PYMNTS

MAY 20, 2020

False positives are the bane of fraud fighters everywhere, as they penalize legitimate customers due to the behavior of bad actors illicitly armed with credentials, card numbers and accounts. Turning away a good order is so damaging,” Rich Stupp y, chief customer experience officer at Kount, told PYMNTS.

Fraud 130

Fraud Mobile System Data 130

FICO

FEBRUARY 23, 2022

When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money.

Fraud 98

Fraud Survey Customer Experience Retail 98

PYMNTS

SEPTEMBER 23, 2020

People for whom dining out is one of life’s best pleasures have had a rough time in 2020, and it’s probably going to stay weird for a while. Even New York City has now greenlit indoor dining, but the great restaurant sector reset of 2020 is far from finished. million in 2020 as consumers continue to heavily rely on these services.

Mobile 245

Mobile New York City Fraud New York 245

South State Correspondent

MAY 13, 2024

The major themes of fraud, artificial intelligence (AI), expansion of instant payments, open banking, and regulation were particularly relevant to your roles as executives, risk managers, compliance officers, and technology leaders. Unfortunately, most banks don’t gather fraud data across payment channels or track “pre-crime events.”

Conference 195

Conference Payments Fraud Data 195

PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2 According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2

Fraud 110

Fraud Security Retail Tools 110

PYMNTS

OCTOBER 28, 2020

But what isn’t debatable is the essential truth of his purported statement — and how relevant it is to the 2020 holiday shopping season, as Kount Chief Customer Experience Officer Rich Stuppy recently told PYMNTS. Starting With A ‘Fraud Mindset’. Where the money is, the fraudsters go,” Stuppy said.

Fraud 280

Fraud Retail Tools Data 280

PYMNTS

DECEMBER 17, 2020

Digital fraud is a long-running problem for merchants, retailers, banks and businesses of all types. Account takeovers and shipping fraud increased by 347 percent and 391 percent, respectively, between 2018 and 2019, and the pandemic has only exacerbated these issues. Developments From The World Of Digital Fraud.

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Fraud Online Retail Examples 255

PYMNTS

JUNE 22, 2017

Fighting fraud is a lot harder online, and a lot harder for merchants and consumers, as card-not-present transactions become the preferred method of malfeasance. In one recent announcement, payments provider TSYS and real-time learning technology platform Featurespace said they were joining forces to offer fraud prevention tools.

Fraud 162

Fraud Tools Cards Online 162

PYMNTS

JULY 29, 2020

Companies want and need more visibility into cross-border payments, and with the blastoff of eCommerce in 2020, those needs grow daily. The July Payments Powering the Platform Economy Report , a Payoneer collaboration, explores the marketplace ecosystem, its benefits as well as its fraud dangers as COVID confusion lingers.

Payments 269

Payments Fraud Customer Experience Resources 269

PYMNTS

DECEMBER 24, 2020

Consumers, in short, entered spring 2020 realizing that their old, largely physical habits for feeding themselves were a bad fit in a world where proximity between themselves and strangers was frowned upon as a public health liability. Kount Chief Customer Experience Officer Rich Stuppy.

Study 206

Study Industry United States Innovation 206

PYMNTS

DECEMBER 21, 2020

After a revenue freefall of $165 billion between March and July, the sector is expected to lose almost a quarter-trillion dollars in 2020. Into the confusion drops PYMNTS’ December 2020 Mobile Order-Ahead Tracker® done in collaboration with Kount. It’s a bright spot in a dark time, and fraud isn’t the only thing concerning foodies.

Mobile 151

Mobile Fraud Policies Study 151

PYMNTS

JANUARY 27, 2021

Banks’ use of such innovations is predicted to expand, too, with 60 percent of FIs saying they aim to gain customers and improve customer experiences using digital channels. This increased digital presence also brings a greater risk of digital fraud, however. The Fraud Threats Facing Digital-First Banks.

Security 213

Security Innovation Fraud Study 213

FICO

SEPTEMBER 5, 2022

European Card Fraud in 2021: Winners, Losers and Scams. The United Kingdom and the Nordic region continue to lead Europe in terms of digital transformation and fraud loss reduction - but non-card scams are rising fast. Tue, 11/10/2020 - 12:17. Senior Consultant, Fraud and Financial Crime. Darcy Sullivan. by Naomi Palmer.

