Most Singaporean consumers using mobile banking applications want their mobile devices to instantly recognise them via biometrics such as fingerprint and voiceprint, instead of having to prove who they are with passwords and usernames.
More than 40% of the volume of leaked personal data in 2014 originated from the banking and financial services industry, according to InfoWatch’s Global Data Leakage report for the year.
IT services, consulting and business solutions organisation Tata Consultancy Services (TCS) announced it has expanded its presence in Singapore with the opening of a new 1,000-person TCS Singapore Banking and Financial Services (BFS) Centre.
Predictive analytics and decision management software company Fico said that the largest private credit reporting agency in Malaysia, CTOS Data Systems Sdn Bhd, will offer Fico Scores to all its clients beginning early 2015.
Despite understanding the benefits that they can reap by upgrading their technology infrastructure, many local banks in Asia are still hesitant to embark on an IT transformation, said a senior official from IT and consulting firm Wipro.
With an Internet population expected to grow to 41 million In 2014, more people in the Philippines are taking to social media sites to voice their opinions and thoughts, including issues concerning the banking, financial services and insurance industry (BFSI) in the country.