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Identity fraud is soaring. Here's how one lender is attacking it.

American Banker

Axcess Financial is using stronger authentication, studying up on bad actors and planning to use a federal service that automates verification of Social Security numbers.

Fraud 56
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This Week’s Reads: Security, Innovation, Millennials

Banking 2020

Articles via Mobile Payments Today, BAI Banking Strategies, The Financial Brand, Bank News. Study: improved security is key to success for mobile banking: A recent survey from RateWatch revealed that while mobile banking may be struggling to attract new customers, those already using it are doing so more often.

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Three Common Misconceptions about Mobile Security

Banking 2020

Three Common Misconceptions about Mobile Security. Studies show that a person has more anxiety about losing their mobile device than their purse or wallet. The Federal Reserve says half of all Americans with a smartphone are accessing bank accounts using the devices, and one in five has carried out a mobile payment in the last year.

Mobile 40
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M-Pesa open API part of wider payments progress

Banking 2020

This change is aimed at promoting innovation and low cost electronic payment solutions while ensuring that security and data protection are not compromised,” said the European Payments Council. Effectively this will open up access across the industry to payment processing services and bank accounts held by customers.

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Ultraviolet Technology: Q&A with Digital Check

Banking 2020

From the retail point of sale to core banking systems, online security issues have dominated financial headlines in 2014. retailers reporting being targeted, and banks suffering an estimated $650 million in losses from deposit account fraud, according to separate reports by AFP and the American Bankers’ Association.

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French chip and PIN hack ‘most sophisticated ever’

Banking 2020

As the US comes out of its first post-EMV liability shift months, it’s worth looking at how chip cards have evolved over the years to improve security and how lessons learnt in other countries have made smart cards more secure than ever. It’s this combination of secure authentication that is stamping out card-present fraud.

Fraud 40
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Searching for the Future

Banking 2020

That’s why the annual study tracking Google search trends in the banking industry, as seen in the Financial Brand , typically makes for interesting reading. True to form, mobile banking solutions continue to spike in popularity—the billions devoted to development and distribution, not to mention security, seem to be paying off.

Google 86