PANEL: Building Trust through technology. What’s hot in digital payments? as a part of of the VIII Summit National Bank governors, Ministers of Finance and director of tax administration in the region
Secretary general Association of Montenegrin banks participed on Panel, as a part of of the VIII Summit National Bank governors, Ministers of Finance and director of tax administration in the region In this panel we are going to discuss the role of technology for building trust. How is innovation helping us respond to the growing consumer’s demand for better user experience, greater convenience, privacy and enhanced security especially when it comes to payments. We would also talk about the new untraditional players that have entered the payment market and their readiness to respond to the above challenges.
When we talk about safety and security we should always remember that we are as safe and secure as our weakest link. Cybercrime is forecast to double in the next five years hitting $6 trillion by 2021, according to Cybersecurity Ventures. Companies are investing significantly every year to maintain the safety and integrity of their systems, and to keep ahead of cybercriminals. In the last three years Mastercard has invested $1 Billion to protect the digital payments ecosystem. The need to invest will only increase as cybercriminals become more advanced, while at the same time consumers and businesses will ask for faster and more convenient payment methods.