Intelligent CISO Issue 53 - Page 52

The digital banking revolution in the UK has been phenomenal with a marked and rapid shift to digital banking .
COVER STORY

The digital banking revolution in the UK has been phenomenal with a marked and rapid shift to digital banking .

View video interview : therefore it ' s essential we have a channel that isn ’ t just easy to use and frictionless for customers , but has robust security checks along the way so that we can be sure who we ’ re doing business with and who we ’ re opening accounts for . We also need to be mindful of identity theft , which is a serious crime within the UK and ensuring that we don ' t allow anyone to impersonate a genuine person and open an account at TSB Bank .
How do you ensure security , speed and convenience remain at the heart of what you do and how important is this ?
Finding that balance is what my job is all about and that ' s why we ' re proud to partner with firms like Onfido who give us the capability to detect and prevent fraud and financial crime in ways which are effective , efficient and highly accurate . By using their tools , we ’ re able to properly risk assess all of the account applications we receive in order for us to hone in on those that may present a high risk of fraud or financial crime to the bank .
Can you outline some of the cybersecurity implications of digital banking and how you manage this effectively with the help of Onfido ?
The digital banking revolution in the UK has been phenomenal with a marked and rapid shift to digital banking in recent years . We ' ve seen UK consumers take up digital services with their banks at a phenomenal rate and TSB has been no different . For many of our customers , interacting with us via online channels is how they exclusively perform their banking . Channels like branches and telephone banking are still really important and are crucial for certain segments of our customer base . For many of our customers the way they choose to interact with us is through our mobile banking app or through our online banking . However , that has created a number of security challenges for us because in particular , customer verification and identity validation is something we need to ensure is as robust in that digital world as it would be if a customer is walking into our branch . It ' s an area where we ' ve seen
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