Online self-service has created a new class of e-security risks that the National Australian Bank had not intially factored in to its customer service plans, according to Steve Collier, the Bank's General Manager for Direct Sales & Service.
"In the last twelve months self-service usage has become a real issue," he said at the Dimension Data Customer Interact Forum 2007.
"We were using a lot of money in e-fraud every month."
The bank has since taken steps to secure its online facilities, with second factor authentication one tool it has deployed that has found favour with its customers.
"We've had three hundred thousand signups for second factor in six months," Mr. Collier said.