PYMNTS

FEBRUARY 27, 2020

Small businesses continue to embrace digital banking. At the same time, digital banks are looking to capitalize on their growing small and medium-sized business (SMB) customer base, with open banking and bank-FinTech collaborations an important part of that strategy. Enfuce Tackles Fraud In Open Banking.

Fintech 192

Fintech Fraud Data Lending 192

PYMNTS

FEBRUARY 26, 2020

Back then, FinTechs asked for forgiveness instead of permission, rushing headlong into markets, disrupting them and operating in newly invented spheres of finance that regulators barely understood. The debate around data privacy is getting a new boost as discussions of open banking get real. Now, they’re laying down the law.

Regulation 130

Regulation Case Study Fraud Study 130

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

MARCH 25, 2020

Digital fraud continues to flourish, with recent surveys finding that security breaches have increased 67 percent since 2014 and 11 percent since 2018. Organizations and security developers are investing billions of dollars in fighting these fraud attempts. Developments From Around the World of Digital Fraud.

Fraud 148

Fraud Security Resources Survey 148

PYMNTS

OCTOBER 10, 2019

Consumers have noticed the rising levels of fraud in digital banking, and they are not pleased. In fact, one recent study found that 71.2 Financial institutions (FIs) need to keep watch for newer schemes as they seek to prevent different forms of fraud, such as money laundering, on their online platforms.

Fraud 126

Fraud Digital Banking Strategy Security 126

PYMNTS

DECEMBER 17, 2019

Headlines are filled with reports of service outages and data breaches , and both banks and consumers are contending with rising fraud concerns as digital banking takes off. Fraud threatens everyone, yet customers rely on their banks for protection. The Technology Gap That Fosters Fraudsters.

Technology 142

Technology Fraud Data Security 142

PYMNTS

MARCH 3, 2020

Mobile and online banking’s prevalence has reduced physical branches’ importance, but these brick-and-mortar establishments are still vital to customers’ financial lives. Even millennials , who heavily lean on remote banking, still visit physical bank locations for more complex functions, such as loan applications. million.

ATM 151

ATM Fraud Study Regional 151

PYMNTS

DECEMBER 14, 2020

In-your-face unpredictability lit a fire under lukewarm AI plans as COVID-19 was decimating financial markets worldwide. On the fraud front, for example, banks and FIs learned that “Using AI for real-time fraud detection is akin to having a fingerprint scanner that takes customers’ biometric data every second,” the Playbook states. “An

Fraud 218

Fraud System Digital Banking Data 218

PYMNTS

DECEMBER 31, 2020

Digging into the December Tracker, more is revealed about the plans of competing FIs as they vie for a banking population that’s more willing than ever to switch to get what they want. They must confront one major obstacle in doing so, however: big banks. We all know what’s transpired since.

Survey 235

Survey Arizona Innovation Innovation Strategies 235

PYMNTS

DECEMBER 10, 2020

Advocates of the strategy say it provides banks with an error-free way to onboard customers while reducing fraud and preventing application abandonment. . Speedy, secure onboarding is vital at a time when consumers have to use digital banking to prevent health risks. One study revealed that 73 percent of U.S.

Video 201

Video Digital Banking User Experience Tools 201

PYMNTS

SEPTEMBER 22, 2020

Consumers moved to digital banking in droves during the early months of the COVID-19 pandemic — it appears they are not moving back. Consumers pivoting to online banking are also more concerned over the privacy and security of their data, especially as fraud volumes creep up —and financial regulators are taking notice.

Compliance 191

Compliance Digital Banking Security Online 191

PYMNTS

JUNE 17, 2020

Both of these channels are thus perfect targets for fraud, with cybercriminals posing as restaurants on social media and attempting to scam customers of their personal data, and fake reviews driving customers away from restaurants.”. Successful attacks are often the result of inadequate digital defenses meeting these methods.

Tools 141

Tools social media Fraud Mobile 141

FICO

FEBRUARY 12, 2023

Home Blog FICO Top 5 Customer Development Posts of 2022: Digital Banking and Pricing Opti The most popular posts in our Customer Development category dealt with digital banking, optimizing credit line increases, loan pricing and machine learning for credit risk models.

