M2P Fintech

MARCH 24, 2025

It empowers consumers through data aggregation, personalized services, and innovations like pay-by-bank. Expect a consumer-centric, secure, and innovative financial future, accessible worldwide. Robust encryption, multi-factor authentication, and strict access controls are crucial security measures.

Payment APIs and Integration

Finovate

APRIL 15, 2025

Features Seamless Integration: Embeds banking into apps with SDKs Enhanced Security: Biometric authentication, KYC, and transfer lock Uninterrupted Service: Break-glass failover ensures continuous banking Who’s it for? Credit unions, community banks, and regional banks.

Credit Union

PYMNTS

MARCH 1, 2017

There’s a war going on in the digital world, one that most consumers are unaware of, despite the impact it could have on their money and their privacy — a battle between fraudsters and security providers over account takeovers. Account takeovers accounted for more than $2.3 billion in losses last year.

Account Takeovers

PYMNTS

OCTOBER 13, 2020

Consumers are relying more heavily on eCommerce during the pandemic, and they have high standards for what digital shopping should be like. A recent study of North American and European consumers found that 92 percent expect their digital transactions to be safe, streamlined and convenient, for example. Read more in the Tracker.

Account Takeovers

PYMNTS

FEBRUARY 19, 2019

Account takeovers are becoming bigger business for criminals — or, at least, the business of preventing account takeovers in the digital retail and payments realm is becoming an increasing focus of companies and security experts. Account Takeover Growth.

Account Takeovers

PYMNTS

OCTOBER 23, 2017

If people can accept long lines at the TSA and the occasional sore arm at the Minute Clinic, why can’t they accept an extra layer of authentication when using their credit cards online or the need to update their passwords more frequently? They’re using weak passwords – oftentimes, the same weak password for all of their online accounts.

Account Takeovers

PYMNTS

AUGUST 22, 2018

22) that it has rolled out two enhanced consumer authentication solutions, step-up authentication and identity verification, to mitigate card fraud within call centers. In a press release , Fiserv said the two new solutions expand beyond knowledge-based consumer authentication that can be vulnerable to fraud.

Consumer Authentication

PYMNTS

SEPTEMBER 10, 2019

The problems with identity theft and account takeover (ATO) fraud are real and seriously need to be addressed. Or to decide that every consumer needs to be holding onto multiple devices for multiple life functions to keep things separate and secure. “We Security With Simplicity . We have to admit that ship has sailed.

Consumer Authentication

PYMNTS

JUNE 14, 2019

Online games store and centralize users’ payment information, making them prime targets for hackers who acquire data via account takeovers (ATOs). Account takeovers: the ultimate boss fight. Users must input these codes before they can access their accounts. ATOs are arguably the most nefarious type of fraud.

Account Takeovers

PYMNTS

SEPTEMBER 29, 2017

That the Equifax breach will be a major watershed moment in the history of data security, impacting consumers nationwide for years to come, is not a terribly controversial point. It is bad news when the bad guy already had access to much of the data he or she needed to fool standard authentication,” Brown said.

Account Takeovers

PYMNTS

JUNE 14, 2017

Online fraud is no small problem for merchants, but a significant number of retailers do not spend enough time on the dual goals of streamlining the consumer data experience while weeding out possible fraudulent transactions. Are they concerned that additional steps in authentication will result in shopping cart abandonment?

Consumer

FICO

NOVEMBER 24, 2020

Fraud has spiked during the pandemic , with criminals upping their game as consumers swing into holiday shopping mode. The fraud problem has gone viral - consumers have filed more than 130,000 reports of fraud to the FTC and have lost $182 million to these activities during the pandemic. Like COVID, Fraud Is Rampant.

Identity Theft

The Fintech Times

DECEMBER 18, 2023

They predict that social engineering attacks will surpass ransomware in 2024 due to increased sophistication, AI tools and emerging techniques, leading organisations to bolster cybersecurity defences with AI, scenario testing and multi-factor authentication. When you think about it, it’s the high-tech version of social engineering.

Cybersecurity

Fi911

JANUARY 18, 2024

They can then open new accounts, apply for loans, or make unauthorized purchases in that person’s name, leaving the victim to deal with the financial and emotional consequences. In other cases, the scammer may leverage the new account — and the credit history it establishes — to obtain other, higher-value accounts.

Account Takeovers

PYMNTS

SEPTEMBER 17, 2020

Consumers who rent an Airbnb , book a pet care provider with Rover or request an Uber need to be sure that the service providers on the other end are who they say they are and will provide what the user is paying for. consumers rely on some form of sharing economy system for convenience in their daily lives, according to one PYMNTS report.

Verification

PYMNTS

MARCH 14, 2020

The report found that attacks tend to spike on the 15 th and 30 th of each month, which is also when consumer shopping hits its highest levels. percent of all eCommerce fraud , is still account takeover. Criminals now mimic the behavior of legitimate shoppers to hide their activity. The main offender, constituting 29.8

Account Takeovers

PYMNTS

AUGUST 7, 2019

At this point in 2019, we’ve all dealt with some flavor of two-factor authentication that uses SMS one-time passcodes. It’s a mild piece of friction, but it’s not terribly onerous and is doing something useful: keeping consumers safe. There is an expression: ‘Your bank account will outlive your marriage.’

Authentication

PYMNTS

NOVEMBER 9, 2018

In the latest Omni Security And Authentication Report , PYMNTS explored the different tactics cybercriminals are deploying this holiday season, and how retailers are working to safeguard themselves. Around The Security And Authentication Space . To read the full feature story, download the latest report here. About The Report.

