VISTA InfoSec

OCTOBER 21, 2024

As financial institutions increasingly rely on digital infrastructure to enhance operations, customer experience, and security, they also face growing challenges in mitigating the risks that come with it, such as cyber threats, system failures, and other operational vulnerabilities.

Compliance 182

Compliance Third-Party Service Provider Risk Assessment Audit 182

PYMNTS

FEBRUARY 11, 2020

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.

Credit Union 56

Credit Union Credit Union Service Organization Blocks Bots 56

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.

Credit Union 56

Credit Union Fraud Detection Online and Mobile Banking Account Takeovers 56

The Fintech Times

FEBRUARY 3, 2025

During the last quarter of 2024, Payments Canada also made significant progress in developing an integrated fraud solution having agreed on a fraud strategy with members and participants and on high-level requirements for an effective fraud mitigation system. “Our last quarterly update was in October.

Real Time Payments 64

Real Time Payments Settlement Credit Union Payments 64

PYMNTS

MAY 27, 2020

The COVID-19 pandemic is accelerating the pace of digital innovation across the financial sector, and credit unions (CUs) are no exception. The Credit Union Tracker® , done in collaboration with PSCU , is the go-to monthly resource for updates on trends and changes in the credit union industry.

ATM 97

ATM Innovation Credit Union Mobile Banking 97

Payments Source

FEBRUARY 7, 2018

The results suggest that even as financial institutions implement more sophisticated fraud-mitigation techniques, they have not been keeping pace with criminals.

Credit Union 65

Credit Union Fed Mitigation Payments 65

PYMNTS

NOVEMBER 17, 2020

That’s one of the takeaways from a recent PYMNTS panel discussion with Visa ’s Director of Global Chip Product Tom Rapkoch , Keyno CEO Robert Steinman and Assistant Vice President of Digital Strategy and Innovation at Michigan State University Federal Credit Union Ben Maxim. We think that [is] definitely going to be at play here.

Credit Union 126

Credit Union Crime CVV2 Issuers 126

PYMNTS

SEPTEMBER 19, 2018

Credit unions (CUs), by default, are cooperative in nature. Several credit unions, for example, recently formed partnerships designed to share resources, such as ATMs and physical branches. Around The Credit Union World. ATM solutions provider FCTI Inc. Meanwhile, in the U.S., Meanwhile, in the U.S.,

Credit Union 43

Credit Union Cross-Border ATM Online and Mobile Banking 43

PYMNTS

MARCH 23, 2020

But it is also perhaps a time in which credit unions (CUs) can rise to the occasion, PSCU ’s President and CEO Chuck Fagan told Karen Webster in a recent conversation. It’s a difficult time and an alarming one in many dimensions. But, Fagan noted, there are also opportunities as the world begins to recover from the crisis.

Credit Union 52

Credit Union Credit Union Service Organization Shutdown Volume 52

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. COOPER is not the only recent financial services enhancement introduced by CO-OP.

Credit Union 40

Credit Union Security Risk Management ATM 40

VISTA InfoSec

OCTOBER 7, 2024

As financial institutions increasingly rely on digital infrastructure to enhance operations, customer experience, and security, they also face growing challenges in mitigating the risks that come with it, such as cyber threats, system failures, and other operational vulnerabilities.

Compliance 130

Compliance Third-Party Service Provider Risk Assessment Audit 130

PYMNTS

SEPTEMBER 29, 2020

Blanco said the organization is looking at mitigating risks with virtual currencies. All of these questions go back to the policies and procedures in place to mitigate risk," he said, according to the remarks. Credit unions accounted for 17 percent, while the Money Service Business (MSB) industry accounted for 5 percent.

Fincen 103

Fincen AML Money Laundering Scams 103

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. A big area of focus in payments security, particularly for financial services players such as credit unions, is identity verification.

Credit Union 44

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.”.

Credit Union 60

Credit Union Credit Union Service Organization Fraud Prevention Risk Mitigation 60

Fintech Finance

OCTOBER 3, 2024

Numerated, the leading AI-driven commercial lending platform, today announced its partnership with Alloy, the identity risk management company trusted by over 600 leading banks, credit unions and fintech companies, to deliver best-in-class fraud checks within commercial lending.

Fraud Prevention 97

Fraud Prevention Risk Management Credit Union Automation 97

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.

Credit Union 69

Credit Union Online and Mobile Banking Mobile Banking Security 69

Finextra

OCTOBER 2, 2024

Backbase, the creator of the Engagement Banking Platform, announced today an integration with Middesk, a business identity platform designed to automate business verification and underwriting decisions to help banks and credit unions to mitigate risk and reduce fraud.

Verification 52

Verification Credit Union Underwriting Mitigation 52

PYMNTS

OCTOBER 3, 2019

Loan fraud is a less-discussed — but not less threatening — trend hitting banks, credit unions and other financial service providers, particularly as traditional and alternative players usher in digitization and an online-only lending process. The report noted that large banks are losing an estimated 2.9 percent for smaller banks.

Small Business 63

Small Business Credit Union Mitigation Account Takeovers 63

BioCatch

OCTOBER 16, 2024

Whether that is pushing education on customers who may never even read it, or phone calls from a bank associate warning those customers that they may be lining the pockets of a scammer – today’s approaches to mitigating scams either don’t work or are far from cost effective.

Scams 59

Scams Fraud Detection Credit Union Financial Crimes 59

PYMNTS

APRIL 23, 2020

“As credit unions help their members manage through the current COVID-19 crisis, it’s more important than ever for CUSOs like PSCU to partner with credit unions to help them and their members weather the storm of uncertainty,” PSCU EVP and Chief Operating Officer Tom Gandre told PYMNTS.