Fraud 52

Fraud Cards Regional Trends 52

FICO

MARCH 30, 2023

Both from a cash and a fraud perspective, my curiosity was piqued, and I fell down the rabbit hole to learn more. Fraudsters Love Digital Real-Time Payments All this rapid change is great for one thing — fraud. This is the scam where the unwitting customer is fooled into sending real-time money transfers to scammers.

Fraud 52

Fraud ATM South Carolina Management 52

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. The discussions were healthier, more compliance-focused, and with little expectations that banks were going to offer crypto to their customers any time soon.

Conference 221

Conference Las Vegas Fraud Case Study 221

FICO

FEBRUARY 23, 2022

When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money.

Fraud 52

Fraud Survey Customer Experience Retail 52

PYMNTS

AUGUST 5, 2020

This means employing digital identification measures that can distinguish between bad actors and legitimate customers near-instantly, both to keep fraudsters from making off with their ill-gotten gains and to ensure the customer experience remains engaging for their users.

Online 278

Online Report Fraud Mobile 278

PYMNTS

JANUARY 13, 2020

As 2020 gets into full swing, artificial intelligence (AI) is in a peculiar position. You can bet on its arrival during the 2020s though — at least according to the message sent as part of the latest PYMNTS Masterclass with Brighterion , an AI-focused company owned by Mastercard. Take just a few data points: 63.6

Fraud 207

Fraud Customer Experience Data Technology 207

FICO

DECEMBER 21, 2020

Predicting the future is an annual pursuit at FICO, and this year my 2021 fraud predictions for the European region reflect how some of the broad trends that shaped 2020 will mutate into specific fraud challenges in the coming year. Prediction 1: Scams Will Become the Leading Fraud Type — and Not Just in the UK.

Fraud 52

Fraud Trends Comparison Compliance 52

PYMNTS

DECEMBER 16, 2020

The topic was front and center in an On the Agenda discussion with PYMNTS CEO Karen Webster, Ethoca CEO Andre Edelbrock , Cabela’s and Bass Pro Shops Senior Manager of Fraud and Investigations Keith Thompson and First National Bank of Omaha Director of Fraud Management Steve Furlong. The Scope Of The Problem. So, too, are data.

Retail 228

Retail Management Fraud Omaha 228

PYMNTS

NOVEMBER 30, 2020

Kount ’s Chief Customer Experience Officer Rich Stuppy told Karen Webster that porch piracy is one of the easier crimes to commit. And while on its own it would be a challenge, the trouble really begins when consumers start “crying wolf” about porch piracy to commit refund fraud , which as of 2020 is happening en masse.

Fraud 204

Fraud Policies Data Retail 204

PYMNTS

JUNE 17, 2020

Both of these channels are thus perfect targets for fraud, with cybercriminals posing as restaurants on social media and attempting to scam customers of their personal data, and fake reviews driving customers away from restaurants.”. Successful attacks are often the result of inadequate digital defenses meeting these methods.

Tools 141

Tools social media Fraud Mobile 141

PYMNTS

JUNE 2, 2020

The world of payments processing will be a very different place by the end of 2020 than it was at the beginning — one where securing transactions will take on a new priority for merchants and consumers alike. Firms like Braintree, Chase, Moneris and BlueSnap are already leveraging Kount’s fraud prevention tools. The Path Ahead.

Compliance 137

Compliance Fraud Security Regulation 137

FICO

OCTOBER 31, 2019

As the adoption of EMV chip card technology has fueled a move to card not present (CNP) fraud , FICO analytic scientists are keenly focused on improving FICO® Falcon models’ CNP fraud detection. In early 2019 we rolled out our highly effective new high-value fraud CNP models to better combat fraud around the world.

Fraud 40

Fraud Cards Analytics Customer Experience 40

PYMNTS

JANUARY 8, 2019

While the holiday retail rush meant big gains for some retailers, it also came with an influx of fraud, both in-store and online, as fraudsters took advantage of a high-pace, high-volume period of transactions. In fact, over 5 percent of online retail revenue is now lost to fraud. By 2020, it’s estimated that U.S.

