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

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

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

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

Gonzobanker

MARCH 28, 2024

Fiserv has worked to consolidate multiple digital platforms, and after disappointments from previous aspirations of its Corillian, Retail Online Banking and Architect platforms, the company is now working to build credibility with its “Experience Digital” strategy. Choosing a new partner is no small feat.

Digital Banking 134

Digital Banking Customer Experience Strategy Exercises 134

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

SEPTEMBER 30, 2020

Consumers and businesses have been moving online in recent years, and regulators from the European Union to the Middle East and North Africa (MENA) region have worked to keep up with this migration. Consumers’ changing views are prompting MENA financial authorities to reexamine how their present regulations handle online privacy.

Regulation 175

Regulation Data Regional Examples 175

PYMNTS

JUNE 14, 2019

However, in the 2019 Retail Banking Report, a study by Reputation.com that analyzed online data relating to retail banking locations for 23 major U.S. banks, the banking industry was found to be lacking. The low score for retail banks is due to factors like star ratings, which equaled 2.8

Retail 103

Retail Study Online Mobile 103

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

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

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

MAY 9, 2017

What’s more, 90 percent said they think they would use biometrics for online payments in the future because they see it as a more secure method. 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.

Mobile 137

Mobile Payments New York City Samsung 137

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

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

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 139

Resources Leadership Technology Management 139

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 194

Fintech Community Regional Technology 194

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

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

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

Fintech Labs Insights

APRIL 12, 2024

Long before fintech was a thing (1995), I launched the first, and by most measures the biggest, newsletter during the first two decades of online/digital banking. It was called Online Banking Report and was read by a sizable portion of major industry players. Note: These are the rankings from 10 years ago.

Innovation 15

Innovation Fintech Online Mobile 15

PYMNTS

SEPTEMBER 10, 2018

In the not so distant past, Xie noted, getting a bank account was only possible if someone showed up in person at a bank branch. Today, almost anyone can gain access to an account that allows them to transact online. Eventually, FIs notice and react, then add something new to their rules engine to stop those kinds of attacks.

Fraud 100

Fraud System Data Technology 100

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

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

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

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

NCR

NOVEMBER 8, 2016

Increasingly, customers are asking financial institutions for new and improved levels of digital connectivity. With that comes the need to protect the data associated with all types of banking transactions. In many cases, the opportunity to stop fraud begins with the customer.

Cyber Security 63

Cyber Security Security Risk Management Training 63

PYMNTS

NOVEMBER 8, 2017

These contactless transactions decrease fraud, which is a critical service with ATM skimmer fraud up 500 percent since 2014. Since not every consumer has a smartphone with tap-to-pay capabilities, protections must also be in place for those still using a traditional bank card.

ATM 126

ATM Strategy Mobile Millennials 126

Abrigo

JUNE 30, 2020

The coronavirus and work-from-home mandates have brought new challenges to an already stressful job held by banking professionals – whether they are BSA/AML professionals, lenders handling Paycheck Protection Program loans, or asset/liability managers.

Meeting 195

Meeting Training Conference Software 195

Gonzobanker

DECEMBER 20, 2019

The Ecosystem Award – Goes to Partners Credit Union for its collaborative member experience work with digital banking vendor Kony (now part of Temenos). The digital banking provider helped implement digital competitiveness against big banks that Partners sought. It’s game on.

Idaho 148

Idaho Conference Data Marketing 148

PYMNTS

NOVEMBER 30, 2020

Plus, Emirates National Bank Dubai (Emirates NBD) has rolled out its businessONLINE omnichannel platform for small firms. Emirates NBD Debuts Omnichannel Corporate Banking Program. CSI, Featurespace Team up to Fight Money Laundering. Computer Services, Inc.

National 148

National cryptocurrency Digital Banking Fraud 148

PYMNTS

JANUARY 2, 2017

The spring brought coverage of mobile advertising and payments on the go at food trucks as small, smart device-powered businesses, and in the fall, we looked at the biggest trends in digital security at the annual Money20/20 Conference in Las Vegas. DIGITAL BANKING TRACKER.

Retail 123

Retail Millennials blockchain Mobile 123

William Mills

SEPTEMBER 9, 2016

I like the idea but I am a bit concerned about the potential for fraud from both companies and investors. Addresses compliance, fraud experience and customer experience analytics. Customers want self-service capabilities but regulation and risk is top of mind that get in the way of digital interactions. I need to learn more.

social media 40

social media ATM Mobile Customer Experience 40

William Mills

MAY 9, 2018

Fiserv is highly regarded for its leadership and innovation, and award-winning solutions for mobile and online banking, payments, risk management, data analytics and core account processing. Info: Covered Security acts as a personal security assistant looking out for your online life. Presenters: Chris Zannetos. Brian Milas.

Security 40

Security Samsung Strategy San Jose 40

FICO

NOVEMBER 15, 2022

Digital banking is used by an estimated 93% of the UK adult population and is forecast to increase further within the next two years. By 2024, 435 million Europeans are predicted to be using online and mobile banking – up from 398 million today. Matt joined FICO from Barclays where he was global director of Fraud.

Analytics 52

Analytics Fraud Case Study National 52

PYMNTS

JUNE 21, 2019

Studies have shown that 70 percent of applicants want to open their accounts digitally. However, less than half of traditional FIs are able to let those would-be applicants complete the entire process online. Though challenger banks may have a technological advantage over FIs, they have their own challenges to navigate, too.

Customer Experience 108

Customer Experience Data Mobile Risk Management 108

Gonzobanker

DECEMBER 19, 2016

Mergerama Region of the Year – The Midwest: Huntington-First Merit, Chemical-Talmer, Old National-Anchor … the list goes on. Acquisition of the Year – Guaranty Bank and Trust Company in Colorado for its acquisition of Home State Bank. Demand in Need of a Supply – Online/mobile commercial loan origination.

Utah 60

Utah System Community Marketing 60

Gonzobanker

DECEMBER 19, 2016

Mergerama Region of the Year – The Midwest: Huntington-First Merit, Chemical-Talmer, Old National-Anchor … the list goes on. Acquisition of the Year – Guaranty Bank and Trust Company in Colorado for its acquisition of Home State Bank. Demand in Need of a Supply – Online/mobile commercial loan origination.

Utah 60

Utah System Community Marketing 60