PYMNTS

SEPTEMBER 19, 2019

This has become a larger problem for FIs as they must not only deal with protecting customers from fraud, but also guard against bad actors armed with 4.1 Account opening fraud is a favorite tactic among such cybercriminals, many of whom rely on these credentials to pose as legitimate customers. billion stolen credentials.

Fraud 144

Fraud Data Mobile Tools 144

PYMNTS

MARCH 25, 2020

Digital fraud continues to flourish, with recent surveys finding that security breaches have increased 67 percent since 2014 and 11 percent since 2018. Organizations and security developers are investing billions of dollars in fighting these fraud attempts. million people already employed by the industry.

Fraud 148

Fraud Security Resources Survey 148

PYMNTS

SEPTEMBER 7, 2020

Bigatton, who is based in New South Wales, performed in his job for BitConnect between August 2017 and January 2018, when he also served as the representative for the investment scheme BitConnect Lending Platform. Challenger bank Ziglu has rolled out new peer-to-peer payments for all currencies across its mobile app, a press release says.

Bitcoin 132

Bitcoin Fraud Payments cryptocurrency 132

PYMNTS

SEPTEMBER 23, 2020

Banks in the EU have been racing to comply with the General Data Protection Regulation ( GDPR ) and the revised Payment Services Directive ( PSD2 ) since both measures were enacted in 2018. He explained that the cloud can help FIs swiftly respond to compliance and security challenges during the pandemic.

Compliance 225

Compliance Regulation Guidelines Security 225

PYMNTS

OCTOBER 4, 2019

Taco Bell is bringing self-ordering digital kiosks to its restaurants across the country. In digital banking, consumers want the type of financial services control that could potentially decrease their risk for fraud and leave them responsible for more authentication tasks.

Fraud 116

Fraud Digital Banking Data Retail 116

PYMNTS

JUNE 10, 2020

This has increased the need for FIs to develop convenient mobile onboarding experiences, but those that lack confidence in their ability to secure such channels appear to be reluctant to offer them. A 2018 study found that more than 50 percent of U.K. Tapping Mobile KYC .

Mobile 130

Mobile Security Examples Study 130

CB Insights

JANUARY 5, 2021

In the past few years, the burgeoning popularity of digital banks has only underscored the severity of these problems, with upstarts like Chime and SoFi offering cheaper, faster, and more convenient banking experiences. . get the state of challenger banks report. First name. Company Name. Phone number. Source: PwC.

Digital Banking 98

Digital Banking US Online FDIC 98

PYMNTS

JULY 13, 2020

Account takeovers (ATOs) are a growing source of pain for financial institutions (FIs) and their customers, with losses from these attacks rising 164 percent in 2018. FIs must adopt fraud-fighting measures that are robust but do not create so much friction that legitimate customers find it difficult to access needed services.

Security 147

Security Fraud Survey Customer Experience 147

PYMNTS

OCTOBER 11, 2019

Money laundering has always troubled financial institutions, but today’s digital banking system creates additional complexities as fraudsters around the world take advantage of financial technologies to launder approximately $2 trillion annually. AML Strategies and Innovation Quirks.

Strategy 123

Strategy Innovation Fraud Security 123

PYMNTS

MAY 29, 2020

Digital banking’s proliferation makes it more lucrative for them to perpetrate schemes like sending phishing emails from customers’ “banks” that trick victims into installing malware or handing over sensitive details. Fraud cost U.S. billion in 2018, a significant jump from the $406 million it cost them in 2017.

Fraud 132

Fraud Analysis Tools Cards 132

PYMNTS

JUNE 8, 2020

The Securities & Exchange Commission ( SEC ) has moved to freeze the assets of a $12 million cryptocurrency mining and multi-level marketing (MLM) scheme, Coindesk reports. The firms are operating using distributed ledger technology (DLT), which has been growing — in 2018, the number of firms using it sat at only 27 percent by comparison.

blockchain 131

blockchain Analytics Utah cryptocurrency 131

PYMNTS

MAY 28, 2020

In the May Digital-First Banking Tracker® , PYMNTS explores the latest in the world of digital-first banking, including the challenges facing deployment of APIs amid the COVID-19 pandemic, new online initiatives from nationwide FI chains and community banks and the security challenges that are plaguing digital banking programs.

