Top Online Banking Threats to Financial Service Providers in 2010

Trust is the foundation of any good relationship. And this has never been truer, or more vital, than with the relationship between financial services providers (FSP) and their customers. Without the confidence that their financial information is protected, consumers will be less likely to use online services. This will directly impact banks initiatives toward cost reduction and efficiency, a key goal around online services. While the consumer must exercise good judgment in how they dispense their personal information, the onus is on the FSP to provide a secure environment in which the customer can conduct their financial transactions.