PYMNTS

SEPTEMBER 21, 2020

Consumers are using mobile apps’ order-ahead features and loyalty perks more often during the COVID-19 pandemic, yet chargeback fraud — also known as friendly fraud — is unfortunately also rising. Chargebacks were originally instituted as a last resort for customers, but they have gained popularity alongside digital commerce.

Fraud 177

Fraud Mobile social media Customer Experience 177

Perficient

AUGUST 1, 2022

Salesforce’s NFT service has prioritized its security features to help combat fraud and help instill confidence in those looking to purchase NFTs. Salesforce noted that the pilot will provide sellers and purchasers with validated smart contract templates as well as fraud prevention measures such as the ability to stop assets and wallets.

blockchain 294

blockchain Chicago Fraud Conference 294

FICO

FEBRUARY 23, 2022

When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money.

Fraud 98

Fraud Survey Customer Experience Retail 98

PYMNTS

JULY 25, 2017

From enhancing the supply chain process to learning more about consumers’ shopping behavior, machine learning is a technology that’s at the forefront of retail advancements and innovation. In 2016, online financial fraud hit 15.4 million Americans, a 16 percent increase to $16 billion in stolen money.

Fraud 196

Fraud Online Retail Maine 196

PYMNTS

OCTOBER 8, 2020

A survey found that 62 percent of customers worry about fraud — such as pilfered payment details, account takeovers or fake reviews being left in their names — when interacting with QSRs.

Innovation 141

Innovation Fraud Mobile Security 141

South State Correspondent

JANUARY 23, 2023

In three months, it has become the primary tool of many bankers, helping make banks more efficient across the organization. Our innovation working group, called Spark, has been playing with the tool for the past several months, and this article details how we use it to jump our productivity by 20%.

Tools 370

Tools Examples Analysis Data 370

PYMNTS

JUNE 22, 2017

Fighting fraud is a lot harder online, and a lot harder for merchants and consumers, as card-not-present transactions become the preferred method of malfeasance. In one recent announcement, payments provider TSYS and real-time learning technology platform Featurespace said they were joining forces to offer fraud prevention tools.

Fraud 162

Fraud Tools Cards Online 162

PYMNTS

JUNE 13, 2019

If it seems like cases of fraud and hacking are always in the news, that’s because new incidents pop up practically every day. According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2 According to the new Digital Fraud Tracker , total losses due to fraud equaled $4.2

Fraud 110

Fraud Security Retail Tools 110

FICO

FEBRUARY 16, 2022

Banks must be prepared to help stop scams, including making customers more aware of the danger, all while continuing to ensure an exemplary customer experience. FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management.

Survey 52

Survey Fraud US Customer Experience 52

FICO

FEBRUARY 16, 2022

Banks must be prepared to help stop scams, including making customers more aware of the danger, all while continuing to ensure an exemplary customer experience. FICO published our 2021 Digital Consumer Banking and Fraud Survey today that emphasizes consumer perspectives on customer experience and fraud prevention management.

Survey 52

Survey Fraud US Customer Experience 52

PYMNTS

MAY 22, 2018

In a press release , TransUnion said the acquisition boosts its position in fraud and identity management. My team is committed to working together with TransUnion to set the standard for stopping fraud and abuse while improving customer experience.”

Fraud 100

Fraud Tools Customer Experience Strategy 100

Insights on Business

OCTOBER 3, 2018

IBM RegTech Innovations. These technologies bring capabilities that speed risk modeling, automate fraud detection, ensure regulatory compliance, enable distributed trust, and protect sensitive financial information. We have developed a new approach to detecting financial crimes and fraud using graph analytics and machine learning.

Industry 155

Industry Innovation blockchain Compliance 155

PYMNTS

JULY 11, 2019

Call centers are starting to use AI not just for data insights, but as a way to keep payments and other facets of the customer experience safe from bad actors. The assistant helps categorize and sort customer inquiries before they reach a human agent. How Delta is Leveraging Apple, AI For A Better Customer Service Experience.

Fraud 166

Fraud Apple Customer Experience Mobile 166

FICO

FEBRUARY 23, 2022

When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money.

