Melissa IN Team | |
Today, customer convenience is the differentiating factor that matters most. It’s why banks allow customers to apply for loans online, it’s the reason customers can now open savings accounts without having to visit the bank.
That said, convenience must be balanced with security. Banks are already finding it hard to keep up with Card Not Present (CNP) transactions.
According to a Nilson report, payment card-related fraud could amount to $34.66 billion. Increasing efforts in fraud prevention are key to fighting this. This is where AML and KYC compliance comes in.Read more “AML KYC Compliance Discussed”