Long gone are the days of going into a branch for our everyday banking needs, with everything from online banking and buy now, pay later (BNPL) services to cashless and contactless payments soaring in popularity. Last year alone, 93% of customers used one or more digital payment methods and BNPL services accounted for $100 billion in purchases.
This surge in online banking may make customers’ lives more convenient. However, it also opens them up to more opportunities to be defrauded.
