“How can I make my bank safe and keep those fraudsters out?”, “What are the latest approaches to enterprise fraud management in banks?”, “How can I pro-actively & quickly be compliant to ever changing regulatory norms?”, “Can compliance to regulations & enterprise fraud management go hand-in-hand?”
These are some common questions baffling bankers not just worldwide but especially in India, where the fraud scenario is pretty grim. According to the latest statistics published by Deloitte, 93% of bankers in India indicated that there has been an increase in fraud incidents in the last two years. Majority of the respondents also stated that the average time taken to uncover a fraudulent transaction was a little less than 6 months while they were only able to recover less than 25% of the lost amount.
In order to provide feasible solutions to such challenges, CustomerXPs, in association with CISCO, recently hosted an event “Secret Sauce for Fighting Financial Crime” at Hilton Mumbai on June 25, 2015. Senior bankers hailing from multinational banks as well as cooperative banks were amongst the invitees. The objective of the event was to discuss and exchange views on the recent trends and developments in Enterprise Financial Crime Management space.
Eminent speakers from the banking industry were invited to share their experiences on their fraud management journey and emphasize on the role of technology in combating enterprise financial fraud. Top-level executives from CustomerXPs and CISCO also spoke about the challenges faced by bankers in India and elaborated on building the bank of the future by implementing enterprise wide, cross-channel fraud prevention technology.
The event not only served as a great learning platform but also helped leaders from across the banking and technology industries to network and share ideas.
To know more about the event and its takeaways, email us at clari5@customerxps.com.
