article thumbnail

10 Questions Banks Should Ask About Their Digital Account-Opening Capabilities

Perficient

When customers can apply for the Apple Card, for example , and receive approval and begin using it in minutes, patience with financial institutions that take longer will wear thin. Many banks continue to use knowledge-based authentication and out-of-wallet questions, which have challenges when customers have recently moved.

article thumbnail

Fiserv Rolls Out Enhanced Consumer Authentication Solutions

PYMNTS

22) that it has rolled out two enhanced consumer authentication solutions, step-up authentication and identity verification, to mitigate card fraud within call centers. In a press release , Fiserv said the two new solutions expand beyond knowledge-based consumer authentication that can be vulnerable to fraud.

Fraud 101
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Friendly Friction Builds Better Banking Experiences

PYMNTS

According to a recent study by Citibank , 31 percent of consumers use their mobile banking app more than any other — placing mobile banking behind only social media and weather for most frequented mobile destinations. Consumers’ preferences are undeniably shifting digitally when it comes to banking and financial services.

Mobile 169
article thumbnail

FinovateSpring 2016 Live Blog – Day 2

William Mills

Credit cards offer rewards but over 60% of payments are made on debit cards. Demo: Sezzle app with knowledge based authentication to link bank accounts. Chip card reader for when customers are shopping online to improve security. Verifies the card and pushes that information onto the merchant.

Video 40
article thumbnail

Identify Proofing’s Break With Fraud’s Tradition

PYMNTS

According to Barnhardt, social media may hold value for applications in which machine learning and artificial intelligence (AI) hold sway. must take a picture of him or herself via tablet, mobile device or PC, and also upload an image of his or her ID card, allowing the insurance firm to match both images.

article thumbnail

Confirming Identity, An Art And Science

PYMNTS

The reason Yahoo was targeted, said Geiman, was because bad guys wanted to get the answer to knowledge-based questions. The third data point is the percent of social logins to third party sites — that is, a merchant or a content site — that Google and Facebook represent.

Data 101
article thumbnail

Killing Strategy: The Disruption Of Management Consulting

CB Insights

As a result, the company’s web traffic and sales conversion rates were lower than its competitors’ rates; its social media presence was limited; and its existing CRM tools failed to capture online insights to help the company better engage consumers.