In a recent conversation with Niels Vink and Kathelijne Swaak, both leaders in ABN AMRO’s fraud prevention team, we explored the bank’s innovative approach to enhancing fraud awareness among its customers. The discussion highlighted a unique strategy: using real customer stories to create a deeper connection and emphasize the importance of vigilance against scams.
Breaking the Taboo: Real Stories, Real Impact
Niels and Kathelijne shared how ABN AMRO broke the traditional mold by encouraging customers who had fallen victim to fraud to share their stories. “For them, it was real, and they felt stupid for falling for it,” they explained. “But we broke the taboo, and we actually found customers willing to tell their stories. This approach resonated not only with our customers but also with the media, bringing much-needed attention to the issue.”
This method of storytelling goes beyond the usual warnings. As they likened it, “It’s like riding a bicycle. You can tell someone not to fall, but unless you explain how to avoid the rocks on the road, they won’t know what to do.” By sharing real-life experiences, the bank was able to create a more engaging and effective awareness campaign.
Engaging Customers Through Empathy
One of the challenges in using real stories is managing the emotional toll on the victims and the potential backlash they might face. Niels and Kathelijne recounted how ABN AMRO’s fraud operations team played a crucial role in this. “Our colleagues in fraud operations, who are in direct contact with the customers, really backed them up. This support was reflected in our Net Promoter Score, which ranged between +40 and +50, an extremely high score for a call center.”
This strong customer support made it easier for the bank to approach victims about sharing their experiences. “Not everyone we contacted wanted to participate, but those who did were motivated by the idea that their story could help others avoid the same fate.”
Balancing Scare and Empowerment in Scam Prevention
In the ongoing battle against online scams, financial institutions face a delicate balancing act—communicating the reality of scams without scaring customers. This challenge is particularly pronounced in the U.S., where there’s often a reluctance to associate a brand with something as negative as scams. Niels and Kathelijne pointed out that this mindset is still prevalent, with many banks hesitating to collaborate with marketing teams on these issues. However, the truth is that customers are already aware of the risks. The real question is: How will you step up to help them?
The key lies in empowerment. While it’s crucial not to overwhelm customers with fear, it’s equally important to convey that they have control. Niels and Kathelijne shared how ABN AMRO has evolved in this regard. Initially, simple security messages faced resistance, but now, there’s a shift toward urgency and collaboration. When the fraud team asks for a banner or campaign, they get it—no questions asked.
Interestingly, this approach ties into a cultural aspect, particularly in the Dutch market, where people are known for their skepticism and resistance to authority. In such environments, simply telling customers what to do isn’t effective. Instead, it’s essential to nudge them in the right direction and explain why. Awareness campaigns that educate customers on how to use mobile banking apps safely, for example, focus on the underlying message: you’re in control.
Measuring Success: Collaboration and Customer Satisfaction
When it comes to defining success, Niels and Kathelijne emphasized the importance of internal collaboration within the bank. “Our first goal was to get the entire chain, from fraud operations to IT and e-commerce, working closely together. We were in crisis mode due to malware infections affecting our customers, and we needed to act fast.”
This collaboration paid off. Within 24 hours, ABN AMRO was able to notify customers about the malware threat, and the response was overwhelmingly positive. “Customers appreciated the timely warning, and this was reflected in our campaign’s customer satisfaction score—a remarkable 9.8 out of 10.”
The Evolving Landscape of Security and Convenience
Niels and Kathelijne also touched on the evolving relationship between security and convenience in banking. “There was a time when these two were seen as opposing forces, but now we see that they can go hand in hand. Customers want friction-free banking, but they also understand the need for some friction when it comes to fraud prevention—especially when it’s explained properly.”
This understanding has allowed ABN AMRO to introduce new security tools, such as locks on savings accounts and secure transaction limits, giving customers the choice to add extra layers of protection if they wish.
A Collaborative Effort Against Fraud
Perhaps one of the most significant points Niels and Kathelijne made was about the collaborative nature of fraud prevention in the Netherlands. “At ABN AMRO, we work not just within our own teams but also with other banks, the government, the police, and even social tech companies. In fraud and security, we’re not competitors; we’re partners in the fight against fraud.”
This cooperative approach ties back to the social responsibility aspect they mentioned at the beginning of our conversation—everyone has a part to play in ensuring the security and safety of consumers.
Looking Ahead: The Future of Fraud Prevention
As the conversation shifted to cultural differences in fraud prevention, Niels and Kathelijne highlighted an interesting challenge: the reluctance of some financial institutions to openly discuss scams. “Most banks in the U.S. don’t want to talk about bad stuff because they fear associating the brand with scams. But the truth is, everyone knows scams happen. It’s about how you’re going to step up and help me,” they explained.
They further emphasized the delicate balance between not wanting to scare customers and empowering them. “We shouldn’t scare them, but we should tell them that they can be in control. As long as the customer knows they are in control, they feel empowered.”
ABN AMRO is also focusing on the nuances of scams, particularly impersonation tactics. Recent campaigns have highlighted what the bank would never ask customers to do, such as transferring money over the phone, while also depicting how fraudsters operate. This visual storytelling has proven to be an effective way to raise awareness.
Another emerging focus is on younger customers, who are often on different social media platforms and may not receive traditional messages. The bank is learning how to engage this demographic more effectively. Additionally, the rise of deepfake and deep voice technology presents a new frontier in scam prevention. However, Niels and Kathelijne emphasized the importance of timing—addressing these threats too early might not resonate with customers, but waiting too long could leave them vulnerable.
Conclusion
ABN AMRO’s innovative approach to fraud awareness, particularly through the use of real customer stories and internal collaboration, has proven to be a powerful tool in the fight against financial scams. By breaking the taboo, supporting victims, and fostering collaboration both within the bank and across the industry, ABN AMRO is setting a new standard for customer engagement and fraud prevention.
As the financial landscape continues to evolve, the lessons learned from Niels Vink and Kathelijne Swaak’s efforts will undoubtedly serve as a blueprint for other institutions looking to protect their customers and build trust in an increasingly digital world. By striking the right balance between caution and empowerment, financial institutions can ensure that their customers are not only informed but also empowered to protect themselves from scams.
