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How Digital Banking is Transforming Fraud Detection

The financial services industry has and continues to undergo a massive transformation due to an increasingly digital world. 

New market entrants with agile infrastructures and digital mindsets are driving increased competition and putting pressure on banking profitability. Evolving regulations, such as PSD2 in Europe, will add more competition by enabling consumers to give third parties direct access to their account and payment data. Increased customer disintermediation- driven both by digital channels and these new competitors- make it harder for financial organizations to build relationships and brand loyalty using traditional method.

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In response, financial service organizations are undergoing a digital revolution. They are applying technology in new and innovative ways across all layers of decision making, product innovation, service delivery and customer connectivity to attract new customers and deliver the type of experience they expect. 

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