FICO

MARCH 26, 2018

This is the first in a series of articles in which we tackle some of the most topical fraud issues and decisions facing fraud managers today. While the customer may be satisfied and even gain assurance by being asked to verify the first transaction, having each purchase queried thereafter will most certainly annoy them.

Strategy 93

Strategy Fraud social media Customer Experience 93

FICO

DECEMBER 5, 2022

Top 5 Surprises from FICO’s Fraud and Digital Banking Survey. Our survey found that good fraud protection is paramount for customers - even though they themselves may exaggerate income or claims. A report released by the FTC in February 2022 indicates a 71% increase in fraud in 2021, which cost consumers roughly $5.8

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Survey Fraud Digital Banking social media 52

PYMNTS

OCTOBER 28, 2020

But what isn’t debatable is the essential truth of his purported statement — and how relevant it is to the 2020 holiday shopping season, as Kount Chief Customer Experience Officer Rich Stuppy recently told PYMNTS. Starting With A ‘Fraud Mindset’. Where the money is, the fraudsters go,” Stuppy said.

Fraud 280

Fraud Retail Tools Data 280

PYMNTS

APRIL 15, 2020

Customers of Microsoft can access digital purchase receipts through Canadian tech services firm Ethoca , a subsidiary of Mastercard , and its partnerships with a growing matrix of banks. Ethoca’s Digital Receipts service offers transparency about online purchases to make it easier for people to keep track of what they buy.

Fraud 167

Fraud Cards Tools Online 167

Abrigo

SEPTEMBER 2, 2020

Key Takeaways With more customers leveraging channels like online and mobile banking, community financial institutions are trying to solve how to maintain their hallmark community focus in an increasingly digital world. Technology can create efficiencies that allow them to reimagine customer interactions moving forward.

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Lending Community San Antonio Survey 259

FICO

JULY 4, 2018

For many years, bank fraud teams have had to worry not only about tackling fraud but also about the impact that security and fraud prevention measures have on their customers. With that in mind, we made this short video, with quick tips on how to stay safe online. The short answer? They’re frustrated.

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Video Online Fraud Customer Experience 51

FICO

MAY 19, 2020

History tells us that things like natural disasters, times of economic instability, and fears of recession or unemployment provide the perfect environment for increased fraud and financial crime. So, I thought I would outline my top 5 fraud manager considerations during COVID-19.

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Fraud Management Handbook Cards 52

PYMNTS

NOVEMBER 30, 2020

Kount ’s Chief Customer Experience Officer Rich Stuppy told Karen Webster that porch piracy is one of the easier crimes to commit. And while on its own it would be a challenge, the trouble really begins when consumers start “crying wolf” about porch piracy to commit refund fraud , which as of 2020 is happening en masse.

Fraud 204

Fraud Policies Data Retail 204

Abrigo

SEPTEMBER 2, 2020

Key Takeaways With more customers leveraging channels like online and mobile banking, community financial institutions are trying to solve how to maintain their hallmark community focus in an increasingly digital world. Technology can create efficiencies that allow them to reimagine customer interactions moving forward.

Lending 195

Lending Community San Antonio Survey 195

NCR

JULY 31, 2017

As we explored in the first part of this two-part guide, digital banking fraud is an escalating threat to financial institutions and their customers. Digital banking fraud can take many forms, such as identity fraud and account takeover , which are becoming increasingly common. million in 2016. million in 2016.

Fraud 74

Fraud Digital Banking social media Security 74

South State Correspondent

OCTOBER 20, 2022

While these rules were derived from improving time-on-task, they can enhance bank performance no matter what metrics a bank uses for customer, employee, or total experience (the combination of employee and customer experience). Design or pick the fastest customer experience. ” The result?

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Policies Training Customer Experience Examples 195

South State Correspondent

JANUARY 23, 2023

ChatGPT is a powerful language model that can understand a variety of languages, including emojis, that can assist banks with increasing the productivity of bankers, improving their customer experience, automating repetitive tasks, and providing personalized financial advice to customers.