Community Bank 176

Community Bank Community Security Digital Banking 176

Insights on Business

DECEMBER 27, 2017

While we have separately covered what we think will be the main trends in FinTech for 2018, here’s a selection our more popular posts from 2017. Banking on blockchain for increased trust”. You would be hard-pressed to find tech industry jargon spoken and written about as much as the secure ledger technology known as blockchain.

Fintech 129

Fintech blockchain Fraud United States 129

PYMNTS

JULY 30, 2019

Nearly 40 percent of them would consider leaving their current CUs because of inconvenient services or inability to address problems and data security concerns. In July, midwest-based Cobalt Credit Union introduced video banking services and the ability to transact and open a new account remotely. percent cited data security and 60.8

Innovation 115

Innovation Fraud Mobile Video 115

PYMNTS

NOVEMBER 23, 2020

Most of those solutions still rely heavily on checks and business credit cards — which are resource-consuming processes with higher risk[s] of misuse, fraud and theft,” Gitesh Athavale , head of product (cards) at Nium, told PYMNTS. That in turn is creating higher demand for digital banking services that support anywhere commerce.

System 165

System Management Tools Cards 165

PYMNTS

AUGUST 23, 2019

Among the stories we ran over the past few days is a deep look at the problems with Chase Pay, new information about AI fighting fraud, new research into the gig economy and subscriber churn, and a feature about the risks of online disaster relief efforts. Visa Debuts AI-Powered Fraud Fighting Tools. Trackers and Reports.

Lending 109

Lending North Carolina Fraud United States 109

PYMNTS

JUNE 21, 2019

They want it to be easy and intuitive, and to assume it will be safe and secure. If that relationship can be extended through digital channels with partner assistance, and all of that “is still wrapped around the safety and security credit unions have always promised members,” she said, it’s a pretty powerful offering.

Fintech 163

Fintech Fraud Data ATM 163

PYMNTS

APRIL 30, 2018

Digital banks. According to a Crunchbase article published in February of 2018, investments in blockchain and blockchain-related startups (excluding initial coin offerings, or ICOs) were already 40 percent of what they were in 2017. billion in 2018 growing to $1.1 billion in 2018 growing to $1.1 Blockchain.

Fintech 183

Fintech blockchain Lending Digital Banking 183

PYMNTS

JULY 18, 2018

The marketplace of 2018 and its many opportunities are the favored fodder for optimists in the digital age. 372 million: Estimated property damage (so far) from the Kilauea volcanic eruptions of 2018. million: What PwC was ordered to pay by a judge for failing to detect fraud between a client and a mortgage lender. $1

Data 100

Data Millennials Fraud Community 100

NCR

DECEMBER 27, 2017

Banking.com explored one of the most significant sub-themes of this regulatory shift – the growing importance of open APIs – and, in one of our most-viewed articles of the year, looked into the debate around the ongoing use of screen-scraping in this new era of retail banking. What does the future hold for the bank branch?

ATM 76

ATM Fraud Industry Security 76

PYMNTS

JULY 31, 2019

In an effort to make Singapore’s three million monthly cash withdrawals more digital, OCBC Bank has rolled out QR codes that customers can use at any of its 655 ATMs, the company said in a press release on Wednesday (July 31). OCBC Bank’s digital customers have grown by 25 percent since 2018 and mobile banking usage may have tripled.

ATM 108

ATM Mobile blockchain Fraud 108

PYMNTS

APRIL 3, 2018

How to bring mobile banking to the realm of the spoken word – beyond the mere recitation of account data, beyond call and response? Banking is, of course, about more than account balances. Banking is, of course, about more than account balances. The company was among the entrants to the 2018 Alexa Voice Challenge.

Mobile 124

Mobile Fraud New Mexico Examples 124

PYMNTS

AUGUST 29, 2018

Hackers, crackers and cyber criminals of all makes, models and specialties are more or less ubiquitous in 2018. Digital banking , commerce , bill payments, food orders, transportation – all are emerging consumer touchpoints in the voice ecosystem, and all are serving to make the ecosystem an ever more appealing target for fraudsters.

Software 102

Software Security Data Conference 102

PYMNTS

DECEMBER 12, 2018

Banks and credit unions are still wrestling with the best ways to deploy mobile technology, and do so in ways that balance security, and safe authentication, and consumer convenience. That means, of course, that 5G will fuel the growth of the Internet of Things.).

