How prepared are financial institutions for cyber attack? A new report from PYMTS states that less than half of all companies surveyed have the capacity to spot major cyber-attack within an hour and less than one-third are unable to suppress major cyber-attack within same time frame. Additionally, cyber treats continue to increase with the advent of...Read More
Around the world, financial services companies and their customers have been the key targets of cyber-criminals who consistently and continuously search for vulnerability points that can be exploited. For instance, A recent cutimes report indicates that 96% of financial institutions surveyed experienced physical fraud and 79% experienced cyber fraud frequently via small skimmer tools and scripts, PIN compromise,...Read More
Nowadays, mobile technologies have enabled convenient interactions and has become the dominant way that businesses engage with customers. In the BFSI domain, mobile banking usage around the world has continue to rise. A recent statista report states that over 23 million families in US will be using mobile banking by 2020 and over 2 billion people around the world, will be...Read More
In today’s competitive landscape, customer acquisition and retention remain the key expectation of financial institutions. During engagement, customers make decisions based on their quality of service perception. Firms that focus on maintaining efficient omnichannel experience gets an average of 89 percent customer loyalty as against 33 percent, received by firms with little or no effort, a recent Aberdeen report states. Therefore,...Read More
Massive amount of cash, large transaction volume and multiple access channels make banks top priority targets for cyber criminals. As financial institutions get better at defending, attackers get better at hacking. For instance in the first quarter of this year, more than 947,027,517 malicious attacks were identified by Kaspersky from online points in 203 countries. It detected PC-malware registered...Read More
Success Story | Unitas SACCO Unitas partnered with JETHRO to ensure efficient Banking Services About Unitas Unaitas is financial services institution licensed under the SACCO Societies Act in 2012 and has more than 24 branches across Kenya. The Situation Unitas planned to ensure efficient banking services and to transform into a commercial bank. It needed to...Read More
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