Fraud 52

Fraud Survey Customer Experience Retail 52

FICO

MAY 27, 2021

To understand which tools can truly help companies in the process of digital transformation, it is essential to understand the concept of a platform. It is the decision-making platforms that guarantee the effectiveness of these processes and contributes to the loyalty and enchantment of the end customer. by Alexandre Graff.

Customer Experience 52

Customer Experience Guidelines Operations Analysis 52

FICO

MARCH 10, 2022

I’ve been writing recently about the results of our recent global consumer fraud survey. But like most things, it’s not as simple as it sounds, as large customer groups are likely to switch banks if they are dissatisfied with their response to a fraud management incident (more on that in a moment).

Fraud 52

Fraud Survey Cards Customer Experience 52

PYMNTS

JULY 1, 2020

Tokens are incredibly powerful tools to secure data and safely transport it from one point to another. He said tokens are capable of providing a wide world of possibilities beyond their traditional use as just security tools.

Customer Experience 250

Customer Experience Security Tools Cards 250

FICO

MARCH 30, 2023

Both from a cash and a fraud perspective, my curiosity was piqued, and I fell down the rabbit hole to learn more. Fraudsters Love Digital Real-Time Payments All this rapid change is great for one thing — fraud. This is the scam where the unwitting customer is fooled into sending real-time money transfers to scammers.

Fraud 52

Fraud ATM South Carolina Management 52

PYMNTS

JUNE 27, 2019

Fraudsters are finding new ways to slip past technological defenses, which leaves banks constantly upgrading the tools used to keep them out. For better authentication, financial institutions (FIs) are experimenting with artificial intelligence (AI) and biometrics, attempting to create security measures that don’t frustrate consumers.

Customer Experience 109

Customer Experience Digital Banking Innovation Security 109

PYMNTS

AUGUST 23, 2019

In the August edition of the Payments And The Platform Economy Playbook , PYMNTS examines how marketplaces are using technologies such as artificial intelligence (AI) and mobile payments to innovate the customer experience. Fraud remains an ever-present challenge, however, and marketplaces worldwide are deploying new defenses.

Millennials 165

Millennials Trends Meeting social media 165

PYMNTS

JANUARY 22, 2021

As with any payment method, fraud attacks and human errors can upend customer experiences unless companies have strong security strategies in place. Alvarez explained in a recent PYMNTS interview how effectively securing real-time transactions requires thorough contingency planning and advanced customer verification methods.

Security 141

Security Fraud Tools Customer Experience 141

PYMNTS

JANUARY 13, 2020

percent of FIs believe AI is an effective tool for stopping fraud before it happens, and 80 percent of AI-using fraud specialists believe the technology could reduce payments fraud. Apart from that, from a customer management perspective, customer attrition is another use case that is gaining prominence,” said Dhala.

Fraud 207

Fraud Customer Experience Data Technology 207

PYMNTS

MAY 10, 2019

Among the highest ideals for digital payments – driving innovation in transactions and customer experience – is, of course, the concept of seamlessness. In short, the new rule might require companies that deal with ACH payments to retool their fraud detection systems. How much effort will that require, then?

Payments 178

Payments Fraud Security Customer Experience 178

PYMNTS

DECEMBER 12, 2019

They must also take a more balanced approach to growth, sidestepping the payments innovation mistakes that established players have already made, according to Colin Gardiner, chief revenue officer for shared RV marketplace Outdoorsy. “We Fraud, Payment Regulations Are Affecting Seamless Payments.

Payments 137

Payments Fraud Regulation Innovation 137

PYMNTS

FEBRUARY 1, 2019

Many financial institutions are achieving this state of vigilance by investing in artificial intelligence (AI) and machine learning (ML) solutions as part of their anti-fraud efforts. . But as Jeremy Balkin, head of innovation for Swiss bank HSBC , recently told PYMNTS, even AI and ML need assistance sometimes — from humans. .

