PYMNTS

JUNE 5, 2020

FIs must be careful not to lower their fraud-fighting standards in their pursuit of open banking and be selective about the entities they allow in. The need to secure open banking has only grown as financial criminals have stepped up to exploit disruptions caused by the COVID-19 pandemic, he added. How To Quickly Fight KYC Fraud.

Security 174

Security Fintech Data Fraud 174

PYMNTS

OCTOBER 6, 2020

Now these services are about safety and security, with features like curbside pickup and contactless drop-off, [and they’re now] a basic part of business operations,” Tim Ridgely , head of order and delivery at Paytronix, told PYMNTS. Before March, restaurants provided order and delivery services as something extra, more of a convenience.

Fraud 195

Fraud Data Mobile Cards 195

PYMNTS

AUGUST 19, 2019

According to the Restaurant Readiness Index , 80 percent of QSR managers and customers reported positive experiences with loyalty programs. Rewards and loyalty programs also make attractive targets for fraud. One of its moves in an attempt to win back customers was the launching of Chipotle Rewards in May. Chipotle .

Mobile 159

Mobile Fraud Security Data 159

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

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. He also said that what consumers want most keenly in the post-pandemic world is to feel safe and secure.

Customer Experience 250

Customer Experience Security Tools Cards 250

PYMNTS

OCTOBER 24, 2018

When it comes to deploying corporate resources in the battle against online fraud and account takeovers (ATOs), all too often, guiding principles fail to spot what’s really happening to a business in real time. The rule of thumb here is that after committing account takeover fraud, those fraudsters lie in wait before using the stolen account.

Fraud 159

Fraud Risk Management Customer Experience Trends 159

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 5, 2020

What the last few months have demonstrated, he said, is an influx of retailers and sellers that have suddenly realized the need to be much more digitally present and enabled. Where consumers go, fraudsters will always follow, Cohen said – and worldwide, Payoneer has seen a consistent uptick in attempts at fraud of various types.

Fraud 151

Fraud How To Online Meeting 151

PYMNTS

SEPTEMBER 21, 2018

They are buying fraud tutorials and data from other criminals online. The 2018 holiday shopping season has already started for people and organizations bent on fraud. In a new PYMNTS interview, Tricia Phillips, SVP of product at Kount , discussed the fraud trends for the upcoming fourth quarter. Fraud Headstart.

Fraud 145

Fraud Retail Online Course 145

PYMNTS

MARCH 3, 2017

Overview: Join Hannah Preston, Solution Strategist, Payment Security Division, CA Technologies and Karen Webster, CEO, Market Platform Dynamics, on Thursday, March 30th, at 1:00 PM (EST), to learn how authentication is evolving; how it could transform your security and user experience; and how you can tackle the choices and consequences.

Security 100

Security CA Customer Experience User Experience 100

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

Survey 52

Survey Fraud Digital Banking social media 52

ZootBlog

JUNE 21, 2016

In the first part of our series, we uncovered a multitude of statistics regarding the very real fraud threats that financial institutions, consumers, and merchants face on a daily basis. Malo believes the idea of a “frictionless” customer experience is now an outdated and overreaching goal in effective fraud protection.

Fraud 70

Fraud Customer Experience Security Training 70

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.

Security 147

Security Fraud Survey Customer Experience 147

PYMNTS

APRIL 20, 2017

In some cases, Verifi has found that cardholders will use the dispute process as a means to seek a refund — a practice referred to as first-party or “friendly” fraud. According to research cited by Finextra , as much as 70 percent of chargebacks are the result of first-party fraud.

Fraud 108

Fraud Risk Management Customer Experience Management 108

PYMNTS

APRIL 23, 2019

This means fantasy sports platforms must enact robust anti-money laundering (AML), KYC checks and other fraud monitoring services. At the same time, these providers cannot afford to implement security procedures that slow onboarding processes, as that could risk losing customers to competitors that offer the speed and ease they seek. .

Security 108

Security Puerto Rico Data Operations 108

PYMNTS

SEPTEMBER 28, 2020

But as they look to be successful this year, they need to make sure that they’re embracing these digital tools and making sure this customer experience is top notch.”. Burgin added that the good news is that SMBs across the board — from retailers to accounting firms — increasingly understand that they’re vulnerable to fraud.

Fraud 236

Fraud Customer Experience Tools Retail 236

PYMNTS

APRIL 15, 2020

This initiative aligns with Microsoft’s commitment to providing the best customer experience at every occasion, including access to Microsoft’s own Azure-based digital receipt and purchase information. Mastercard acquired Ethoca in March 2019 to identify and resolve fraud in digital commerce and advance online protection.

Fraud 167

Fraud Cards Tools Online 167

FICO

AUGUST 24, 2021

As a fraud professional, you may feel as though your organization walks a tightrope, balancing minimal customer friction with maximum risk mitigation. Through the lens of the customer journey, we may need to combine a fraud decision and an authentication decision, or identity proofing and KYC compliance decisions.

Fraud 52

Fraud Tools Compliance ATM 52

PYMNTS

FEBRUARY 5, 2020

The NACHA Phixius platform enables connected service providers to securely exchange payment-related data. The present system uses laborious bilateral agreements, which limits wide-spread collaboration. In addition, manual processing currently used can lead to misapplied payments while opening the door to fraud.

Data 130

Data blockchain Fraud Customer Experience 130

FICO

JULY 13, 2020

But for criminals, working individually or in fraud rings, these vehicles (or any vehicle, for that matter), present an attractive opportunity: finance the vehicle, sell it illicitly, and pocket the cash. An estimated 10% to 15% of auto finance companies’ bad debt book actually classifiable as first-party fraud.

