Tagged: Fraud Monitoring

Customer Liability in The Age of Digital Banking Banner

Customer Liability in The Age of Digital Banking

Today, in India, when a customer discovers and reports fraud in his account through the use of ATM, Internet Banking or Mobile Banking, customer is liable for the full funds lost. As of Feb 2011, Indian Banking industry has 70,462 ATMs and 5,65,542 POS terminals. The value of debit card POS transaction from Mar 2010-Feb 2011 was 75,326 crores and the value of debit card ATM transaction during the same period was 10,90,053 crores. The size of credit card POS transaction was 75,328 crores. (Source: RBI). Given this huge volumes of electronic transactions in India banking, the value at risk for banks would be humungous when the customer zero liability protection policy gets introduced. It’s high time the banks secure their electronic channels with adequate measures to monitor, detect and prevent fraud in real-time. Read on..

Customer taking control to combat potential fraud 0

Customer taking control to combat potential fraud

Ever wondered how great it would be if customer can take control over the transaction to be allowed and the transaction to be blocked. It would not only be easy at the bank’s part but also would enhance customer loyalty & trust. Read on an Interesting dialogue between a banking customer and bank representative, where the customer wishes for a solution that empowers him like never before