M2P Fintech

MARCH 24, 2025

Today, adoption of digital solutions streamlined many aspects of the lending ecosystem, from automation of routine tasks to digitalization of verifications, significantly reducing approval times. For instance, the increase in use of digital and automated processes is likely to continue. With the market projected to soar to $ 71.8

Payment APIs and Integration

The Fintech Times

MARCH 30, 2025

A lot of the class participants are working on architecture that employs AI agents to orchestrate and automate complex business workflows to enhance productivity, decision-making, and overall operational efficiency.

Innovation

Finovate

APRIL 15, 2025

Illuma IllumaShield by Illuma streamlines caller verification with a frictionless voice biometrics authentication solution that protects against account takeovers. Features Layerup’s Voice AI agents help automate inbound and outbound calls for financial institutions. Who’s it for? Banks and credit unions.

Credit Union

Bank Automation

NOVEMBER 21, 2023

Account takeovers using stolen credentials and related financial crime increased by 354% year over year in the second quarter, according to the September “Q3 2023 digital trust and safety index” report by […]

Account Takeovers

FICO

MARCH 22, 2022

Account takeover fraud (ATO) occurs when an unauthorized person takes control of an account. The fraudster takes steps to actively control the account, for example by applying for a new card or changing the account contact information or password. How Can Financial Institutions Tackle Account Takeover Fraud?

Account Takeovers

Seon

JANUARY 29, 2024

In this guide, we’ll see why accounts are targeted, how fraudsters acquire them, and, of course, which steps you should take to secure them. This is your complete guide to understanding and detecting account takeover (ATO) fraud in your business. What Is Account Takeover Fraud?

Account Takeovers

Fintech News

SEPTEMBER 22, 2024

In 2023, the financial services industry continued to sustain the most automated bot attacks, with 1.8 Automated bot attacks remained stable in 2023 compared with the previous year, though the targets shifted. billion attacks, representing half of the global total of 3.5 Despite this high volume. of all cases.

Accounts

PYMNTS

APRIL 21, 2020

For bigger scores like financial institutions (FIs) and online merchants, scammers are using ransomware, account takeovers (ATO), phishing and other malicious means to shake down companies already reeling from disruptions. Foiling AP fraud may be tricky, but automation systems can bring payments security to the next level.”.

Scams

PYMNTS

MARCH 14, 2020

percent of all eCommerce fraud , is still account takeover. Here’s how it works: When a fraudster finds or steals user credentials, they enter the account, change their settings (like email and phone number) and lock out the user. Next, the fraudster essentially takes over the account and purchases from the site.

Account Takeovers

PYMNTS

AUGUST 27, 2020

Tens of thousands of stolen Fortnite accounts are being sold on the black market in a $1 billion a year trade, according to Bloomberg. It found that criminals are using automated tools to mass-check for Fortnite accounts from hordes of stolen identities from recent data breaches.

Accounts

PYMNTS

SEPTEMBER 24, 2019

One of the biggest problems, Blanco said, is account takeover. . Account takeover, which involves the targeting of financial institution customer accounts to gain unauthorized access to funds, is an extremely common cybercrime affecting U.S. financial institutions,” he said.

Fincen

Nanonets

MARCH 30, 2023

Enter payment automation - a solution that has gained popularity in recent times due to the pandemic and the new competitive landscape. By automating the payment process, businesses and individuals can save time and minimize the risk of errors. What is Payment Automation? How does payment automation work?

Automation

Fintech Finance

AUGUST 2, 2024

Pre-Payment Security : Device fingerprinting, biometric authentication, and real-time monitoring to prevent identity fraud and account takeover. As your customer risk profile changes with each transaction, the only way to stay truly vigilant is through automated reassessments. Faisal I. ,

Instant Payments

FICO

FEBRUARY 19, 2020

The Clearing House Association’s RTP as well as The Automated Clearing House offer same day clearing and the Federal Reserve is looking to launch instant payments with their FedNow scheme in 2023. Account Takeover Fraud. US payment schemes operate in a uniquely competitive environment.

Real Time Payments

PYMNTS

OCTOBER 28, 2019

Identity verification solutions provider GIACT Systems has announced the launch of an automated identity monitoring service called gIDENTIFY Persistent Monitoring, the company announced in a press release on Monday (Oct.

Automation

PYMNTS

NOVEMBER 16, 2016

And as always, technology is flexible, and with the continued evolution of automation, so too has fraud become automated in a fashion, with increasing adoption of botnets and the targeting of consumers’ passwords to help fraud attempts. The increase in the attack rate “will grow through the next year as well,” said Reitblat.

Account Takeovers

The Payments Association

DECEMBER 11, 2024

These tools enable criminals to automate complex fraud schemes, allowing even less experienced criminals to execute significant scams with precision. Among the top threats are account takeover (ATO), chargeback fraud and more complex schemes like money laundering, which use sophisticated methods to disguise illegal financial flows.

Fraud Prevention

PYMNTS

SEPTEMBER 29, 2016

“We have been focused on protecting the world’s largest companies and government agencies against automated attacks,” according to Shuman Ghosemajumder , Shape Security’s CTO. At the moment that attackers are coming in and testing those credentials, we can actually stop them from being successful.”.

