IntroductionSecurity is a fundamental requirement for all banks as customers expect their investments, personal information and credit details to be secure.
Fraud continues to be an issue for retail banks across the world.
The majority is currently related to cards and payments, however, identity theft and account breaches are on the rise.
As a result, banks are fighting an ongoing battle on all fronts.ScopeCovers the Western European and North American retail banking and retail payments security market Areas covered include market challenges, including fraud issues and the regulatory environmentHighlightsLosses due to online banking fraud are currently small compared to card-based losses, however, it is likely that this will grow over time.
Banks need to consider how they will encourage customers that to use the online channel, guaranteeing its security, without encouraging customers to be complacent about their personal security efforts.
The increased level of automation is a double edged sword, both opening up banks to an increased level of potential security threats, while simultaneously providing them with the tools to be able to detect erroneous and/or fraudulent transactions.
More than ever, banks are vulnerable to breaches due to insider actions, whether intentionally or not.
Bank systems and data are now not only available to their physically onsite employees, but also external contractors, offshore locations, remote contact centers, outsourcers and IT vendors to name a few.Reasons to PurchaseGain visibility into the dynamics of the retail banking security market Gain market insight to assist in your strategic planning and go-to-market strategy