Fraud Comes Storming Back
ORLANDO, Fla.-Fraud is likely to continue growing, noted several analysts. "I think we have been so eager to get our customers to use our systems that we have been downplaying the security risks," said Jeanne Capachin of IDC Financial Insights. "It's time now to really provide some education and makes tools available, and if they aren't taking advantage of the tools they near to bear some of the responsibility.
Raju Shivdasani of Harland Financial Solutions noted his firm has made a considerable investment in security around its Internet-based banking business. "It's probably the one thing in our Internet and mobile banking that is most top of mind, even more than feature function," he said. "I just don't know how individual organizations now can run those Internet banking servers and mobile banking servers and provide the level of security. Community banks and credit unions really need to think about outsourcing anything that has to do with Internet banking."