Credit Union 63

Credit Union Credit Union Service Organization Business Continuity Fraud Detection 63

Finovate

APRIL 18, 2024

Credit unions, community banks, credit union service organizations, neobanks, embedded finance companies, and payment service providers with a need for embedded lending. High-street banks, credit unions, community banks, regional banks, challenger banks, fintechs, and digital banking providers.

Credit Union 59

Credit Union Credit Union Service Organization BNPL Community Banks 59

PYMNTS

JUNE 30, 2020

Payments credit union service organization (CUSO) PSCU has acquired payment solution firm Primax , according to a press release. Primax has been working with designing and providing services for payment card programs for credit unions for 40 years in the U.S. and the Caribbean, the press release adds.

Card Issuer 52

Card Issuer Issuers Credit Union Credit Union Service Organization 52

PYMNTS

MAY 4, 2020

A 2018 study on payment fraud mitigation reported that 75 percent of financial institutions (FIs) experienced fraud losses. Three common forms of fraud that can threaten credit unions (CUs) are check fraud, card fraud and automated clearing house (ACH) fraud, and fraudsters often deploy phishing emails to deceive and defraud customers.

Phishing 56

Phishing Credit Union Breach Data Breach 56

PYMNTS

MARCH 26, 2020

Five federal financial regulatory agencies are encouraging banks, savings associations and credit unions to offer small loans to consumers and small businesses in response to the coronavirus pandemic.

Consumer Financial Protection Bureau (CFPB) 52

Consumer Financial Protection Bureau (CFPB) Office of the Comptroller of the Currency Credit Union FDIC 52

FICO

MARCH 1, 2022

Fiserv, a leading global provider of payments and financial services technology solutions, has developed a new fraud mitigation service that has reduced fraud losses, which were already low by industry standards, by 10 to 15% for its small to midsize credit union and bank clients. Keeping Up With The Fraudsters.

AI 52

AI Credit Union Mitigation Risk Mitigation 52

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. Crypto MoonPay announces collaboration with PayPal to enable MoonPay users in the U.S.

FinTech 52

FinTech Risk Mitigation Fraud Prevention PayPal 52

PYMNTS

AUGUST 9, 2020

Many credit unions and smaller banks said their interests will be ignored and have declined to sign with up for the giant bank-owned system. About 75 letters, mostly from small- and mid-size banks, trade organizations and service providers recommended the FedNow Service offer enhanced functionality to mitigate fraud.

FedNow 72

FedNow Fed Federal Reserve Instant Payments 72

Faster Payments Council

AUGUST 23, 2024

In response, the Federal Reserve formed a scams definition and classification work group of payments and fraud experts to provide a more consistent foundation for scams reporting to help the payments industry better understand and mitigate the problem. The moderator will drive the conversation, but audience participation will be encouraged!

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FPC ISO 20022 Federal Reserve Instant Payments 128

PYMNTS

JULY 10, 2020

Financial institutions (FIs) thus need to ensure they can successfully block ATOs as well as quickly detect and mitigate any that slip through. Ryan Leblond , manager of fraud prevention and investigations at ESL Federal Credit Union , explained these key strategies in a recent PYMNTS interview.

Multifactor Authentication 53

Multifactor Authentication Authentication Credit Union Fraud Prevention 53

PYMNTS

SEPTEMBER 20, 2018

The firm’s Gladiator iPay Enterprise Security Monitoring (iPay ESM) tool is now live for financial institutions to monitor and mitigate the risk of fraud linked to online bill payment, the company said in a press release.

FFIEC 62

FFIEC Data Breach Credit Union Breach 62

PYMNTS

NOVEMBER 2, 2016

InAuth, the device authentication and intelligence company, and Early Warning, the real-time payments, authentication and risk mitigation company, announced Tuesday (Nov. Zelle is an inclusive network that is open to all banks and credit unions in the U.S. consumers and businesses send and receive money, on Oct.

Zelle 62

Zelle Real Time Payments Authentication Risk Mitigation 62

The Finance Weekly

SEPTEMBER 23, 2021

Customers entrust confidential information to financial service providers such as banks, brokerage firms, and credit unions. You can identify potential hazards and take the necessary steps to mitigate them. As a result, accountants will not have to manually record anything. Cybersecurity.

Risk Assessment 130

Risk Assessment Cross-Border AI Automation 130

PYMNTS

SEPTEMBER 21, 2016

Same Day ACH will create a new option for faster payments for all the banks and credit unions across the U.S. Alternatively, Same Day ACH is designed to support all ACH payments, both credit (push transactions) or ACH debit payments (those which pull money from an account after authorization.).

Faster Payments 76

Faster Payments Same Day ACH ACH ACH Network 76

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.

ACH 52

ACH Fraud Prevention AI Same Day ACH 52

PYMNTS

JULY 22, 2020

As real-time payment infrastructure grows more sophisticated, technology presents an opportunity for organizations to mitigate the adoption hurdle. Yet for many entities, the concept of implementing real-time processing across an entire system can feel overwhelming complex. “That’s where the true complexity is.”

Real Time Payments 90

Real Time Payments FedNow Payments Faster Payments 90

PYMNTS

FEBRUARY 3, 2020

“As digital fraud and ID theft continue to rise and as two billion people still lack access to traditional banking, now is a critical time to leverage the power of digital ID and risk mitigation solutions to solve these complex challenges. Before InAuth, Stanton was the founder of the U.S.

Risk Mitigation 52

Risk Mitigation Verification Advisors Credit Union 52

EBizCharge

JULY 16, 2024

Financial institutions like banks, credit unions, and other network participants must adhere to NACHA guidelines to ensure smooth operations. This includes developing policies and tools to adequately identify, assess, and mitigate potential fraud.

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NACHA Nacha Rules ACH Network ACH 52