FICO

MARCH 9, 2022

The last few years have thrown up many challenges for banks and card providers as everything has shifted online, one of the primary challenges being fraud scams. But the online shift has also created opportunities for financial institutions to demonstrate their strong fraud controls in the digital space.

Customer Experience 59

Customer Experience Survey Fraud Cards 59

PYMNTS

DECEMBER 28, 2020

Consumers, businesses and financial institutions (FIs) cannot wait to bid adieu to 2020, which has been one of the most trying years in recent memory. Many CUs have since leaned into these efforts with digital innovations aimed at a range of issues, such as tackling fraud or enhancing members’ remote banking access.

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North Carolina Houston Fraud Innovation 197

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. The digital divide spans countries as well.

Digital Banking 98

Digital Banking US Online FDIC 98

PYMNTS

JUNE 26, 2020

Digital banking has become the new normal as social distancing guidelines and stay-at-home orders have drastically curbed financial institutions’ (FIs’) abilities to conduct in-branch services. Online account openings increased by more than 200 percent in April, while all mobile banking traffic rose by 85 percent.

Digital Banking 220

Digital Banking Guidelines Trends Online 220

PYMNTS

DECEMBER 14, 2020

Just ask them, as was done for the December 2020 How To Put AI In Your 2021 FI Business Plan Playbook , a collaboration with Brighterion. An AI system that has collected enough information to know how consumers behave online can use their digital ‘fingerprints’ to detect behavioral abnormalities with relative ease. “An

Fraud 218

Fraud System Digital Banking Data 218

PYMNTS

JANUARY 27, 2021

This increased digital presence also brings a greater risk of digital fraud, however. Some schemes that are impractical to wage in person are simpler to perpetrate online because of a decreased security presence, the anonymity of transactions and fraudsters’ abilities to stage hundreds of attacks simultaneously.

Security 213

Security Innovation Fraud Study 213

PYMNTS

DECEMBER 9, 2020

A tech upstart – a FinTech, no less – breaking even in 2020? We’re being a bit tongue in cheek, but the fact remains that digital-only banking is getting a wider embrace – especially in Europe, as the pandemic surges yet again. banking license. Could happen. For more than one company. Revolut, the U.K.-based

Digital Banking 205

Digital Banking Course Fintech Operations 205

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. Developments From Around the World of Digital Fraud.

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Fraud Security Resources Survey 148

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.

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Tools social media Fraud Mobile 141

FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. In a year that saw the word "scamdemic" coined, scams such as authorised push payment fraud were top of mind, along with various other fraud schemes. Few things change faster in the financial services space than fraud trends. FICO Admin.

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Fraud Cards Analytics Oakland 52

PYMNTS

JANUARY 20, 2021

The ongoing pandemic has pushed more consumers online to carry out their shopping and banking, with fraudsters following suit. Bad actors have moved to take advantage of the rush to digital payments — particularly those made with debit cards — leaving banks and financial institutions (FIs) racing to keep them off their platforms.

Security 130

Security Cards Mobile Fraud 130

PYMNTS

AUGUST 21, 2020

Deposits had already been trending away from community banks and credit unions anyway, but COVID-19 has accelerated that shift. In fact, the majority of 2020’s new accounts have gone to megabanks and digital banks, not to community institutions. Lesher said a few key features comprise a modern, digital-first offering.

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Cards Mobile Community Bank Community 224

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.

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Data Fraud US social media 146

PYMNTS

SEPTEMBER 4, 2020

We dive into PayPal's installment options, consumer trust in digital banking, and Walmart and Amazon's battle for the digital consumer. Still, the online vacation rental marketplace has not ruled out a merger with Ackman’s Pershing Square Tontine Holdings Ltd. Economy (Inspiring Trust In The New Digital Economy Report).

Survey 175

Survey New York City Digital Banking Online 175

PYMNTS

JANUARY 21, 2021

For credit unions (CUs), the digital trends that accelerated in 2020 amid the pandemic will gain even further traction this year. We can provide them these services regardless of the channel that the member wants to interact with,” across brick-and-mortar, online or contactless payments, she added.