AI

PYMNTS

SEPTEMBER 24, 2020

The ongoing COVID-19 pandemic and its associated social distancing and stay-at-home orders have pushed untold services online for easier consumer access, with banking serving as a prime example. Without in-person interactions with bank staff, account takeovers (ATOs) and customer impersonations are much easier for fraudsters to accomplish.

Account Takeovers

PYMNTS

JULY 9, 2019

In an new PYMNTS interview, Reinhard Hochrieser, vice president of product management at authentication services provider Jumio , provided an overview of the global state of ID verification and authentication, along with access management — and how improving those processes and technology can lead to gains for merchants and financial institutions.

Authentication

Fi911

JULY 8, 2024

The intent is to use stolen money, personal information, or both, to take advantage of both consumers and businesses. Fraudsters exploit vulnerabilities in online payment systems and often use stolen credit card information or create fake accounts to make unauthorized purchases.

Account Takeovers

PYMNTS

DECEMBER 9, 2020

The pandemic has spurred consumers to go online for all manner of daily activities — and the fraudsters are following them. And new regulations are taking root or are on the horizon to help protect consumers, their data and how that data might be used. Looking At Trust .

Privacy

PYMNTS

JANUARY 28, 2021

With 6 in 10 financial institutions (FIs) turning to digital channels for customer acquisition and the mobile experiences those customers now expect, digital-first banking is much on the minds of consumers, regulators and, most assuredly, bad actors. Consumers Getting Wise To Scams. It’s a situation demanding action.

Federal Trade Commission

PYMNTS

JULY 1, 2019

Consumers are eager to utilize these services, but cybercriminals are just as ready to exploit them. Account Takeovers Plague the QSR Industry. Cybercriminals can obtain stolen identities for as little as $4, meaning it’s easier than ever for them to launch account takeover (ATO) attacks.

Account Takeovers

PYMNTS

NOVEMBER 17, 2020

The nature of these payments means that, once they have been made, consumers cannot reverse them. They can use fraudulent invoices to scam unsuspecting businesses and consumers or hijack legitimate email correspondence during property transactions to divert funds into the bank accounts of their choosing, for example.

Scams

The Fintech Times

MAY 17, 2024

In fact, as much as 72 per cent of consumers worry on a day-to-day basis about being fooled by a deepfake into handing over sensitive information or money. Jumio surveyed over 8,000 adult consumers, split evenly across the United Kingdom, United States, Singapore and Mexico.

Deepfake

PYMNTS

MARCH 20, 2020

Many are turning to artificial intelligence (AI), machine learning (ML) and other advanced learning solutions to prevent and detect breaches before they can cause large-scale problems, but bad actors are using the same set of tools to sidestep authentication processes or impersonate legitimate customers.

Fraud Prevention

PYMNTS

SEPTEMBER 18, 2020

Making sure that you are being yourself, so to speak, is the province of ever-smarter authentication systems that verify parties to a transaction and keeping things legit. Consumers Want To Feel Safe’. When you create a new online account, we are capturing an image of the government-issued ID and a 3D face map.

Verification

PYMNTS

NOVEMBER 16, 2020

Fraudsters are deploying numerous methods to perpetrate this fraud, including authorized push payment (APP) schemes and account takeovers (ATOs), but these methods all have one thing in common, according to Megan Kakani , vice president of product and innovation at KeyBank. How The Pandemic Makes APP Fraud More Pernicious.

Authentication

The Fintech Times

DECEMBER 21, 2023

Today we hear insights from payments experts, including the adoption of tap-to-pay technology, the role of blockchain and AI in payments, flexible payment terms, security in authentication methods, PSD3 implementation, vertical-specific solutions, and the rise of digital wallets.

Cross-Border Payments

PYMNTS

JUNE 19, 2020

Payfone has been working with onboarding for health care organizations, financial institutions and tech companies to implement new authentication and security measures, and is able to detect fraud calls and other risks while removing cumbersome processes for legitimate calls. With one in three U.S.

Verification

PYMNTS

OCTOBER 16, 2020

Fraudsters deploy a variety of different methods when attacking these apps, ranging from sophisticated methods like account takeovers (ATOs) to impersonation schemes that trick users into sending them money directly. For more on these and other financial crime news items, download this month’s Playbook. About The Playbook.

Zelle

PYMNTS

JUNE 25, 2018

Cybercriminals have a new favorite weapon in their quest to allude regulators, law enforcement and corporate security departments: account takeovers. Recent research reveals account takeovers have risen by 300 percent over the past year, with losses topping $5 billion. The Rise Of Account Takeovers.

Account Takeovers

The Fintech Times

FEBRUARY 26, 2024

Enter IAM platform convergence Many financial institutions still rely on home-grown and/or legacy Identity and Access Management (IAM) solutions to meet their authentication, identity verification and authorisation needs. Customer experience : They excel at streamlined, connected journeys, leaving clunky interfaces in the dust.

API

PYMNTS

JANUARY 24, 2019

Those questions also speak to the seemingly impossible tension in the world of payments and new card accounts: how to onboard and authenticate consumers as quickly and seamlessly as possible, while also protecting them and the institution from fraud. (Hint: The criminals know the difference.) Fraud Getting Worse.

Credit Risk

PYMNTS

JUNE 22, 2020

Consider the fact that, as estimated by Javelin Strategy and Research, the combined estimated losses of new account fraud and account takeover in the U.S. Such authentication is crucial in streamlining the decisioning process and advancing “good” applications while reducing false positives. alone topped $10.2

Identity Theft

PYMNTS

OCTOBER 29, 2018

In this Deep Dive, PYMNTS examines the authentication challenges posed by PSD2 and other data sharing initiatives, and the security risks that may be lurking in open banking systems. Consumers have already latched on to open banking offerings and applications, using such tools more than 1.2 Adapting To Open Banking .

Security