For FIs in Asia Pacific emerging from or preparing to emerge from the pandemic, such as Singapore, Australia, Vietnam, and Taiwan, while confidence will be relatively higher, spending will be cautious, as maintaining substantial cashflow will remain a priority. Rather than overhauling fraud and compliance systems, FIs would likely choose to recalibrate, update and optimise their digital onboarding as well as payments and transaction monitoring technology. Investments would be specific to address prominent gaps and data intelligence. Alternative data to onboard more challenging cohorts, creating readiness against cyber endpoint threats, and relationship analysis may be considered to address acquisition growth strategy and growing volumes and complexity of online fraud attacks. … [Read more...] about GBG: Six predictions for the financial services and fraud landscape in 2021
