Banking, finance and insurance companies are right in the middle of technological, demographic and social transformations that require them to redefine their products and services.
The demand of consumers for personalised, flexible and transparent services is forcing banks to innovate. However, banks are faced with a huge challenge because they have to offer differentiated services all the while controlling the cost of deploying these services.
There is an increasing number of cyberattacks against banks. There is an increasing number of cyberattacks against banks. In February 2016, hackers stole $81 million from the central bank of Bangladesh through the Swift fund transfer system (a network that carries out 25 million fund transfers each day). The cyberthreat has forced financial institutions to react, and they are spending to secure their clients’ data and funds.