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Revolutionizing the Way We Pay: The Top Payment Industry Trends You Need to Know in 2023

Perficient

Security/Biometric Payments With the widespread popularity of digital payments continuing to grow, security remains at the forefront of concern for payment companies and their vendor partners. One example of this effort, which we expect to see more of in 2023, is biometric payments.

Industry 471
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Social Media Can Make Bank Customers Susceptible To Scams

PYMNTS

Unintentionally making themselves targets for scammers, customers may become vulnerable to fraud by complaining to banks on social media when systems crash. After problems with an information technology migration locked thousands of clients out of accounts at the U.K.’s

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Cybersecurity Awareness Month: How financial institutions can stay safe and secure online

Abrigo

It’s the time of the year when we celebrate Cybersecurity Awareness Month, a global initiative to raise awareness and educate people about the importance of staying safe and secure online. The campaign has also evolved to reflect the changing nature of cyber threats and the emerging technologies that enable them. million in 2020.

Online 221
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Are Humans the Weak Link in Bank Security, or Is It Outdated Technology?

Bank Innovation

The most vulnerable aspect of a bank's security is the people -- employees and customers -- or so the story goes. But four security experts came together to discuss the issue and opinions differed. For example, can you still call humans the weak link when banks fail to use the best technology?

Security 218
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Deep Dive: How Banks Use Digital Technologies To Outlast The Coronavirus

PYMNTS

Some have added support for in-branch digital technologies such as video banking screens and upgraded ATMs to minimize in-person contact while making sure customers’ needs are met, for example. Some are closing physical branches or changing the customer channels they leave open, for example. Digital Technologies Under COVID-19.

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Deep Dive: Using Phone Verification And Text Messaging For Secure Checkouts

PYMNTS

Social Security Administration, for example, requires recipients using its website to provide unique eight-digit codes sent via text to their smartphones in addition to their usernames and passwords when they sign up or log in. . It also outlines some of the frictions entities face when doing so. .

Security 174
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AI fraud challenges: How to guard against losses

Abrigo

Here are several suggestions for tightening security. Takeaway 2 Improving security questions is a good step to take to avoid text-to-speech AI fraud schemes. An example of a rising AI fraud scheme is using voice-to-text technology, such as Microsoft’s new Vall-E Text-to-Speech System.

Fraud 150