The Fintech Times

FEBRUARY 26, 2024

The rise in digital-first, digital-only providers has introduced competition and fundamentally transformed customer expectations.The demand for seamless, secure, and personalised financial experiences is fierce. Orchestrate customer journeys The digital age demands customer journeys that are secure, seamless and intuitive.

API

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

JANUARY 28, 2021

It’s a situation demanding action. This new vigilance is the result of rampant cybertheft throughout the pandemic, from brazenly diverting government Paycheck Protection Program loans to the bad businesses of credential theft and account takeovers. Quick And Seamless Security. It’s on banks to deter them.

Federal Trade Commission

Fintech Finance

AUGUST 2, 2024

Advanced Features and Capabilities Key features include support for SWIFT, SEPA, and ISO20022 payment formats, device fingerprinting, biometric authentication, real-time monitoring, and AML screening. ComplyTek’s integrated solutions ensure that organizations stay ahead of regulatory demands and financial crime risks.

Instant Payments

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.) Baseline Advantage.

Credit Risk

PYMNTS

NOVEMBER 17, 2020

Fraudsters know that higher transaction volumes and a demand for fast processing times leave merchants vulnerable to attacks. Fraudsters know that higher transaction volumes and a demand for fast processing times leave merchants vulnerable to attacks. Behavioral Biometrics Ensure You Are You .

Volume

PYMNTS

MAY 24, 2017

The software was reportedly built using information stolen from the NSA and demanded payment from users, rendering their computers and networks inoperable without a ransom payment. The problems with these authentication methods, McDowell said, is that even the most stringent security systems can be beaten easily if left up to human error.

Authentication

Seon

JUNE 15, 2023

A BEC attack is when a fraudster gains unauthorized access to a business’s account. The most damaging form of BEC is account takeover (ATO) attacks. Let’s look at what business email compromise attacks are and explore some of the many ways you can combat them. What Is a Business Email Compromise Attack?

Email Compromise

PYMNTS

MAY 23, 2017

Whether it’s safeguarding sensitive personal and financial information from attacks like WannaCry or authenticating travelers at an airport, security is top of everyone’s mind these days. CLEAR, a security line-busting authentication system, recently received a $15 million investment from asset management firm T.

Authentication

PYMNTS

FEBRUARY 22, 2019

But the ease and speed that consumers demand when transacting online comes with risk, as merchants need to establish identity — in other words, being certain that customers are who they say they are — in a world where buyers and sellers may be continents apart. PSD2 is here, of course, changing the way consumers and companies access data.

Credential

PYMNTS

OCTOBER 14, 2020

The company prompts first-time site visitors to create accounts before they are able to browse specific items, which enables the eTailer to start learning which kinds of products interest each shopper, Akkineni said. Consumers also demand interesting and convenient shopping. Fighting fraud . Making shopping sticky .

Security

PYMNTS

MARCH 28, 2018

.” The impact of chargeback fraud and other transaction-related fraud — like account takeovers or payments fraud — on the bottom line is clear. While Sift initially launched as a chargeback fraud specialist, Lee recently told PYMNTS that market conditions have led customers to broaden their demands.

Security

The Fintech Times

JANUARY 22, 2024

Here Tom Randklev, global head of product at payment orchestration company CellPoint Digital , explores strategies for airlines to safeguard their revenue and combat fraud amid increasing travel demand. per cent of total global airline revenue – and accounting for 46 per cent of all online fraudulent transactions. per cent.

Payments

FICO

AUGUST 27, 2020

For the consumer, online shopping has become the norm, but so too has opening accounts digitally; even if you look at financial accounts where many would say there is a higher risk of loss. Remote working doesn’t only impact the organisation in terms of how it authenticates employees. Customer experience.

Authentication

PYMNTS

JULY 23, 2019

Boku, through Boku Identity, authenticates consumers using a device that is an intrinsic enabler of the trust: the mobile phone. Instead, we are primarily focused on helping to fix commercial problems that get in the way of doing business — using a cleaner, mobile-first method of authentication.”. Dynamic Vs. Static Authentication .

Authentication

FICO

MARCH 9, 2022

For consumers, the biggest concerns are falling victim to account takeover (26%), and ID theft (26%). Both bank and card providers have moved quickly to implement additional security measures that address fraudulent activity, namely in the form of new authentication methods. The impact on consumers has been twofold. Conclusion.

Fraud Prevention

PYMNTS

JULY 18, 2018

PSD2 is bringing higher transaction volume for banks, and more demand from consumers for mobile payments and quicker transactions. Criminals are always on the hunt for new opportunity. How exactly fraud attacks and fraud prevention will change in the post-PSD2 world remains unclear, but change is certain, according to observers.

