In the last few years, fraudulent account openings has been the top strategy of cyber thieves with consumers losing more than $16 billion due to fraud and identity theft. Banks and fintechs straddle an almost impossible line, meeting customers demands for both a hassle-free and safe onboarding experience that works seamlessly in their lives. So what strategies can banks and fintechs use to strike the proper balance between security and ease?
Get a flavour of the conversations Money20/20 ignites and check out some of the biggest names stepping up to this critical challenge, dropping their latest insights shaping the future of fintech.
If not targeted correctly synthetic fraud can negatively impact minors, immigrants and other new-to-credit applicants. Watch our conversation with regulators, risk experts and entrepreneurs discussing whether KYC processes.
Data is supposedly the new oil, but it's illiquid - locked up behind firewalls due to the risks of unauthorised use and regulation. Watch our conversation with TripleBlind’s CEO, asserting that the technology for data liquidity is ready.
The fallout of Wirecard has been far-reaching, GAFAM is in finance now, and the pandemic is still a global threat. Watch the conversation we had at MoneyFest with the President of BaFin addressing the way forward for effective regulations in Europe.
We look at the cyber security compromises that the Financial Services community has had to make with remote working, the new priorities that they will take on for a post-covid working environment, and strategies that can be employed to keep sensitive information safe.
In this podcast episode of The Moneypot we speak to Alissa Knight, a senior analyst with Aite Group, and a self described “white hat” in the cyber security wars, about profound vulnerabilities throughout the entire fintech industry.