Tagged: Real-time banking technology

Additional authentication in banking transactions- Are you thinking it right?

Additional authentication in banking transactions- Are you thinking it right?

Migration from traditional ‘one size fits all’ 2-factor authentication methods to a dynamic risk based approach, which uses all available customer, account, payment and device data to manage fraud and risk across the enterprise can be an intelligent move to make as banks would want to monitor transactions and prevent fraud and at the same time do not want to affect the banking experience of its customers. In order to enhance the customer experience banks might need intelligence about account/customer behavior patterns and assess the risk associated with a transaction and advise the right action (challenge/decline/allow) at the right time. Read on…

Why the “Real” in Real-time is Now More Important in Banking Than Ever!

Why the “Real” in Real-time is Now More Important in Banking Than Ever!

People are talking in real-time, to each other and so Brands better be on their toes as well to keep up with this new consumer-producer’s pace! What is the response? Simple, technology! If consumer power increases with the ability to be real-time, so should employees/users. Instances of powerful real-time technology especially in Banking are perhaps limited in current usage to select communities like Traders. What about the average Joe at the Branch teller counter? Brands and reputations can just as easily be destroyed due to a simple clerical error or a bad mood even!