing legacy platforms, optimizing digital contracts or scaling new technologies, we ensure every step is aligned to your business objectives. With decades of experience and deep industry insights, we help you make smarter digital decisions and turn your technology partnerships into a true competitive advantage.

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Performance

Cornerstone’s Performance solutions provide a wide range of consulting expertise to help clients identify opportunities to increase efficiency and productivity across their entire organization, whether it’s enhancing the digital experience or optimizing payments. We leverage these services with our proprietary tools, including Performance Vault and Analytics Vault. Armed with unparalleled insider data analytics and benchmarking intel, your bank or credit union will gain the confidence to make sound, data-driven decisions.

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About Cornerstone Advisors

For over 20 years, Cornerstone Advisors has delivered gritty insights, bold strategies and data-driven solutions to build smarter banks, credit unions and fintechs. From technology system selection and implementation to contract negotiations, vendor management, performance improvement programs, strategic planning, merger integration and enterprise program management, Cornerstone combines its expertise with proprietary data and research to help financial institutions thrive in today’s challenging environment. For more information, visit www.crnrstone.com, connect with us on LinkedIn and Youtube, and subscribe to GonzoBanker® for our opinionated take on all things banking.