FICO

JANUARY 31, 2019

Payment Service Providers are pushing to implement their PSD2 Strong Customer Authentication (SCA) solutions ready for the September deadline. However, a significant minority were completely unaware that they could expect to see more demands for authentication. Pushing a Specific Authentication Method Will Cause Issues.

Authentication 40

Authentication Consumer Online and Mobile Banking Push-to-Card 40

PYMNTS

JUNE 28, 2017

According to Adam Vancini, head of authentication for virtual channels at Wells Fargo, banks and financial institutions have long relied on traditional indicators to authenticate consumers — but these new young consumers aren’t behaving the way banks are used to. Focusing on mobile millennials.

Authentication 43

Authentication Online and Mobile Banking Real Time Payments Security 43

Fintech News

AUGUST 26, 2024

It’s a tale of a cultural shift, governments and innovators working in tandem, and millions leapfrogging traditional banking to embrace a mobile-first approach to finance. The region’s historical challenges with traditional banking access have paradoxically catalyzed innovation.

APACS 101

APACS PCI DSS Push-to-Card Online and Mobile Banking 101

PYMNTS

SEPTEMBER 14, 2020

Many universities are used to conducting at least some of their onboarding online. Moving these procedures online thus represents a significant shift for these institutions — one that could be rife with pitfalls if they do not get it right. Another study found that community FIs have seen online account openings increase by 14.5

Online and Mobile Banking 61

Online and Mobile Banking Authentication Adjustments Returns 61

PYMNTS

SEPTEMBER 28, 2016

The information stored inside your phone could soon be used to authenticate you to banks, credit card companies and other financial service providers. According to the Brazilian financial services firm, launched in 2014, it boasts a fraud rate just one-tenth that of larger banks and financial institutions.

Security 67

Security Online and Mobile Banking Authentication Credit Limit 67

PYMNTS

MARCH 11, 2020

The March AML/KYC Tracker® explores the changing regulatory environment and new initiatives for improving customer identity verification and authentication. The Reserve Bank of India recently released guidelines outlining an approved method that private companies could use for conducting KYC checks online by using videos.

Global Payments 60

Global Payments Money Laundering AML Online and Mobile Banking 60

PYMNTS

OCTOBER 8, 2020

This is why verifying consumers’ identities by authenticating their email addresses and other details must be as seamless as the rest of the onboarding experience, Ryan Wuerch , CEO and founder of cash-back platform Dosh , said in a recent PYMNTS interview. . We have bank-level encryption to ensure information is safe and secure. “We

Verification 83

Verification Multifactor Authentication Authentication Online and Mobile Banking 83

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

PYMNTS

FEBRUARY 14, 2020

Although fraud losses from banks, retailers and online platforms have continued into 2020, so has security innovation. That means protecting both mobile and online purchases as well as finding ways to better identify legitimate customers as fraud becomes more sophisticated.

Online and Mobile Banking 60

Online and Mobile Banking Fraud Prevention Authentication Account Takeovers 60

PYMNTS

DECEMBER 5, 2016

The move to adopt mobile payments is progressing at a slow pace, largely because lack of a steady framework across shopping channels is slowing the adoption of mobile payments technology in North American and European markets. Baby steps toward mobile payments. consumers and 74.6 percent of U.K. and Europe.

Mobile Payments 65

Mobile Payments Multifactor Authentication Online and Mobile Banking Authentication 65

The Fintech Times

APRIL 3, 2024

Whether it be retailers, ride-hailing apps, super-apps, or other non-bank service providers, embedded finance appears to be making its way into every sub-sector. As time passes, consumers are seeing the number of embedded finance offerings increase across the wide range of products and services they use.

Embedded Finance 126

Embedded Finance Finance Non-Bank Embedded Payments 126

PYMNTS

OCTOBER 18, 2019

Mastercard is collaborating with four eCommerce retailers — WHSmith.co.uk, Funky Pigeon, Cult Pens and The Card Gallery — to offer the Pay by Bank app to online shoppers, Mastercard announced in a press release on Friday (Oct. Pay by Bank app (PbBa) — created by Vocalink, a Mastercard company — leverages the U.K.’s

Visa 46

Visa Online and Mobile Banking ATM Faster Payments 46

PYMNTS

OCTOBER 4, 2019

That does not mean older verification methods are obsolete, however: Many companies still rely on knowledge-based authentication (KBA) methods like passwords or security questions, even in areas like business lending — where stringent verification is crucial. The World Bank estimates that there are approximately 1.1

Checks 57

Checks Verification Authentication Governance 57

PYMNTS

JUNE 26, 2020

Digital banking has become the new normal as social distancing guidelines and stay-at-home orders have drastically curbed financial institutions’ (FIs’) abilities to conduct in-branch services. Online account openings increased by more than 200 percent in April, while all mobile banking traffic rose by 85 percent.

