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Credit Unions, CUSOs Fighting Fraudsters

PYMNTS

This, in turn, helps mitigate fraud.”. Delivering more robust analytics for predictive modeling as well as [continually investing in and deploying] multilayered fraud mitigation tools helps identify spending trends and fight fraud.” Financial institutions should leverage data analytics to their benefit.

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PSCU Unveils Enhanced Fraud Services To Help Protect Credit

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PSCU , which is billed as the nation's premier credit union service organization (CUSO), has announced its new Enhanced Fraud Services system, which the company said “has helped 10 early adopter credit unions combat fraud of all types, ranging from first-party chargeback fraud to identifying card information being sold on the dark web.”.

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FinovateSpring 2024 Sneak Peek Series: Part 4

Finovate

Credit unions, community banks, credit union service organizations, neobanks, embedded finance companies, and payment service providers with a need for embedded lending. Banks, credit unions, payment providers, and SMBs. Banks, credit unions, lenders, and payment providers.

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PSCU Prevented $277M In Credit Union Fraud Last Year

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The credit union service organization (CUSO) said it blocked cybercriminals at several channel intersections, including at the point of sale, at its contact centers and other avenues. PSCU has prevented over $277 million in would-be fraud last year, 30 percent more than in 2018.

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Preparing For Unprecedented Times

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This is imperative to mitigating impact. Additionally, having policies and business continuity plans for key partners is imperative, as is assessing key vendors that may be located in high-risk areas to ensure the availability of readily sourced alternatives.

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For Credit Unions, Doing The Right Thing Is Also Doing The Smart Thing

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The challenges in mitigating a disaster, particularly one like COVID-19 — the disease caused by the coronavirus, which is novel and thus unprecedented — is there is no standard rulebook to turn to when assessing risk. It certainly could be a risk that we see later this year [and] in the next year,” he said. “But