NCR

JULY 28, 2017

This convenience offers many advantages to the consumer, but financial institutions and consumers need to recognize one of the biggest disadvantages of this technological expansion: the increased risk of digital banking fraud. million instances of fraud and two million computer misuse offenses in England and Wales alone. .

Fraud 74

Fraud Digital Banking Survey Security 74

PYMNTS

OCTOBER 14, 2019

Money laundering and similar forms of fraud have become more concerning for FIs as reports of cybercrime circulate globally. Between $800 billion and $2 trillion USD is laundered each year, according to the United Nations Office on Drugs and Crime, and fraudsters undoubtedly hope to raise those amounts. financial regulations work.

Strategy 109

Strategy Fraud Innovation Regulation 109

PYMNTS

SEPTEMBER 23, 2020

Financial crime is a pervasive threat to banks, credit unions, FinTechs and other financial institutions (FIs) the world over. A recent study from PwC found that 47 percent of companies had experienced fraud at least once in the past two years, with a grand total of $42 billion in funds stolen over this period of time. billion in 2019.

Technology 208

Technology Report Fraud Study 208

PYMNTS

OCTOBER 8, 2020

one of the biggest payments processors in the world, one of the top 3 banks in Brazil, one of the big four banks in Australia, the largest national card processor in Europe, and several others),” according to the release. Feedzai has seen the increase in fraud and scams with the pandemic. And meanwhile, 35.7

Report 247

Report Fraud Risk Management America 247

PYMNTS

SEPTEMBER 7, 2020

The Australian Services and Investments Commission (ASIC) has banned John Louis Anthony Bigatton, who was the Australian national representative for crypto platform BitConnect, from engaging in financial services for the next seven years after he was found to be engaging in deceptive practices, a report from Financial Standard finds.

Bitcoin 132

Bitcoin Fraud Payments cryptocurrency 132

PYMNTS

OCTOBER 16, 2019

Money laundering has always troubled financial institutions, but today’s digital banking system creates additional complexities as fraudsters around the world take advantage of financial technologies. Between $800 billion and $2 trillion USD is laundered each year, according to the United Nations Office on Drugs and Crime.

Compliance 123

Compliance Fraud Study Digital Banking 123

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. Banks and credit unions are maturing their internal digital support capabilities. Choosing a new partner is no small feat.

Digital Banking 148

Digital Banking Customer Experience Strategy Exercises 148

PYMNTS

MARCH 2, 2020

The February 2020 The Credit Union Tracker ® notes that many CUs already utilize the Automated Cybersecurity Examination Tool provided by the National Credit Union Administration ( NCUA ). That sounds ominous because it is, and CUs that don’t take identity fraud and cybertheft super seriously face losing more than what hackers steal.

California 130

California Fraud Pennsylvania Community 130

PYMNTS

SEPTEMBER 6, 2019

In fact, PYMNTS’ Digital Identity Lifestyle Capsule found that 100 percent of eCommerce customers who were required to submit digital copies of their physical ID documents when creating accounts said it was a satisfactory authentication process. Digital IDs are growing more popular among world governments as well.

National 179

National Study Digital Banking Trends 179

PYMNTS

DECEMBER 11, 2020

PYMNTS’ December 2020 Digital Identity Tracker® , done in collaboration with Jumio , delves with enthusiasm and deep detail into the burgeoning field of video-based KYC , highlighting a number of compelling use cases from around the world that showcase its effectiveness.

Video 204

Video Security National Digital Banking 204

PYMNTS

OCTOBER 11, 2019

Money laundering has always troubled financial institutions, but today’s digital banking system creates additional complexities as fraudsters around the world take advantage of financial technologies to launder approximately $2 trillion annually. Such profiles ensure FIs comply with current regulations and AML standards.

Strategy 123

Strategy Innovation Fraud Security 123

PYMNTS

MAY 27, 2020

The ATM has emerged as one of CUs’ most important tools in this member engagement effort, in fact, with many investing in digitally-enabled ATM kiosks that provide members with on-demand videoconference consultations and a full range of digital banking services. Deep Dive: Offering An End-To-End Customer Experience Through ATMs.

ATM 243

ATM Innovation Meeting United States 243

PYMNTS

OCTOBER 22, 2020

“All of these government bodies are really starting to double down on their thought process around digital money movement instead of check cashing,” Switt said – partly as a means of reducing fraud , but also to give people quicker access to funds in order to put food on the table. The Cash Culture. Crypto And AI/ML.

