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Banks unable to prevent another banking scandal

Banks unable to prevent another banking scandal

Only 13% of Americans believe bank systems are capable of preventing another banking scandal, according to a poll of over 2000 American consumers.

35% suggest that with some investment, they might be in a better position to ward off the next crisis.

A graph showing survey results

Banks Unable to Prevent Another Scandal

But 51% say it will take major investment to sort out the systemic problems that banks and financial institutions have, rising to over 60% in the 35-44 age bracket, a demographic acutely affected by the effects of the financial crisis on working families.

A graph showing investment in banking platforms needed

Major investment in banking platforms needed

“For less than $10 per trader per day, we think that banks and financial institutions can better protect themselves from future scandals,” says Intelligent Voice CTO Nigel Cannings. “Using existing technology and knitting it together with best of breed emerging technologies, especially in the analytics field, means that banks can monitor themselves far more effectively.”

“Regulators are already struggling with workload as are the people they are monitoring. We need to rethink how we store and analyse data, and recognise that technology can play a part alongside humans in achieving this.”

The post Banks unable to prevent another banking scandal appeared first on Payments Cards & Mobile.

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