Nowadays, Banks can’t avoid having solutions for real-time transaction monitoring. Also, it is strongly recommended to stop implementing multiple vendor solutions and switch to the adoption of unique platforms capable of managing the correlation of channels and products with unique management.
We can’t deny how juggling between vendors and the wide range of services in place is not easy. Here is why it is helpful to follow Gartner guidelines about supporting digital businesses in purchasing fraud detection products in the banking world.
One of the helpful points about supporting Security and Risk Management leaders (SRM) in choosing the most modern and innovative anti-fraud solution is remembering the importance of identifying key drivers. SRM leaders must convince management about the urgent need to modernize the bank’s approach to fraud protection.
If this doesn’t happen, the status quo will always be preferred.
The main message here is a need to shift from a channel and product-focused approach to a customer one. How to achieve it?
Embracing a customer-centric approach to fraud detection and choosing a single platform capable of managing the correlation of channels and products.
The Cognitive Security Platform® (CSP) is a threat and omnichannel fraud protection solution designed to defend digital businesses, minimize the risks associated with providing digital financial services (home banking and digital payments) and avoid any impact on user experience.
The omnichannel view lets you manage all fraud that could affect separate channels from a single console, avoiding vertical management.