PYMNTS

JULY 15, 2020

The July 2020 Mobile Order-Ahead Tracker® done in collaboration with Kount shows that online orders are positively booming, but not all of that activity is good. New digital account openings have climbed in parallel with incidents of cybercrime as consumers have migrated to shopping primarily online during the COVID-19 pandemic. “New

Online and Mobile Banking 60

Online and Mobile Banking Account Takeovers Accounts On-Demand 60

PYMNTS

SEPTEMBER 15, 2020

Emerging markets have their own challenges when it comes to banking, where big, traditional financial institutions (FIs) are anything but efficient. It’s been 20 months, and we tried to get a debit card from some of the largest banks. The world doesn’t need another bank,” Poovala told Webster. Widening Debit’s Acceptance.

Debit Card 103

Debit Card FinTech Online and Mobile Banking Account Takeovers 103

PYMNTS

AUGUST 21, 2020

Digital banking is reaching unprecedented levels of popularity amid the pandemic, with 89 percent of American bank customers using mobile banking apps to manage their savings and checking accounts. Developments From Around The World Of Digital-First Banking. billion by 2024. billion by 2024.

Blocks 106

Blocks Identity Theft ATM Online and Mobile Banking 106

PYMNTS

OCTOBER 16, 2020

Customers now anticipate rewards, mobile integration, spend-management offerings — and that transactions that feel immediate and seamless regardless of marketplace or platform. Revolut Likely To Apply For US Bank Charter. Revolut , the European digital bank, is reportedly near applying for a U.S. banking license.

Instant Payments 95

Instant Payments Card Issuer Online and Mobile Banking Federal Reserve 95

FICO

NOVEMBER 24, 2020

UK Finance reports over £27 million was lost to fraud at online marketplaces and auction websites in the first half of 2020. Payment card fraud, identity theft , account takeover and digital payment fraud have all increased significantly since March 2020. In this instance, banks will not always foot the bill for damages. .

Identity Theft 98

Identity Theft Scams Online and Mobile Banking Account Takeovers 98

FICO

AUGUST 24, 2020

This week’s reveal: prior to March 2020, I had never used the mobile deposit feature of the banking app on my phone. 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 deposits are so easy!”.

Online and Mobile Banking 52

Online and Mobile Banking Mobile Deposit Funds Availability Contactless Payments 52

PYMNTS

DECEMBER 16, 2020

And then, after the transaction is made, there’s the task of understanding the byzantine codes and data that are tied to online statements. The “language” of the statements may represent a Rosetta Stone of sorts for the 110 million consumers who have pivoted online in the wake of the pandemic.

Disputes 91

Disputes Transactions Issuers Online and Mobile Banking 91

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

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

PYMNTS

MAY 5, 2020

In the age of the coronavirus, everyone is conducting all facets of daily life – commerce, banking, schooling, working – from home. Mobile transactions have become the latest opportunity for fraudsters,” he said. Mobile transactions have become the latest opportunity for fraudsters,” he said.

Fraud Detection 78

Fraud Detection Online and Mobile Banking Scams Issuers 78

PYMNTS

MAY 4, 2020

Customers and merchants rely on their banks and credit unions (CUs) to ensure they have secure, convenient online transactions, and many FIs work to detect fraud by looking for abnormal purchasing behaviors that could indicate something is amiss. Financial institutions (FIs) face tough decisions when trying to keep their clients safe.

Online and Mobile Banking 79

Online and Mobile Banking Credit Union Breach Data Breach 79

PYMNTS

OCTOBER 11, 2017

lags behind other countries that have already adopted EMV card standards (so far, there are around 80 in total), it is only just beginning to see what those 80 other countries have already realized: As commerce moves online, so does crime. Digital goods and online markets are still in their early days, believe it or not. Since the U.S.

Crime 44

Crime Account Takeovers eWallet Online and Mobile Banking 44

PYMNTS

NOVEMBER 4, 2019

From counterfeiting to identity theft to phishing attacks, digital fraud takes many forms — and online shopping continues to make consumers and merchants vulnerable to such attacks. The rise of mobile commerce and selling of digital goods has added to retailers’ fraud problems. By its measures, merchants pay $3.13 last year, a 6.5

Online and Mobile Banking 49

Online and Mobile Banking Cross-Border Federal Trade Commission Fraud Prevention 49

PYMNTS

JULY 21, 2020

In a deal expected to create the world’s largest online classifieds company, eBay Inc. has agreed to sell its ad division to Adevinta ASA, the Norwegian online marketplace, for $9.2 Ant Group, the online payments division arm of Alibaba Group Holding Ltd., New Report: Mercado Pago On How Mobile Bridges The LatAm Banking Gap.

Consumer Financial Protection Bureau (CFPB) 56

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

PYMNTS

APRIL 15, 2020

Banks are adapting to the risk management realities and complexities, while also evolving in real time toward a demanding future. For some consumers, the closure of bank branches may not feel like a terribly big deal, because they’d already converted so much of their activity to mobile. Powering A Fast Pivot.

Online and Mobile Banking 80

Online and Mobile Banking Scams Bots Risk Management 80

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

FEBRUARY 18, 2020

Increasingly, fraudsters are striking at the very beginning of customers’ relationships with banks and credit unions (CUs), focusing their efforts on account takeovers and new account fraud. There are new data privacy concerns, too.”. Traditional FIs, he said, have been wary of disintermediation by FinTechs.

Fraud Prevention 66

Fraud Prevention Account Takeovers Online and Mobile Banking P2P 66

PYMNTS

APRIL 14, 2017

The result of that effort is the company’s inaugural DataVisor Online Fraud Report, which analyzed more than 1 billion use4 accounts and 50 million malicious accounts to gain insights into what really makes fraudsters today tick. PYMNTS: What was the motivation behind starting the DataVisor Online Fraud report?