Fraud 52

Fraud Analysis United States Risk Management 52

PYMNTS

MAY 20, 2020

For merchants and financial institutions (FIs), the “new normal” of commerce — done increasingly online — means that battling fraud is a bit like feeling an elephant. Unfortunately, this current environment presents some of those opportunities.”. Adaptive Is Better Than Static.

Fraud 208

Fraud Examples Data Tools 208

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. Examples include fake emails from CDC, WHO, and FEMA.

Fraud 52

Fraud Management Handbook Cards 52

PYMNTS

SEPTEMBER 8, 2020

In the mad dash for small firms to secure capital, many sought their PPP loans from banks other than their usual financial service providers, creating a logistical nightmare for financial institutions (FIs) that still rely on manual and outdated customer onboarding workflows. A Better Business Customer Experience.

Fintech 198

Fintech Compliance Fraud social media 198

FICO

JANUARY 23, 2019

FICO recently hosted 60 banking fraud professionals from 33 organizations and 8 countries at its Asia Pacific Fraud Forum. Attendees were keenly interested in how artificial intelligence and machine learning continues to be a key technology in the fight against fraud and financial crime. Banking Fraud - The Need for Speed.

Fraud 40

Fraud Analytics Compliance Data 40

PYMNTS

AUGUST 23, 2019

These marketplaces also need to make sure that payments, however quick, remain safe and secure as fraudsters continue to hammer at the gates. The Playbook also examines the increasing threat of fraud as more marketplaces deal with data breaches and their aftermath. To learn more, visit the Playbook’s feature story.

Millennials 165

Millennials Trends Meeting social media 165

PYMNTS

SEPTEMBER 21, 2018

The popularization and widespread adoption of digital and mobile banking tools have presented banks with plenty of new opportunities, but they’ve presented new risks as well. Cybercriminals are finding new fraud opportunities as consumers turn to connected channels to manage their bank accounts. Getting Customers To Buy In.

Fraud 100

Fraud Security Cards Mobile 100

FICO

JANUARY 19, 2021

As COVID-19 has spread, concerns about fraud have increased. fraud managers , their biggest concern in 2020 was synthetic identity fraud - 52% reported that this was their biggest issue in identity fraud control. What Are the Key Elements for Securing Digital Accounts? According to an Aite Group survey of U.S.

Fraud 52

Fraud Customer Experience Security Data 52

PYMNTS

JUNE 8, 2016

Soon, you will see more and more global regulatory changes in the payment industry that could impact your payment security strategy. – Is your data at the center of your security strategy? Digital Discussion Presenters: Carol Alexander. Solution Strategist, Payment Security Division, CA Technologies. Hannah Preston.

CA 100

CA Payments Security Customer Experience 100

Gonzobanker

MARCH 28, 2024

The digital players are working to differentiate based on stronger customer experience features and tight integrations in areas such as financial health, data-driven marketing and fraud/security. Demand concrete evidence for each feature, use case and integration presented by a provider.

Digital Banking 134

Digital Banking Customer Experience Strategy Exercises 134

PYMNTS

APRIL 2, 2020

“Retailers selecting a card authorization method and network are often concerned with the impact on consumer convenience, their own bottom lines and security,” the report states. Signature debit is often more prone to fraud because signatures are relatively easy to fake and rarely subjected to scrutiny. Merchants Making Decisions.

Cards 130

Cards Comparison Fraud Retail 130

PYMNTS

MAY 16, 2019

But new data suggests that over the past year, the economics of supply and demand have helped to double the average price fetched by card-not-present data, meaning cybercrooks now have far more incentive than ever to target eCommerce stores.”. Hackers obtained names, addresses and contact details for the customers. Rising Prices.

Retail 218

Retail Online Cards Data 218

Insights on Business

APRIL 2, 2019

Customers increasingly demand new payment options like real-time payments and P2P payments, underpinned by security and trust. Exposure to operational risks, data breaches and fraud losses can rise as a consequence of adopting new payment types and channels. Applying technologies to modernize payments.

Payments 125

Payments New York City Fraud New York 125

PYMNTS

SEPTEMBER 21, 2018

In the call center space, meanwhile, service providers are upping their use of automation and security technologies. Avtex is looking to help call center clients more securely handle customer payment information. Around The Call Center World. Leveraging AI For Quicker Insurance Claims Service.

Trends 152

Trends Security Technology Training 152

PYMNTS

APRIL 19, 2017

A biometric security startup with a fast growing membership-based secure identification program just recently scored a considerable amount of additional funding. CLEAR , the popular security line-busting experience that can be found at some 21 airports and six baseball stadiums around the U.S.,

Security 100

Security Customer Experience Cards Fraud 100

Insights on Business

OCTOBER 16, 2018

The IBM team will present on a variety of topics ranging from AI to the future of payments to the current trends in financial services. Creating compelling AI omni-channel customer experiences. Warren Raisch, IBM Executive Strategist, Watson Customer Engagement. The future of payment fraud prevention. 1:00-1:45 PM.

Fraud 117

Fraud Customer Experience Analytics blockchain 117

PYMNTS

OCTOBER 8, 2019

On the one hand, this is good news, Bayliss told PYMNTS in a recent interview, because a phased supervisory period presents an opportunity for all the stakeholders in the payments and commerce ecosystem to make sure they are technologically and operationally prepared to roll out the best possible version of technology that supports SCA.

Compliance 156

Compliance Security Industry Regulation 156

NCR

SEPTEMBER 7, 2016

Fraud continues to be a significant challenge for the financial services industry. Statistics from Synergistics showed 53 per cent of internet households that responded to an online poll reported they had previously suffered identity theft or fraud. The organization claimed fraud has risen 71 per cent over the last decade.

Fraud 40

Fraud Cards Study Software 40