Enhanced Security Tops Singapore Banking Customers’ Wishlist Amid Rising Fraud Fears: FIS Survey
A new FIS survey of over 1,000 Singapore banking customers reveals enhanced security as their top online banking priority. 56% of respondents believe online banking fraud attempts are increasing, with Millennials experiencing the most incidents. The survey found:
1. 92% of consumers are concerned about online banking fraud
2. 'Money lock' to prevent withdrawals is the most desired security innovation
3. 86% prioritize feeling confident their personal information and assets are secure
4. 51% of fraud victims received full refunds from their banks
The survey also highlights a need for balance between convenience and security in online banking interactions. FIS is investing in AI and machine learning to help banks combat sophisticated fraud attempts and protect customer trust.
Un nuovo sondaggio di FIS su oltre 1.000 clienti bancari di Singapore rivela che la sicurezza potenziata è la loro principale priorità per il banking online. Il 56% degli intervistati ritiene che i tentativi di frode nel banking online stiano aumentando, con i Millennial che sperimentano il maggior numero di incidenti. Il sondaggio ha rivelato:
1. Il 92% dei consumatori è preoccupato per la frode nel banking online
2. La 'blocco soldi' per prevenire i prelievi è l'innovazione di sicurezza più richiesta
3. Il 86% dà priorità alla sensazione di avere informazioni personali e beni al sicuro
4. Il 51% delle vittime di frode ha ricevuto rimborsi completi dalle proprie banche
Il sondaggio evidenzia anche la necessità di un equilibrio tra convenienza e sicurezza nelle interazioni bancarie online. FIS sta investendo in AI e machine learning per aiutare le banche a combattere tentativi di frode sofisticati e proteggere la fiducia dei clienti.
Una nueva encuesta de FIS a más de 1,000 clientes bancarios de Singapur revela que la seguridad mejorada es su principal prioridad en la banca en línea. El 56% de los encuestados cree que los intentos de fraude en línea están aumentando, siendo los Millennials quienes experimentan más incidentes. La encuesta encontró:
1. El 92% de los consumidores está preocupado por el fraude en la banca en línea
2. El 'bloqueo de dinero' para evitar retiros es la innovación de seguridad más deseada
3. El 86% prioriza sentirse seguro de que su información personal y bienes están protegidos
4. El 51% de las víctimas de fraude recibió reembolsos completos de sus bancos
La encuesta también destaca la necesidad de un equilibrio entre conveniencia y seguridad en las interacciones bancarias en línea. FIS está invirtiendo en IA y aprendizaje automático para ayudar a los bancos a combatir intentos de fraude sofisticados y proteger la confianza del cliente.
1,000명 이상의 싱가포르 은행 고객을 대상으로 한 FIS의 새로운 설문조사에서 강화된 보안이 온라인 뱅킹의 가장 중요한 우선사항으로 나타났습니다. 56%의 응답자는 온라인 뱅킹 사기 시도가 증가하고 있다고 믿으며, 밀레니얼 세대가 가장 많은 사건을 경험하고 있습니다. 설문조사 결과는 다음과 같습니다:
1. 92%의 소비자가 온라인 뱅킹 사기에 대해 우려하고 있다
2. 인출을 방지하기 위한 '돈 잠금' 기능이 가장 바라는 보안 혁신
3. 86%가 자신의 개인정보와 자산이 안전하다는 확신을 느끼는 것을 우선시 한다
4. 51%의 사기 피해자가 은행으로부터 전액 환불을 받았다
설문조사는 또한 온라인 뱅킹 상호작용에서 편리함과 보안 간의 균형이 필요하다는 점을 강조합니다. FIS는 AI 및 머신 러닝에 투자하여 은행이 정교한 사기 시도를 방어하고 고객 신뢰를 보호할 수 있도록 돕고 있습니다.