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Tools Examples Analysis Data 370

PYMNTS

JULY 5, 2019

That reminder sets up a story recently told via a PYMNTS podcast discussion with Yinglian Xie, CEO and co-founder at DataVisor , a company that uses artificial intelligence (AI) to defend against online fraud and other such digital attacks. Fraud Increases. Digital Evolution. trillion in 2018.

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social media Fraud System Data 131

PYMNTS

SEPTEMBER 9, 2016

PYMNTS recently spoke with Luis Rojas, vice president of product management for Guardian Analytics , an online banking security firm, about the effect of a faster processing environment, the potential for increased fraud and how to mitigate that risk. The Mountain View, Calif.-based Risky Business.

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Fraud Analytics Data Payments 100

PYMNTS

JANUARY 22, 2021

Consumers are going online to complete their shopping during the pandemic — even for major purchases typically done in person, such as buying a car. As with any payment method, fraud attacks and human errors can upend customer experiences unless companies have strong security strategies in place.

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Security Fraud Tools Customer Experience 141

PYMNTS

JULY 13, 2020

Account takeovers (ATOs) are a growing source of pain for financial institutions (FIs) and their customers, with losses from these attacks rising 164 percent in 2018. FIs must adopt fraud-fighting measures that are robust but do not create so much friction that legitimate customers find it difficult to access needed services.

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Security Fraud Survey Customer Experience 147

PYMNTS

DECEMBER 12, 2019

While dealing with fraud has always been a cost of doing business for merchants, the digital age has changed the game in terms of fighting off fraudsters. While some have speculated that fear of fraud is keeping some merchants out of the game, Stuppy noted that this wasn’t as big of a concern as some might think.

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Security Fraud Cards Data 132

PYMNTS

APRIL 16, 2020

And for all the brilliant modeling, artificial intelligence (AI) and machine learning (ML) technology we have to throw at the problem of fraud, he said, the good guys are operating at something of a disadvantage when it comes to detecting the scams that are to come. It takes that long to get feedback from consumers on credit card fraud.

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Meeting Fraud Analysis Data 170

Independent Banker

DECEMBER 1, 2021

Additionally, a recent survey by FIS shows that 37% of consumers began a new banking relationship with a major national or global bank that had a well-established online portal in the past 12 months. 18% of these consumers opened an account with an online-only direct bank. How to choose the right FinTech partner.

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Community Bank Community Fintech Guidelines 91

PYMNTS

FEBRUARY 11, 2020

The future of eCommerce, and fraud prevention, is flipping the script from just stopping bad transactions to enabling personalized customer experiences. Or is there a high level of trust that deserves a VIP experience? That is why legacy fraud prevention tools are becoming less and less efficient and effective.”.

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Fraud Security Data Tools 146

FICO

NOVEMBER 12, 2019

Today’s post is about solving the elusive problem of first-party fraud and features commentary from Julie Conroy (Research Director at Aite Group) and Jack Alton (CEO at Neuro-ID). An executive who owns P&L for a consumer lending product line at a large bank was asked about first-party fraud and he compared the problem to a black hole.

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Fraud Resources Industry Groups 40

NCR

DECEMBER 23, 2016

With the huge growth in e-commerce and online shopping in recent years, one factor that’s taking on increasing importance is the issue of security when making online payments. Card-not-present fraud continues to be a major challenge in the online space. What are the proposals? What do the card providers say?

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How To Security Cards Online 40

PYMNTS

MARCH 3, 2017

Coming from a background in behavioral analytics, Hannah now helps the banking industry learn how to deliver a flawless customer experience, while preventing online fraud. Hannah takes great pride in sharing best practice and shifts in technology, regulation, and customer experience demands.

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Security CA Customer Experience User Experience 100

PYMNTS

JUNE 8, 2016

Find out how to leverage innovative, already-available technologies during this evolution in the payments industry. They will also share stories on how these and other challenges have dramatically held some card issuers back. In fact, you may not even be aware that some changes are already underway. Digital Discussion Host: .

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CA Payments Security Customer Experience 100

PYMNTS

MARCH 22, 2018

Retailers must be mindful that omnichannel conduits offer more ways for hackers to commit fraud unless point-of-sale systems, web and mobile are all interconnected, Trueblood said. Consider the fraudster who buys something but picks it up in-store, moving beyond the confines of card-not-present fraud.