Credential

PYMNTS

AUGUST 29, 2019

Other developers are leveraging various automation systems, which combat fraud by reducing the opportunities humans have to disrupt the system and increasing the digital payments’ transparency. Account takeovers (ATOs), identity theft and phishing were found to be the most common methods of attack in this region.

Account Takeovers

PYMNTS

SEPTEMBER 17, 2019

Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses.

Online and Mobile Banking

PYMNTS

DECEMBER 2, 2019

People are really competing with automated infrastructure and bots to get hot holiday items.”. Even more damaging, they can break into shoppers’ accounts and steal card numbers, rewards, digital currency and personal data. The bots can quickly buy limited-sale items and resell them for a premium on third-party sites.

Bots

Fintech Finance

MAY 22, 2024

A key component of this growth in attacks was fraudsters’ focus on account takeover of ecommerce accounts, with the attack rate at login reaching 3.3% (an increase of 119% YOY). The volume of human-initiated attacks surged 80% YOY, resulting in an attack rate of 2.8% (up by 59% YOY).

Account Takeovers

Finovate

OCTOBER 24, 2024

The acquisition will enable Socure to enhance fraud prevention, automate identity verification, and manage risk across onboarding, authentication, payments, account changes, and more. Using Effectiv’s technology, firms can combat identity theft, account takeover, scams, and real-time payment fraud.

Risk

The Fintech Times

DECEMBER 18, 2023

“A similarly damaging trend is account takeovers (ATOs) where a bad actor gains access and takes over an online account using stolen or hacked credentials. When you think about it, it’s the high-tech version of social engineering.

Cybersecurity

Finovate

JUNE 10, 2024

The capital will be used to expand the company’s solutions to help businesses investigate and defend themselves against cybercrime in general and account takeover fraud in specific. SpyCloud specializes in helping firms combat account takeover.

Account Takeovers

PYMNTS

AUGUST 21, 2020

Axle offers cash flow management solutions to freight and logistics companies through a combination of financing and back-office automation solutions to help industry players manage cash flow through supply chains.

B2B

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. financial institutions, according to estimates by Aite, will spend as much as $781 million to battle credit application fraud in 2022. alone topped $10.2 billion last year.

Identity Theft

PYMNTS

SEPTEMBER 17, 2020

Sharing economy businesses looking to keep their guests safe must deter data breaches that continually threaten organizations and can allow cybercriminals to steal usernames and passwords to access accounts. Other account takeover (ATO) schemes involve bots, which can conduct some 100 hits per second.

Verification

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

PYMNTS

AUGUST 19, 2019

In the latest Mobile Order-Ahead Tracker , PYMNTS explores the latest developments in the world of QSR rewards programs and how credential stuffing and account takeovers are plaguing the industry. When you’re looking at account takeovers, for example, it’s predominantly automated bot attacks that have an identifiable signature.

Account Takeovers

PYMNTS

FEBRUARY 26, 2020

When you’re looking at account takeovers, for example, it’s predominantly automated bot attacks that have an identifiable signature,” Curt Garner , Chipotle’s chief technical officer, explained in an interview with PYMNTS. “As Mexican QSR Chipotle is another mobile order-ahead player leveraging AI for security.

Credential

PYMNTS

DECEMBER 2, 2019

People are really competing with automated infrastructure and bots to get hot holiday items.”. Even more damaging, they can break into shoppers’ accounts and steal card numbers, rewards, digital currency and personal data. The bots can quickly buy limited-sale items and resell them for a premium on third-party sites.

Bots

PYMNTS

MAY 4, 2020

Banks must stay ahead of the criminals and are redesigning their fraud decisioning approaches to more quickly detect account takeovers without accidentally flagging genuine customers as fraudsters. Get the scoop in the Playbook. About The Playbook.

Online and Mobile Banking

PYMNTS

JANUARY 27, 2020

This month’s Deep Dive examines how the right automation tools and strategic approaches can help PSPs keep up with current and emerging challenges. Automated data collection tools can improve KYC efforts’ accuracy, enabling PSPs to gather necessary identity verification details without time-consuming, error-prone manual processes.

AML

PYMNTS

NOVEMBER 25, 2016

We’ve been talking about this regardless of the holiday season, about fraudsters automating the retrieval of the stolen data, the execution of the fraud and the selling of the goods that they acquire. That sets the stage for account takeover situations, said the executive.

Fraud Prevention

PYMNTS

MARCH 20, 2020

The monthly Merchant Fraud Decisioning Playbook , a PYMNTS and Simility collaboration, highlights how eCommerce merchants, financial institutions and other businesses are embracing fraud decisioning solutions to reduce chargebacks and account takeovers, thereby enabling secure and seamless experiences for legitimate users.

Fraud Prevention

Stax

NOVEMBER 11, 2024

ACH transfers, or payments made through the Automated Clearing House network, account for billions of dollars in payments annually. The average consumer commonly uses the ACH network for automated bill payments and larger transactions. The same study indicates a 72% increase in account takeover since 2019.

ACH