PYMNTS

DECEMBER 10, 2020

identities took center stage in 2012 — the year HSBC, Europe?s identities. . identities while also speeding and simplifying sign-up. Advocates of the strategy say it provides banks with an error-free way to onboard customers while reducing fraud and preventing application abandonment. . The London-based bank?s

Video 201

Video Digital Banking User Experience Tools 201

PYMNTS

OCTOBER 5, 2020

A study found that almost half of all U.S. A study from identity verification se rvice Trulioo found that 62 percent of consumers prefer onboarding experiences that prioritize security over speed across nearly all industries, but only to an extent. trillion annually over the next several years. About The Tracker.

Online 141

Online Compliance Report Study 141

PYMNTS

MARCH 27, 2020

As Barnhardt noted, as transaction volumes spike, so does fraud. In the simultaneous battles against bad actors and false declines, he said, GIACT has advised clients wondering what to do (some have asked if they should relax fraud strategies amid the huge spike in commerce): “We keep saying, ‘follow the data.

Fraud 137

Fraud Data Online Payments 137

PYMNTS

JULY 31, 2019

A study conducted last year found that 71 percent of U.S. consumers are afraid hackers might access their personal, credit card or financial information, and that 67 percent were afraid of identity theft. percent noted anti-fraud initiatives. . The May 2019 PYMNTS Credit Union Innovation Playbook found that 79.4

Fraud 122

Fraud Security Lending Data 122

PYMNTS

OCTOBER 23, 2018

As well, digital billing can help reduce healthcare fraud and errors in the $3.5 billion in annual improper Medicare payments. The last five years, in fact, have brought about a 125 percent increase in cyberattacks and hacking attacks targeted against the healthcare industry, according to one recent study. Paper Domination.

blockchain 173

blockchain Study Case Study Fraud 173

PYMNTS

JANUARY 24, 2020

Government disbursements can range from child support payments and annual tax returns to pension and retirement fund payouts. Fraud Issues Stemming From Paper Check Use. Check fraud affected 70 percent of U.S. Digital payments have made their mark on government disbursements, just not at the rate U.S. residents want or expect.

Payments 130

Payments US Fraud Innovation 130

PYMNTS

MAY 3, 2019

As readers of this space are no doubt aware, BEC scams involve fraudsters assuming the identities of legitimate vendors or employees to entice unwitting victims to authorize funds sent to illicit accounts — then, the bad guys disappear with the money. The same was true of 19 percent of email[s] sent to business partners,” said the company.

Study 108

Study Fraud Report Survey 108

Gonzobanker

JUNE 14, 2023

While nearly half of financial institutions surveyed for Cornerstone Advisors’ 2022 and 2023 What’s Going On In Banking studies had BaaS on their radar for a future strategy, those currently pursuing a BaaS strategy, in the process of developing a strategy or considering a strategy all declined year over year. If only it were so easy.

Compliance 109

Compliance FDIC Strategy Fintech 109

CFPB Monitor

JULY 6, 2021

The Priorities, listed according to FinCEN “[i]n no particular order,” are as follows: Corruption; Cybercrime; Domestic and international terrorist financing; Fraud; Transnational criminal organizations; Drug trafficking organizations; Human trafficking and human smuggling; and. The Priorities and Their Utility. Proliferation financing.

United States 78

United States Fraud Regulation Compliance 78

PYMNTS

JULY 26, 2016

PYMNTS’ Karen Webster noted that in order to ensure the best results for both customers and the firms that serve them, data must be good, fraud and attempted fraud must be tracked in real time, and platforms must remain robust. Having strong models in place also allow for verification decisions to be done on the fly.

Analytics 100

Analytics Customer Experience Fraud Case Study 100

FICO

JUNE 9, 2016

Millennials reward positive fraud outcomes. FICO’s latest research on consumer banking trends has revealed that 22% of US consumers will close an account after a fraud incident, while 29% of Millennials will close all accounts with that bank. 25% of Millennials will write a negative post on social media about a fraud incident.

Millennials 40

Millennials Fraud social media Survey 40

Fintech Labs Insights

SEPTEMBER 15, 2015

FinDEVr Previews highlight companies presenting new developer tools, platforms & integrations at the second annual FinDEVr — Oct 6 & 7. But fraud is also increasing at alarming rates. A recent study from LexisNexis Risk Solutions reports that while 14% of overall transactions are mobile, they make up 21% of fraud cases.

