Online Banking- A blessing or a threat in disguise?: E-banking, or online banking as we call it, has become an accepted norm of financial transactions for millions around the world. The pervasiveness of internet has contributed to this channel of banking gaining prominence not only in developed countries but also in the developing ones. The modern banking customer who is short on time does not hesitate to...
Fear of fraud is seen as a challenge by banks in introducing innovative services and products.There is a great need for including fraud control imperatives in the banking service innovation journey. This blog analyzes the case of innovative Get Cash service at UK’s NatWest bank and how the fraud could have been avoided with intelligent fraud control systems in place.
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!