COVID-19 pandemic has changed the security landscape for banks. Cyber-attacks against Financial Institutions rose to 238% as the COVID-19 pandemic spread across the world. While many customers resolved to use digital channels, 82% of FIs and customers surveyed experienced social engineering and other malicious attacks. Wired fraud increased by 17% from 2019 while ramsomware attacks against […]

LSOCU in association with JETHRO – provides support for efficient Social Scheme Management The Lagos State Operation Coordinating Unit (LSOCU) of the National Social Safety Nets Programme (NASSP), organized by the Federal Government of Nigeria has engaged JETHRO to provide professional support for efficient social scheme management in the areas of data survey, collection and […]

To have an efficient business model, banks and credit unions are trying to adopt the right strategy between increasing physical branches, expanding into new markets and having a strong digital experience across products. More than $4.7 trillion has been invested in ongoing digital transformation initiatives worldwide yet, only 19% of customers reported significant improvements across 4 […]

Financial institutions usually aim to sustain and increase their customer base via acquisition and retention efforts yet over 70% of customer experience leaders have not been able to develop successful strategies that will increase customer loyalty and drive business growth, stated in the Gartner Customer Experience Research Team 2019 report. Banks would need to consistently try to […]

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 […]

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 […]

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. […]

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 […]

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 […]

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 […]