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New Cloud-Based Card-Issuing System Aims To Standardize Payments Security

PYMNTS

Entrust , an identities, payments and data protection firm based in Minneapolis, on Monday (Oct. 19) announced that its Sigma Instant Desktop Issuance product will set “the standard for simple, secure and smart instant-ID solutions across enterprise, healthcare, government, higher education and financial institutions (FIs)."

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Payments Fraud Rides Money Mules Into 2019

PYMNTS

It’s no surprise that payments fraud is on the rise. Juniper Research , for example, has estimated that retailers will lose as much as $130 billion in card-not-present (CNP) fraud through 2023 — as tech gets more complex and transactions are done across borders. Then again, the fraud may be a bit more low-tech and on-site.

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Payments fraud remains a key issue for FIs, survey shows

NCR

Financial institutions (FIs) in the US continue to rate payment fraud losses as one of their most pressing issues, with a new study finding that the majority of banks are experiencing such problems. A report by the Federal Reserve Bank of Minneapolis revealed that three-quarters of FIs (75 percent) describe payments fraud as a problem.

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TRENDING: Inside GDPR’s Enforcement Strategies

PYMNTS

A February 2018 study from the Federal Reserve Bank of Minneapolis found that 75 percent of American financial institutions incurred losses due to fraud last year. And with that, governments and security solution providers are stepping into the fray with the aim of combatting fraudsters. Notable Digital ID News.

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Could geolocation be the next tool in the fight against fraud?

NCR

Improving fraud detection and prevention is a top priority for any financial institution (FI), but banks face a delicate balance to get this right. Therefore, reducing false positives without impacting the overall effectiveness of fraud prevention strategies needs to be a focus for any bank. Knowing your customers’ location.

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Fintech Fundings: 26 Companies Raised $530 Million Third Week of July

Fintech Labs Insights

HQ: Minneapolis, Minnesota. Tags: Consumer, payments, debit card, billpay, funds transfer, mobile, personal financial management, PFM. Source: Finovate. Payment gateway. Latest round: $17.5 million Series B. Total raised: $20.4 HQ: Bangkok, Thailand. Source: Crunchbase. Deposit Solutions. Retail deposits platform. Latest round: $16.5

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Fintech Fundings: 21 Companies Raise $440 Million Week Ending July 23

Fintech Labs Insights

HQ: Minneapolis, Minnesota. Tags: Security, enterprise, business intelligence, compliance, ERM, fraud protection. Mobile point-of-sale solution for feature phones . HQ: Mumbai, India. Latest round: $25 million Series C. Total raised: Unknown. Source: Crunchbase. Platform-as-a-service provider. HQ: Troy, New York. Mint Payments.

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