Retail 100

Retail Data Fraud Risk Management 100

PYMNTS

MARCH 15, 2019

Connected commerce is among the hottest trends in retail, and not just for streaming or ridesharing or online gaming services, but for subscription purchases, too. For those online transactions that rely on cards on file to complete recurring payments, however, that figure tends to drop to the 60 percent range on average, he said.

Retail 146

Retail Payments Cards United States 146

PYMNTS

APRIL 1, 2020

They insert or swipe their debit cards at stores’ point-of-sale (POS) devices — or key in details online — and maybe enter PINs, but the behind-the-scenes processes through which transactions are routed are kept invisible. It also allows them to choose how to direct customers to authenticate payments, such as with or without PINs.

Cards 141

Cards Payments Security Fraud 141

PYMNTS

MARCH 7, 2018

How to wrap corporate arms around it all? Speed is of the essence, particularly when it comes to fraud-fighting efforts by retail or financial services firms. Real-time analytics can not only detect fraud, but can prevent it from happening in the first place. Value-added data in motion? Definitely so.

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Big Data Data Analytics Fraud 119

FICO

JANUARY 11, 2022

And to be truly successful, bankers and designers need to create a religion around conversion rates and understand what drives them. The Most Important Conversion Rates (online loan example): Application Rate – The number of people who visit your website or download your mobile app vs. the number of people who apply.

Digital Banking 98

Digital Banking Customer Experience eBook UX 98

Independent Banker

OCTOBER 31, 2022

From gaming and online advertisements to autonomous vehicles and smart homes, artificial intelligence (AI) is used in a wide variety of ways. First, with AI’s ability to mimic human intelligence, community banks can quickly process huge amounts of data to ease customer friction. By Susan Springer. Quick Stat. Source: Business Insider.

Community Bank 91

Community Bank Community Customer Experience Data 91

South State Correspondent

OCTOBER 28, 2022

While last year was dominated by crypto, this year, the themes were mainly around fraud and identity (both conferences). Most of the conversations at the conferences were around how to architect, execute, and attract/retain the required talent to pull these solutions off. Big Idea – Blurred Lines Between Online and Offline.

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Conference Technology Las Vegas Trends 195

PYMNTS

OCTOBER 20, 2017

“Customers are more comfortable with online and mobile options in financial services. You have a demographic shift – you have younger customers who tend to rely on technologies, and they’re not being trafficked through your branches.” “FIs are increasingly worried about fraud ,” said Galvin.

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ATM Operations Customer Experience Security 101

PYMNTS

APRIL 1, 2019

In some ways, the average credit union customer is very much like the average customer of any financial institution. Credit union members want a state-of-the-art banking experience with their institutions,” he said. But everyone everywhere is concerned about fraud,” he said. “No

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Innovation Fintech Fraud Security 141

PYMNTS

DECEMBER 18, 2020

Determining how to make the most out of promotions and coupons has even become something of a hobby among some consumers, spurred on by reality shows like “ Extreme Couponing. The biggest single [fraud] threat for us right now is the ability to create artificial coupons that look and feel legitimate,” Rauch said in an interview with PYMNTS.

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Fraud Retail Online Customer Experience 275

PYMNTS

JULY 16, 2019

When people talk about omnichannel as a concept, they are usually referring to the classic retail use case: The customer buys something online and then goes and picks it up at the store, or the consumer picks it up in the store but initiates the return online. These platforms are all focused on customer experience,” Saraf said.

Fraud 138

Fraud Payments Course Mobile 138

Cisco

SEPTEMBER 6, 2019

Armed with these tools, they’re adding speed and ease to banking and completely transforming the customer experience. Algorithms are churning out faster, more accurate credit decisions, speeding up risk assessments, and helping banks catch fraud in real time. Security comes first. Memos matter.

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Training Customer Experience Retail Security 76

South State Correspondent

AUGUST 10, 2023

Fraud detection, for example, must either be run in a separate application and then brought back into the core, or all core processes must stop to run a fraud sequence. Maybe an incoming payment was not processed by another bank, for example, and the customer never received funds. If all that isn’t complex enough, it gets worse.

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System Examples Operations Data 195