Financial institutions such as banks are among the most vulnerable to cyber breaches, with cybercriminals always on the look-out for new ways to attack. According to a report from Accenture and Ponemon Institute, the theft of sensitive data in the industry has tripled over the past five years and as a result, financial institutions such as banks are increasingly incorporating technological innovations into their work to stay one step ahead.
With the changing banking landscape, security solutions are also evolving with the cloud, AI, blockchain, and digital banking services. Solution providers are exploring the use of clear-box machine learning to improve fraud detection with simpler rule sets and less intervention; behavioral analytics to detect anomalies for a specific person based on their historical norms; insights from crowd-sourced digital identity intelligence; integration of low-friction strong customer authentication with risk-based authentication to prevent negative effects on the user experience; and much more.
A distinguished selection panel comprising CEOs, CIOs, VCs, and the magazine’s editorial board has selected a list of the top banking security solution providers that leverage innovative technologies and strategies to enhance today’s banking security solutions for the benefit of financial institutions such as banks. This edition of Banking CIO Outlook features companies with expertise in banking security measures and technologies to update you about the best banking security solutions you can choose from to grow revenues with enhanced customer experience, attract new customers, earn stronger customer loyalty, and boost lifetime values.
We present to you Banking CIO Outlook’s “Top 10 Security Solution Providers - 2018.”