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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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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. About the Tracker.

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Payments fraud remains a key issue for FIs, survey shows

NCR

A report by the Federal Reserve Bank of Minneapolis revealed that three-quarters of FIs (75 percent) describe payments fraud as a problem. What’s more, 96 percent of debit card issuers and 77 percent of credit card issuers reported losses in 2016. More than 80 percent of FIs report that they now use this technology.

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Data Dive: FedEx Competes, BoA Automates And Hackers Hack … Everyone, Including Each Other

PYMNTS

The new automated branches — apart from being employee-free — are also smaller and more technologically decked out than their standard counterparts. They also tend to be focused a bit differently, with a focus on mortgages, credit cards and auto loans, specifically. A little bit about what the future will look like. Until next week.

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

NCR

This concept has been around for some time. In Europe several countries who have deployed this sort of defense strategy have seen major reductions in the amount of card fraud losses. The opt-in service takes advantage of US Bank’s FlexPerks mobile app and the GPS technology included on smartphones. A more effective solution?

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Top 63 Online Digital Banks for U.S. Consumers (Nov 2023)

Fintech Labs Insights

The first, online bank Security First Network Bank (SFNB) launched in 1995, just a year after Amazon.com. 161 $323 21 Branch 357 2015 Minneapolis 222,000 $633 22 Albert 315 2015 LA 1,270,000 $176 23 Current 307 2015 NYC 856,000 $402 24 Greenlight 302 2014 Atlanta 458,000 3.8 Consumers have been banking online for 28 years.

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Frictionless Payments And Top Mobile Banking Innovation

PYMNTS

Banks are turning to digital technology to enhance the customer experience — and reduce payment friction — in an effort to boost top and bottom lines. But, in terms of branches, the bank seeks to grow its physical footprint in new markets such as Denver, Indianapolis, Minneapolis and Salt Lake City. JPMorgan Chase.

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