Finovate

JULY 18, 2024

For more from Streamly and FinovateSpring, check out our blog post from last week, AI in Financial Services: Automation, Profitability, and Fraud Prevention. Credit union solutions: What’s different about this landscape? Waupsh also discusses the importance of adapting business strategies to ever-evolving customer needs.

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Credit Union Community Banks Fraud Prevention Cybersecurity 59

PYMNTS

JUNE 21, 2019

Consumers’ lives are becoming more digitally focused, which means it’s natural and expected that credit unions (CUs) are feeling the pressure to raise the level of their services across channels. This fact is borne by data in the latest edition of the Credit Union Tracker , a PYMNTS collaboration with PSCU , which found that 59.9

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Credit Union FinTech Online and Mobile Banking ATM 65

Fintech Finance

JANUARY 29, 2025

Integrated payment hub for advanced processing and workflow automation with ISO 20022 translation, duplicate detection, transaction monitoring and fraud prevention. Subscription-based pricing tailored to contract duration and usage, providing financial institutions with cost predictability and scalability.

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SWIFT ISO 20022 Payment APIs and Integration Disaster Recovery 59

Finovate

FEBRUARY 10, 2025

The integration with Backbase’s engagement banking platform will provide banks with real-time, AI-powered, proactive fraud prevention, plus lower operational costs thanks to AI-powered risk assessment that minimizes false positives. The company also recently partnered with Nordic digital transformation consultancy Knowit.

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Financial Crimes Crime Fraud Prevention Account Takeovers 64

Finovate

SEPTEMBER 23, 2024

Fraud prevention Financial crime risk management solutions provider Hummingbird acquires no-code integration and automation specialist LogicLoop. Credit unions OneAZ Credit Union partners with Backbase for its Engagement Banking platform. Wealth management U.K.-based

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FinTech Credit Union Fraud Prevention Financial Crimes 98

Fintech Review

FEBRUARY 6, 2025

The collaboration integrates Feedzai’s Digital Trust solutions with Backbase’s Engagement Banking Platform , offering financial institutions tools designed to enhance fraud prevention, support secure banking environments, and optimize digital customer experiences.

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Financial Crimes Crime Fraud Prevention Risk Assessment 52

PYMNTS

OCTOBER 11, 2018

Credit unions can be easy to overlook and underestimate — individually, they generally don’t have a massive amount of assets, their membership bases are often pretty small and more localized, and on average their rate of credit card penetration among members is pretty small: 15 to 17 percent on average. The Member Experience.

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Credit Union Fraud Detection Online and Mobile Banking Account Takeovers 56

PYMNTS

JULY 31, 2017

Is the credit union market ready for its close-up? In fact, the federally backed National Credit Union Administration (NCUA) reported credit union membership grew by 4.3 million in Q2 of this year alone, with the value of loans held by credit unions now almost at $885 billion.

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Credit Union NCUA P2P Regulations 45

PYMNTS

FEBRUARY 11, 2020

PSCU has prevented over $277 million in would-be fraud last year, 30 percent more than in 2018. 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.

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Credit Union Credit Union Service Organization Blocks Bots 56

PYMNTS

JULY 9, 2020

FIs may find that they can no longer get by relying on rules-based fraud detection systems that raise alerts when users violate certain conditions. Machine learning (ML)-powered tools can make fraud fighting more flexible and responsive, however. Read the full story in the Playbook.

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Fraud Prevention Account Takeovers Authentication Identity Theft 104

PYMNTS

MARCH 29, 2019

As the latest Credit Union Innovation Playbook shows, credit unions stepped into the uncertainty of the government shutdown earlier this year by offering zero percent interest loans or deferring loan payments. 42 percent: Share of CU members who want their CUs to prioritize anti-fraud prevention.

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Credit Union Fraud Prevention Consumer Shutdown 40

PYMNTS

APRIL 4, 2019

Credit union (CU) associations and service providers are pushing for the adoption of technology to help with security and compliance. In retail, Western Union has teamed up with Dollar General to let customers initiate money transfers digitally and pay in person at the merchant’s stores. as of December 2018.