Online and Mobile Banking 88

Online and Mobile Banking Checks Consumer Authentication Audit 88

PYMNTS

SEPTEMBER 6, 2019

In fact, PYMNTS’ Digital Identity Lifestyle Capsule found that 100 percent of eCommerce customers who were required to submit digital copies of their physical ID documents when creating accounts said it was a satisfactory authentication process. For more on these and other digital identity headlines, download this month’s Tracker.

Authentication 71

Authentication Online and Mobile Banking Verification Government 71

PYMNTS

OCTOBER 26, 2016

Similarly, the continued steady global increase in the use of mobile devices helped fuel the development and release of new tools to security companies, as well as access to richer, deeper user data. Mobile security on the move. But mobile devices offer more than just biometric protection. It’s EMV all over again.

EMV 76

EMV Security CHIPS Online and Mobile Banking 76

PYMNTS

AUGUST 15, 2019

Japan, in the last several years, has been something of a puzzle among mobile payments watchers around the world. And the first mobile wallet in history launched in Japan — created by I Mode and DOCOMO 20 years ago in 1999. And the first mobile wallet in history launched in Japan — created by I Mode and DOCOMO 20 years ago in 1999.

Mobile Payments 61

Mobile Payments Online and Mobile Banking Payments Push-to-Card 61

FICO

DECEMBER 19, 2022

As customer interactions go completely online, digital identity verification and authentication help — but sophisticated authentication can’t stop all types of fraud. That seismic change continues to create inherent risks that banks must address in complex and creative ways. AND “Why?”. FICO Admin. by Adam Davies.

Assessments 52

Assessments Scams Authentication Authorization 52

PYMNTS

JANUARY 18, 2019

Now, though, mobile and other forms of digital payments are making inroads into penitentiaries around the world. There, all types of consumers are, of course, tightly tied to mobile ecosystems such as WeChat and Alipay , as PYMNTS has documented. The use of cash in that country is, in fact, on the path to obsolescence.

Mobile Payments 63

Mobile Payments Payments Online and Mobile Banking Digital Payments 63

PYMNTS

JANUARY 23, 2020

Mobile wallet users of India-based FinTech Paytm were recently targeted by scams in which fraudsters falsely claimed that the customers needed to resolve KYC problems. Approximately 80 banks in Japan joined JPMorgan ’s blockchain-based interbank communications network to quickly discuss signs of potential money laundering.

Money Laundering 62

Money Laundering Security AML Online and Mobile Banking 62

PYMNTS

JULY 20, 2017

New players on the digital banking scene are hoping to change the game by looking to industries that are categorically unlike banks for inspiration. Over the past few years, dozens of so-called digital-only “challenger” banks have emerged on the financial scene, ready to compete with larger more traditional banks.

Online and Mobile Banking 51

Online and Mobile Banking Non-Bank Consumer Technology 51

PYMNTS

AUGUST 8, 2018

In its latest quarterly report , cybersecurity firm ProofPoint emphasized the continued reign of the bank Trojan — a strategy that accounted for 42 percent of the attacks analyzed by ProofPoint for the year’s second quarter. But the bank Trojan reigns supreme. Attackers then use that malware to access bank accounts.

Ransomware 44

Ransomware Phishing Email Compromise Online and Mobile Banking 44

PYMNTS

JANUARY 30, 2020

Consumers also show continued interest in debit even as they adopt newer payment instruments, and a 2019 report found that 61 percent of mobile wallet users linked debit cards. To find more about these and the rest of the latest he adlines, download the Tracker. Around The Next-Gen Debit World. Read this story in the Tracker.

Security 73

Security Debit Card Fraud Detection Federal Trade Commission 73

PYMNTS

JULY 24, 2018

Bank of America Merrill Lynch has announced the launch of a mobile application for cardholders of commercial prepaid cards. With the mobile app, we’re excited to bring a new level of convenience and transparency to our clients’ prepaid cardholders.”.

