Show 319 - Moving Fraud off the Balance Sheet: The New Economics of Fraud in Financial Services

In this special episode made in partnership with Instnt, we discuss one of the most pressing and rapidly evolving challenges in financial services: fraud. As digital channels scale and customer expectations for seamless experiences rise, the question is no longer just how to detect fraud, but how to manage its impact without slowing growth or eroding trust. From the rise of AI‑enabled attacks to the realities of consumer behaviour, this conversation explores why fraud has become an enterprise‑wide issue and why traditional approaches are no longer enough. We examine the shifting economics of fraud, the growing tension between frictionless journeys and risk management, and the emerging role of insurance as a mechanism to transfer loss and unlock growth. Hosted by Debbie West, this episode brings together three leaders at the forefront of this challenge: Kent Lugrand, President & CEO, InTouch Credit Union Mike Wilson, President & CEO, Members 1st Federal Credit Union Sunil Madhu, Founder & CEO, Instnt Together, they share practical insights on building resilient fraud strategies, from journey mapping and cross‑functional taskforces to AI adoption, governance and new financial models that could reshape how institutions approach risk altogether.