Jim Pitts, project manager of the BITS Financial Services Roundtable, explains why he tells his FI members to expect the worst when it comes to customers’ personal phone security. (From a panel at the ATM & Mobile Executive Summit.)
Assume all handsets are compromised
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Digitally minded consumers are forcing financial institutions to rethink the way they do business. These consumers want to bank when and how it suits them. Financial institutions must innovate quickly to keep up with consumer demands and to respond to challenges from non-traditional competitors.
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