Wisdom of the Crowd: 53% of the respondents said that the best way for a bank to stop fraudulent transfer of large sums is for the bank to send out the SMS immediately and make the transfer after 1 hour.
Internet, business telephone( if there ever is one today) or physical face to face?
For: Mobility: Internet banking in the form of mobile banking to the customer, while on the move can now handle financial transactions.
Another important internet banking benefit is that it is good for the environment as it cuts down on paper and emissions.
Against: Some transactions are really complex and cannot be sorted out unless there is a face to face discussion. Pinpointing at issues and signature guarantees cannot be done online.
Security: This is the biggest pitfall of the internet banking scheme is that hackers, identity theft, phishing, malware and other unauthorised activity are common on the net. Even with sophisticated encryption software, there is always smarter circumvention in the cyber net.
We are all faced with situations in life where it is hard to know what is the right thing to do. One thing is for sure, never in one million years where there is such a thing as one size fits all!
Did OCBC just pay out $13 million for their PR?
ReplyDeleteOne thing is for sure when you hire... it is difficult to detect whether one is an employee or an infiltrator to steal information or data to sell?
ReplyDeleteWe can't fight it...evil is more plentiful than good.
Internet, business telephone( if there ever is one today) or physical face to face?
ReplyDeleteFor:
Mobility: Internet banking in the form of mobile banking to the customer, while on the move can now handle financial transactions.
Another important internet banking benefit is that it is good for the environment as it cuts down on paper and emissions.
Against:
Some transactions are really complex and cannot be sorted out unless there is a face to face discussion. Pinpointing at issues and signature guarantees cannot be done online.
Security: This is the biggest pitfall of the internet banking scheme is that hackers, identity theft, phishing, malware and other unauthorised activity are common on the net. Even with sophisticated encryption software, there is always smarter circumvention in the cyber net.
We are all faced with situations in life where it is hard to know what is the right thing to do. One thing is for sure, never in one million years where there is such a thing as one size fits all!