Back to All Blog Posts

The Double-Edged Sword of Mobile Banking

Man looking through his phone and comparing data on his laptop

Adoption of mobile banking was already accelerating prior to the pandemic, but the disruption emerging from the onset of COVID-19 has put the pedal to the metal. For younger generations, mobile-first banking is increasingly the norm, with Gen-Z favoring the mobile channel at 56%.

Does increased mobile banking inevitably lead to increased fraud at financial institutions? Not necessarily, but FIs must prepare for new fraud threats and walk a fine line with their mobile channel. Move too quickly, and institutions and customers could face significant fraud losses. Move too slowly, and institutions could face customer churn.

On this episode of the Financial CrimeCast, we’re joined by Brian Keefe, Portfolio Pre-Sales Consultant with NICE Actimize, to explore how can FIs find the right balance when it comes to mobile banking. He provides insights on current fraud trends in mobile banking, strategies for winning the war against mobile banking fraud, and why FIs should assume that any device is already compromised.

See What Certified Financial Crime Specialists Are Saying

"The CFCS tests the skills necessary to fight financial crime. It's comprehensive. Passing it should be considered a mark of high achievement, distinguishing qualified experts in this growing specialty area."

KENNETH E. BARDEN 

(JD, Washington)

"It's a vigorous exam. Anyone passing it should have a great sense of achievement."

DANIEL DWAIN

(CFCS, Official Superior

de Cumplimiento Cidel

Bank & Trust Inc. Nueva York)

"The exam tests one's ability to apply concepts in practical scenarios. Passing it can be a great asset for professionals in the converging disciplines of financial crime."

MORRIS GUY

(CFCS, Royal Band of

Canada, Montreal)

"The Exam is far-reaching. I love that the questions are scenario based. I recommend it to anyone in the financial crime detection and prevention profession."

BECKI LAPORTE

(CFCS, CAMS Lead Compliance

Trainer, FINRA, Member Regulation

Training, Washington, DC)

"This certification comes at a very ripe time. Professionals can no longer get away with having siloed knowledge. Compliance is all-encompassing and enterprise-driven."

KATYA HIROSE
CFCS, CAMS, CFE, CSAR
Director, Global Risk
& Investigation Practice
FTI Consulting, Los Angeles

READY TO BEGIN YOUR JOURNEY TOWARDS
CFCS CERTIFICATION?