Analytics 240

Analytics Fraud Trends Mobile 240

CB Insights

FEBRUARY 13, 2020

As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years. Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments.

Online 98

Online Company Retail Payments 98

PYMNTS

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. Consumers’ changing views are prompting MENA financial authorities to reexamine how their present regulations handle online privacy.

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Regulation Data Regional Examples 175

PYMNTS

DECEMBER 15, 2020

Digital transformation is among the most noticeable changes, but it doesn’t herald the end of the brick-and-mortar experience, Brian Scott , senior vice president and chief growth officer at PSCU , told PYMNTS in a recent interview. Scott noted that fewer credit union mergers happened in 2020, largely due to the pandemic.

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Course Cards Fraud Mobile 186

PYMNTS

DECEMBER 11, 2020

PYMNTS’ December 2020 Digital Identity Tracker® , done in collaboration with Jumio , delves with enthusiasm and deep detail into the burgeoning field of video-based KYC , highlighting a number of compelling use cases from around the world that showcase its effectiveness. But that’s about to end.

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Video Security National Digital Banking 204

PYMNTS

JANUARY 28, 2020

Owens noted that Elan aims to improve the customer experience by providing mobile functionality, geolocation, AI-based fraud protection and all forms of digital payments. Of course, those digital strategies that FIs are (or should be) working on in 2020 can involve a variety of features, tools and offerings.

Fintech 169

Fintech Digital Strategies Mobile Resources 169

Fintech Labs Insights

AUGUST 14, 2020

INSTNT pitches at Plug and Play’s Fintech Batch 11 demo day in June 2020. So many good financial product/marketing ideas are rejected due to fraud concerns. But fraud concerns needn’t stop you in your tracks. It’s an online account opening specialist with an eye-popping product benefit. Enter INSTNT.

Washington 15

Washington Fraud Ohio Resources 15

Fintech Labs Insights

AUGUST 14, 2020

INSTNT pitches at Plug and Play’s Fintech Batch 11 demo day in June 2020. So many good financial product/marketing ideas are rejected due to fraud concerns. But fraud concerns needn’t stop you in your tracks. It’s an online account opening specialist with an eye-popping product benefit. Enter INSTNT.

Fintech 15

Fintech Washington Fraud Ohio 15

Accenture

SEPTEMBER 22, 2019

An obvious reason is the inroads they’re making into the market, both domestically and globally: recent Accenture research finds that digital-only banks operating in the UK could amass a total of 35 million customers globally within the next 12 months, up from 13 million today. What the future holds.

Innovation 150

Innovation Metro Apple Marketing 150

Gonzobanker

MAY 4, 2020

Here are a few of the recent deals (in no order) that caught my attention: MVB Financial/Paladin: MVB, a mid-size bank with a stated focus on serving fintechs, acquired Paladin, a specialty fraud prevention company with a suite for merchants, credit agencies, fintechs and vendors. Unnamed Industry Heavy, March 2020.

Fintech 109

Fintech FDIC Capital Community Bank 109

Fintech Labs Insights

DECEMBER 3, 2020

Breach Clarity’s FinovateFall 2019 demo (2020 coming soon). And then provides specific steps to take to secure their finances including FI-specific enhanced security options within online banking ( see screenshot below ). Opportunities for financial institutions: FIs create a co-branded area within online banking.

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Fintech CA Branding Security 15

Fintech Labs Insights

DECEMBER 10, 2020

Here are the 36 demos (from 30 fintech startups**) that won the audience vote for Best of Show at the end of each event: Nov 2020: West Digital – 5 winning demos plus Q&A (50 minutes). Sep 2020: Fall Digital – 5 winning demos plus Q&A (50 minutes). Feb 2020: London – 6 winning demos (42 minutes).

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Fintech Video San Francisco social media 15

Fintech Labs Insights

DECEMBER 10, 2020

Here are the 36 demos (from 30 fintech startups**) that won the audience vote for Best of Show at the end of each event: Nov 2020: West Digital – 5 winning demos plus Q&A (50 minutes). Sep 2020: Fall Digital – 5 winning demos plus Q&A (50 minutes). Feb 2020: London – 6 winning demos (42 minutes).

