During Mark Zuckerberg hearings last week, the U.S. Representative Michael Doyle said: “The only way to close the trust gap is with legislation”. The recent Facebook/Cambridge Analytica scandal has put the spotlight once again over the sensitive question of data privacy and personal information protection in our all-connected world....
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User experience (UX) is the key to modern digital banking. The secret lies in delivering effortless and well-designed functionalities while providing compelling digital experiences to banks’ customers. Over the past few years, banks have invested heavily in digital innovation to improve the way they interact with their customers, with an estimated US$20 billion spent on digital transformation in 2017 by...
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It is estimated that one segment of the population will represent 40% of all consumers by 2020 and will have more purchasing power than any previous generation did at this age. Here we are talking about Generation Z, defined as the individuals born between the mid-1990s to the early 2000s. ...
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Customer retention and customer loyalty are becoming more important to the banking sector due to the increasingly competitive environment. Not only do financial institutions face competition with traditional players, they also must cope with disruption from FinTech companies looking to steal market share....
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What is the common point between 143 million American consumers and 3.7 million Hong Kong voters? They were all victims of two significant data breaches in 2017 that respectively compromised Equifax’s online web application and Hong Kong Registration and Electoral Office’s computers. ...
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You don’t need as many technical skills to find one person who might be willing, in a moment of weakness, to open up an attachment that contains malicious content” (Symantec Security Response’s Technical Director). ...
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The recent weeks were full with the news of the Meltdown and Spectre hardware security flaws and the agitation they created worldwide. But it is unlikely that many people paid attention to the vulnerability discovered in the mobile apps of major banks, including HSBC, NatWest, Co-op, Santander and Allied Irish bank in December 2017 which created an opportunity for Man-in-the-Middle...
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The new year offers companies the opportunity to speculate on what will be the major trends for the year ahead. With the cyber security sector making headlines throughout 2017, and with a global average cost of data breach amounting to US$3.62 million, we enter 2018 with digital security being a top priority for all of Financial Services....
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The more data organisations collect about their customers, the better they can analyse their needs, segment their offerings and serve them effectively. At the same time, keeping this information protected has also become an ever-increasing challenge, leading to fast-growing regulation requirements....
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The banking services landscape is evolving quickly. From traditional services provided in physical locations (branches) to dedicated banking apps, banks are striving to keep pace and rush to meet customers’ high digital expectations. They aim at enhancing their engagement by becoming more closely integrated with their customers lives. One powerful way to reach this goal is through social media channels....
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