CYBERSECURITY
62
“The challenge for businesses as they digitise their services is to quickly and confidently verify customer identity ”
— Rupert Spiegelberg , CEO , IDNow
— Rupert Spiegelberg CEO , IDNow recognition software , organisations are able to achieve this and , as a result , offer more services online which may previously have been limited due to age or legal restrictions , such as online gambling , applying for a credit card or mortgage , or even renting a car .
This demand for instant gratification is no different in the financial industry – consumers want quick and easy access to accounts , loans and mortgage applications , and as a result more and more transactions are moving online . Both challenger banks and traditional banks are moving towards a more digital centric approach : for challenger banks , this provides a perfect platform to gain a more aggressive market share ; traditional banks are looking to modernise and adapt to cater for a more digitally driven generation .
However , in a world where data breaches are becoming commonplace , persuading a customer to share their personal and financial details online requires two important things : trust in the institution and a positive user experience . Fail on either of these levels and the customer will likely
APRIL 2019