User Experience 12

User Experience Fraud Bitcoin Customer Experience 12

Independent Banker

OCTOBER 1, 2022

According to a 2022 study by investment and intelligence company MAGNA, 74% of consumers say they highly value data privacy. Monitor credit reports and bank account activity to timely identify and prevent fraud and identity theft. Data privacy and security is a hot topic and is only getting hotter.

Data 91

Data How To Community Bank California 91

PYMNTS

JANUARY 14, 2021

An estimated 17 percent of addresses become incorrect annually as consumers move or city planning alters street names and ZIP codes, for example. Consumers may lack trust in the identity verification process during onboarding, according to one study. Inaccuracies can enter into address information in many ways.

Analytics 170

Analytics Data Study Millennials 170

PYMNTS

SEPTEMBER 16, 2020

One 2018 study estimated that just 20 percent of U.S. Universities are not typically seen as top targets for fraud, with one 2019 study finding that attacks on higher education institutions constituted just 7.2 percent of their annual budgets on IT development. This marks a notable shift from previous years.

Study 140

Study Arizona Fraud Examples 140

PYMNTS

OCTOBER 11, 2017

Shifting right along with it is the fraud landscape. Cybercriminals keep changing the predominant types of digital fraud and their trickiest strategies, keeping pure eCommerce players and anyone with an online retail presence on their virtual toes. The Modern Face of Fraud. The stolen credit or debit card is classic fraud.

Online 111

Online Fraud Retail Cards 111

PYMNTS

JULY 12, 2019

According to a recent study conducted by PYMNTS and Mastercard, of the 38.7 Brighterion and Elavon Strike AI Anti-Fraud Deal For the Acquiring Space. Facebook’s Libra and the Future of Digital Identity. The annual retail event known as Amazon Prime Day is about more than Prime or the giant eCommerce operators.

Retail 108

Retail Comparison Trends Innovation 108

FICO

MARCH 6, 2020

With the acquisition of Tonbeller in 2015, FICO expanded its fraud portfolio and moved into the growing market for financial crime and compliance solutions to bring the benefits of advanced analytics to a field dominated by rule-based systems. Just a few weeks ago, a market study estimated the cost of compliance for U.S.

Compliance 81

Compliance Technology Fraud Analytics 81

PYMNTS

SEPTEMBER 18, 2017

The Big Three sell that data to anyone who’ll pay for it, adding to their multibillion-dollar annual revenue streams. An FTC study reports that one in five consumers has an error on her report, and those errors will cost one in 20 of those consumers in the form of higher interest and carrying costs on their loans.

Report 202

Report Regulation Data Retail 202

PYMNTS

JANUARY 2, 2017

The spring brought coverage of mobile advertising and payments on the go at food trucks as small, smart device-powered businesses, and in the fall, we looked at the biggest trends in digital security at the annual Money20/20 Conference in Las Vegas. DIGITAL IDENTITY TRACKER. And the costs of these attacks could be severe. MPOS TRACKER.

Retail 123

Retail Millennials blockchain Mobile 123

CB Insights

JULY 23, 2020

However, in the US, 2 out of 3 workers still feel uncomfortable returning to the workplace, according to a Qualtrics study. In the US, poor health ends up costing employers $530B annually, some of which can be avoided with better management of the transmission of illness. Challenges: unproven studies and inconvenience .

Meeting 101

Meeting Tools Survey Company 101

CB Insights

MAY 15, 2019

Companies are turning to accelerators, funds, and labs to try to find the next big thing that will reduce fraud, speed up transaction times, and catch on with consumers. Cambridge Blockchain, a 2016 graduate, was created as an identity management platform for banks. One popular approach: in-house financial innovation labs.

Innovation 78

Innovation blockchain Technology Groups 78

CB Insights

NOVEMBER 9, 2017

And then there were some uncommon and more dramatic causes of failure, including: Financial fraud. At one point Next Step Living had more than 800 employees and was generating more than $100 million in annual revenue. Harvard Business School case study department, here they come. The [prior] Phase 2 study was robust.”

Capital 78

Capital Company San Francisco Operations 78