Artboard 1myriad__tick

Insights in mobile technology

Applying data to reduce digital financial services fraud


Fraud has become a significant problem for organisations across the continent, with a Myriad Connect study in Kenya last year finding that 61% of financial services CIOs cite fraud as one of the top 5 challenges facing their institutions. Over 1 in 5 Kenyans have been the victims of financial fraud including mobile money, fraud, online…

Read more

Challenges facing CIOs and CISOs in managing fraud


Fraud is increasing globally – across all sectors. The Association for Certified Fraud Examiners (ACFE) says in its 2018 Report to the Nations global study on occupational fraud and abuse that global fraud losses could amount to as much as USD4 Trillion in 2017 alone, with 53% of victims recovering nothing and 32% making only a…

Read more

Are you locking customers out? Security should not come at the cost of user experience


As every brand moves into the online space, security vs usability are increasingly pitted against each other. Online retailers and services striving to protect customer data and transactions tend to require customers to set ever-more complex passwords, and to change them regularly. Meanwhile, information security experts warn that consumers should not use the same (easy-to-remember) passwords…

Read more

Chat Banking in Africa – protecting the potential


Chat banking, allowing users to transact simply and easily on the messaging apps they prefer, is likely to become the next big thing in banking across Africa. The continent’s highly mobile-enabled population already embraces messaging apps and an emerging younger consumer base is more comfortable texting than speaking on their devices.  GSMA’s The Mobile Economy…

Read more

Open Banking for Africa: Lessons from the global market


Open Banking is revolutionising the financial services landscape across the world, and presents opportunities for transformation and financial inclusion throughout Africa too. However, the African markets should use the successes and failings from the experiences of other markets to leapfrog directly to the next era of Open Banking. Open Banking, in which banks share certain…

Read more

SIM swap fraud: threat to digital identity


Because SIM swap fraud has been so prevalent across Africa in recent years, African consumers are well aware of the potential for financial losses during unsecured financial transactions.  But the incidence of SIM swap fraud is increasing both across Africa and internationally, and fraudsters are finding new ways to profit from this particular mode of…

Read more