The rapid growth of mobile banking through phones and tablets reflects the central role that these devices now play in the lives of consumers around the world. It also highlights some of the growing challenges that banks face in handling their customers’ migration to new banking channels. In the UK, research by the British Bankers’ Association found that British consumers would use mobile devices to check their current accounts 895m times during 2015, against 427m transactions in bank branches. By 2020, the BBA forecast that customers will check their current accounts from mobile devices 2.3bn times a year, more than internet, branch and telephone banking combined.
Source and read more: NG FinTech Blog
http://www.netguardians.ch/news/2016/5/26/perks-of-using-mobile-banking-how-to-protect-customers-and-minimize-fraud
Graphik: Courtesy NetGuardians
NetGuardians specializes in the use of customer behavior analytics and profiling to implement fraud and compliance controls. Their software leverages Big Data to correlate and analyze behaviors across the entire bank system – not just at the transaction level. With automated controls, NetGuardians enables banks to target specific anti-fraud or regulatory requirements.
“Financial institutions today need fraud protection integrated into everything they do,” said Rafael Maio, chief operations officer at NetGuardians. “With BehavioSec, we help financial institutions provide strong security for transactions, contributing to overall security and client confidence.”
NetGuardians
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