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Credit Union Cybersecurity Technology Compliance 46

PYMNTS

JANUARY 20, 2017

While banks and credit unions are a part of the equation, Buzzard explained that the onus of “issuing” an authenticated identity should not fall solely on the institutions. But in the case of financial services, those mishaps by an employee can have dire consequences when it comes to security and fraud prevention.

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Credit Union Fraud Prevention Authentication CHIPS 44

PYMNTS

NOVEMBER 10, 2020

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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Credit Union Credit Union Service Organization Fraud Prevention Risk Mitigation 60

Fintech Finance

AUGUST 19, 2024

Unit21 , a global risk and compliance leader that proactively mitigates risks tied to fraud, money laundering, and other financial crimes, today announced a new bundle of features for Automated Clearing House (ACH) transactions.

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ACH Fraud Prevention AI Same Day ACH 52

PYMNTS

AUGUST 28, 2019

This means that smaller players, such as independent banks or credit unions (CUs), often risk falling behind. One CU making waves in the digital scene is California Coast Credit Union (CCCU), a San Diego-based financial institution (FI) with 185,000 members and $2.6 billion in assets.

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Credit Union AI Near Real-Time Fraud Prevention 46

The Paypers

APRIL 1, 2016

(The Paypers) Liberty First Credit Union has selected TRC Interactive to deliver an online interactive experiential exercise for banks and credit unions.

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Credit Union Fraud Prevention 28

PYMNTS

MAY 9, 2018

CO-OP Financial Services said Tuesday (May 9) that it is releasing fraud-fighting tools for its client credit unions, a move that would beef up the role of artificial intelligence in helping those financial institutions become more secure.

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Credit Union Security Risk Management ATM 40

Fintech Finance

OCTOBER 4, 2024

Key challenges include the development of ubiquitous fraud prevention tools and end-user interfaces. The study, fielded between July 25 and August 20, 2024, included responses from 25 third-party enablers, such as payment processors, gateways, digital vendors, bankers’ banks, and corporate credit unions, serving 90% of U.S.

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Instant Payments Faster Payments FPC Corporate Credit Unions 93

Finextra

FEBRUARY 12, 2025

Data Zoo, a global leader in identity verification data, has announced a strategic partnership with Alloy, an identity and fraud prevention platform provider trusted by over 600 leading banks, credit unions and fintech companies, to provide enhanced global data for secure customer onboarding.

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Fraud Prevention Credit Union Verification Security 52

Finovate

SEPTEMBER 24, 2024

As the first major investment for the company, the capital will help accelerate the development of Illuma’s voice verification offerings to help banks and other institutions fight fraud, voice cloning, deep fakes, and more.

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Credit Union Deepfake Authentication Fraud Prevention 59

PYMNTS

APRIL 1, 2020

Credit unions (CUs), as much as other financial entities, are seeing a boom in competition as banking moves to online and mobile channels. In the March Credit Union Tracker® , PYMNTS analyzes the latest developments in the CU space, such as how they are tackling fraud protection challenges in a growing online banking ecosystem.

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Credit Union Online and Mobile Banking Innovation AI 72

Finovate

OCTOBER 8, 2024

In the years since then, Alloy has grown into an end-to-end identity risk management platform with more than 600 banks, credit unions, and fintechs using its technology to manage fraud, credit, and compliance risks. The company has raised more than $207 million in funding according to Crunchbase.

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Embedded Finance Finance Credit Union Fraud Prevention 64

PYMNTS

APRIL 2, 2020

Competition for customers — especially millennials — from larger banks and FIs has long required credit unions to keep pace with their more innovative counterparts. Credit unions must discover where and how their members want to transact and then ensure their in-house growth and innovation strategies match up with those preferences.

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Credit Union Online and Mobile Banking Mobile Banking Security 69

Clearly Payments

APRIL 25, 2024

increase could be authorized for fraud prevention initiatives. Key issues include its impact on small banks and credit unions, the actual benefits passed on to consumers, adjustments in bank fees, the distribution of benefits between merchants and consumers, and ongoing legal challenges. An additional $0.01

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Debit Card Federal Reserve Caps Credit Union 101

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.

