USER ID and PASSWORD is most commonly used credentials for Digital Banking access, so we need to deliver them to the customers who would like to use our online or mobile banking. In order to facilitate this, there are flows and processes created
– that we think pretty secure and easy to use. Well... Our clients may not agree with this - what looks simple to us, may be seen burdensome. We are losing so many clients in digital banking application processes. Also When the OTP (one time password) tools
and other requirements come into the party, everything becomes even more difficult.
Our clients’ digital banking needs are NOT unique: some may like to use all functions (this is what we want too) but some others use it for inquiry only, or prefer to disable risky transactions. That means
FULL USE, LIMITED USE and INQUIRY ONLY USE of digital banking channels are possible. Then we can ask ourselves, should we deploy the same level of security for different type of usage or we might differentiate our security settings / procedures
depending on the Usage type so that we may turn this into our advantage at the time of the on boarding by making minimum required security checks.
This is the short version of the post.
Starting from Tip 2 to Tip 30 only short versions of my posts are available at Finextra. From Tip 31, full (long) versions of my posts can be read here.