The damage that a fraud investigation can wreak on a bank is already well documented, but what measures can banks take to protect themselves against such incidents and minimise the repercussions if a fraudster does slip through the net?
Latest articles from Tech & Trading
Talk of banking channels is passé and misses the point. Going digital is about connecting everything, not carving it up.
Once regarded as national treasures, over the past few years many exchanges have been evolving into cross-border operations, focused on capturing larger market shares. Following this wave of consolidation and collaboration, however, it still remains to be seen whether bigger really means better.
In the race to be the 'most digital', banks have lost their human touch, and consequently the relationship between customer and bank has broken down. It is, therefore, time to get back to basics.
The European Commission's proposed update to the Payment Services Directive will allow third parties to penetrate banks' security firewalls, which is leaving banks understandably nervous.
China's leading e-commerce companies are using their wealth of consumer knowledge to tap into the country's state-dominated banking market, introducing innovative new products that threaten to overshadow the more conventional offerings of local banks.
Banks concentrating all of their energy on their digital offerings risk forgetting the most important component of the bank of the future: the customer.
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