Digital Transformations to
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Fraud Risk - Digital Maturity Assessment
Using a Maturity Model is a good starting point to assess your own organisation's digital maturity, particularly when contemplating a process change or technology project. It provides an idea of how you might be doing against your peers and insights into where improvements might be made.
We provide a portfolio of Digital Maturity Models that form a complementary set, ranging in level of detail and topic focus. This includes models to assess overall busines health and maturity in critical Sales/Growth/Revenue acquisition processes, Efficiency/Productivity/Operations processes and Fruad/Risk/Compliance processes. This page describes the latter.
Our standard’s based Digital 
Maturity Model examines fraud management and control within organisational documented workflows in an online context.
It focuses on higher value and more complex customer-facing processes.
In our experience the most common risk areas here are:
- Compromised documentation and data
- Misrepresentation and mis-selling
- Impersonation (identity theft)
The threat from each of these will be understood to different degrees across any one organisation. Having the tools to enable internal discussions helps to upskill the whole team.
Why should you perform the assessment?
- Proactive identification and management of fraud risks are imperative; if ignored your profits or even your business viability is threatened.
- Highlight opportunities to save money. Fraud management and mitigation is an expensive drain on a company’s financial resources. No one wants to throw away profits, but often 5% of revenues is the hidden cost of fraud (until too late).
- Businesses that have identified their most significant fraud costs (both direct losses and internal costs) have made great strides in reducing those costs.
If your organization is not identifying and tackling its fraud costs, it is vulnerable to competitors who lower their costs by doing so.
What type of information helps?
High volume, low-value transactions typically are subjected to a lot of management attention, so are often better optimised than the more complex lower volume, high-value transactions are undertaken. That's why we start with the latter.
This is a multi-layered approach.
The first step is a simple consideration of digital maturity factors impacting fraud and compliance risk across the organisation. This is initially shown as a radar diagram:
Secondly, upon request, we can engage in a rapid assessment of digital maturity at the next level of granularity. The output often shows that organisations have functional and process areas operating at different levels of maturity. This can be a cause of project overspend or project failure if not correctly addressed in design and roll-out.
Thirdly, clients may request a more detailed assessment to be undertaken. This is a bespoke assessment, using some of our standard tools, against an agreed scope of assessment.
Digital Maturity Matrix Survey
Getting started is easy…
We'll start with the first assessment type. Rate each area on the scale below from 0-5 by moving the slider. Check you're happy with the brief explanation of each scale rating (just below each slider point). Consider the questions below:
Thinking about how your organisation handles data, documentation, identity and authentication in its sales and service processes with new and existing clients, assess your view of your organisation’s digital maturity...
Fraud Risk - Digital Maturity Matrix Assessment
Once all are complete, click Send to obtain the results. Easy!
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