Pre-pandemic, escalating mobile banking adoption rate was primarily fueled by smartphone penetration, with over 4 billion people using smartphones. However, the disruption emerging from the onset of COVID-19 has been a major driver of mobile banking, fast-tracking the trend of mobile-first banking among younger generations, with Gen-Z favoring the mobile channel at 56%.
The increased customer demand for mobile banking services carries increased fraud threats. FIs must wield this combination carefully to avoid fraud losses if they move too quickly or customer churn if they move too slowly.
How can FIs find the right balance when it comes to mobile banking?
This white paper highlights:
- Current trends in mobile banking
- Fraud threats and consumer behavior that result in increased risk
- Strategies for preventing mobile banking fraud
- Anomaly detection for mobile banking
“As financial institutions consider how to secure the mobile channel, they must start with an important premise: the device has been compromised.”
Download the whitepaper to learn how to protect your mobile channel from fraudsters today!
Harnessing the power of advanced AI and financial crime knowledge across financial institutions, NICE Actimize Xceed brings together best-in-class data intelligence, analytics and insights on a single cloud-native platform for mid-market, community and regional banks, credit unions, and fintech.