Three Ways Banks Can Improve Identity Authentication and Customer Data Privacy

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Digitalization is a double-edged sword for banks, especially when it comes to security. A massive shift to cloud and API-based ways of working has made the sector become more agile and innovative, but it has also opened the floodgates for identity theft. As interactions and transactions become more interconnected, even the simplest processes like opening a new account or making a balance transfer become riddled with security concerns. As financial services become more digital in nature, it’s important that banks think differently when using data analytics, security tools, and education to impr…

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