Latin America is one of the hardest hit regions in the world by cybercrime — and cybercriminals are only getting more sophisticated by the day. Many attacks are homegrown, highly-effective, and targeted specifically at financial institutions in LATAM.
In 2019, a fantastic customer experience is arguably the biggest factor driving business growth. But if that’s the case, outdated, clunky, technology tools and solutions are one of the greatest hindrances. Particularly when considering digital banking security.
The value of payments cleared by Payments Canada’s systems in 2017 was approximately $50 trillion, or roughly $200 billion every business day. By 2020, these payments will be completed faster — in “real-time” or “near real-time” — with many benefits beyond just faster access to funds.
Companies have their eyes set on delivering marketing-leading digital experiences, but one major obstacle remains in the way — authentication.
Digital transformation has taken its hold in payments, banking, commerce, and beyond. But both the rapid transformation of processes and the rate of consumer adoption present significant challenges for businesses. One of the biggest questions of our day is how do you verify customer identity in a way that prevents cybercrime without disrupting the user journey?
By impersonating trusted officials, like customer service representatives at a bank, social engineers con unsuspecting victims out of millions of dollars every year. Vishing is surprisingly easy to fall for, catching even the most careful individuals off-guard. Well-crafted schemes carry all the signs of legitimacy, right down to the correct phone number of a victim’s personal bank.