From state-backed hackers to call-center cracks, the threats have multiplied in sophistication and number. But smart banks can fight back.
Fighting card fraud requires going beyond traditional detection methods by enlisting the customer in the effort to flag and halt suspicious transactions.
Rather than viewing cyber security simply as a liability, innovative banks need to utilize it as a competitive differentiator.
Often taken for granted, the humble printer is actually a powerful computer that requires robust security safeguards to protect against hackers.
Biometrics can help improve the ability of banks to determine the identity of individuals using their ATMs or self-service kiosks.
Voice biometrics can be useful in fighting card fraud at contact centers by analyzing the ‘voiceprint’ of prospective fraudsters.
By uncovering a variety of important fraud patterns in real time, graph databases can be a useful tool for fraud prevention in financial services.
Financial institutions need to make sure that their fraud detection technology and procedures keep pace with the customer demand for convenient online and mobile banking access.