PYMNTS

FEBRUARY 28, 2017

Meanwhile, biometric technology helped Kuwait’s Gulf Bank pick up a pair of trophies at the World Finance Awards last month,where the bank was recognized with the Best Digital Bank and Best Mobile Banking App awards. Who’s winning the account takeover battle?

Account Takeovers 43

Account Takeovers Online and Mobile Banking Authentication Credential 43

PYMNTS

JULY 21, 2020

Fraudsters also frequently target mobile banking apps, and these types of attacks are also expected to be on the rise in the coming months, according to the FBI. How Radius Bank Leverages Cooperative Threat Intelligence For Fraud Prevention. Developments Around The Financial Crimes Space.

Crime 66

Crime Financial Crimes FBI Cybersecurity 66

The Fintech Times

APRIL 22, 2024

Its research reveals that 78 per cent use their smartphones for mobile banking, 85 per cent for accessing email, 71 per cent for managing social media and 51 per cent. Despite company efforts, lax PIN hygiene and open apps on stolen devices pose serious threats, including account takeover and ransomware attacks.

Identity Theft 59

Identity Theft Consumer Online and Mobile Banking Monetary Loss 59

PYMNTS

JULY 21, 2020

New Report: Mercado Pago On How Mobile Bridges The LatAm Banking Gap. There’s a growing appetite for mobile banking services in Latin America, where nearly 50 percent of the population is unbanked. Radius Bank: Becoming Partners In Crime Prevention Can Help FIs Beat Fraud Rings. Call it the great tug-of-war.

Consumer Financial Protection Bureau (CFPB) 56

Consumer Financial Protection Bureau (CFPB) CFPB Online and Mobile Banking FinTech 56

The Fintech Times

DECEMBER 21, 2023

. “By enabling instant and secure money transfers between banks and individuals, FedNow aims to modernise and enable a more efficient US payment infrastructure. In 2024 I expect to see a surge in real-time transfers as more customers demand a seamless banking experience.”

Cross-Border Payments 115

Cross-Border Payments Cross-Border Online and Mobile Banking Payments 115

FICO

MAY 15, 2018

If those details get compromised, you’re a potential victim for account takeover. Keep track of your transactions, which is easier than ever with mobile banking apps that send you notifications and alerts. Check yourself before you wreck yourself.

IRS 63

IRS Data Breach Identity Theft Breach 63

The Paypers

DECEMBER 11, 2018

(The Paypers) ACI Worldwide has teamed up with BioCatch , a behavioural biometrics provider, to protect customers from online and mobile banking fraud such as account takeover.

Account Takeovers 28

Account Takeovers Online and Mobile Banking Mobile Banking Accounts 28

PYMNTS

APRIL 22, 2020

One of the most frustrating parts of any onboarding experience is the time it takes for customers to complete the process, even via channels designed for ease of use, like mobile banking apps. One recent report found that 40 percent of consumers abandoned applications on mobile banking apps because of the time involved to sign up.

Security 53

Security Online and Mobile Banking Authentication Account Takeovers 53

PYMNTS

OCTOBER 26, 2018

Maeder, co-founder of the Loyalty Fraud Prevention Association , a group that offers resources, information and best practices to companies with loyalty programs, digital fraudsters have been using account takeovers (ATOs) to target these offerings.

Fraud Prevention 57

Fraud Prevention Account Takeovers Authentication Accounts 57

PYMNTS

NOVEMBER 25, 2019

banks are losing more than $31 billion every year to fraud, including account takeover and new account application fraud. Each new generation of malware and Trojans is exponentially more sophisticated in evading detection to ensure a longer life of stealing personal and account information.

Account Takeovers 56

Account Takeovers Fraud Detection Encryption Regulations 56

FICO

AUGUST 24, 2020

Second, after I figured out how to use mobile deposit the first time, I asked myself, “Why did I ever go to the bank? Mobile deposits are so easy!”. Mobile banking and payments activity has surged globally since March 2020, driven by factors including temporary bank branch closures and a rise in contactless payments.

