Banking and payments are increasingly going digital. Your customers are seeking freedom from branches and demanding the convenience of online and mobile banking. This trend benefits your bank by offering a higher margin channel through which you can provide anytime, anywhere access to more high-margin and high-retention services. At the same time, cybercriminals are continuously launching new ways to attack. So your bank needs rigorous fraud prevention, but not at the expense of a smooth banking experience for your customers.
Customer Errors Can Impact Your Reputation
It’s a sad fact of life. Your customers can be unpredictable and unreliable – especially when it comes to ensuring their computers and mobile phones are secure. However, their mistakes are still likely to be your problem. Every time one of your customers is attacked by an online fraudster, it’s your business that’s likely to suffer the most. It’s not just a case of you having to cover your customer’s financial loss, you could also see your business reputation damaged – even though you’ve done everything you thought possible to protect your own internal IT systems.