Memento solution from FIS | Sunday Observer
Can financial security challenges be mitigated? :

Memento solution from FIS

One of the biggest challenges facing business today is enterprise fraud management, which is essential to run a business safely. Imposters and fraudsters have innovative and entirely new techniques to commit financial crimes that are becoming even more prevalent.

There is a great need for this ecosystem to be protected by technologies that enable early detection to reduce the damage before and after such acts transpire.

Along with their numerous benefits, digital technologies also bring with them numerous financial crime threats. Financial crimes are increasing YoY at a rate of 20% globally. A study estimates that the total annual cost of all data breaches by 2019 will be $2.1 trillion, which is almost four times the estimated cost of breaches in 2015. The Sri Lanka Computer Emergency Readiness Team, Coordination Centre (Sri Lanka CERTICC) received 3907 cyber security related incidents in 2017, which is a significant increase from 2010.

The Memento solution from FIS, a global provider of financial technology, delivers next-generation fraud solutions through its enterprise platform. This helps protect financial institutions from wide-ranging, costly threats and enables key stakeholders to measure the true value of loss-prevention investments.

FIS is a strategic ICT Partner of the Just In Time Group in Sri Lanka.

References: National Information and Cyber Security Strategy of Sri Lanka, 2019-2023.

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