Account takeover is one of the biggest threats that banks are facing today. With 3.8 billion data records compromised worldwide in 2018, it is evident that despite implementation of cybersecurity measures, digital channels remain vulnerable.
Adversaries have a variety of weapons at their disposal, which makes effective protection a challenge. To make matters worse, legacy anti-fraud solutions are falling short of accurately evaluating the risk.
To stay ahead of their opponents, financial institutions need to reconsider their authentication process and move to contextual authentication. In light of PSD2, European banks already focused on Strong Customer Authentication (SCA).
With the right multi-layered security approach, financial organisations can help prevent account takeover fraud and secure customers at every stage of their digital journeys.
Join this FinTech Futures webinar, in association with OneSpan, to hear industry experts discuss the following, and more:
- The current landscape of digital attacks and threats that leave banks vulnerable
- Best practices approach to protecting against account takeover fraud with proven technologies such as machine learning-based risk analytics
- Why real-time, cross-channel data analysis can save your customers from becoming the next victim