The Paypers

DECEMBER 11, 2018

(The Paypers) ACI Worldwide has teamed up with BioCatch , a behavioural biometrics provider, to protect customers from online and mobile banking fraud such as account takeover.

Account Takeovers 28

Account Takeovers Online and Mobile Banking Mobile Banking Accounts 28

PYMNTS

SEPTEMBER 15, 2020

Emerging markets have their own challenges when it comes to banking, where big, traditional financial institutions (FIs) are anything but efficient. Consider the fact that in Mexico it can take four to six months to open a business account — and as much as a year to get access to a debit card. Widening Debit’s Acceptance.

Debit Card 103

Debit Card FinTech Online and Mobile Banking Account Takeovers 103

PYMNTS

AUGUST 21, 2020

Digital banking is reaching unprecedented levels of popularity amid the pandemic, with 89 percent of American bank customers using mobile banking apps to manage their savings and checking accounts. Developments From Around The World Of Digital-First Banking. billion by 2024. billion by 2024.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

The Fintech Times

DECEMBER 21, 2023

. “By enabling instant and secure money transfers between banks and individuals, FedNow aims to modernise and enable a more efficient US payment infrastructure. In 2024 I expect to see a surge in real-time transfers as more customers demand a seamless banking experience.”

Cross-Border Payments 115

Cross-Border Payments Cross-Border Online and Mobile Banking Payments 115

PYMNTS

SEPTEMBER 29, 2016

One of the unintended consequences in the rise of eCommerce is a related rise in cyberfraud attacks on online shoppers. Since its founding, Shape Security’s clients — which count among them two of the world’s top airlines, both the world’s largest banking and hotel chains, one of the top 10 retailers in the world and “one of the largest U.S.

Credential 69

Credential Online and Mobile Banking Account Takeovers Automation 69

FICO

NOVEMBER 24, 2020

UK Finance reports over £27 million was lost to fraud at online marketplaces and auction websites in the first half of 2020. Payment card fraud, identity theft , account takeover and digital payment fraud have all increased significantly since March 2020. In this instance, banks will not always foot the bill for damages. .

Identity Theft 98

Identity Theft Scams Online and Mobile Banking Account Takeovers 98

PYMNTS

JULY 21, 2020

In a deal expected to create the world’s largest online classifieds company, eBay Inc. has agreed to sell its ad division to Adevinta ASA, the Norwegian online marketplace, for $9.2 Ant Group, the online payments division arm of Alibaba Group Holding Ltd., New Report: Mercado Pago On How Mobile Bridges The LatAm Banking Gap.

Consumer Financial Protection Bureau (CFPB) 56

Consumer Financial Protection Bureau (CFPB) CFPB Online and Mobile Banking FinTech 56

PYMNTS

NOVEMBER 4, 2019

From counterfeiting to identity theft to phishing attacks, digital fraud takes many forms — and online shopping continues to make consumers and merchants vulnerable to such attacks. The rise of mobile commerce and selling of digital goods has added to retailers’ fraud problems. By its measures, merchants pay $3.13 last year, a 6.5

Online and Mobile Banking 49

Online and Mobile Banking Cross-Border Federal Trade Commission Fraud Prevention 49

PYMNTS

MAY 5, 2020

In the age of the coronavirus, everyone is conducting all facets of daily life – commerce, banking, schooling, working – from home. Mobile transactions have become the latest opportunity for fraudsters,” he said. Mobile transactions have become the latest opportunity for fraudsters,” he said. Interacting With The Cardmember.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

PYMNTS

APRIL 22, 2020

Banks are jostling for space in the market because an expanding number of FinTechs and large-scale technology companies are competing for the same set of consumers. Banks must enable fast and seamless onboarding experiences, but these processes should also be secure.

Security 53

Security Online and Mobile Banking Authentication Account Takeovers 53

PYMNTS

FEBRUARY 18, 2020

This opens the door to new avenues of attack by those who wish to steal data, hijack accounts and make off with ill-gotten gains, as Eric Kraus, vice president of risk, fraud and compliance at FIS , told PYMNTS in a recent interview. There are new data privacy concerns, too.”.

Fraud Prevention 66

Fraud Prevention Account Takeovers Online and Mobile Banking P2P 66

FICO

MARCH 9, 2022

The last few years have thrown up many challenges for banks and card providers as everything has shifted online, one of the primary challenges being fraud scams. But the online shift has also created opportunities for financial institutions to demonstrate their strong fraud controls in the digital space.

Fraud Prevention 59

Fraud Prevention Scams Online and Mobile Banking Account Takeovers 59

PYMNTS

JULY 13, 2020

Account takeovers (ATOs) are a growing source of pain for financial institutions (FIs) and their customers, with losses from these attacks rising 164 percent in 2018. FIs can struggle to detect such attacks because fraudsters provide the authentication details necessary to access the accounts. Understanding ATOs.