Fraud Prevention

PYMNTS

JULY 12, 2019

Call centers have been using AI to meet this demand, obtain better customer insights, while strengthening their authentication methods and fraud protection strategies. According to the study, predicted losses due to account takeovers at call centers are set to reach $775 million by 2020. Fraud is no small matter.

Consumer

PYMNTS

JANUARY 31, 2020

He recently spoke with PYMNTS about what it takes to keep debit cards and their associated bank accounts safe from cybercriminals. . FIs have long been aware that relying on knowledge-based authentication (KBA) goes only so far. Consumers aged 18 to 22, meanwhile, relied equally on the two methods. . Holistic Security.

ATM

PYMNTS

OCTOBER 11, 2017

Byrnes said there are three primary types of fraud: stolen credit cards, account takeover and friendly fraud. Even if they list the tickets on StubHub for 50 percent off, they can still make hundreds of dollars off each ticket for certain in-demand events. Account takeover certainly isn’t new , but it is on the rise.

Crime

FICO

SEPTEMBER 8, 2022

In Asia, these technologies are being adopted by a rapidly growing middle class with increasing disposable income and a rising demand for financial services. Asian consumers are also becoming more aware of the efforts banks are making to protect them against crimes such as identity theft, account takeover and card fraud.

Posting

PYMNTS

SEPTEMBER 25, 2019

As Ritter noted, email accounts are the first avenues of attack for fraudsters. Gaining access to email gives bad actors an entry point for account takeovers. They can intercept requests for password changes, effectively freeze legitimate users out of their own accounts, and then drain funds.

Economy

Seon

JUNE 24, 2024

Credit card fraud accounted for 34% of these statistics, indicating fraud’s pervasive and industry-agnostic nature. Cybercriminals often employ sophisticated tactics, such as synthetic identities, account takeovers (ATOs) and exploiting unsuspecting individuals through socially engineered schemes.

Risk Management

PYMNTS

NOVEMBER 20, 2019

Restaurants cite high costs and lack of demand for not offering first-party ordering, and many make up for this by employing third-party services. percent year over year (YoY), accounting for 18.3 Developments From Around the Mobile Order-Ahead World. Mexican QSR Chipotle is one chain that is seeing dividends from mobile order-ahead.

Account Takeovers

The Fintech Times

MARCH 18, 2024

These malicious scammers are growing in number and refining their strategies, employing ever more sophisticated methods, including account takeovers, synthetic identity fraud, and social engineering scams. In the UK alone, fraudsters syphoned off £1.2billion in 2022, with almost 80 per cent of app fraud cases starting online.

Fraud Prevention

PYMNTS

APRIL 26, 2017

It also utilizes a Segment-of-One approach, which entails tracking transactions that occur on the company’s network and using that data to verify the authenticity of consumer identities and their transactions. After its launch in 2011, HiGear, a San Francisco, Calif.–based Then suddenly, it hit a wall.

AI

PYMNTS

SEPTEMBER 1, 2017

Fraudsters can spoof numbers and social engineer the call to access sensitive medical records and other personal identifying data that they can use for account takeover, identity theft or synthetic identity construction. You need to be ready to receive your customer service requests across all the different channels that they demand.”.

Identity Theft

The Fintech Times

MAY 22, 2024

The report found that card ID theft increased, with losses up 53 per cent to £79.1million, as many criminals reverted to stealing ID and falsely applying for new credit cards or account takeovers, were they not able to trick someone through APP. Furthermore, of those impacted by unauthorised fraud, 98 per cent were fully refunded.

Scams

FICO

JUNE 4, 2018

In an unauthorized push payment fraud scenario, when the fraudster makes the payment; transactions would likely be made from a device not typically used by the legitimate account holder, and the funds would likely go to a strange beneficiary account. Phishing, Smishing, Hypnofraud and More. Push Payment Fraud Is on the Rise.

Demand Deposit Account (DDA)

Fintech Labs Insights

AUGUST 22, 2024

SESAMm: Raised $55M, analyzes sentiment from online data for finance, growth driven by strong demand in fintech analytics. Autobooks: Raised $98M, small-business accounting software, increasingly integrated by banks, showing strong growth. Fast-forward 17 years, and there have been 320 Best of Show trophies handed out.

Online and Mobile Banking

The Payments Association

JANUARY 14, 2025

Strong customer authentication (SCA), frictionless user experiences, and regulatory oversight were among the focal points as experts dissected the existing risks and potential remedies for open banking fraud. The industry must collaborate on fraud prevention, enhance data sharing, and align regulatory frameworks with innovation.

Fraud Prevention