“ USER EXPERIENCE AND DESIGN THINKING NEEDS TO BE AN INTEGRAL PART OF ANY DIGITAL RISK MANAGE- MENT STRATEGY ”
— Daniel Cohen , Director of Fraud & Risk Intelligence , RSA Security or significant increase in fraud , it ’ s not likely to suffer irreparable damage . Smaller companies may not fare so well . This is why it ’ s essential for smaller fintechs to have clear digital risk management policies , and work in partnership with the larger financial institutions to achieve a scalable and secure fintech industry . They should consider that digital opportunity and risk are two sides of the same coin – having the ability to manage risk enables you to embrace business opportunity .
Traditional players need to create a digital risk management strategy that serves a much wider range of customers – from the grandmother in West Wales , to the millennial at university in London . This is no mean feat , as simple solutions such as text authentication might not work for Molly in Aberystwyth . This is why it is vital to take a holistic approach to managing digital risk .
You mentioned user experience and a focus on personalised services , does that shift bring about any new risks , or change the way in which cybersecurity is addressed ?
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