PYMNTS

APRIL 22, 2020

There has been greater interest among FIs for tools that can provide the same level of service and satisfaction regardless of channel, with 88 percent of banks’ fraud executives stating that key use cases for risk assessment tools are ones that improve onboarding experiences. Data and Authentication Frustrations.

Security 53

Security Online and Mobile Banking Authentication Account Takeovers 53

FICO

JANUARY 11, 2021

Identity-based fraud takes many forms: application fraud , bust-out fraud , account takeover , synthetic identities and identity theft. The goals of a successful, comprehensive identity verification program include: Increase legitimate bookings of new accounts by reducing friction during the application through risk management tools.

Online and Mobile Banking 52

Online and Mobile Banking Authentication Identity Theft Verification 52

PYMNTS

SEPTEMBER 5, 2019

Fraud protection has never been taken lightly by call centers, but the need for stricter authentication is reaching new levels in the face of automated bot attacks and near-daily account takeover (ATO) attempts. Many customers still like the convenience of KBA tools, however, which is why Lindsay Sacknoff, head of U.S.

MFA 46

MFA Multifactor Authentication AI Authentication 46

PYMNTS

OCTOBER 26, 2018

Maeder, co-founder of the Loyalty Fraud Prevention Association , a group that offers resources, information and best practices to companies with loyalty programs, digital fraudsters have been using account takeovers (ATOs) to target these offerings.

Fraud Prevention 57

Fraud Prevention Account Takeovers Accounts Authentication 57

FICO

AUGUST 24, 2020

Second, after I figured out how to use mobile deposit the first time, I asked myself, “Why did I ever go to the bank? Mobile deposits are so easy!”. Mobile banking and payments activity has surged globally since March 2020, driven by factors including temporary bank branch closures and a rise in contactless payments.

Online and Mobile Banking 52

Online and Mobile Banking Mobile Deposit Funds Availability Contactless Payments 52

BioCatch

DECEMBER 27, 2023

When banks think of transaction authentication, they look at obtaining confirmation from the customer through an alternate channel.

Payment Security 52

Payment Security Security Payee Authentication 52

FICO

JULY 28, 2021

From my mobile banking app, I can even initiate a wire transfer, which in days past was reserved for making large purchases (like a house) or sending money abroad. My point is that checking accounts are now a mini clearing house for all manner of inflows and outflows.

NACHA 52

NACHA ACH Scams Account Validation 52

FICO

AUGUST 26, 2021

From my mobile banking app, I can even initiate a wire transfer, which in days past was reserved for making large purchases (like a house) or sending money abroad. My point is that checking accounts are now a mini clearing house for all manner of inflows and outflows.

Real Time Payments 52

Real Time Payments Zelle Federal Reserve FedNow 52

PYMNTS

JANUARY 19, 2021

In financial services, in the eternal war to keep customers (and themselves) safe from online fraudsters, banks may lift a mantra from the real estate sector: It’s all about location, location, location. Geolocation services are proving to be a powerful weapon against phishing attempts, account takeovers and other schemes.

Online and Mobile Banking 90

Online and Mobile Banking Addressing Scams Account Takeovers 90

The Fintech Times

MAY 22, 2024

The report found that card ID theft increased, with losses up 53 per cent to £79.1million, as many criminals reverted to stealing ID and falsely applying for new credit cards or account takeovers, were they not able to trick someone through APP.

Scams 59

Scams Finance Push-to-Card Romance Scams 59

PYMNTS

NOVEMBER 16, 2018

Even so, it doesn’t veer too much toward the illusionary and nostalgic to submit the proposition that banking, and other financial services , used to be much more personalized — much more one on one — than is the case now. Companies can use AI to strengthen the level of insight they have about markets, customers, everything,” Adjaoute said.

AI 43

AI Fraud Prevention Online and Mobile Banking Money Laundering 43

Fintech Labs Insights

AUGUST 22, 2024

Horizn: Enhanced training platform with new languages, focusing on European banks. iProov: Raised $70M, leading the way in online biometric authentication, securing important European governmental contracts. Sonect: Raised $22M, virtual ATM network growing through partnerships with European retailers and banks.

Online and Mobile Banking 15

Online and Mobile Banking Acquirers Payment APIs and Integration AI 15

FICO

MAY 19, 2020

This will result in more cases of account takeover during this time and for months ahead. As anti-fraud professionals, we should: Be aware of increased account takeover and customers susceptible to scams and help by educating our customers ( Here is some recent advice and tips for consumers ).

Account Takeovers 52

Account Takeovers Identity Theft Scams Financial Crimes 52