Digital Banking 52

Digital Banking eBook Analytics Customer Experience 52

PYMNTS

NOVEMBER 19, 2020

Evidence suggests that one of the most effective ways they can continue to engage their member bases is to roll out personalized services, such as financial management and budgeting tools, card management options and targeted marketing initiatives. For more on these stories and other CU headlines, read the Tracker’s News and Trends.

Alabama 228

Alabama Meeting Fraud Trends 228

Independent Banker

DECEMBER 31, 2022

“What’s interesting to me is the macro environment,” says Marilena Lakoumentas, senior vice president and chief digital officer at $3.3 billion-asset Bank of Tampa in Tampa, Fla. We’ve got capital market resets that are potentially happening, technology advancements and continued heightened digital expectations.

Trends 140

Trends Payments Community Bank Texas 140

PYMNTS

SEPTEMBER 28, 2020

The aim of doing so is to create a more robust framework for digital banking. This is also the aim behind several regulatory changes taking place in other MENA markets, notably Egypt. The country’s Data Protection Law was announced in 2019 and officially came into effect in July 2020.

Online 151

Online Report Payments Regulation 151

PYMNTS

SEPTEMBER 30, 2020

It will also examine how merchants can better understand these rules and compete within an ecosystem where online privacy and digital banking perceptions are shifting. Cybersecurity and data privacy have always been critical facets of open banking regulations as fraud tends to increase alongside growing online transaction volumes.

Regulation 175

Regulation Data Regional Examples 175

PYMNTS

JUNE 23, 2016

Two different studies on the same topic — mobile banking and mobile payments. JPMC’s study consisted of 1,008 respondents from a survey of 1,500 adults across the U.S. 87 percent for banking alerts and notifications — with fraud/unusual activity accounting for 54 percent. Two very different results.

Mobile 101

Mobile Payments Survey America 101

Gonzobanker

JUNE 25, 2021

So hats off to executives at community-based institutions who, according to Cornerstone Advisors’ What’s Going On In Banking 2021 study, said improving customer experience and service delivery was their No. Maintain a sharp focus on compliance and safeguards against fraud, but find the fast path to put the customer first.

Customer Experience 95

Customer Experience Fraud Policies Training 95

PYMNTS

NOVEMBER 25, 2019

A recent Financial Crimes Enforcement Network (FinCEN) study found that 162 CUs across the U.S. A California Credit Union Keeps its Marketing Efforts Trusted and SAFE. Another CU issue currently awaiting federal regulation is legalized marijuana. law, leaving many CUs at risk of federal investigation or prosecution.

Alaska 154

Alaska Hawaii California Analytics 154

PYMNTS

NOVEMBER 24, 2020

24) that the collaboration with Cellulant will help “drive consumer confidence in digital banking and boost the adoption of digital payments on the continent.”. Banking app security was especially problematic, according to the statement. Banking app security was especially problematic, according to the statement.

Digital Banking 145

Digital Banking Security User Experience Fraud 145

PYMNTS

JANUARY 17, 2020

Visa CEO Al Kelly said on a conference call with investors following the announcement that “Plaid opens up new market opportunities by significantly expanding Visa’s network capabilities.”. Goldman Sachs Group last week debuted its long-awaited app that will integrate with the financial giant’s digital bank Marcus.

Fintech 100

Fintech New York City New York Mobile 100

CB Insights

JULY 25, 2019

Fintech is often associated with digital tools targeted at tech-savvy millennials. But there is a growing market of fintech companies serving the unique financial needs of Baby Boomers and older retirees — and for good reason. Baby Boomers (those born between 1946 and 1964) represent a massive market opportunity.

Millennials 73

Millennials Fintech Tools Fraud 73

Cisco

APRIL 7, 2019

It’s clear retail banks need to adapt to emerging trends to stay relevant in today’s market. What isn’t always so clear, however, is what trends matter most and where banks should focus their attention to stay head of the curve. We’ve identified the top 4 trends that banks can’t ignore in 2019. #1. Cloud strategy counts.