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Fintech Video San Francisco social media 15

FICO

OCTOBER 16, 2020

With ambitious goals to open up banking and decimate fraud, PSD2 has taken a long time to deliver, and we’re not quite there yet. The FICO digital banking survey asked people if the bank account they used the most —likely the issuer of their debit card and often their credit card as well — had their correct mobile telephone number.

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Survey eBook Cards Meeting 52

Fintech Labs Insights

JUNE 30, 2020

Specifically: Feb 2020: London – 6 winning demos (42 minutes) Nov 2019: Dubai – 2 winning demos (14 minutes) Oct 2019: Singapore – 2 winning demos (14 minutes) Sep 2019: NYC – 9 winning demos (63 minutes) May 2019: San Francisco – 7 winning demos (56 minutes). FinovateEurope (Feb 2020). Amber Labs Product : Global Bitcoin Bank.

Fintech 15

Fintech Video San Francisco social media 15

Fintech Labs Insights

SEPTEMBER 25, 2020

So we’ve cobbled together the best of the last 16 months and created a 4-hour playlist for your enjoyment; consider it the best digital education you can get in a half-day. FinovateFall Digital (Sep 2020). Product : BankOS open banking platform. Product : Tools to improve digital adoption by both customers and employees.

Fintech 12

Fintech Video San Francisco social media 12

FICO

OCTOBER 16, 2020

With ambitious goals to open up banking and decimate fraud, PSD2 has taken a long time to deliver, and we’re not quite there yet. The FICO digital banking survey asked people if the bank account they used the most —likely the issuer of their debit card and often their credit card as well — had their correct mobile telephone number.

Survey 40

Survey eBook Cards Meeting 40

PYMNTS

JANUARY 17, 2020

Wells Fargo is aiming to refresh its approach to technology to ensure systems stay online, block cybercriminals and satisfy regulators. Goldman Sachs Group last week debuted its long-awaited app that will integrate with the financial giant’s digital bank Marcus. How AI Helps Marketplaces Fight Off-Platform Fraud .

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Fintech New York City New York Mobile 100

PYMNTS

MAY 29, 2020

Companies that didn’t have online shopping channels couldn’t sell their products, while eateries that didn’t provide online ordering for delivery or pickup couldn’t serve their diners. FIs need to have the ability to find and thwart fraud, without accidentally sweeping up legitimate clients. Retailing 2020: Five Things To Watch.

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Maine ATM Innovation Millennials 130

PYMNTS

MARCH 28, 2017

Now the bank is gearing up to close 150 or more branches and lay off hundreds of employees in an effort to reduce costs, as the march toward digital banking continues to take hold. The report noted RBS is looking to realize £750 million of cost savings in 2017 and a total of £2 billion by the end of 2020.

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Regulation Groups Report Digital Banking 100

PYMNTS

MAY 22, 2017

“Things are changing, but not really at the pace one would expect,” said Nirupama Soundararajan, an economist at Pahle India , a New Delhi-based political research think tank, who believes that the slow rate of change is also reflective of India’s struggle to adopt digital banking services. percent CAGR through 2020.

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Fraud Analysis Payments Regulation 103

FICO

AUGUST 26, 2021

It’s a question FICO’s fraud head honcho, TJ Horan, pondered back in 2016 , when the nascent real-time person-to-person (P2P) payments service Zelle was relaunched by a small consortium of banks (see below). The second most popular app, Venmo, was used by 14% of consumers in 2020. How to Fight Real-Time Payments Fraud.

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Fraud How To Payments US 52

Javelin Strategy & Research

FEBRUARY 1, 2022

2022 Cyber-Trust in Banking Scorecard Javelin Report Date: September 27, 2022 Authors: Suzanne Sando , Alexander Franks Research Topic(s): Cybersecurity , Fraud & Security For consumers to trust their financial institutions, their expectations need to be met and exceeded. Bank of America ranked as “Best in Class” over 20 top U.S.

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Report Digital Banking Fraud Mobile 40