Online and Mobile Banking 40

Online and Mobile Banking ATM Checks Government 40

PYMNTS

JULY 10, 2019

The move is part of Switzerland’s E-Health initiative, which requires the nationwide implementation of two-factor authentication (2FA) in healthcare. ICONLOOP expects that my-ID data will be readily accepted by banks and FinTechs without the need for further verification. About the Tracker.

Online and Mobile Banking 63

Online and Mobile Banking Verification Ubiquitous Authentication 63

PYMNTS

JANUARY 26, 2017

The bank announced Wednesday (Jan. 25) the launch of MobilePASS , a soft token based in a mobile app that turns a smartphone into a token for professionals. MobilePASS can be used when these professionals need to log into Citi’s digital banking platform, CitiDirect BE, for desktop, mobile and tablet.

Online and Mobile Banking 40

Online and Mobile Banking Authentication Treasury Security 40

PYMNTS

JUNE 11, 2019

owning laptops and 91 percent owning mobile devices, there’s never been greater opportunity for digital fraud. As consumers are justifiably apprehensive about handing businesses their personal information, providers are implementing technologies, such as biometrics and two-factor authentication (2FA), to counter the threat of ATOs.

AI 60

AI Account Takeovers Online and Mobile Banking Authentication 60

M2P Fintech

AUGUST 25, 2023

The customer-merchant Payment Service Provider (PSP) takes charge of the approval process through National Payments Corporation of India (NPCI), swiftly debiting the money from the issuer bank and crediting it to the merchant’s acquiring bank in under 60 seconds. This also includes small ticket transactions.

Financial Inclusion 52

Financial Inclusion Digital Payments Online and Mobile Banking Payments 52

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

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

The Fintech Times

FEBRUARY 19, 2024

Digital and mobile payments have become the predominant payment methods, leading many to believe that cash is on the verge of extinction. The integration of digital payment options, such as mobile, contactless and online payments, has become a cornerstone of modern commerce.

Financial Inclusion 59

Financial Inclusion Online and Mobile Banking Digital Currency Economy 59

PYMNTS

APRIL 22, 2020

Clicked the wrong link in an email, trusted the wrong authoritative voice on the other end of the phone, downloaded the wrong app hiding a malicious little piece of malware. Breaking Into The Two-Factor Authentication Scheme. The scary thing about the SIM swap fraud is it’s not like the victim has done one thing wrong,” Prideaux said.

Authentication 101

Authentication Crime Consumer Accounts 101

Fintech Labs Insights

APRIL 12, 2022

Finding the right bank shouldn’t be. We’ve been on both sides of the table, 25 years running a small business, 5 years working in a bank, and 25 years advising banks on their digital retail banking and lending services. Two-factor authentication. Downloadable transactions (common file formats). Mobile app.

Small Business 15

Small Business Accounts Online and Mobile Banking Authentication 15

PYMNTS

NOVEMBER 11, 2019

Cryptocurrency companies that previously let customers remain anonymous will have to change their tunes in some countries, as will online gambling sites that provided fast onboarding at the expense of rigorous identity verification approaches. To read the full story, download the Tracker. Around The AML/KYC World.

Money Laundering 64

Money Laundering AML Online and Mobile Banking Deepfake 64

PYMNTS

SEPTEMBER 29, 2017

For consumers looking for mobile banking options, there’s no shortage of solutions available in digital download stores alone. based, startup, digital and mobile financial firm Starling Bank, the answer has often involved trying to stay ahead in the crowded digital banking race.

Payment APIs and Integration 46

Payment APIs and Integration Online and Mobile Banking Faster Payments Cross-Border 46

PYMNTS

NOVEMBER 28, 2016

Mastercard announced last week that people in South Africa can now use Masterpass, the digital payments service by Mastercard, for purchases at more than 30,000 SnapScan merchants in South Africa via their mobile phones. The transaction is confirmed with the customer’s ATM PIN code or a one-time PIN code that is sent to their mobile phones.

Online and Mobile Banking 43

Online and Mobile Banking Visa ATM Authentication 43

PYMNTS

MAY 15, 2018

In a landscape that’s fast evolving to match the needs of tech-savvy customers, credit unions are innovating to compete with larger commercial banks and FinTech firms to attract and retain customers. It’s not just online experiences that are getting upgrades. To read the full story, download the latest Credit Union Tracker.

Credit Union 44

Credit Union Innovation Online and Mobile Banking Credit Union Service Organization 44