Financial crime prevention as a competitive advantage for challenger banks


Whitepaper Copy

Challenger Banks (also known as FinTechs or neo banks) can be perceived as easy targets by technology savvy criminals, who may assume a lack of maturity in the risk controls that are in place. Well-organized criminals are constantly looking for ways to exploit any weakness in defenses.

To ensure continuous innovation, and to continue to challenge the status quo while expanding as a Challenger Bank it is important to strike a balance between staying true to the organization’s visionary approach and making sure customers always feel safe. By harnessing the latest innovations for fraud and financial crime prevention, new entrants to the market are quickly getting up to speed with failsafe risk prevention strategies fit for modern finance.