Payments 206

Payments Community Mobile Comparison 206

PYMNTS

JUNE 26, 2020

The Bank of China is one of over 12 commercial banks that lent to the German payment through a facility, and the move could present a mortal danger to Wirecard. Visa Launches Advanced Identity Score To Help FIs Fight Application Fraud. Brazil Central Bank Cites Lack Of Competition In Shutting Down WhatsApp Payments.

Apple 231

Apple Payments Meeting Conference 231

PYMNTS

APRIL 30, 2019

Fidelity National bested first quarter estimates on the heels of transaction growth and increased spending by banks as they embraced upgrades to infrastructure amid transitions to digital banking and payments. Management also pointed to synergies and tailwinds behind the pending acquisition of Worldpay.

Conference 134

Conference Innovation Digital Banking Payments 134

PYMNTS

FEBRUARY 28, 2017

HYPR, for example, debuted what it is calling a biometric shopping platform at the National Retail Federation’s BIG Show in New York City in January. The platform is designed to help retailers combat an uptick in online retail fraud, caused largely by ineffective or stolen password credentials.

New York City 100

New York City Fraud Security New York 100

PYMNTS

JULY 30, 2019

Thynk Digital and The Financial Brand recently conducted a survey that found 70 percent of bank and credit union executives think their FI could not survive without physical branches. A majority (61 percent) said bank branches were still necessary but less important than they once were. percent noted anti-fraud initiatives.

Innovation 115

Innovation Fraud Mobile Video 115

PYMNTS

NOVEMBER 13, 2018

The push comes as banks — newly gathered together through the Better Identity Coalition — grapple with the challenges of onboarding new clients in an age where data breaches seem to be an almost daily occurrence and where synthetic ID fraud is ramping. Banking done online has its lures, speed and convenience among them.

Fraud 128

Fraud Security United States Analytics 128

South State Correspondent

OCTOBER 28, 2022

While last year was dominated by crypto, this year, the themes were mainly around fraud and identity (both conferences). Almost every bank and brand we spoke with will increase their investment in these two areas for 2023. This was followed by a focus on banking-as-a-service, embedded finance, open banking, Web 3.0,

Conference 195

Conference Technology Las Vegas Trends 195

American Banker

AUGUST 11, 2016

Banks have gotten better at detecting digital banking fraud, but the process of closing and reopening accounts is still a mess — and that is what could send more customers packing.

Fraud 28

Fraud Online Digital Banking Cyber Security 28

Gonzobanker

DECEMBER 14, 2023

Through a unique reverse merger structure and $400 million P/E injection, PacWest made it through a ring of fire and the two have created a $36 California business banking franchise while helping to calm a bank panic in the spring of this year. Merger of Equals Deal of the Year (Bank) – Burke & Herbert Financial Services Corp.

Fintech 195

Fintech Community Regional Technology 195

PYMNTS

MAY 9, 2017

HYPR, for example, debuted what it is calling a biometric shopping platform at the National Retail Federation’s BIG Show in New York City in January. The platform is designed to help retailers combat an uptick in online retail fraud, caused largely by ineffective or stolen password credentials.

Mobile 137

Mobile Payments New York City Samsung 137

PYMNTS

JUNE 14, 2019

Last year, Citizens Financial Group, which received consistently high marks in the Reputation.com study, launched Citizens Access , a nationwide, direct-to-consumer digital bank. Where once mobile strategies were reserved for big national banks, now community banks and credit unions have also adopted mobile offerings.

Retail 103

Retail Study Online Mobile 103

Gonzobanker

JULY 8, 2022

The operational world of cash, checks, deposit slips, passbooks, and teller terminals used to dominate bank tech budgets. Those were the days of green screen cores and server-based ancillary applications, and digital banking was a Star Trek thing of the future. A national unemployment rate of 3.6% and a shocking 1.3%

Resources 146

Resources Leadership Technology Management 146

PYMNTS

JULY 31, 2017

In fact, the federally backed National Credit Union Administration (NCUA) reported credit union membership grew by 4.3 And speaking of P2P services, several credit unions joined Early Warning System’s Zelle Network, a move that could help both credit unions and banks compete with newer innovations such as Venmo and Facebook Messenger.

