Fraud attempts will escalate, not diminish, as new threats and channels blossom in 2011. Growth in mobile banking and the use of social networks are expected to pose new security challenges, experts say.
Dmitri Alperovitch, McAfee Labs threat research vice president, discusses the company's annual threat predictions, saying: "We are seeing an escalating threat landscape in 2011."
Devising strategies for ensuring social media are not used in ways that violate patient privacy is one of the top trends for 2011, says Lisa Gallagher, senior director of privacy and security at the Healthcare Information and Management Systems Society.
Aite's McNelley says financial institutions will have to partner with existing innovators and vendors that specialize in mobile commerce if they want to keep up.
"Where mobile payments are concerned, I don't want to say banks will be taken to the cleaners, but I think that's where their biggest threat is," says Avivah Litan of Gartner.
Self-service, enhanced privacy, cloud-based services - these are among the trends that will shape banking over the next decade. What can banking institutions do now to prepare?
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