PYMNTS

MAY 4, 2020

Customers and merchants rely on their banks and credit unions (CUs) to ensure they have secure, convenient online transactions, and many FIs work to detect fraud by looking for abnormal purchasing behaviors that could indicate something is amiss. Around The FI Fraud Decisioning World.

Fraud 197

Fraud Data Tools Online 197

PYMNTS

NOVEMBER 20, 2019

This rampant availability of users’ data makes it easier for bad actors to wreak havoc and commit fraud. She recently spoke to PYMNTS about how Scotiabank has revamped its fraud strategy in recent years. “I The increasing sophistication of fraud attacks has led Scotiabank to reassess how it employs AI, ML and automation.

Fraud 117

Fraud Data Management Analytics 117

PYMNTS

NOVEMBER 16, 2020

Fraud targeting digital banking users has been around as long as digital banking itself, but it has recently become more prevalent. The pandemic is exacerbating the problem, with a study finding that 22 percent of Americans were the targets of pandemic-related fraud attempts as of March.

Fraud 182

Fraud Security Strategy Digital Banking 182

PYMNTS

NOVEMBER 19, 2019

The fact that fraud is on the rise is not new, nor is it surprising that banks are turning to artificial intelligence (AI) and machine learning to fight back. In the latest Digital Banking Tracker , PYMNTS looks at how banks are currently approaching their use of AI and machine learning in fraud protection and technology innovation.

Fraud 109

Fraud Digital Banking Innovation Data 109

Independent Banker

JUNE 30, 2022

What is synthetic identity fraud? In recent years, the emergence of synthetic identity fraud has highlighted many gaps in legacy systems’ ability to keep up with tech-savvy fraudsters. The challenges of synthetic identity fraud. Data breaches continue to expose sensitive personal information.

Fraud 91

Fraud Training Leadership Resources 91

PYMNTS

JULY 29, 2019

To accommodate this shift and the nation’s growing number of internet and smartphone users, tech giants like Amazon and Facebook are launching digital banking solutions focused on mobile devices. The following Deep Dive explores AI’s fraud-fighting uses and how the technology can offer more personalized services.

Digital Banking 181

Digital Banking Fraud ATM Mobile 181

PYMNTS

JANUARY 19, 2021

But as GeoGuard CEO David Briggs and People’s United Bank VP of Financial Crimes and Fraud Intelligence Karen Boyer told Karen Webster, realizing the full benefits of using geolocation will take a bit of education – for consumers, yes, but also for banks. Not all data are created equal, of course.

Data 227

Data Fraud Los Angeles Compliance 227

PYMNTS

OCTOBER 11, 2019

In restaurant technology, cloud kitchens have emerged as a new model driven by the rise of online ordering. And, in digital banking, banks are innovating with their strategies for fraud protection and anti-money laundering (AML). All this, Today in Data. 46B: Approximate amount of U.S.

Trends 122

Trends Innovation Technology Marketing 122

PYMNTS

FEBRUARY 18, 2020

Banks are increasingly embracing new channels to offer seamless omnichannel services to their customers, but doing so often creates silos that handle large amounts of collected data. Omnichannel Fraud Protection. Banks Bet On Digital Banking . consumers now use mobile banking.

Fraud 131

Fraud Customer Experience Compliance Survey 131

PYMNTS

JUNE 13, 2019

Countering digital fraud is a lot like playing whack-a-mole: As soon as one fraudster is taken out, two more pop up where they’re least expected. The popularity of digital banking services has created ample opportunities for bad actors, leaving banks scrambling to protect themselves against the rising tide of fraud.

Fraud 128

Fraud Analytics New Jersey Data 128

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

PYMNTS

SEPTEMBER 19, 2019

The threat of a data breach is now an ever-present part of life for customers and the banks that serve them. A reported 3,813 data breaches across a number of industries — collectively exposing 4.1 Banks thus need to accurately determine potential customers’ legitimacy as soon as they decide to sign up.