Credential 58

Credential Bots Authentication Online and Mobile Banking 58

PYMNTS

APRIL 14, 2017

The result of that effort is the company’s inaugural DataVisor Online Fraud Report, which analyzed more than 1 billion use4 accounts and 50 million malicious accounts to gain insights into what really makes fraudsters today tick. PYMNTS: What was the motivation behind starting the DataVisor Online Fraud report?

Account Takeovers 44

Account Takeovers Online and Mobile Banking Credential Compromise 44

PYMNTS

OCTOBER 16, 2020

Customers now anticipate rewards, mobile integration, spend-management offerings — and that transactions that feel immediate and seamless regardless of marketplace or platform. Revolut Likely To Apply For US Bank Charter. Revolut , the European digital bank, is reportedly near applying for a U.S. banking license.

Instant Payments 95

Instant Payments Card Issuer Online and Mobile Banking Federal Reserve 95

FICO

MAY 19, 2020

Banks need to ensure that any suspicious activities on their accounts can be confirmed with them quickly and efficiently and that if they do fall victims, that the situation is managed quickly to minimize the impact on their lives. This will result in more cases of account takeover during this time and for months ahead.

Account Takeovers 52

Account Takeovers Identity Theft Scams Financial Crimes 52

PYMNTS

MAY 4, 2020

Customers and merchants rely on their banks and credit unions (CUs) to ensure they have secure, convenient online transactions, and many FIs work to detect fraud by looking for abnormal purchasing behaviors that could indicate something is amiss. Financial institutions (FIs) face tough decisions when trying to keep their clients safe.

Online and Mobile Banking 79

Online and Mobile Banking AI Credit Union Breach 79

PYMNTS

DECEMBER 16, 2020

And then, after the transaction is made, there’s the task of understanding the byzantine codes and data that are tied to online statements. The “language” of the statements may represent a Rosetta Stone of sorts for the 110 million consumers who have pivoted online in the wake of the pandemic.

Disputes 91

Disputes Transactions Issuers Online and Mobile Banking 91

PYMNTS

AUGUST 5, 2019

Perhaps that’s why, in the midst of the seemingly never-ending stream of headlines about data breaches, account takeovers, stolen credit cards and online fraud , the notion of “check fraud” seems something of an outlier for the up-and-coming fraudster looking to make a decent living. The Whole New World of Check Fraud.

Checks 65

Checks Instant Payments Online and Mobile Banking Irrevocability 65

PYMNTS

FEBRUARY 28, 2017

It’s already been a big year for biometrics, and with everyone from big banks to major retailers investing in the technology, that trend is unlikely to subside any time soon. . The platform is designed to help retailers combat an uptick in online retail fraud, caused largely by ineffective or stolen password credentials.

Account Takeovers 43

Account Takeovers Online and Mobile Banking Authentication Credential 43

PYMNTS

JUNE 11, 2019

owning laptops and 91 percent owning mobile devices, there’s never been greater opportunity for digital fraud. One of the most insidious forms of fraud is account takeovers (ATOs). While human analysts can only monitor a handful of accounts at once, AI can capture a much wider view to detect entire crime rings at once.

AI 60

AI Account Takeovers Online and Mobile Banking Authentication 60

PYMNTS

APRIL 15, 2020

At worst, and more likely, they are collecting card numbers, addresses, phone numbers, DDA, ACH and wire account data, and all kinds of important bits of information to apply to the expanded universe of fraudulent activity. Older users are less familiar with banking online, so they are being increasingly targeted in account takeover attacks.

Online and Mobile Banking 80

Online and Mobile Banking Scams Bots Risk Management 80

PYMNTS

JUNE 13, 2019

One of the latest involves hackers successfully accomplishing account takeovers (ATOs) of users of Zelle, the digital payment service. trillion in 2018, and fraudulent mobile app transactions increased 680 percent between 2015 and 2018. The rise of online banking has provided a host of opportunities for fraudsters.

AI 44

AI Account Takeovers Fraud Detection Online and Mobile Banking 44

FICO

SEPTEMBER 8, 2022

Why consumers are moving to banks with the best fraud and scam prevention. The appeal of these banking innovations has also made it a honeypot for fraud. Scammers are attracted to the increase in money flows and finding new inexperienced consumers to con online. Payments Fraud in Asia Post Pandemic. Saxon Shirley.

Posting 52

Posting Real Time Payments Scams Push-to-Card 52

The Fintech Times

MARCH 18, 2024

The fraud prevention industry is experiencing rapid growth in response to amplified regulatory pressure and increasingly sophisticated threats of online fraud. Digital payments, encompassing everything from online shopping and mobile payments to e-commerce, have created a vast new playing field for fraudsters to exploit.

