Digital Banking Fraud Millennials Online 
PYMNTS
NOVEMBER 30, 2020
There are other benefits that the function could provide, however, including more robust fraud protection. How can banks better communicate the benefits of location sharing — and its vast potential to combat fraud — to customers who are on the fence? The report surveyed 2,141 U.S.
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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PYMNTS
JULY 25, 2019
Banks need to innovate faster and further when it comes to the technology they use on their online platforms, as to stay one step ahead of bad actors with access to the same technology. Banks need to make sure they’re using tech in ways that keep the fraudsters out, but don’t send customers looking for another service.
PYMNTS
AUGUST 21, 2020
Deposits had already been trending away from community banks and credit unions anyway, but COVID-19 has accelerated that shift. In fact, the majority of 2020’s new accounts have gone to megabanks and digital banks, not to community institutions. Lesher said a few key features comprise a modern, digital-first offering.
CB Insights
JULY 25, 2019
Fintech is often associated with digital tools targeted at tech-savvy millennials. Fintech cos are trying to prevent fraud. Estate planning gets a digital makeover. Online wealth management tools are also becoming more common, such as True Link Financial ’s investment and trust administration tools.
PYMNTS
JUNE 21, 2017
Whether it’s in-app tools that offer advice on monthly spending, new services to help parents teach their kids about money management or a publicity campaign aimed at raising public awareness of the threats posed by cyber fraud, the financial sector is making consumer education a priority. In the U.K., consumers billions of pounds each year.
PYMNTS
FEBRUARY 14, 2020
None of these things are necessarily deal-breakers on a digital journey, DataVisor’s CEO and Co-founder Yinglian Xie told PYMNTS, but they are certainly an annoyance. What is necessary, Xie said, is a different, more holistic paradigm for combating fraud — with a wide aim of not adding more authentication steps.
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