KBC brings 'guardian angel' to more than 4 million customers in Belgium

Retailers and operators should pay close attention to KBC’s new 'guardian angel' feature, as it signals a shift in how financial institutions handle high-risk consumer transactions. The tool allows customers to designate a trusted person to review and approve suspicious payments before they are finalized. For merchants, this could mean a decrease in fraudulent chargebacks, but it may also introduce new friction at the point of sale if a customer's 'angel' flags a legitimate big-ticket purchase as suspicious. This technology is designed to protect vulnerable populations, such as the elderly or those less tech-savvy, from social engineering and payment scams. While currently launching in the Belgian market, this type of 'social verification' is a growing trend in global fintech. If your business relies on high-value digital payments or consumer financing applications, you may soon see similar hurdles or protections integrated into the checkout flow. The goal is to balance security with conversion, but adding a second human into the approval loop is a significant change for real-time commerce.

Source: Finextra

← Return to the library· Submit a correction