Paris, France
July
9,
2003
Online Banking Security in Europe: Balancing
security, ease of use, culture and cost.
Report Published by Celent
According to Celent Communications,
European Banks spend on average two to three times as much per online
banking customer on
fraud prevention technologies compared to their American counterparts.
The annual amount lost to online banking fraud in Europe pales in comparison to the combined budgets banks devoted to
prevention. European Banks continue to
spend on prevention technology primarily because of cultural attitudes
towards the perceived risk and the potential damage to the brand image
from any fraud incident.
In a new report entitled "Online
Banking Security in Europe," Celent provides an overview of
the different ways banks provide security around authentication for online
retail and corporate banking customers.
"Unlike the American market which
predominantly uses a username/password combination to authenticate its
consumers, European banks have deployed a great variety of strong
authentication solutions to serve both corporate and retail users"
says banking analyst Alex Brutin.
The report gives an overview of the
authentication solutions used in the 15 largest European banks as well as
a country overview on both the retail and corporate level.
A Table
of Contents is available online.
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