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Financial IT speaks with Nanda Kumar, President and CEO, SunTec at Sibos 2016
Financial IT speaks with Amit Dua, Executive VP, Global Head-Client Facing Group, SunTec at Sibos 2016
Increased sophistication in the banking system has simultaneously increased sophistication in banking frauds. Banks today face a growing risk of fraud incidents via phishing and identity theft, ATM frauds, payment card fraud, cross channel frauds, malware & Trojan attacks and SIM swap. Online fraud alone has cost the global economy much more than initial estimates of USD 100 bn. Banks and regulators are continuously working on combat banking fraud to protect institutions and customers from falling prey to fraud.
Branch banking has been the linchpin of banking activity since the evolution of banks. The rise of financial services and a new mobile generation of consumers contribute to an on-going shift in how banking organizations service their customers. With competition intensifying among financial institutions to provide the best services to customers, it has become imperative for banks to provide superior, consistent and effortless customer experience to acquire new customers or retain existing ones.
In the run up to Sibos an interview on CNBC Europe with UBS Group CEO, Sergio Ermotti, discussing Anti-Money Laundering and Know Your Customer policies caught my attention.
Covering AML and KYC, Sergio went to great lengths to describe his company’s policies as robust and trusted. Given recent issues at UBS, hearing this may be of comfort to regulators and concerned customers, but it seemed strange that a bank should concentrate so much on a service that for many is standard.
In the Nordics, digital disruption is all the rage. Innovative FinTech startups are popping up among the region’s established banks, putting pressure on the latter to remain relevant to today’s tech-savy consumers. Can they keep up?
NextGen Banking Nordics 2016 brought together leaders from all walks of the industry to talk about trends like blockchain, mobile, biometrics and more. Trustly CPO Josef Darmark joined the discussion in a panel called “Technology hype versus technology reality” alongside others from BehavioSec, Accenture, MeaWallet and CustomerXPs.
Thomas C. Brown, Vice President Strategic Sales at LexisNexis Risk Solutions speaks about managing the risks in emerging markets at Sibos 2016.