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CULTURAL SHIFT VITAL FOR BUSINESS SURVIVAL IN AGE OF ANALYTICS, REVEALS RESEARCH

A cultural shift in attitudes to analytics will be essential for businesses to compete in the age of digital transformation, *research has revealed.

A quarter of the 500 professionals surveyed by MHR Analytics said resistance from senior management was preventing their company from adopting analytics, suggesting that many could be left behind as their forward-thinking competitors advance.

A further 23 percent said their company’s traditional reliance on manual spreadsheets was holding them back from taking advantage of widely available technology.

The survey of finance and technology professionals working in large UK organisations was conducted by MHR Analytics and Censuswide to understand the barriers some companies face in progressing their analytics capabilities, and their technological aspirations for the coming decade.

Internationally acclaimed AI expert Bernard Marr and MHR Analytics have released a guide entitled “Advancing with Analytics: Spreadsheets to AI,” to help break down these barriers.

It includes practical tips and examples from a range of organisations that have managed to move away from error-prone spreadsheets and adopt more sophisticated analytics, and even artificial intelligence (AI).

“For me, the examples in the guide demonstrate how the data maturity journey is about taking manageable steps, rather than huge leaps,” said Marr.

“From better planning and decision making, to smoother operations and automated processes, data analytics fuels business improvements. Yet, for the average business, adopting advanced analytics techniques like AI is never going to be an overnight shift,” he said.

“Adopting more advanced analytics can seem like a mammoth, unachievable task. That’s why I prefer to think of analytics as a journey, with analytics techniques gradually becoming more advanced as you progress further along the road.”

“A business advances on this journey one stage at a time, gradually meeting more and more business needs through data analytics.”

“Progressing to planning analytics – stage three of the data maturity journey – tends to be a key milestone for most businesses, since this is the stage that bridges the gap between basic reporting and more exciting, forward-looking technologies. Therefore, I have placed more emphasis on planning analytics in the guide than the other four phases,” he added.

Other barriers to advancing analytics revealed in the MHR Analytics survey included a perceived lack of skills within organisations, siloed working practices and concerns about data quality, data protection and security.

In addition to Marr’s Spreadsheets to AI guide, MHR Analytics has also provided a data maturity quiz to help organisations find out where they are on the data journey and receive free tailored advice about how to progress with analytics to remain competitive.

Ranked by LinkedIn as one of the world’s top five business influencers, Bernard Marr regularly contributes to the World Economic Forum and is a strategic business and technology advisor to businesses and companies around the globe.

 

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SONY BANK SECURES AND ENHANCES MOBILE BANKING WITH ONESPAN’S MOBILE SECURITY SUITE

SONY BANK

App shielding, biometric authentication and additional technologies secure and improve the customer experience for Sony Bank’s mobile banking app

 

OneSpan™ (NASDAQ: OSPN), the global leader in securing remote banking transactions, today announced that Sony Bank is protecting its mobile banking transactions with OneSpan’s Mobile Security Suite. OneSpan helps the bank secure and improve the customer experience by detecting and preventing mobile threats in the background, while integrating convenient features like facial recognition and fingerprint biometrics.

 

Mobile banking adoption continues to increase and the frequency of mobile attacks like malware and trojans continue to rise. Sony Bank was able to address both customer experience and security by launching its banking app and securing it using OneSpan’s suite of mobile SDKs. Mobile Security Suite integrates application security, biometric authentication and Application Shielding, which detects and mitigates fraudulent activities and helps ensure the integrity and protection of apps and data.

 

“Addressing security and customer convenience was key for us, and with OneSpan’s solutions we are able to achieve both,” said Sony Bank Senior Manager of the Systems Planning Department, Shuichiro Sumimoto. “The technology comprehensively protects the device and the application, while providing an easy way for our customers to complete mobile transactions.”

 

“OneSpan’s Trusted Identity solutions enable banks to simultaneously fight an ever-increasing number of threats while ensuring a seamless and easy customer experience,” said OneSpan CEO, Scott Clements. “With Gartner predicting that by 2022, at least 50% of successful attacks against mobile apps could have been prevented using in-app protection,[i] Sony Bank is taking the right steps to future-proof its business.”

 

While mobile threats are on the rise, so too are regulations designed to make banking more secure and transparent. In particular, the global move toward Open Banking has triggered regional regulations such as the Amended Banking Act of 2017 or the Second Payment Services Directive (PSD2) in Europe. Using OneSpan’s technology, Sony Bank can address today’s PSD2 requirements with the aim of using the technology to address potential future regulations.

 

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KOREA’S KB BANK USES TRUSTONIC IN-APP PROTECTION TO ENHANCE MOBILE BANKING EXPERIENCE

MOBILE BANKING

Using Trustonic Application Protection enables KB Bank to dramatically improve the authentication experience for users of its mobile banking app and allow secure high value transactions

 

Mobile cybersecurity leader, Trustonic, today announces the successful implementation by KB Kookmin Bank (KB Bank) of Trustonic Application Protection (TAP™) to enable a simpler authentication experience for users of its KB Star Banking app. By combining TAP with its new digital authentication certificates, the bank is dramatically simplifying customers’ access to banking services and enabling them to authenticate higher value transfers in-app, without the need for cumbersome user authentication practices like security tokens.

The largest Korean bank by number of mobile users, KB Bank provides online and mobile banking services to over 10 million customers. Trustonic’s mobile application protection is enabling the bank to provide faster, simpler and more secure digital banking services by isolating authentication certificates in the hardware security of today’s smartphones. Since launching in summer 2019, the app has acquired 3 million active users, and adoption among KB Bank customers continues to grow rapidly.

Mr. Han, Senior Executive Vice President, Kookmin Bank commented: “In Korea, users need to install authentication certificates to use mobile banking services. This can be a complex and time-consuming process that often requires revalidation and multiple passwords. With our long-standing partner Trustonic, we are able to vastly improve the in-app user experience and allow our users to authorize much higher value transactions. Some security solutions make you choose between security, user experience and performance but with TAP there’s no compromise.”

 

Enhancing user experience & enabling high-value transactions with advanced security

Historically, public certificates need to be regularly renewed by the app user, which can be frustrating and time consuming. Now, because the new KB Mobile Certificates have the advanced in-app protection provided by TAP, they do not need to be renewed unless revoked by the customer or unused for one year. This significantly simplifies and enhances the user experience.

High-value in-app payments are now possible because of this advanced protection. KB Bank customers can transfer up to 2 million won (approx. $1,700 US) using their account password, and up to 50 million won (approx. $41,000 US) with a password and six-digit PIN. Amounts between 50 million won and 500 million won (approx. $413,000 US) can be verified by entering their password and PIN before receiving an additional authentication code via an automated phone call.

 

Improving in-app functionality through trust

The TAP in-app protection platform protects mobile applications by securing sensitive code, data and processes in a highly protected environment. The environment dynamically upgrades over the course of an app’s lifecycle to take advantage of the most advanced hardware and software security technologies available on smartphones. Banking, payment, acceptance and fintech app developers benefit as they can use the TAP SDK to build secure next-generation experiences.

Dion Price, CEO of Trustonic, says: “Korea’s certificate-based authentication infrastructure has historically limited the user experience for mobile banking apps. By making its banking app more seamless and secure with Trustonic’s unique combination of hardware and software in-app protection, KB Bank has vastly improved the user experience. This is a perfect example of how advanced security can enrich apps for end users, which is why TAP is being adopted to protect financial services across payments, banking, fintech and mPOS.”

For more information about how TAP is enhancing both security and user experiences, visit the Trustonic website.

 

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