Trends 64

Trends Cyber Security Big Data Analytics 64

PYMNTS

AUGUST 29, 2018

There’s the 100 million or so verified cybercrime threats floating around the digital sphere, or the 86 percent of firms worldwide reporting at least one cyberattack in the last 12 months, or the $600 billion businesses that lose annually to cybercriminals, or the 1.4

Software 102

Software Security Data Conference 102

Cisco

APRIL 7, 2019

It’s clear retail banks need to adapt to emerging trends to stay relevant in today’s market. What isn’t always so clear, however, is what trends matter most and where banks should focus their attention to stay head of the curve. We’ve identified the top 4 trends that banks can’t ignore in 2019. #1. Cloud strategy counts.

Trends 48

Trends Cyber Security Big Data Analytics 48

FICO

MAY 8, 2020

Those organizations that offer fast, seamless experiences and secure on-boarding might hope to win market share – but even if financial institutions are prepared to make the switch to digital account opening are their customers ready to get onboard? Not Meeting Digital Banking Needs - Could Lead to Loss of New Business.

Customer Experience 52

Customer Experience Digital Banking Study Fraud 52

Cisco

MAY 29, 2019

In retail banking, it’s clear customer experience matters, and the stakes have never been higher. Study after study confirms the importance of providing personalized, integrated experiences for satisfaction and retention of financial services customers.

Customer Experience 72

Customer Experience Retail San Diego Study 72

Independent Banker

OCTOBER 29, 2014

Given the still nascent state of consumer adoption of mobile payments technology, time and opportunities for growth and innovation in the mobile arena at the community bank level still exist, banking technology experts say. See sidebar “Is Mobile Fully Catching On?”.). Ever stand behind anyone trying to use mobile pay?

Mobile 105

Mobile Community Bank Community Technology 105

Tech and Finance

JUNE 14, 2018

I publish occasionally at the Articulate Communications blog on issues of financial technology, banking and associated public relations and marketing topics. In the past I have written about design thinking, how to avoid bank PR-speak and whether banking and innovation belong in the same sentence. June 12 Temenos.

Survey 28

Survey Millennials Fraud Mobile 28

Cisco

MAY 29, 2019

In retail banking, it’s clear customer experience matters, and the stakes have never been higher. Study after study confirms the importance of providing personalized, integrated experiences for satisfaction and retention of financial services customers.

Customer Experience 48

Customer Experience Retail San Diego Study 48

FICO

AUGUST 26, 2021

It’s a question FICO’s fraud head honcho, TJ Horan, pondered back in 2016 , when the nascent real-time person-to-person (P2P) payments service Zelle was relaunched by a small consortium of banks (see below). Still, the US market lags in real-time payments size and adoption. How to Fight Real-Time Payments Fraud.

Fraud 52

Fraud How To Payments US 52

Fintech Labs Insights

DECEMBER 2, 2015

The virtual banking solution provider announced today that it will acquire fellow Finvoate alum Social Money for $10.6 Matt Flake, president and CEO of Q2, said the “strategic” acquisition will help its customers “expand their reach, grow market share, and engage account holders.”

Iowa 12

Iowa Austin Millennials Community Bank 12

South State Correspondent

APRIL 24, 2023

So, like any new bank marketer, it composed a fairly interesting email (below) using the subject line “Secure Your Healthcare Future: Boost Your Health Savings Account Contribution.” The application iterated at a speed that few bank marketing and deposit teams could ever compete with.

social media 195

social media Data Marketing Technology 195

FICO

DECEMBER 7, 2020

With the FICO Platform, FICO has re-architected our industry-leading FICO® Falcon® Fraud Manager and the FICO® Siron® Anti-Financial Crime compliance suite, converging the functionality of both of these market-leading solutions under a completely new code line to run as a single, cloud-based software platform.

Fraud 52

Fraud Analytics Compliance Software 52

PYMNTS

MARCH 2, 2020

Employees interacting with customers off-site or at branch locations can also use a mobile banking demonstration to educate customers, Süzer said. Digital-first systems have numerous benefits, such as targeted product recommendations, decreased transaction times and increased likelihood that customers will use additional services.

Tools 169

Tools Alabama ATM Digital Banking 169

PYMNTS

NOVEMBER 9, 2020

In banking, collaboration — between the traditional players like banks and the tech savvy FinTechs bringing a slew of new apps to market — is key. Increasingly, open banking will underpin that collaboration. As noted in a PYMNTS Deep Dive into the state of open banking — and with an eye on the U.S. — In the U.S.,

Fintech 285

Fintech Data Regulation Innovation 285