For banks, advanced algorithms hold the keys to keeping customer data safe—an imperative as high-profile hacks continue to make headlines.
When data breaches occur, robust transaction analytics can help mitigate the damage.
Big data and advanced analytics can help financial institutions minimize the ‘Zone of Ignorance’ that leaves them open to cyber fraud.
Identity protection is an obvious product for banks to offer their customers, who are increasingly worried about this pervasive crime damaging their finances.
The financial services industry should help design cybersecurity standards to help protect the nation’s digital infrastructure.
Financial institutions need a systematic and flexible program for assessing, implementing and maintaining secure and sustainable access controls.
Rather than constantly playing catch-up with cybercriminals and patching vulnerabilities as they arise, financial institutions need to think ahead to the next generation of cyber defenses.
Customer education and multi-layered defenses can help, but preventing online fraud also requires a secure personal browser.