Online and Mobile Banking 52

Online and Mobile Banking Mobile Deposit Funds Availability Contactless Payments 52

PYMNTS

JULY 13, 2020

Account takeovers (ATOs) are a growing source of pain for financial institutions (FIs) and their customers, with losses from these attacks rising 164 percent in 2018. Customers using mobile banking apps might scan their fingerprints to confirm their identities, for example.

Credential 58

Credential Bots Authentication Online and Mobile Banking 58

FICO

JANUARY 11, 2021

Identity-based fraud takes many forms: application fraud , bust-out fraud , account takeover , synthetic identities and identity theft. The goals of a successful, comprehensive identity verification program include: Increase legitimate bookings of new accounts by reducing friction during the application through risk management tools.

Online and Mobile Banking 52

Online and Mobile Banking Authentication Identity Theft Account Takeovers 52

PYMNTS

SEPTEMBER 5, 2019

Fraud protection has never been taken lightly by call centers, but the need for stricter authentication is reaching new levels in the face of automated bot attacks and near-daily account takeover (ATO) attempts.

MFA 46

MFA Multifactor Authentication AI Authentication 46

BioCatch

DECEMBER 27, 2023

When banks think of transaction authentication, they look at obtaining confirmation from the customer through an alternate channel.

Payment Security 52

Payment Security Security Payee Authentication 52

FICO

AUGUST 26, 2021

From my mobile banking app, I can even initiate a wire transfer, which in days past was reserved for making large purchases (like a house) or sending money abroad. My point is that checking accounts are now a mini clearing house for all manner of inflows and outflows.

Real Time Payments 52

Real Time Payments Zelle Federal Reserve Wire Transfer 52

PYMNTS

JANUARY 19, 2021

In financial services, in the eternal war to keep customers (and themselves) safe from online fraudsters, banks may lift a mantra from the real estate sector: It’s all about location, location, location. Geolocation services are proving to be a powerful weapon against phishing attempts, account takeovers and other schemes.

Online and Mobile Banking 90

Online and Mobile Banking Scams Addressing Account Takeovers 90

FICO

JULY 28, 2021

From my mobile banking app, I can even initiate a wire transfer, which in days past was reserved for making large purchases (like a house) or sending money abroad. My point is that checking accounts are now a mini clearing house for all manner of inflows and outflows.

NACHA 52

NACHA ACH Scams Account Validation 52

PYMNTS

OCTOBER 11, 2018

The challenge, Fagan noted, is keeping up that high level of consumer satisfaction in the digital age, as consumers now expect a certain level of service when it comes to mobile banking, payments, and loyalty or security. The expectations are high, he said, and the margins for error are slim.

Credit Union 56

Credit Union Fraud Detection Online and Mobile Banking Account Takeovers 56

PYMNTS

NOVEMBER 16, 2018

Even so, it doesn’t veer too much toward the illusionary and nostalgic to submit the proposition that banking, and other financial services , used to be much more personalized — much more one on one — than is the case now. In fact, AI “is all about personalization,” he told Webster.

AI 43

AI Fraud Prevention Online and Mobile Banking Money Laundering 43

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.

Scams 59

Scams Finance Push-to-Card Romance Scams 59

Fintech Labs Insights

AUGUST 22, 2024

Sensibill (acquired by Q2): Raised $57M, receipt management and spending insights, expanded into new banking partnerships. Spycloud : Raised $169M, cybersecurity firm focusing on preventing account takeovers, broadened offerings. FINANTEQ: Mobile banking solutions, added new clients across Europe.

Online and Mobile Banking 15

Online and Mobile Banking Acquirers Payment APIs and Integration AI 15

PYMNTS

AUGUST 5, 2019

Perhaps that’s why, in the midst of the seemingly never-ending stream of headlines about data breaches, account takeovers, stolen credit cards and online fraud , the notion of “check fraud” seems something of an outlier for the up-and-coming fraudster looking to make a decent living. And [check] fraud went through the roof.”.

Checks 65

Checks Instant Payments Online and Mobile Banking Irrevocability 65

FICO

MAY 19, 2020

This will result in more cases of account takeover during this time and for months ahead. As anti-fraud professionals, we should: Be aware of increased account takeover and customers susceptible to scams and help by educating our customers ( Here is some recent advice and tips for consumers ).

Account Takeovers 52

Account Takeovers Identity Theft Scams Online and Mobile Banking 52