IT services company Unisys claims recent research indicates an increasing online threat to people’s money will focus the attention of both the public and the banks on security in 2006.

According to Unisys, the potential to lose customers, as well as their money, will force banks to take on greater responsibility to protect their customers’ interests and to step up internal processes and controls across their business networks.

Unisys security specialists made the following predictions for the coming year:

1.       Increased use of multi-factor authentication to protect customers;

2.       Greater use of biometric and smartcard technology in customer account verification;

3.       Banks will become increasingly paperless.

“Worldwide research by Unisys has clearly shown that banking customers feel accountability for online security belongs with the bank,” says Rob Dewar, managing partner financial services, Unisys Australia and New Zealand.  “Research indicates that Australians are the least likely to pay extra for increased security. More than half, however, would be willing to switch banks for improved security.

“This means that banks must tread a fine line between ensuring their customers feel secure, managing risk and investing in new security systems,” said Mr Dewar.