Financial Services providers are dealing with the changing face of customer interactions. At many institutions, mobile logins have surpassed online logins, and consumers are voicing their demand for more mobile services. The FFIEC has even called for financial institutions to create a focused security strategy for mobile financial services.
This shift towards mobile puts extreme pressure on those in the financial services industry to raise the bar on security while balancing consumer convenience and experience. However, we know that many financial service mobile apps have security vulnerabilities. Businesses may be at risk of losing customers to other providers that can offer a more secure experience.
This InAuth White Paper takes a look at some specific sections of the FFIEC recommendation to illustrate how next-generation device intelligence technology like InAuth can enable FIs to mitigate risk in the mobile channel.
This white paper will examine “Know YourDevice” (KYD) as a method to not only protect against fraud, but also enhance your customer’s digital channel experiences and compete in a crowded marketplace.