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Future-proofing fraud prevention in digital channels

The panel

  • Michelle Weatherhead, Asia-Pacific Operations Director, GBG
  • Ali Suha Ter, Head of Enterprise Risk Management, Mox Bank
  • Arvind Swaminathan, Associate Partner, McKinsey

Most Asia-Pacific (APAC) financial institutions are equipped with point solutions and processes to serve the industry. However, these organisations are rethinking their near- and long-term fraud prevention strategies in order to succeed in digital expansion and new digital product rollouts.

GBG’s APAC banking and finance market research, Futureproofing fraud detection in digital channels, conducted in June 2020, observed the following measures taken by key finance and banking personnel in Malaysia, Indonesia, Thailand, Vietnam, China and Australia to evolve their organisations and thrive in the digital age:

  • Provisioning digital finance products that offer instant gratification (focus by an additional 30% of respondents)
  • Creating sustainable differentiation to manage fraud and future-proof digital offerings through end-to-end fraud management (66% of respondents)
  • Locking in funds to set up a digital fraud management platform (52% of respondents).

This webinar explores how financial institutions are future-proofing fraud detection in digital channels, their approaches and considerations in building digital access and growth while balancing fraud management.

Key topics discussed:

  • Concerns with expanding digital products and channels
  • Types of budgeted fraud investments to pre-empt emerging and future digital fraud typologies
  • How early adopters are already future-proofing fraud detection
  • Building mindshare and digital trust with consumers from branch to online
  • Sustaining a completely online business model while up against multifaceted financial crimes.
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