145-logo
Are You Ready for the Wave of Mobile Wallet Fraud?
Chet Van Wert | Jul 7, 2016
Title: Writer
Topic category: Enterprise

On June 14, 2016, Javelin Strategy & Research released a study highlighting the risks and opportunities for financial institutions considering a branded mobile wallet. Predicting that nearly 90 million consumers will be using wallets by 2019, the stream of revenue and transaction data for providers looks irresistible. Banks will have to participate.

"There is going to be a tidal wave of pressure on criminals” to attack mobile wallets, predicts Al Pascual, research director and head of fraud and security for Javelin. He cited lessons learned when Apple Pay debuted in 2014 and more than 100,000 accounts were established with stolen credentials. "The banks were feeling pressure to not be left behind with Apple Pay, so they signed on, and didn't have strong enrollment processes in place," said Pascual.

More secure authentication methods are crucial this time around. Fortunately, the study found that consumers are willing to trade some ease-of-use for better security, which is their top priority.

SOURCE:
David Heun |Apr 18, 2016
Tags: mobile wallet, bank security, mobile banking, mobile authentication, financial account security, bank fraud
comments powered by Disqus
Avaya's Next-Gen Banking Solutions Deliver High-Quality, Omnichannel Customer Experiences
Some_smart
Give Your Banking Customers Instant Gratification

Borderless communications, let’s face it, is the way we do business. Amazon might be the prime example (excuse the pun). If you can give your customers instant gratification, wherever they are, they'll become loyal and profitable customers.

What do you, as a financial services company, need?

A carefully selected, IP-based collaboration platform that offers you the right features, ease of use and an attractive cost of ownership so you can compete in the global economy.

The result? You can offer IP voice, video and data collaboration over any network-connected device – especially including mobile devices.

Avaya is the one technology partner that can help enable the business process changes you need to effectively engage your customers.

Deliver the features that create loyalty, build long term relationships.
Some_smart
Deliver a Connected Customer Experience That Generates Growth

Customer experience management (CEM) gives customers a feeling of empowerment that will benefit your banking business. Customers expect immediate and engaged service from every business partner or vendor they work with. And they want it now.

To be successful, you need to measure your omnichannel engagement strategy against the following elements:

  • Timeliness – Are you proactive or reactive?
  • Relevance – Do you bring real value to the contact?
  • Personalization – Do your customer conversations revolve around the customer or you?
  • Frictionless – Do you force the customer to wade through options without guiding them?

Avaya delivers the right, flexible and integrated technologies in a simple-to-deploy package to deliver on all these elements. The result? Better customer experiences equal better profitability.

How to offer personalized, frictionless customer experiences that promote loyalty.
Its_promotional
What’s a Seamless Omnichannel Experience?

Avaya engaged Dynamic Markets to conduct a study of financial services companies and customer experience management (CEM). The study found a very strong link between CEM activity and business success.

Indeed, among those financial services companies with a comprehensive CEM program, 98% have seen improvements such as higher retention, greater customer loyalty, increased satisfaction, and increases in customer spend. But with so many channels and touch points in use, businesses need to find easier ways of managing the engagements that enable them to proactively provide outstanding, personalized experiences for every one of their customers.

Ideally, all customer interactions should be:

  • Timely: proactive, not reactive
  • Relevant: Bringing real value to the customer
  • Personalized: speaking to the individual
  • Frictionless: easy to navigate

Many businesses cannot deliver a completely blended customer experience because they lack the solutions required to orchestrate highly relevant and connected customer experiences. In fact, only 48% of the financial services companies surveyed are able to provide customer-facing staff with a single customer view in real time. Only 39% say they can link together, in real time, all threads of communication across different channels (e.g. web, phone, social media etc.).

To help organizations overcome this challenge, Avaya offers end-to-end customer experience solutions that are designed to eliminate the fragmented, high-effort service that jeopardizes customer loyalty and revenue growth. These solutions are engineered to work together seamlessly, automatically sharing the detailed customer information needed to deliver timely, relevant, and personalized service.

When Avaya customer experience solutions are interconnected with existing mobile, web, and contact center channels, the customer sees one company and the organization sees one.

Learn more about delivering seamless omnichannel customer experiences that drive growth and profitability.

Master the art of customer engagement.

Get_yourself
Get Up To 60% Off On an Avaya Contact Center.

Now’s the time to switch and supercharge your existing contact center to an Avaya solution for up to 60% off our standard pricing.

True omnichannel. Avaya’s complete solution includes self service, mobile and video. And no hard phones are required! Your software licenses provide agent soft phone capabilities-including video.

We’ll help you plan the transition you need, on the timeline you want, at your own pace, with support to formulate the right migration strategy, roadmap, and metrics to ease the transition.

It's an Easy Migration. Learn More.