Fraud 166

Fraud Retail Security Branding 166

PYMNTS

APRIL 15, 2020

with plans for expansion throughout 2020, both in the U.S. This initiative aligns with Microsoft’s commitment to providing the best customer experience at every occasion, including access to Microsoft’s own Azure-based digital receipt and purchase information. The solution is now in place at a top five bank in the U.S.

Fraud 167

Fraud Cards Tools Online 167

PYMNTS

MAY 20, 2020

In its fiscal 2020 Q1, streaming platform Netflix reported adding nearly 16 million new subscribers and blasting net income into orbit at $709 million, more than double its Q1 2019 performance. Unemployment, emergency medical bills and falling victim to fraud are just a few reasons why consumers may shift their financial priorities.”.

Fraud 205

Fraud New York Video Customer Experience 205

PYMNTS

OCTOBER 22, 2020

Mitek also contends that its new, NFC-enhanced digital identity verification solution will also provide an easier and more intuitive experience for customers of banks and other financial institutions while also helping to thwart fraud.

Technology 134

Technology Comparison Security Customer Experience 134

PYMNTS

APRIL 16, 2020

Had 2020 been a normal year, it might have risen to about 17 percent by the time we were ringing in the New Year on Dec. It takes that long to get feedback from consumers on credit card fraud. They simply don’t have enough historical patterns. The challenge will be navigating the short-term bumpiness that will ensue.

Meeting 170

Meeting Fraud Analysis Data 170

PYMNTS

MAY 10, 2019

Among the highest ideals for digital payments – driving innovation in transactions and customer experience – is, of course, the concept of seamlessness. In short, the new rule might require companies that deal with ACH payments to retool their fraud detection systems. New NACHA Rule. How much effort will that require, then?

Payments 178

Payments Fraud Security Customer Experience 178

Javelin Strategy & Research

DECEMBER 14, 2021

Identity Proofing Awards kinjal Tue, 12/14/2021 - 16:49 Sections Home Rss.xml Identity Proofing Award Identity Proofing Award Mitigation of Identity fraud requires a combination of technologies that are complementary and easy to manage.

Fraud 40

Fraud Customer Experience Management Report 40

PYMNTS

MARCH 23, 2020

More companies are focusing now on the onboarding process as a first line of defense against sleeper fraud, by making sure that fewer fake accounts get created to begin with. There are also legal matters of compliance, and customer experience is increasingly seen as an important part of the overall offering.

Fraud 130

Fraud Customer Experience Resources Compliance 130

PYMNTS

OCTOBER 8, 2019

He added that CUs need to be cutting edge with technology, especially as FinTechs make it a goal to gain market share from traditional FIs, who are, of course, also focused on delivering satisfying customer experiences. If you think about all of the ‘cyber things’ that have been happening — it seems like new ones come out every day.

United States 102

United States Millennials Course Lending 102

PYMNTS

JULY 27, 2020

Digital banking and eCommerce are making rapid gains in 2020 as consumers turn to online channels to make purchases and avoid potential exposure to COVID-19. Synthetic ID fraud can be especially hard to spot. Long-running synthetic ID schemes have illuminated gaps in FIs’ traditional fraud-fighting measures.

Data 146

Data Fraud US social media 146

PYMNTS

JANUARY 6, 2020

Or just look at the way stores’ physical plants are changing and evolving to meet the needs of an increasing number of customers coming in to grab and go, and a falling number waiting in line to order. This is the new normal,” Kount Chief Customer Experience Officer Rich Stuppy told Karen Webster in a recent conversation.

Fraud 131

Fraud Mobile Customer Experience Data 131

PYMNTS

OCTOBER 1, 2019

1, 2020 — at one point, the deadline was in 2017. That’s the case, even as news of fraud can regularly remind one of how easy it can be for criminals to install card skimmers at pumps to facilitate theft. Every mandate or chance to upgrade payments technology is, after all, a chance to upgrade the customer experience tied to payments.

Innovation 167

Innovation Customer Experience Retail Operations 167

Abrigo

FEBRUARY 3, 2020

Creating more efficient operations and improving customer experiences are the goals driving technology strategies and investments at many U.S. The IT team is able to shift that time to other projects, perhaps on innovation that can improve the customer experience or better manage operational or credit risk, or improve efficiency. “If

Resources 150

Resources Security Customer Experience Fraud 150