Consumers expect online convenience; fraudsters expect an easy target. Here’s how banks can win on both fronts.
As bankers grapple with fighting off fraudsters who seek to steal the identities of their customers, they should consider behavioral analytics as a useful weapon in that battle.
Responding to data breaches requires that financial institutions implement a proactive vulnerability management plan and basic security protocols such as network segmentation.
To ward off cyber fraud, banks need to deploy proactive detection systems, give the chief information security officer enterprise-wide authority and improve customer education.
Credentialing customers via biometrics offers banks a way to improve security for customers while increasing their own market share.
Protecting a customer’s vital financial information requires that financial institutions encrypt and track the flow of that data.
As the nation’s largest banks settle mortgage fraud-related cases, evidence mounts that federal prosecutors will turn their focus next to regional banks.
While cyberattacks get the most attention, much data theft at banks occurs at the branch level and can be mitigated by applying appropriate digital security measures.