Erosion of digital trust, with fed up consumers saying more needs to be done to protect their personal information. Consumers believe banks, retailers and mobile operators need to do more to protect them and their personal information from fraudsters. Trust in these organizations is eroding fast because consumers say they…
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Banking and telecommunication systems not compromised. The Infocomm Media Development Authority (IMDA), Monetary Authority of Singapore (MAS), and Singapore Police Force (SPF) said that malicious actors overseas had diverted and used SMS one-time passwords (OTPs) to perform fraudulent credit card transactions affecting 75 bank customers in Singapore. These transactions, amounting…
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Reducing the cost and inefficiencies of remittances between the two countries. The Monetary Authority of Singapore (MAS) and the Reserve Bank of India today announced plans to link Singapore’s PayNow and India’s Unified Payments Interface (UPI) real-time payment systems by July 2022. The PayNow-UPI linkage will enable users to make…
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Investment occurs due to digitally savvy customers. National Australia Bank (NAB) has continued to revitalise its branch network around the nation, as the bank adapts to the changing way Australians are choosing to do their banking. The transformation program has already been completed in 26 locations this year and will…
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Driven by agility, efficiency, and, thanks to 2020, resiliency. In IDC’s Worldwide Industry CloudPath Survey (May 2020), 57 per cent of banks responding to the survey said they already run in hybrid environments, with another 31 per cent moving to hybrid models in 12 months, and a further 9 per cent moving…
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Islamic bank turns to the Cloud for agility and speed. Indonesia-based Islamic bank PT Bank Jabar Banten Syariah (Bank BJB Syariah) has adopted Nutanix’s cloud platform to transform its IT infrastructure to a fully cloud-based approach, enabling the bank to gain speed and agility to keep pace with rapid market changes.…
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No sector was more regularly targeted than the financial sector The financial sector has seen a “staggering 238 per cent increase” in cyber attacks and ransomware attacks have increased nine-fold since the beginning of February to the end of April 2020. This is according to VMware Carbon Black’s third annual…
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Customers to automatically receive an itemised digital receipt Commonwealth Bank has chosen Australian fintech provider Slyp to come up with a digital product that will send itemised digital receipts in a customer’s banking app, after they’ve paid with their card or digital wallet at participating retailers. Slyp’s digital receipt…
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