After online commerce grew in 2016, there is still skepticism on the part of potential consumers about the cybersecurity that retail sites handle, and their constant fear of possible data theft. A study by the digital services firm, ABN AMRO , revealed that digital security is one of the biggest Hungary Phone Number List trends for this year, as online transactions demonstrate the rapid proliferation of online financial services, and the banking sector is the most concerned for innovating new security systems. Among the challenges facing the banking sector to create a safer shopping environment , the following stand out:
According to PwC , the banking sector has to drive innovation and anticipate the impacts of these changes on consumers, not the other way around, because retailers need greater cyber security to create better payment experiences. Banks need to invest in more analytical capabilities, building on a solid foundation of more personalized consumer experiences. For ABN AMRO, banks have the opportunity to innovate, by connecting existing technologies with new products, instead of creating new technologies and “announcing it from the rooftops”. They cite as an example, the Tikkie platform , which was built under that premise, of a totally personalized service and that added value to their service.
E-commerce eradicates borders and sellers and buyers have real-time contact, but for some merchants, especially retailers, the main challenge lies in the ability to send and receive payments in their currency in a timely and efficient manner. According to estimates, the consumer economy in China will expand to 6.5 trillion dollars in 2020, so they will have to Phone Number List improve digital resources, whose improvements lie in: easier solutions, simple and profitable payments, among others. For PwC, millennials have grown confident in their digital purchasing power, because they see it easy and uncomplicated to pay, divide invoices and comment on what they are buying on their social networks, so the recommendation is to stay up to date on consumer taste, banks will have to rethink their innovation approaches.