CYBERSECURITY
getting credit cards , loans , mortgages , and so on – are those aged between 25-40 , the need to balance convenience and security in a way that provides minimal friction to the user becomes even more critical .
Ultimately , banks will begin to lose their foothold if they cannot meet the demands of their customers . This is why user experience and design thinking needs to be an integral part of any digital risk management strategy .
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What can businesses do to mitigate the risks and ensure consumer trust remains high ?
In such a fast-moving and competitive industry , fintech startups could potentially be at risk of viewing security as something as an after-thought on occasion , or worse – something the big banks should worry about ; prioritising user experience over stringent security controls and processes . But this is something of a false economy as these organisations are , by their very nature , less established and therefore more fragile to reputation damage .
History tells us that if a well-known high-street brand suffers a data breach
DECEMBER 2019