Secure Payments for Digital Banking CFRM SUC 1260x706

Fraud protection matters now more than ever.

Tech giants such as Amazon, Google, and PayPal all reinforce the immediate gratification of next day shipping, information at your fingertips, and instant fund transfers…it’s no surprise that consumers increasingly demand the same types of products and services from the organizations with which they do business – including their commercial banking partners.

In response, financial institutions have been undergoing a ‘digital transformation’ as the industry scrambles to meet customer desire for flexible online account opening options, faster payment capability, and access to services from the mobile device of their choice.

And if meeting those needs didn’t add enough pressure to banks fighting to remain competitive, the very nature of those technological innovations comes with its own host of problems including increased exposure to cyber-criminals who are waiting in the wings to exploit those digital channels.

No payment method is safe from an attack.

Attacks are on the rise with 30% of organizations reported an increase in experienced fraud attacks in 2019.

Source: 2020 AFP Payments Fraud and Control Report

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