PYMNTS

JANUARY 24, 2020

Better security comes from better communication, and the fraud teams at businesses must speak with all parties involved in a transaction — card issuers, merchants and the payment processors that connect them — that can benefit from sharing insights about consumers. Security’s New Face.

Fraud 153

Fraud Security Online Analysis 153

Perficient

NOVEMBER 19, 2020

When customers can apply for the Apple Card, for example , and receive approval and begin using it in minutes, patience with financial institutions that take longer will wear thin. Many banks continue to use knowledge-based authentication and out-of-wallet questions, which have challenges when customers have recently moved.

social media 309

social media Customer Experience Knowledge Base Mobile 309

Gonzobanker

JANUARY 4, 2024

Do any of these examples sound familiar? Personalized offers are presented in digital banking but are invisible to the contact center agent who has dramatically different product knowledge than their counterpart in the branch. Designing goals and incentives that match engagement objectives.

Customer Experience 120

Customer Experience Community Knowledge Base Tools 120

PYMNTS

AUGUST 21, 2020

Jim Cunha, senior vice president, secure payments and fintech at the Federal Reserve Bank of Boston , told Karen Webster the joint efforts between the Fed and MIT are focused on exploring the infrastructure that would underpin a CBDC — and, at the same time, will probe various use cases. .”

Boston 269

Boston Massachusetts Knowledge Base Policies 269

Abrigo

MAY 8, 2024

A common example of a generative AI-driven tool that many in the financial services industry are familiar with is ChatGPT, which can produce coherent and diverse texts on various topics. An example of a use case for predictive AI is Signature Bank of Georgia ’s addition of AI-driven check fraud detection software that finds fraud faster.

Examples 221

Examples Fraud Resources Risk Management 221

PYMNTS

JANUARY 31, 2020

Consumers appear to be moving their debit payments away from brick-and-mortar stores toward eCommerce channels, meaning FIs and card issuers must work to support them while minimizing online security risks. Holistic Security. FIs have long been aware that relying on knowledge-based authentication (KBA) goes only so far.

Fraud 148

Fraud ATM Cards Security 148

PYMNTS

APRIL 4, 2019

The Citi study referenced above, for example, found 87 percent of Americans would still trust traditional banks more than non-bank financial institutions. Banks need to expose more of their security aspects to consumers so they can seem them in action. The Unique Relationship. Bringing the Bank Back to the Center of Commercial Life.

Mobile 169

Mobile Study Security social media 169

PYMNTS

DECEMBER 6, 2018

Such a scenario stands as a terrifying example of not only the sophistication of criminals, but also the threat of fraud in a real-time payments environment. Ron Plesco, principal of Cyber Security, and Bob Ruark, principal of Banking and Financial Services Strategy and KPMG’s FinTech leader in the U.S. The antidote? Holistic Defense.

Fraud 133

Fraud Payments Security Cyber Security 133

PYMNTS

FEBRUARY 12, 2019

The ideal — the goal of ongoing work across much of the digital payments and commerce industries — is to join two related, but distinct, tasks in the hopes of bringing more security and convenience to financial and retail transactions. The Hot Thing. The key to all that? According to Pointner, that would be facial recognition technology.

St. Louis 144

St. Louis Mississippi User Experience Knowledge Base 144

PYMNTS

OCTOBER 7, 2019

Identity security is key when it comes to protecting financial information, and it can be devastating if sensitive documents from credit checks fall into the wrong hands, making authentication critical. As part of the sign-up [process], the user provides us with [their] full name, address and Social Security number.

Tools 101

Tools Data Security Fraud 101

PYMNTS

DECEMBER 26, 2016

As a result, authentication and identity verification practices that rely on data only, such as passwords and knowledge-based authentication questions, have been scrutinized and are largely seen as no longer sufficient. billion end users making domestic as well as international P2P payments.

Mobile 109

Mobile Payments eBook User Experience 109

PYMNTS

MARCH 17, 2017

But what’s left out of this picture, said David Dewey, director of research at Pindrop Security , is the element of voice. He gave a telling example: he and a colleague once conducted an experiment where Dewey dialed the call center listed on the back of the other’s credit card. They let me right in,” Dewey said.

Fraud 107

Fraud Cards Houston Retail 107

NCR

DECEMBER 15, 2017

By allowing consumers to verify their identity with a fingerprint scan or a spoken word, biometrics could eliminate the need for passwords and unique user IDs – removing one of the weakest links in the security chain. These might involve the use of one-time passcodes or knowledge-based authentication.

Fraud 96

Fraud Security Knowledge Base Analysis 96

PYMNTS

SEPTEMBER 6, 2018

There also is what is being billed as a “plugin knowledge base” that offers implementation and reference guides, along with videos. By way of example, Caldera noted that ICOs are banned in China, where in the U.S., they can take place with tokens classified as securities.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

NCR

DECEMBER 20, 2017

User authentication has been a chief security concern for financial institutions (FIs) for many years, and is arguably more pressing today than it has ever been before. There is a strong argument that the traditional username and password protections used in online banking, for example, are no longer sufficient to prevent fraudulent access.

