Account holders should be able to trust their bank or credit union to protect their valuable financial data. However, the human presence within complex networks inherently creates privacy and governance vulnerabilities, particularly in the visibility, control, and protection over how, when, and where data is made available to the people who use it every day.
With the increase in pressure on Banks and FIs to secure transactions and customer data, the prevailing question becomes, how to ensure the account opening process is as seamless as possible. As demonstrated by the Aite Group statistics, high abandonment rates are abundant, lying between 65% and 90% and it falls to the service providers
Is your bank keeping pace with escalating customer expectations shaped by their mobile experiences? How are you addressing the perception that all banks are the same? It’s tough when you have a product focus and outdated technology is holding you back. You know you need to modernize to win and retain demanding, empowered, and fickle
Account takeover is one of the biggest threats that banks are facing today. With 3.8 billion data records compromised worldwide in 2018, it is evident that despite implementation of cybersecurity measures, digital channels remain vulnerable. Adversaries have a variety of weapons at their disposal, which makes effective protection a challenge. To make matters worse, legacy
A blueprint for consolidating, automating and driving efficiency across reconciliation – and beyond. Reconciliation is an essential control function in financial services, aimed at eliminating operational risk that can lead to fraud, fines or in the worst case, the failure of a whole firm. And yet, innovation in this area has been slow with operations
Governments around the world are issuing economic stimulus and relief packages for businesses affected by the outbreak. From the EU, where the European Investment Fund will guarantee loans to help “provide liquidity to at least 100,000 European small and medium-sized enterprises (SMEs)” – to Japan, where SMEs are being offered interest-free loans and large corporations
The COVID-19 pandemic has forced a sudden shift from physical to digital. For months, financial services firms have had to swiftly put in place solutions to try to minimise the impact to employee productivity and client service when operating remotely. Now, more than ever, firms are turning to IT innovations to digitally transform their organisation.
SMEs in particular, hard hit by physical constraints, acutely need to be digitally connected and empowered towards identifying sales and service opportunities. Banks and financial institutions can offer this through bundling their core services and functionality along with digital enablement tools. Curation through security and finance would easily make them a one stop shop. Read
The global pandemic brings the need for effective digital identity as physical distancing measures are imposed worldwide. Remote access to financial services is more in demand than ever, however there are a wide range of risks when engaging with consumers in a faceless environment. In this free webinar, Rahim Kaba from OneSpan and Ignacio Del
Digital and mobile banking are under attack – and the threats are increasingly faster, more sophisticated, and automated. Fraud managers and analysts face a round-the-clock battle as they try to identify and stop fraud before customers are affected. To help financial institutions manage the risks without shifting the burden to the customer, our security experts
Recent market disruptions, including COVID-19 have highlighted that innovation to front-office engagement channels alone is not enough. To truly become customer-focused, financial institutions must solve the fragmentation of systems and processes that are found in middle and back-office operations. They need a single system of record that provides a complete lens into the customer experience
As mobile banking use surges worldwide in response to COVID-19 and its associated lock-downs, a corresponding rise in mobile banking fraud continue to increase in prevalence and sophistication. The December 2020 discovery of an “evil emulator farm” made clear that mobile fraudsters can now automate their processes. As a result, they are able to easily
