Banking security in 2020: what to expect

  • “As technology continues to develop at pace, in 2020 we will see more banks begin to adopt artificial intelligence (AI) paired with machine learning (ML) to offer their customers enhanced security features.
  • As businesses currently lose an average of 7% of their annual expenditure to fraud and 2017 seeing a record 16.7 million victims of identity fraud, the use of AI and ML should see this figure reduce.
  • More people will be able to make payments through fingerprints and facial recognition and by 2023 it is estimated there will be over 2.6 billion biometric payment users.”

(Image credit: / Nicescene)

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