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P2P Real Time Payments Zelle Credit Union 92

PYMNTS

MAY 22, 2019

Where once, as he said, “several years ago, the best mobile strategies were typically tied to top-tier banks, today, banks and credit unions of all sizes, from coast to coast, have effectively leveraged a growing FinTech ecosystem of tools, technology and partners.”. The Application Continuum. and acquire more customers.

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Fraud Prevention Online and Mobile Banking Verification Accounts 67

PYMNTS

DECEMBER 15, 2016

According to Garrity, who founded Financeit , the deal that it made with Concentra, a provider of services to credit unions, has doubled its loan value and revenue. As a result, the company will now also consider making more acquisitions. Part of our growth plan is to consolidate the industry,” he said in the report. “We’re

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Finance Regulatory Compliance Fraud Prevention Credit Union 66

Fintech Finance

SEPTEMBER 9, 2024

The majority of businesses practice fraud prevention measures, but there is room for improvement, including better password management. Despite the prevalence of fraud, businesses feel protected by their financial institution; 7 out of 10 businesses were fully or partially reimbursed.

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Online and Mobile Banking Credit Cards Scams Payer 97

PYMNTS

OCTOBER 16, 2020

In this month’s Preventing Financial Crime Playbook, Armistead explains how artificial intelligence (AI) can offer a bird's eye view of suspicious transactions and stop fraudsters from exploiting legitimate customer vulnerabilities. trillion a year. Developments Around The Financial Crimes Space.

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Zelle P2P Scams Financial Crimes 89

PYMNTS

AUGUST 28, 2019

The collaboration seeks to promote a “friction-free” digital identity and authentication services tied to fraud prevention. Enstream, the companies said, now serves more than 40 parties including some of the largest banks and credit unions in Canada.

FinTech 69

FinTech Credit Union Online and Mobile Banking Fraud Prevention 69

Finovate

MAY 6, 2024

Fraud prevention AML and fraud risk mitigation company Unit21 launches ACH Risk Scores and Action Event Rules. Lending Libro Credit Union seeks to enhance its lending operations via a transition to nCino’s cloud banking platform. to buy crypto via their PayPal accounts.

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FinTech Risk Mitigation Fraud Prevention PayPal 52

PYMNTS

MARCH 6, 2019

In the March Credit Union Tracker , PYMNTS explores how credit unions (CUs) and credit union service organizations (CUSOs) are working to cater to the unique financial needs of their members, while also focusing on continually combating fraud. Around the Credit Union Landscape.

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PYMNTS

DECEMBER 6, 2018

Such a scenario stands as a terrifying example of not only the sophistication of criminals, but also the threat of fraud in a real-time payments environment. A holistic approach to fraud prevention is also needed. Look at [fraud prevention] from an enterprise level, not just a business unit level,” Ruark advised.

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Faster Payments AI Fraud Prevention Real Time Payments 53

PYMNTS

MAY 6, 2020

These smaller banks often lack larger FIs’ investment capacities, meaning their fraud prevention efforts may also be less robust. Fraud losses often affect smaller banks or credit unions at harsher rates, too, costing them between 4.5 percent and 5.8 percent of their revenues on average, according to a 2019 survey.

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Fraud Prevention Money Laundering AI Identity Theft 72

The Fintech Times

AUGUST 12, 2024

Commissioned by Discover® Financial Services’ PULSE debit network and conducted by Banking & Payments Group , the study gauged insights from large banks, credit unions and community banks. On average, active debit cardholders completed 34.6 transactions per month, including 30.7 ATM transactions.

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Debit Card Consumer Debit Transaction Point-of-Sale (POS) 64

PYMNTS

JULY 24, 2020

Criminals can then use these identities to open bank and credit union accounts, secure loans and ultimately vanish without ever repaying. The July-August FI Fraud Decisioning Playbook examines how FIs are upgrading their strategies to better detect and thwart this fast-growing form of crime.

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Credit Union Federal Reserve Crime Authentication 73