Making customers jump through hoops

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The purpose of multi-channel banking is to make things easier for the customer to access his or her account wherever and whenever they need to. However, with the increasing number of channels coming on stream, the architecture is becoming much more complicated and expensive to administer for banks and building societies.

For example, every time a mortgage customer forgets his or her password to access account information online, it can costs the lender up to $50 to go through the process of issuing another one. Additionally, ten percent of customers need their passwords to be reset every six months. It is ...

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