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When money moves quickly, consumer satisfaction levels are high and most consumers are also willing to take extra steps to help organizations fight fraud with fast money movement. However, when fast money movement doesn’t happen, consumers abandon transactions and look for alternative methods to satiate their needs.
As the world becomes more interconnected, the emphasis on speed of financial transactions will only become more important. Mediocre satisfaction levels for the speed of money movement for some financial transactions, such as applying for a mortgage or personal loan, has the potential to leave some organizations vulnerable to challengers with innovative solutions.