Fraud risk could run to billions in PPP loans
Bank Innovation
APRIL 14, 2020
Fraud is a common trend with government relief programs. In fact, fraud estimates for previous stimulus programs indicate that the Small Business […].
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How Scotiabank Manages Fraud Protection For A Data-Driven Future
PYMNTS
NOVEMBER 20, 2019
This rampant availability of users’ data makes it easier for bad actors to wreak havoc and commit fraud. She recently spoke to PYMNTS about how Scotiabank has revamped its fraud strategy in recent years. “I Scotiabank’s Three-Pronged Innovation Strategy. It is estimated that more than 4.1
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FICO fights fraud through selfie-based authentication tools
Bank Innovation
NOVEMBER 13, 2019
The identity verification process for financial institutions just got easier thanks to two new digital identity tools FICO rolled out this month. The credit bureau rolled out FICO Identity Proofing, which lets organizations verify customers’ identities through selfies with their government-issued IDs.
COVID-related fraud spike pushes banks, fintechs to innovate
BankInovation
JULY 10, 2020
The COVID-19 pandemic has accelerated the move toward digital banking platforms, but this has come with an increased risk for fraud. The percentage of risky worldwide transactions in the financial services industry increased by 11% since early March, according to a recent TransUnion study.
Weekly Wrap: Wells Fargo fights B2B fraud and Green Dot has a busy week
BankInovation
MAY 29, 2020
Wells Fargo, meanwhile, is developing educational resources for business clients experiencing a wave of fraud […]. The company, which has long made money from prepaid reloadable cards, is finding new ways to connect with consumers through its platform business.
Startups to take the stage at Bank Innovation Ignite
Bank Innovation
JANUARY 23, 2020
Bank Innovation has hand-selected 10 companies to participate in its DEMOvation Challenge at Bank Innovation Ignite, which runs from March 2-3 in Seattle. The companies focus on a variety of use cases including customer acquisition, loan underwriting technology, conversational AI, fraud prevention, and other digital capabilities.
New Digital Experiences Keep Credit Unions Relevant – And Then Some
PYMNTS
DECEMBER 31, 2020
This digital suite is connected to our best-in-class fraud detection systems, which utilize aggregated data from nearly 33 million members to better identify and stop fraudulent activity while enabling members to transact seamlessly.”.
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