Report 114

Report Innovation Regulation National 114

PYMNTS

SEPTEMBER 30, 2020

MENA nations’ original rules involved data privacy, but they were focused on developing the open banking ecosystem and allowing information to move freely. 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.

Regulation 175

Regulation Data Regional Examples 175

PYMNTS

FEBRUARY 14, 2020

China’s central bank gave Mastercard the green light on Feb. 11 to set up a bank card clearing business, providing it with access to a $27 trillion payments market. The People’s Bank of China said it has approved an application by Mastercard’s Chinese joint venture to run a bank card clearing business in the nation.

Retail 141

Retail Cards Millennials Fraud 141

Gonzobanker

JULY 9, 2021

Banks and fintechs are in a heated mashup and seeking niches. SoFi announced an agreement to acquire Golden Pacific Bancorp for ~$22 million, advancing the digital personal finance company’s regulatory pain point to obtain a national bank charter and offer more choices to both consumers and businesses.

Fintech 197

Fintech Lending Community Payments 197

PYMNTS

SEPTEMBER 10, 2018

It’s a costly free ride that has caught many high-profile financial institutions (FIs) — such as the European Central Bank (ECB), ING Group and Danske Bank — in its trap, generating fines and shaking the confidence of regulators that seek stepped-up enforcement. A Collaborative Effort.

Fraud 100

Fraud System Data Technology 100

Gonzobanker

MAY 4, 2020

Here are a few of the recent deals (in no order) that caught my attention: MVB Financial/Paladin: MVB, a mid-size bank with a stated focus on serving fintechs, acquired Paladin, a specialty fraud prevention company with a suite for merchants, credit agencies, fintechs and vendors. SoFi/Galileo: This $1.2

Fintech 109

Fintech FDIC Capital Community Bank 109

Gonzobanker

DECEMBER 19, 2022

In December, the founder and CEO of Crypto Exchange company FTX was arrested in the Bahamas (yah, don’t ask) and charged with fraud and conspiracy. 2022 was the year the fintech industry and venture capital firms figured out that banking is harder than everybody thought. Core System Deal of the Year: Bank. They made good loans.

Community 216

Community Fintech Industry Innovation 216

FICO

NOVEMBER 8, 2022

Strong Fraud Protection Could Draw More Customers - Survey. Fraud protection is now firmly on the radar for consumers and has risen substantially as a deciding factor - it could even be a competitive advantage for banks. In the UK, trade bodies have called for fraud levels to be considered a national security threat.

Fraud 52

Fraud Survey Security eBook 52

American Banker

NOVEMBER 17, 2016

Behavioral biometrics has already stopped several million dollars worth of online banking fraud at National Westminster Bank in London.

Fraud 28

Fraud National Online Cyber Security 28

PYMNTS

APRIL 27, 2017

the nation most targeted for ransomware attacks — tend to respond to this form of cyberattacks. Symantec saw new levels of cybercriminal ambition in 2016 — record identities exposed in data breaches, digital bank heists, DDoS attacks powered by IoT devices and, perhaps most notably, a rise in attacks on government entities and nation-states.

US 124

US National Security United States 124

CB Insights

JULY 25, 2019

Startups are now eyeing opportunities to develop fintech services aimed at helping older individuals improve their financial well-being, from estate planning to fraud prevention, aiming to provide this potentially lucrative — and increasingly tech savvy — demographic with more power over their finances. Source: Deloitte.

Millennials 73

Millennials Fintech Tools Fraud 73

PYMNTS

APRIL 28, 2017

the nation most targeted for ransomware attacks — tend to respond to this form of cyberattacks. Symantec saw new levels of cybercriminal ambition in 2016 — record identities exposed in data breaches, digital bank heists, DDoS attacks powered by IoT devices and, perhaps most notably, a rise in attacks on government entities and nation-states.

Security 157

Security Software National Report 157

American Banker

NOVEMBER 4, 2020

Some customer fraud and a lack of cooperation from partners Huntington Bank and Dwolla prevented Beam Financial from returning funds to savers, says Aaron Du, the fintech's CEO. He says he’s trying to make things right, but Huntington and Dwolla are taking the dispute to court.

Fraud 48

Fraud Fintech Banking 2020 Digital Banking 48