Security 77

Security Knowledge Base blockchain Analysis 77

PYMNTS

MAY 15, 2018

The Pros and Cons of Standard Security Choices. For instance, knowledge-based authentication is well-understood by users – but the answers to security questions can be socially engineered without too much trouble just by visiting victims’ social profiles. For example, say that Colombia has legalized gambling.

Fraud 129

Fraud Training Security Compliance 129

NCR

APRIL 23, 2018

This has a crucial role to play in ensuring that PSD2 standards are secure in an environment where banking services are being opened up to a significant number of new players. Meanwhile, inherent factors – usually biometrics – may be more secure in a perfect world, but is the accuracy of today’s technology good enough?

Fraud 72

Fraud Knowledge Base Guidelines Security 72

PYMNTS

MARCH 14, 2017

specifically, identity verification has long relied on credit-based data — the existence of credit history along with knowledge-based authentication (KBA) questions — in digital channels or by showing a physical, government-issued ID in person. In the U.S.

Meeting 111

Meeting Fraud Knowledge Base User Experience 111

PYMNTS

SEPTEMBER 19, 2019

billion customer records — occurred in the first six months of 2019, for example. 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 billion stolen credentials.

Fraud 144

Fraud Data Mobile Tools 144

NCR

APRIL 15, 2016

Institutions that have managed to survive need to improve security efforts to avoid becoming a statistic – because fraudsters don’t discriminate, and losses inflicted by these banking bandits can be crippling. Biometrics authentication is a critical component of mobile banking security.

Security 40

Security Knowledge Base FDIC Mobile 40

FICO

JULY 15, 2020

By building a 360 º view around their customers, companies are able to develop a very detailed knowledge base around each customer that reveals all sort of unprecedented insights about their future behaviors and needs. No need to tell them it came from knowledge base full of algorithms. It’s the thought that counts.

How To 52

How To Study Analytics Knowledge Base 52

PYMNTS

AUGUST 7, 2019

Data breaches’ stakes are sky high for corporations, meaning ID security is even more important to the United States federal government. Any lapse in governmental security could have much farther-reaching effects. Providing two of the three is typically sufficient to securely verify identities. .

Knowledge Base 118

Knowledge Base United States Security National 118

PYMNTS

SEPTEMBER 4, 2019

Mobile app users may have different authentication preferences than those who call the contact center, for example, which could lead to frictions if companies are not prepared. That’s why banks, such as TD Bank , are approaching call center security needs with tools like MFA, said Lindsay Sacknoff, head of U.S. About the Tracker.

Security 152

Security social media Tools Knowledge Base 152

Fintech Labs Insights

SEPTEMBER 29, 2016

Here’s what CEO Stuut had to say about his company, its current initiatives, and what we can expect from the Palo Alto-based security specialist in the months and years to come. Finovate: Where will ID scanning and technologies like FaceMatch make the biggest impact in terms of replacing passwords and security codes?

Security 12

Security Mobile Industry Knowledge Base 12

William Mills

MAY 11, 2016

Demo: Sezzle app with knowledge based authentication to link bank accounts. It’s all done through the smartphone, with bank-level security. Chip card reader for when customers are shopping online to improve security. Customers can store all of their online profiles in one secure location to improve user experience.

Video 40

Video Mobile social media Analytics 40

PYMNTS

MAY 31, 2018

If that data has already been exposed, then taking it back from organizations doesn’t do much good – there needs to be a way to tell, in the moment of the transaction, that a customer is legitimate rather than a criminal who has gained access to their static credentials, such as birthdate, address and Social Security number. Secure Signaling.

ATM 109

ATM Data Security Regulation 109

PYMNTS

NOVEMBER 15, 2017

With no face to match to the name and no data beyond the traditional Social Security numbers, dates of birth and passwords, is it any wonder that account security is a tough battle to fight — especially against foes who have leveraged data breaches into literal gold mines? Those early adopters of technology died pretty quickly.

social media 100

social media Fraud Knowledge Base Data 100

PYMNTS

APRIL 11, 2017

The reason Yahoo was targeted, said Geiman, was because bad guys wanted to get the answer to knowledge-based questions. Thus, security of data becomes top of mind within a firm. “If There is also suspicion of just how secure some data might be, such as someone’s mother’s maiden name. It is a scary thing to you.”.

Data 101

Data social media Fraud Online 101

CB Insights

MAY 10, 2018

From one perspective, the position of management consulting as an industry has never seemed more secure. For example, Bain & Company highlights a case study in which it worked with a major beverage manufacturer interested in taking more advantage of digital channels. According to estimates, McKinsey makes about $8.8B

Strategy 78

Strategy Management Analytics Tools 78

PYMNTS

SEPTEMBER 19, 2016

Finally, the mobile app ecosystem in China is a lot messier than in developed countries because of massive security and quality control issues inside of app stores. Betting the bots farm on Messenger, for example, means betting against a few well-entrenched ecosystems that aren’t likely to take a Facebook-branded bot-takeover lightly.

Payments 100

Payments Mobile Apple Google 100