Fraud 144

Fraud Data Mobile Tools 144

PYMNTS

SEPTEMBER 12, 2019

FIs and FinTechs increasingly encounter new forms of fraud as they expand their digital operations, making it all the more important that they have strong risk assessment and compliance systems in place. A team of analysts can only handle so many potential fraud cases at a time, after all. . resources.

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

APRIL 30, 2020

CUs are seeing an increased number of phishing emails and overall digital fraud since the pandemic started, with 22 percent of American consumers reporting they have been targeted by virus-related online fraud, according to one survey. How Data-Driven Processes Can Improve Members’ Experiences During The COVID-19 Pandemic.

Data 188

Data Meeting Arizona Analytics 188

FICO

MAY 6, 2022

Following the highly successful The 11 Commandments of Digital Banking eBook , we are completing our series of 5 deeper dive blog posts that group the 11 Commandments below into common themes: Digital lift-and-shift is not a strategy! Respect the data. Be fascinated by your customers, not your technology.

Digital Banking 52

Digital Banking System Data Customer Experience 52

Gonzobanker

JANUARY 4, 2023

Back in the day, when I was the CIO of a bank, we had a Technology Plan. It was a single document that had every aspect of the bank’s technology goals for the year – hardware, software, vendors, projects (all led by information technology, or IT, by the way) – the entire bank IT budget. digital banking).

Technology 78

Technology System Software Groups 78

PYMNTS

SEPTEMBER 18, 2019

Mobile and online banking providers have been upping their fraud protection measures over the last decade, making it more difficult for bad actors to rely on some of the schemes that previously worked in such channels. Banks are dealing with rapid rises in fraud schemes such as ATOs, synthetic identity fraud and account opening fraud.

Fraud 195

Fraud US Tools Strategy 195

PYMNTS

JULY 29, 2019

The big deal is now complete: Fiserv announced this morning (July 29) that it has completed its acquisition of First Data Corporation. The two massive firms first inked the deal earlier this year, which will see Fiserv purchase First Data for $22 billion in an all-stock transaction. He also noted that outside the U.S.,

Data 185

Data Leadership Taxes System 185

PYMNTS

NOVEMBER 23, 2018

In banking and payments architecture, especially in the digital realm, a corollary might be “form and function co-exist, and should be flexible enough to change rather quickly.”. He offered as another example the ability to pay an energy bill — and find out through real-time data what the average rate is for a given suburb.

Digital Banking 134

Digital Banking Mobile Data Marketing 134

PYMNTS

SEPTEMBER 4, 2019

Global digital banking firm i2c Inc. and STAR (a First Data company). Gray joins the company as head of fraud and risk solutions. Founded in 2001 and headquartered in Silicon Valley, the company has a multi-function payments and digital banking platform with “building block” processing technology.

Leadership 129

Leadership Digital Banking Industry Fraud 129

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.

Fraud 74

Fraud Digital Banking social media Security 74

PYMNTS

JULY 25, 2019

Customers have varying banking needs, but the global fraud phenomenon tends to have equal impacts. Banking customers are affected by attacks ranging from phishing schemes to identity scams, and it is still up to FIs to provide accurate and real-time protection regardless of where their customers are located.

Fraud 164

Fraud Marketing US Resources 164

PYMNTS

NOVEMBER 17, 2020

But, as three banking security experts told Karen Webster, that same trillion-dollar loss represents a significant authentication opportunity for financial institutions (FIs) if they leverage risk-based authentication and behavioral analytics to help shape and safeguard the great digital shift.

Fraud 195

Fraud Mobile social media Security 195

PYMNTS

APRIL 22, 2020

Banks are jostling for space in the market because an expanding number of FinTechs and large-scale technology companies are competing for the same set of consumers. Banks must enable fast and seamless onboarding experiences, but these processes should also be secure. Data and Authentication Frustrations.

Security 133

Security Data Fraud Tools 133

PYMNTS

JULY 27, 2020

Digital banking and eCommerce are making rapid gains in 2020 as consumers turn to online channels to make purchases and avoid potential exposure to COVID-19. Synthetic ID fraud can be especially hard to spot. Long-running synthetic ID schemes have illuminated gaps in FIs’ traditional fraud-fighting measures.

