How Latin American banks are using Knomi® to win more customers and prevent fraud Dramatic advances in mobile phone technology and networks present banks the opportunity to make their services more accessible. Customers can now use their mobile devices to quickly apply for new accounts and credit lines, access their account information, and perform [...]
Financial institutions in the European Union have long acted as fintech beacons for the rest of the world. Case in point, the chip-and-PIN card technology that the U.S. only started rolling out in 2014 has been in use throughout the EU since the mid-2000s. Now the EU is preparing to take its next leap forward [...]
For financial institutions, mobile banking is a cost-effective way to reach new consumers. The technology offers financial inclusion and unprecedented convenience. The Nielsen Mobile Shopping, Banking and Payment Survey found 47 percent of consumers across the globe used their mobile phones to check their account balances at least once in the six months prior to March 2016. 42 percent said they had used their mobile devices to pay bills.
Banks are starting to question just how effective passwords really are at protecting their customers’ accounts. Customers also increasingly view passwords as outdated and insecure, particularly for use on mobile devices. Tech pundits have speculated that biometrics will soon replace use of passwords on mobile devices and that the financial industry will be the leading [...]
Of all the things we do online, managing our passwords has to be our least favorite. The horror stories are told over and over again – password phishing, stolen identities, data breaches. Billions of dollars are spent every year by business, government, and consumers in an attempt to safeguard our most cherished belongings: our identities. [...]
Banks keep making banking easier, and that means cutting down on branch visits or eliminating them altogether by giving customers really great mobile apps. Perhaps more than any type of business, banking and financial services firms increasingly rely on the sophistication and ease-of-use of their mobile applications to attract new customers and keep them. They [...]