digital banking the omni-channel fraud & security · 6/5/2017 · the omni-channel fraud &...
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DIGITAL BANKINGTHE OMNI-CHANNEL FRAUD & SECURITY
2017 May
ONLINE BANKING
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• ‘Online' became popular in the late 1980s - referred to the use of a terminal, keyboard and TV (or monitor) to access the banking system using a phone line.
History
• On-line banking introduced in the late 1980s
• Referred to the use of a terminal, keyboard and TV (or monitor) to access the banking system using a phone line.
• Financial institutions started implementation of e-banking in the mid-1990’s
• Consumers did not readily adopt
The Start
3NCR Confidential
TodayConsumers demand multiple access points
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75%*
of consumers say it’s important or
extremely important to be
able to easily switch between channels when interacting with
their bank
*Invoca Study “State of Consumer Banking”
TodayConsumers demand multiple access points
*Invoca Study “State of Consumer Banking”
Multiple Modes of Communication
OMNI-CHANNEL BANKING
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THE WORLD ECONOMY TODAY…
THAN IT HAS EVER BEEN BEFORE
IS MORE INTERCONNECTED
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Consider how consumer experiences have changed
Consider how consumer experiences have changed
Fast ForwardDigital banking to Omni-Channel
11 NCR Confidential
Defining Omni-Channel and Connected Experiences
Let me choose how, when
and where I connect, interact
and transact
Based on my needs,
preferences and lifestyle
And easily switch between
channels
Bank
Buy
Eat
Travel
Average age worldwide:
29.7Worldwide mobile
phone subscriptions per 100 population:
97
FRAUD & SECURITY
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NCR – Confidential - Use and Disclose Solely Pursuant to Company Instructions13
The Internet Of Things
(IOT)
Mobile Devices
The Cloud
Big Data
Machine Learning/Artificial intelligence
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Major technology influences...
cars
connected by
2020
wearable
devices by
2020
mobile connected
devices by 2020
smart-home
industry by
2020 11.6B173.4M79B90%
BABY BOOMERS MILLENIALS GENERATION ALPHA
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Changes in consumer behavior remain disruptive
SECURITYCHALLENGESPERVADE
FRAUDSTERSNOT BEINGFAR BEHIND
The Bad
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Innovation and convenience leads to…
CUSTOMERS MALWARE TRANSACTION MONITORING FRAUD
Are more connected;
Want choice of how, when they bank, transact and purchase;
It has to be faster, trendy and frictionless!
Phishing:
New paths to enter your organization;
Data Breaches;
DDOS attacks.
Data availability;
Capability to achieve a holistic Fraud Program;
Leveraging non-financial events;
Reacting in RT –analytics, detection and messaging.
Aging Technology;
Customer Epicenter vs. Channel specific;
Inability to set own rules & configurations;
Managing fraud movement.
Challenges to the channel
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Fraud and Security
ID THEFT DEVICE
SPOOFING
IP SPOOFING
Omni-channel - focus on the customer Fraud & Security
Fraudsters are exploiting customers, not channels
Channel fraud & security – isolated will not work
Transacting, buying and purchasing faster
Customers demand a frictionless experience
Your defense – focus on customer behavior
Omni-channel - focus on the customer Fraud & Security
Secure the device
Secure the communication
Protect the consumer
Ultimate GoalSecure & Protect
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THANK YOU