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Credit Unions, CUSOs Fighting Fraudsters

PYMNTS

Credit unions across the country are on high alert for scammers looking to take advantage of members during the pandemic and are stepping up fraud prevention efforts as a result,” according to PYMNTS’ April Credit Union Tracker® done in collaboration with PSCU. ” Phishing, Smishing and the Value of Education .

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Mastercard, PSCU tackle breach risk at credit unions

Payments Source

System breaches similar to events at Equifax and Marriott could just as easily happen to credit unions, leading Mastercard and the credit union service organization, PSCU, to take protective measures.

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Moving Credit Unions From In The Wallet To Top Of Wallet

PYMNTS

Among the most important questions to arise from that general trend is what credit unions must do to take advantage of that opportunity — more specifically, to move from in the wallet to top of wallet. This is a similar investment on the services side.” Without payments, a credit union goes back to being a savings and loan.”.

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CUs Use AI, Cloud-Based Tools To Drive Member Engagement

PYMNTS

The January Credit Union Tracker® explores the latest development in the credit union (CU) sector, including an examination of why it is so important for CUs to expedite their digital transformations and how they can help accommodate pandemic-induced challenges. Around The Credit Union Landscape .

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CULedger Debuts Credit Union Payments Exchange

PYMNTS

Credit union service organization CULedger has debuted its financial exchange for credit unions using R3’s Corda blockchain technology, the firms said in a press release Thursday (Dec. CUPay was first announced earlier this year in partnership with Luxoft.

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PSCU Prevented $277M In Credit Union Fraud Last Year

PYMNTS

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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Deep Dive: How Open Banking Can Help Credit Unions Succeed

PYMNTS

The market share of credit unions is only a fraction of their larger bank counterparts, but they tend to inspire a greater sense of loyalty among customers. Data from PYMNTS’ Credit Union Innovation Index found that 60.8 How Does Open Banking Help Credit Unions?