|Event Date||Tue Jul 27 EDT (3 months ago)|
UK Finance recently found that over two thirds of all authorised push payment (APP) scams start online and announced a change to reimbursing rules which would extend banks the autonomy to individually pay back fraud cases to their customers. This progress reflects the wider industry momentum toward boosting consumer protection, in addition to understanding that strengthened security acts as an effective business differentiator to attract new customers.
While it is in the interest of financial institutions to raise awareness with customers on the impacts of cybercrime, they also appreciate that preventing social engineering scams also requires technology. Innovative solutions, such as behavioural biometrics, are being used by financial institutions today to tackle these threats and improve overall customer experience.
Global Payments & Liquidity Expert, Contributing Editor [Moderator]
Chief Cyber Officer, Co-Founder, BioCatch
Global Compliance Director - Growth and Expansion, Railsbank