Fintech 211

Fintech Mobile Analysis Technology 211

PYMNTS

DECEMBER 13, 2018

Horrendously, in 2018, the standard way that all these people communicate is by emailing Excel spreadsheets full of sensitive, personally identifying information,” he said. The hard part is making sure everyone involved with that timesheet sees it safely, correctly and securely without anyone doing double entry.”. In the U.K.,

Payments 119

Payments Security Data System 119

PYMNTS

OCTOBER 30, 2018

Adjaoute told Webster that advancement is still a ways off in terms of replacing humans with AI, but harnessing Smart-Agents technology allows financial institutions (FIs) to get a 360-degree view of the consumer and their activities to make sure they are both secure and well-served. The security? Context In Context.

Technology 161

Technology Maine Apple Data 161

PYMNTS

JULY 16, 2018

We have investigated the matter thoroughly, addressed the cause and, as a precaution, have implemented additional security measures,” Macy’s said in an emailed statement. Macy’s was able to confirm that social security numbers were not accessed — but that data like birthdays and addresses might have been.

Cards 100

Cards Data Digital Banking Retail 100

Cisco

APRIL 7, 2019

While banks work to build the right customer experience across channels, emerging technologies like voice-first banking and intelligent chat bots gain footing. It’s clear intelligent assistants will begin to play a significant role in consumer digital banking transactions. Cyber security is more than just “top of mind.”

Trends 64

Trends Cyber Security Big Data Analytics 64

CB Insights

JULY 25, 2019

Startups are now eyeing opportunities to develop fintech services aimed at helping older individuals improve their financial well-being, from estate planning to fraud prevention, aiming to provide this potentially lucrative — and increasingly tech savvy — demographic with more power over their finances. Source: Deloitte.

Millennials 73

Millennials Fintech Tools Fraud 73

Cisco

APRIL 7, 2019

While banks work to build the right customer experience across channels, emerging technologies like voice-first banking and intelligent chat bots gain footing. It’s clear intelligent assistants will begin to play a significant role in consumer digital banking transactions. Cyber security is more than just “top of mind.”

Trends 48

Trends Cyber Security Big Data Analytics 48

CB Insights

FEBRUARY 13, 2020

These APIs handle everything from acceptance and processing to settlement and reconciliation, while ensuring compliance and security. Fraud prevention tools. Additionally, the company must underwrite risk, and is on the hook in the event of fraud or returned items. Michelle Wilson, formerly General Counsel at Amazon (2018).

Online 98

Online Company Retail Payments 98

Cisco

MAY 29, 2019

But, when it really comes down to it, how can banks, saddled with regulations and security challenges, compete with the experiences offered by customer-obsessed tech powerhouses and agile fintechs? Features such as end-to-end online account opening and simple, secure ID verification tell customers “we see you, and we value your time.”

Customer Experience 71

Customer Experience Retail San Diego Study 71

Cisco

MAY 29, 2019

But, when it really comes down to it, how can banks, saddled with regulations and security challenges, compete with the experiences offered by customer-obsessed tech powerhouses and agile fintechs? Features such as end-to-end online account opening and simple, secure ID verification tell customers “we see you, and we value your time.”

Customer Experience 48

Customer Experience Retail San Diego Study 48

PYMNTS

NOVEMBER 29, 2017

According to the forthcoming digital bank-and-brokerage service combo’s co-founder and CEO, Stephane Lintner, the firm is launching a model that reimagines security in the digital age. million in Series A funding for its bank, which is slated to be offered in beta in early 2018. Security is a focus.

Digital Banking 108

Digital Banking Trends Security Regulation 108

CB Insights

OCTOBER 10, 2018

What these startups share is the goal of creating customer-centric banking products that target underserved individuals and businesses. DOWNLOAD THE 61-PAGE consumer banking REPORT. See which startups are helping JPMorgan, Bank of America, and Citi build the digital banking platforms of the future.

Retail 78

Retail Cards Millennials Mobile 78

William Mills

MAY 9, 2018

Welcome to FinovateSpring 2018. Fiserv is highly regarded for its leadership and innovation, and award-winning solutions for mobile and online banking, payments, risk management, data analytics and core account processing. Fiserv : Joe Spaterella, VP Sales, Commercial Banking Solutions, joseph.spaterella@fiserv.com. ^WM.

Security 40

Security Samsung Strategy San Jose 40

CB Insights

AUGUST 23, 2018

Learn about the playbooks of today’s top banks as they digitally re-position their consumer products. Today, JPMorgan (JPM) is using its capital and scale to build an entirely digital bank. JPM’s evolving suite of digital banking apps. JMP’s evolving suite of digital banking apps.

Cards 76

Cards Mobile Strategy Branding 76