74% of Bankers Say Clients Would Switch Financial Institutions for Better Security
10 8월 2011 - 11:00PM
Fundtech Survey Reveals Security and Fraud
Prevention to be Major Banking Differentiators
66% of Bankers Believe Cyber Crime is
Uncontrollable
Fundtech Ltd. (Nasdaq:FNDT), a market leader in global transaction
banking solutions, today announced the results of a live poll
conducted at its annual North American Insights client conference
held in June. The poll, which surveyed nearly 100 banking
executives from over 50 US financial institutions, addressed many
of the most important issues on the banking industry's agenda.
Summary of Findings
Fraud & Cyber Crime
Fraud and cyber crime continue to be among the most daunting
issues that banks are facing today. Bankers believe it is a
challenge that they will never be able to get under control.
- 65% see fraud monitoring as their biggest challenge, up from
53% last year
- 84% think that better detection tools are the key to addressing
fraud
- 66% believe that the industry will never be able to get cyber
crime problem under control
- 79% think that only a small fraction of their business client
base understands their liability for fraudulent transactions
- 74% said that they think their SME customers would be willing
to change financial institutions for better security
Mobile Corporate Banking
Bankers have seen a significant increase in interest for mobile
banking services among their corporate clients.
- 44% said that they see strong current demand/interest from
their business clients, up from 26% last year – a 70% jump
- 51% see the strongest adoption of mobile services is among
their mid-size business clients; 37% say small business.
- Only 6% see large corporates as having the strongest adoption,
down from 29% from a year ago
Other topics:
The instant audience poll provided insight on a number of other
topics:
- 71% see regulation having a negative impact on their
business
- 56% report that their FX business is experiencing strong
growth
- 89% think that user experience has become a more important
competitive factor
- 54% said that they use social media in their professional
life
- 75% said that they use social media in their personal life
George Ravich, Fundtech Chief Marketing Officer, said:
"According to our survey, addressing fraud is the banking
industry's most pressing problem. With little expectation that
cyber attacks will be brought under control anytime soon, banks,
their customers, and their technology suppliers must collaborate in
order to effectively quell this growing challenge."
Ravich continues: "We were not surprised to see bankers
reporting a significant jump in interest for mobile banking
services among their business clients. Our survey reveals that 44%
of the bankers report strong current demand, up from 26% last year
– a jump of 70%. With the growing momentum in the market for
everything mobile – this is an area of great opportunity for banks
who fully embrace the mobile channel for their business
customers."
About Fundtech
Fundtech (Nasdaq:FNDT), was founded in 1993, and is a leading
provider of software and services to banks of all sizes around the
world. Payments systems include wire transfers, ACH origination,
cross-border payments and remittance. Cash management systems are
designed for large corporate through small business clients.
Fundtech operates the world's largest SWIFT service bureau. We
offer an extensive line of financial supply chain applications
including electronic invoice presentment and supply chain
financing. And we are the leading provider of CLS systems to the
world's largest banks. More than 1,000 clients throughout the world
rely on Fundtech solutions to improve operational efficiency and
provide greater competitiveness through innovative
business-to-business services. For more information, visit
www.fundtech.com.
Forward Looking Statements:
This news release contains forward-looking statements made
pursuant to the safe-harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such statements may include, but are
not limited to, projections of revenues, income or loss, capital
expenditures, plans for growth and future operations, competition
and regulation. Forward-looking statements are inherently subject
to risks and uncertainties, many of which cannot be predicted or
quantified. When used in this Release, the words, "estimates,"
"expects," "anticipates," "believes," "plans," "intends," and
variations of such words and similar expressions are intended to
identify forward-looking statements that involve risks and
uncertainties. Future events and actual results could differ
materially from those set forth in, contemplated by or underlying
the forward-looking statements. The factors that could cause actual
results to differ materially from those discussed or identified
from time to time in Fundtech's public filings, including its
Annual Report on Form 20-F for the year ended December 31, 2010,
including general economic and market conditions, changes in
regulations and taxes and changes in competition in pricing
environment. Undo reliance should not be placed on these
forward-looking statements, which are applicable only as of the
date hereof. Fundtech undertakes no obligation to revise or update
these forward-looking statements to reflect events or circumstances
that arise after the date of this Release or to reflect the
occurrence of unanticipated events.
CONTACT: Press Contacts:
(UK) Chanda Gathani - Metia Inc.
+44 (0) 20 3100 3605
chanda.gathani@metia.com
(USA) Binna Kim, Cognito
+1 646 395 6304
Binna.Kim@cognitomedia.com
Corporate Contacts:
George Ravich - Fundtech Ltd.
+1-201-215-6530
george.ravich@fundtech.com
Fundtech Ltd. (MM) (NASDAQ:FNDT)
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