System 123

System Digital Banking Fraud Customer Experience 123

PYMNTS

SEPTEMBER 5, 2019

Fraud protection has never been taken lightly by call centers, but the need for stricter authentication is reaching new levels in the face of automated bot attacks and near-daily account takeover (ATO) attempts. KBA tools use information that bad actors can easily obtain, like passcodes or PINs, making stronger methods favorable.

social media 116

social media Fraud Tools Knowledge Base 116

South State Correspondent

OCTOBER 26, 2023

As can be seen, the conference largely revolved around payments, artificial intelligence, fintech partnerships/management, regulation, and fraud/identity in its various forms. The discussions were healthier, more compliance-focused, and with little expectations that banks were going to offer crypto to their customers any time soon.

Conference 221

Conference Las Vegas Fraud Case Study 221

PYMNTS

APRIL 22, 2020

Banks must enable fast and seamless onboarding experiences, but these processes should also be secure. New account fraud is a significant problem for FIs, with 48 percent of values generated from fraud attempts coming from accounts that have only been open for one day, according to a recent report.

Security 133

Security Data Fraud Tools 133

PYMNTS

SEPTEMBER 6, 2019

The number of facilities looking for alternatives has doubled since 2018, with 17 percent utilizing MFA to better protect against fraud. The need for newer, stringent authentication comes as call centers — especially those for banks and other financial services — are getting hit with increasingly sophisticated fraud.

Fraud 122

Fraud Technology Security Tools 122

Gonzobanker

JANUARY 18, 2024

Regulatory headwinds, iffy economic conditions and a more conservative approach to tech innovation spending are combining to put a damper on BaaS growth. The “employee experience” will be an area of focus. C’mon, you’ve got to be at least half as tired of hearing about the “customer experience” as I am. Big surprise, eh?

Fintech 88

Fintech Customer Experience Tools Payments 88

PYMNTS

JULY 24, 2019

According to a recent survey , 90 percent of businesses now expect real-time payments – but, as with many innovations, there is a gap between expectations and reality. FinTechs have been partnering with banks to drive innovation and increase usage of real-time B2B payments. Security as an Added Benefit.

Payments 167

Payments Survey Community Bank Fraud 167

ZootBlog

JANUARY 14, 2016

Over the past several years as banks focused on staying in compliance with myriad new regulations, innovation slowed—nearly to a standstill. They forged partnerships with companies that have come to be known as disruptors in our industry, gave mobile banking new meaning, and focused on creating a great customer experience.

Innovation 73

Innovation Industry blockchain Customer Experience 73

PYMNTS

OCTOBER 10, 2018

Rarely does the wire transfer come into play as an exciting, innovative payment rail ready to disrupt cross-border B2B payments. The wire transfer, made popular by Western Union more than 150 years ago, may not seem to be the most innovative rail. Thieves attempted to steal $5.3 counterparts are not available.

Fraud 116

Fraud Compliance Innovation Payments 116

PYMNTS

SEPTEMBER 9, 2019

This is where artificial intelligence (AI) and machine learning (ML) are beginning to emerge as critical tools that allow industry providers to better compete and satisfy customers. Insurers view AI as a tool with the potential to support everything from speedier payments to fraud protection. billion within the same year.

Tools 148

Tools Study Technology Examples 148

PYMNTS

MAY 4, 2020

Reducing friction is the domain of payment orchestration platforms (POPs), “…that can help businesses tailor their purchasing experiences to each market’s local preferences. As even SMBs add increasingly cloud-based technologies, management of data and tools themselves becomes a bear for many organizations.

Payments 130

Payments Customer Experience Regional Online 130

PYMNTS

MARCH 3, 2020

Digital-first transformations can improve personalization and operating efficiencies, but they also bring challenges, including adoption-related costs and new avenues for fraud. The following Deep Dive explores the benefits digital-first banking can offer customers as well as the challenges inherent in such transformations. million.

ATM 151

ATM Fraud Study Regional 151

FICO

NOVEMBER 30, 2022

Artificial intelligence and machine learning models can help banks stop scams, prevent losses to fraudsters and improve customer experience. Consumers are not as worried about APP fraud and scams as they are for other types of fraud, but awareness is growing. Authorized Payment Fraud – A Global Concern. FICO Admin.

Fraud 52

Fraud Management Customer Experience Strategy 52