Data 146

Data Fraud US social media 146

PYMNTS

JUNE 10, 2020

In one of the signs of where we are and where we are headed in the warp-speed transformation of digital banking, consider the internet meme that poses a multiple-choice question and series of answers. Who led the digital transformation of your company? A) CEO B) CFO C) COVID-19.”.

Digital Banking 145

Digital Banking Mobile Security Examples 145

NCR

JULY 28, 2017

The ongoing development of digital technology has created unprecedented choice and freedom for consumers in how they manage their financial affairs. As people complete more financial tasks and transactions via digital channels, there is more scope for fraudsters to exploit the weakest links in security. An escalating threat.

Fraud 74

Fraud Digital Banking Survey Security 74

PYMNTS

AUGUST 16, 2018

Risk looms large with rampant growth in fraud, however, and financial institutions (FIs) must stay guarded to prevent cybercrime. In a recent interview with PYMNTS, he noted the development could help FIs find and recognize common elements in legitimate payment data. “AI Reducing Risk By Fighting Fraud. billion, respectively.

Digital Banking 101

Digital Banking Fraud Data Tools 101

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

DECEMBER 19, 2019

M&A initiatives and partnerships, Open Banking business models and data integrations, and significant investments in new, cloud-based products and services have legacy banks working intensely to meet customers’ digital demands. ” Big Banks’ Big Security Concerns. . In the U.K.,

Fraud 104

Fraud Payments Security Fintech 104

PYMNTS

OCTOBER 14, 2019

Money laundering and similar forms of fraud have become more concerning for FIs as reports of cybercrime circulate globally. Recent scandals involving Deutsche Bank and Swedbank have made consumers reconsider their trust in FIs, many of which are scrambling to keep fraudsters out and bring consumers back. financial regulations work.

Strategy 109

Strategy Fraud Innovation Regulation 109

PYMNTS

AUGUST 15, 2018

Businesses in nearly every industry need to worry about risks, especially when it comes to fraud and security. But those dangers are even more pressing in the banking industry, where bad actors are increasingly attacking financial institutions (FIs) on multiple fronts, and using multiple techniques. Around The Digital Banking World.

Fraud 103

Fraud Report US Digital Banking 103

PYMNTS

OCTOBER 2, 2019

Consumers want their digital banking experiences to do more than just provide security, and processes that are not seamless could frustrate them into seeking alternatives. Banks are employing artificial intelligence (AI) and machine learning (ML) tools to strike that balance. A Layered Approach to Security.

Fraud 109

Fraud Security Tools Data 109

FICO

JANUARY 11, 2022

Last year we published a highly successful The 11 Commandments of Digital Banking eBook that introduced the 11 commandments: Digital lift-and-shift is not a strategy! Respect the data. Be fascinated by your customers, not your technology. Digital Lift-and-Shift Is Not a Digital Banking Strategy.

Digital Banking 98

Digital Banking Customer Experience eBook UX 98

FICO

JULY 7, 2022

Why FICO Won Best Technology Provider for Data Analytics. The FICO team were delighted to pick up the award for Best Technology Provider for Data Analytics at this black-tie event. This platform approach is the future of how banks and other companies will manage risk, fraud, customers and decisions of every kind.

Analytics 52

Analytics Technology Data Strategy 52

PYMNTS

AUGUST 5, 2019

Perhaps that’s why, in the midst of the seemingly never-ending stream of headlines about data breaches, account takeovers, stolen credit cards and online fraud , the notion of “check fraud” seems something of an outlier for the up-and-coming fraudster looking to make a decent living. The Whole New World of Check Fraud.

Fraud 162

Fraud Payments Mobile Handbook 162

PYMNTS

DECEMBER 30, 2020

But by midsummer, Clark said, the data show that consumers will start entering a far less shutdown world. People are going to get back out there, while keeping their recently acquired digital habits. “I Stopping fraud, Clark joked, is as easy as denying every transaction — no fraudster will ever fool you. Where Work Remains.

Digital Banking 206

Digital Banking Tools Fraud Examples 206