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Mobile banking and payments – The FCA’s thematic review explained
The Financial Conduct Authority issued in September a thematic review into mobile banking and payments. The report had a broad remit and covered issues ranging from consumer rights to technology and security issues. One of the five high level findings focused on how firms retain oversight and control of third parties and outsourced functions. Mike Pierides, Partner, and Rich Jones, Associate, within Pillsbury Winthrop Shaw Pittman’s Global Sourcing group, report on the interaction between banks and third parties, and the related risks, in the context of mobile banking
Customer behaviour in the digital age
In recent years, there has been a huge growth in consumer appetite for digital content and access to mobile services across all industries – particularly in the retail banking industry. In order to meet increasingcustomerdemands, banks must have an all-encompassing strategy which brings together all appropriatechannels. This strategy allows bank customers to contact and connect with their bankeither in-branch, via telephone or through relatively new digital channels such as mobile and tablet, writes Travers Clarke-Walker