WILMINGTON, Del., March 25, 2025 (GLOBE NEWSWIRE) -- Quavo Fraud & Disputes, a trusted advisor and technology partner in dispute management solutions, today unveiled original research results highlighting the critical link between fraud resolution and customer trust in banking.

Quavo’s Q4 2024 Consumer Survey collected feedback from 1000 recent victims of credit card fraud to assess their experience and understand what factors had the greatest impact on trust and brand loyalty. Fraud is, undeniably, a negative experience for any customer. The findings reveal a startling truth: a financial institution’s (FI) response to fraud has a greater impact on customer trust and loyalty than the fraud event itself.

A well-executed fraud and dispute resolution process serves as a loyalty litmus test, revealing the true strength of the customer relationship. Customers who feel valued, supported, and fairly treated are far more likely to remain loyal, even in the face of adversity. 

Key Discoveries for FIs:  

• Fraud resolution affects trust more than fraud itself: 62% of respondents said how their bank handles fraud has a greater impact on trust than the fraud incident itself.
• Speed is critical to maintaining trust: 71% of customers would lose trust in their bank if fraud resolution takes too long, and 66% would consider switching banks due to a slow, frustrating process.
• Fraud response is a loyalty driver: 73% of consumers say fraud resolution directly influences their loyalty, making it a competitive differentiator.
• Transparency builds confidence: 74% of customers rated their bank positively for clearly explaining fraud investigations, reinforcing the importance of proactive communication.
• Fraud resolution has a ripple effect on other services: 70% of respondents said their trust in other banking services is shaped by how fraud disputes are handled.
  

"Trust is a bank’s most valuable asset, and fraud resolution is a defining moment in the customer relationship," said Joseph McLean, Quavo’s CEO & Co-Founder. “Our research proves that a seamless, transparent, and timely fraud resolution process isn’t just about compliance; it’s about building trust that strengthens long-term customer relationships.”

With consumer trust increasingly tied to fraud resolution, banks and credit unions that prioritize speed, transparency, and efficiency can transform fraud challenges into a business growth strategy.

To explore the full report and learn how Quavo is helping financial institutions redefine trust in banking, visit www.quavo.com.

About Quavo, Inc.

Quavo is a leading technology partner and strategic advisor, helping financial institutions (FIs) build trust-driven customer relationships through faster, more transparent dispute resolutions. Our mission is to restore financial trust by simplifying fraud and disputes. Quavo's award-winning technology automates the entire dispute lifecycle, from intake to resolution. FIs can pair this end-to-end solution with our expert-led back-office investigation team in one turnkey managed service. Scalable for institutions of all sizes, Quavo’s solutions reduce losses, ensure compliance, and enhance customer loyalty. Learn more at www.quavo.com.

Media Contact:
Julia Lum
Marketing Communications Specialist
Julia.Lum@quavo.com