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
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
A recent Fiserv survey of 2,000 UK adults indicates that by next year, £3.4 billion and £9.4 billion will be transferred weekly via mobile and online banking platforms respectively with an aggregate of £12.8 billion per week. It added that UK mobile banking customers will double resulting in 32.6 million users by next year. “Capabilities like mobile alerts (for instance, JETHRO’s JDelivery), instant payments and...Read More
GATE annual report estimates 2.07 billion customers worldwide will use mobile wallet to make payments or send money in 2019. This is largely due to strong reliance on mobile phones. China is the largest adopter of mobile wallet payments leading with 56%, followed by India, Africa and the middle east. Presently, World bank estimated 2 billion of the world’s population (excluding small...Read More
