As the ways we spend and move our money go ever-more digital, fraud and identity theft have followed not far behind. The technology revolutionizing financial services has created new opportunities for fraudsters to exploit. But it also brings new tools that we can use to protect ourselves--including identity safeguards that are more high-tech, and definitely more convenient, than the passwords and nostalgic security questions of yore.
Eric Kraus, vice president of fraud, risk, and compliance solutions at FIS, believes that the benefits of our new financial technologies ultimately outweigh the risks. But he says consumers and financial institutions still have a long way to go to fully mobilize fraud prevention measures.
The way we move money is changing. Fast. We want control at the touch of a finger-print. We want to send money in real-time – to the other side of the world. We want everything in one place, integrated, seamless and on our devices. Ubiquitous, embedded, fast, standardized, frictionless and secure. Global finance trends are hurling towards a unanimous conclusion.
These are our Financial Futures.
Each episode, we size up the bleeding edge of fintech innovation and explore the trends that are already transforming the way the world pays, banks and invests across the globe. And the mechanisms we’ll need to prosper in this brave new landscape.
Is the world’s technology up to the challenge? Are we?