Viewpoints

Faced with such staggering figures, it’s easy to understand why financial institutions are tightening fraud controls. Yet in their efforts to protect customers, many are discovering an unintended consequence: overly rigid fraud systems that block genuine transactions and frustrate legitimate users.

In the race to innovate, many are taking on more than they need to - choosing to build new capabilities from scratch rather than partnering with proven solution providers. In doing so, they often underestimate the time, cost, and complexity involved.

Fraud today is complex, fast-changing, and multi-channel. Criminals adapt quickly, exploiting weaknesses in digital banking, new payment methods, and customer behaviour. Financial institutions are under constant pressure to strengthen defences, but without adding unnecessary friction to genuine customers.

For financial institutions, the challenge isn’t just spotting fraud in real time - it’s staying one step ahead of it. That’s where technology architecture becomes just as important as detection logic.

The answers to these questions will give an FI a very clear indication of how well placed they are to develop and maintain their mobile bank in-house.

As a vendor that has been invited to thousands of tenders, we are uniquely positioned to offer a different perspective and we have some pre RFI advice.

By empowering cooperatives with digital rails, the country can take a decisive step from cash to cashless - leaving no community behind.

One-size fits all loyalty programs are out and tailored rewards are a hugely important way to build meaningful relationships with younger customers. But is it enough?

In a world that is increasingly embracing alternative payments and modern technological principles, running a business on a platform built for yesterday’s payment methods is undeniably illogical.

As this generation is hyper aware of their options and choices, they are fickle and quick to jump ship if their financial institution doesn’t serve their everyday needs.