Fraud Prevention 59

Fraud Prevention AI Fraud Detection Payments 59

The Fintech Times

MAY 22, 2024

However, in its latest report published today, the UK banking and financial services trade association announced that there was a four per cent decrease in the amount stolen to £1.17billion in 2023. Our data indicates that card payments account for over 76 per cent of transaction value at POS.

Scams 59

Scams Finance Push-to-Card Romance Scams 59

PYMNTS

JANUARY 24, 2019

Online shopping network ShopRunner has had a big week. ” In addition, ShopRunner announced it has acquired Precognitive , a solution that combines device intelligence, advanced behavioral analytics, and a real-time decision engine to enable companies to more accurately identify online fraud. ”

Acquirers 51

Acquirers Account Takeovers Online and Mobile Banking On-Demand 51

PYMNTS

NOVEMBER 19, 2019

The fact that fraud is on the rise is not new, nor is it surprising that banks are turning to artificial intelligence (AI) and machine learning to fight back. In the latest Digital Banking Tracker , PYMNTS looks at how banks are currently approaching their use of AI and machine learning in fraud protection and technology innovation.

AI 43

AI Online and Mobile Banking Account Takeovers Innovation 43

Seon

JULY 10, 2024

These may include various types of fraud, such as identity theft, account takeover, payment fraud and application fraud. Fraud monitoring is a broader term encompassing the overall detection and prevention of fraudulent activities within an organization. Fraud transaction monitoring’s scope is narrow.

Transactions 52

Transactions Fraud Prevention Regulatory Compliance Payments 52

PYMNTS

MARCH 10, 2020

The conversation came against a backdrop where, at the end of February, Fiserv said that nearly 600 banks and credit unions (CUs) have joined the turnkey service from Zelle to enable person-to-person (P2P) payment capabilities, and that the number of participants accessing the network via Fiserv has increased ten-fold in 2019 from 2018.

P2P 92

P2P Real Time Payments Zelle Credit Union 92

FICO

AUGUST 27, 2020

With the COVID-19 lockdown wiping out many face-to-face interactions, it’s hardly surprising that more of what we do has naturally moved online. For the consumer, online shopping has become the norm, but so too has opening accounts digitally; even if you look at financial accounts where many would say there is a higher risk of loss.

Authentication 52

Authentication Online and Mobile Banking Breach Risk 52

FICO

SEPTEMBER 14, 2021

It’s pretty easy to use Venmo in-store; after signing up for this feature on the app, you just scan your Venmo QR (Quick Response) code , displayed on the mobile app, at checkout to pay touch-free. These might include favorite grocery stores, drugstores, restaurants and fast food outlets, and preferred stores for online shopping.

P2P 52

P2P Venmo Online and Mobile Banking PayPal 52

PYMNTS

MAY 20, 2020

For merchants and financial institutions (FIs), the “new normal” of commerce — done increasingly online — means that battling fraud is a bit like feeling an elephant. We’re transacting across mobile phones, tablets and laptops, buying everything from toilet paper to meat, and having goods delivered to our doorsteps. Permanently.

Issuers 83

Issuers Fraud Prevention Online and Mobile Banking Rules 83

PYMNTS

JULY 18, 2018

As companies settle into a world governed by Europe’s second Payment Services Directive ( PSD2 ), and as financial institutions (FIs) and FinTech companies explore the possibilities of faster payments and unbundled banking , attention to how to secure those activities is increasing.

Fraud Prevention 41

Fraud Prevention Account Takeovers Online and Mobile Banking On-Demand 41

FICO

JANUARY 6, 2020

Consumer Banking Predictions 2019: Four Trends to Watch. For my predictions, I’ll focus on four areas of tactical concern within consumer banking that I feel confident bank executives will make significant progress addressing 2019,” wrote Tim VanTassel , vice president of our credit lifecycle business line. Read the full post.

Posting 52

Posting AI Online and Mobile Banking Real Time Payments 52

PYMNTS

SEPTEMBER 25, 2019

Today, the most bare bones of information is required to establish identity in the digital economy — usually an email, some other personal identifiers and bank account numbers — and commerce is off and running. As Ritter noted, email accounts are the first avenues of attack for fraudsters.

Economy 75

Economy Verification Online and Mobile Banking Security 75

Fintech Labs Insights

AUGUST 22, 2024

Tuum: Raised $48M for its modular banking technology, gaining traction with banks and financial institutions across Europe. Mahalo Banking: Raised $21M for its banking software; successfully launched new features, experiencing strong growth in client base. QuickFi : Reported a 45% increase in loan volume.

Online and Mobile Banking 15

Online and Mobile Banking Acquirers Payment APIs and Integration AI 15