Background

Banking institutions and other organizations must change the way they think about mobile, says James Van Dyke of Javelin Strategy & Research.

"Banks can play offense, to use mobile in a justifiable way to engage customers into their security," Van Dyke says in this session recorded at the 2014 San Francisco Fraud Summit. "They can actually use mobile to stop security threats in all channels" if they can get outside their standard box of thinking.

The problem for most companies is that their departments and expertise are siloed. Even among fraud and security teams, a number of silos can exist that hinder cross-channel information sharing that could greatly benefit fraud prevention, Van Dyke says.

During this session, Van Dyke also discusses:

• Why banks and credit unions don't have a realistic perspective about how consumers perceive mobile financial services;
• Steps the industry must take to create a real roadmap for future mobile payments use and adoption.

ISMG's Fraud Summits are one-day events focused exclusively on the top fraud trends impacting organizations and the mitigation strategies to overcome those challenges.

• 2014 Faces of Fraud
• Trends in Account Takeover: Social Engineering & Evolving Malware
• The Danger Within: Responding to Unintentional and Intentional Insider Threats
• Big Data Analytics & Fraud Detection
• Threat Intelligence & the Underground Eco-System
• How to Fight Fraud with Artificial Intelligence and Intelligent Analytics
• Fraud Investigation Life-Cycle: From Forensics to Working w/ Law Enforcement
• Mobile: Security Risk or Strength?
• Payment Card Fraud, EMV Adoption & the Merchant Challenge
• Future of Payment Card Security
• Top Fraud Threats to Watch in 2014: Technology and Legal Ramifications