Une nouvelle enquête de FIS auprès de plus de 1 000 clients bancaires de Singapour révèle que la sûreté renforcée est leur principale priorité en matière de banque en ligne. 56% des répondants pensent que les tentatives de fraude en ligne augmentent, les Millennials étant ceux qui connaissent le plus d'incidents. L'enquête a révélé :
1. 92% des consommateurs s'inquiètent de la fraude en ligne
2. Le 'verrouillage de l'argent' pour empêcher les retraits est l'innovation de sécurité la plus souhaitée
3. 86% privilégient la sensation de sécurité quant à la protection de leurs informations personnelles et de leurs biens
4. 51% des victimes de fraude ont reçu des remboursements complets de leurs banques
L'enquête souligne également la nécessité d'un équilibre entre commodité et sécurité dans les interactions bancaires en ligne. FIS investit dans l'
Eine neue FIS-Umfrage unter mehr als 1.000 Bankkunden in Singapur zeigt, dass verbesserte Sicherheit ihre höchste Priorität im Online-Banking ist. 56% der Befragten glauben, dass die Versuche von Online-Banking-Betrug zunehmen, wobei Millennials die meisten Vorfälle erleben. Die Umfrage ergab:
1. 92% der Verbraucher sind besorgt über Betrug im Online-Banking
2. 'Geldsperre', um Abhebungen zu verhindern, ist die am meisten gewünschte Sicherheitsinnovation
3. 86% legen Wert darauf, sich sicher zu fühlen, dass ihre persönlichen Informationen und Vermögenswerte geschützt sind
4. 51% der Betrugsopfer erhielten vollständige Rückerstattungen von ihren Banken
Die Umfrage hebt auch die Notwendigkeit eines Gleichgewichts zwischen Bequemlichkeit und Sicherheit in Online-Banking-Interaktionen hervor. FIS investiert in KI und maschinelles Lernen, um Banken dabei zu helfen, raffinierte Betrugsversuche zu bekämpfen und das Vertrauen der Kunden zu schützen.
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Key facts and findings
- A new FIS consumer survey finds security is the number one online banking priority for surveyed Singaporeans.
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56% of respondents believe online banking fraud attempts to be rising, with Millennials experiencing the most incidences of fraud and Boomers the least. - Most surveyed consumers are seeking a balance of convenience and security in their online banking interactions.
Overall, when it comes to customer experience, the top priority for surveyed consumers is feeling confident that their personal information and assets are secure. While
These findings are part of a major new survey of more than 1,000 retail banking customers in
Banking fraud remains a concern
The survey revealed that
Additionally, almost a quarter of Singaporeans surveyed have been a victim of online banking fraud, underscoring the scale of the problem. These problems have prompted coordinated efforts by the Government, law enforcement, banks and fintech players.* Fraud incidents were most widespread amongst surveyed Millennials (28-42-year-olds) (
Commenting on security concerns by banking customers, Kanv Pandit, Head of Corporates and International Banking, FIS, said: “As online banking fraud becomes increasingly sophisticated, FIS is strategically investing in the implementation of new technologies to aid banks in their fight against scams. This includes embedding AI and machine learning in our products to mitigate fraud in billions of transactions. By leveraging advanced technologies, banks can anticipate new threats, understand fraud patterns with greater precision, and respond swiftly to emerging risks – ensuring that their customers’ trust and safety is protected.”
Balancing convenience with security
Of those surveyed who have experienced fraud,
Banks that double down on security measures for fraud prevention may impose additional steps and inconvenience for customers when carrying out various banking interactions. FIS’ research found that most respondents are seeking a balance of convenience and security across the full spectrum of online banking interactions. In each category, only a minority of respondents sought convenience over security. Gen Zs (18-27-year-olds) were more focused on convenience in areas such as checking balances and statements, whereas the Boomers were much more conservative across the board.
Kanv Pandit continues: “Examining attitudes towards balancing security and convenience, it is clear that consumers want fast and seamless experiences in today’s digital age, however not at the expense of security. FIS is committed to helping banks unlock financial technology to combat scams and close the satisfaction gap. Banks must act swiftly or risk customers switching banks if security is perceived as not strong enough, particularly around investing and moving money.”
About the Research
FIS’ survey was conducted by Savanta in July-August 2024. The research explores consumers’ attitudes towards the online banking customer experience, perceptions and experiences regarding online banking fraud, and approach to investing.
The
Notes
*These efforts include GovTech’s development of the ScamShield mobile app that protects users from scam calls by by cross-referencing unknown numbers with a database maintained by the SPF, and the joint effort by the Monetary Authority of
**MAS: Consultation Paper on Proposed Shared Responsibility Framework
FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world’s economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, system performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240918327153/en/
Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications
kim.snider@fisglobal.com
Source: Fidelity National Information Services
FAQ
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