Account Takeovers 44

Account Takeovers Online and Mobile Banking Credential Compromise 44

PYMNTS

MARCH 10, 2020

The conversation came against a backdrop where, at the end of February, Fiserv said that nearly 600 banks and credit unions (CUs) have joined the turnkey service from Zelle to enable person-to-person (P2P) payment capabilities, and that the number of participants accessing the network via Fiserv has increased ten-fold in 2019 from 2018.

P2P 92

P2P Real Time Payments Zelle Credit Union 92

The Fintech Times

APRIL 22, 2024

Security is failing to keep pace with smartphone utilisation with compromised digital wallets and banking apps leading to growing identity threats, a report has revealed. 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.

Identity Theft 59

Identity Theft Consumer Online and Mobile Banking Monetary Loss 59

Fintech Finance

FEBRUARY 29, 2024

Socure , the leading provider of artificial intelligence for digital identity verification, sanction screening and fraud prevention, and Trustly , a leading global Open Banking payments provider, today announced an industry-first partnership to offer merchants and fintechs a streamlined onboarding and guaranteed Pay by Bank solution.

Fraud Prevention 52

Fraud Prevention Process Online and Mobile Banking FinTech 52

PYMNTS

FEBRUARY 14, 2020

Although fraud losses from banks, retailers and online platforms have continued into 2020, so has security innovation. That means protecting both mobile and online purchases as well as finding ways to better identify legitimate customers as fraud becomes more sophisticated.

Online and Mobile Banking 60

Online and Mobile Banking Fraud Prevention Authentication Account Takeovers 60

PYMNTS

FEBRUARY 28, 2017

It’s already been a big year for biometrics, and with everyone from big banks to major retailers investing in the technology, that trend is unlikely to subside any time soon. . The platform is designed to help retailers combat an uptick in online retail fraud, caused largely by ineffective or stolen password credentials.

Account Takeovers 43

Account Takeovers Online and Mobile Banking Authentication Credential 43

PYMNTS

JUNE 11, 2019

owning laptops and 91 percent owning mobile devices, there’s never been greater opportunity for digital fraud. One of the most insidious forms of fraud is account takeovers (ATOs). Fraudsters cause the banking industry $31 billion in losses annually, a number expected to only increase in the coming years.

AI 60

AI Account Takeovers Online and Mobile Banking Authentication 60

PYMNTS

APRIL 22, 2020

Banks are jostling for space in the market because an expanding number of FinTechs and large-scale technology companies are competing for the same set of consumers. Banks must enable fast and seamless onboarding experiences, but these processes should also be secure.

Security 53

Security Online and Mobile Banking Authentication Account Takeovers 53

PYMNTS

JANUARY 24, 2019

Online shopping network ShopRunner has had a big week. ” In addition, ShopRunner announced it has acquired Precognitive , a solution that combines device intelligence, advanced behavioral analytics, and a real-time decision engine to enable companies to more accurately identify online fraud. ”

Acquirers 51

Acquirers Account Takeovers Online and Mobile Banking On-Demand 51

FICO

MARCH 9, 2022

The last few years have thrown up many challenges for banks and card providers as everything has shifted online, one of the primary challenges being fraud scams. But the online shift has also created opportunities for financial institutions to demonstrate their strong fraud controls in the digital space.

Fraud Prevention 59

Fraud Prevention Scams Online and Mobile Banking Account Takeovers 59

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. Determined fraudsters can find many of these answers online, and some consumers find filling out such details to be tedious. Understanding ATOs.

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. How can banks deliver unified experiences across multiple channels, with the right amount of friction, to navigate the fine line between fraud reduction and customer experience?

Online and Mobile Banking 52

Online and Mobile Banking Authentication Identity Theft Account Takeovers 52

PYMNTS

JUNE 13, 2019

One of the latest involves hackers successfully accomplishing account takeovers (ATOs) of users of Zelle, the digital payment service. trillion in 2018, and fraudulent mobile app transactions increased 680 percent between 2015 and 2018. The rise of online banking has provided a host of opportunities for fraudsters.

AI 44

AI Account Takeovers Fraud Detection Online and Mobile Banking 44

PYMNTS

MAY 20, 2020

For merchants and financial institutions (FIs), the “new normal” of commerce — done increasingly online — means that battling fraud is a bit like feeling an elephant. We’re transacting across mobile phones, tablets and laptops, buying everything from toilet paper to meat, and having goods delivered to our doorsteps. Permanently.

Issuers 83

Issuers Fraud Prevention Online and Mobile Banking Rules 83

Seon

MAY 8, 2024

With new tools like private browsing, VPNs and anti-tracking settings to further complicate the prevention and detection of fraud, bad actors are more adept than ever at concealing their identities and intentions online. What is Device Intelligence?

Online and Mobile Banking 52

Online and Mobile Banking Fraud Prevention Account Takeovers Bots 52

PYMNTS

NOVEMBER 19, 2019

The fact that fraud is on the rise is not new, nor is it surprising that banks are turning to artificial intelligence (AI) and machine learning to fight back. In the latest Digital Banking Tracker , PYMNTS looks at how banks are currently approaching their use of AI and machine learning in fraud protection and technology innovation.

AI 43

AI Online and Mobile Banking Account Takeovers Innovation 43

PYMNTS

SEPTEMBER 25, 2019

Today, the most bare bones of information is required to establish identity in the digital economy — usually an email, some other personal identifiers and bank account numbers — and commerce is off and running. As Ritter noted, email accounts are the first avenues of attack for fraudsters.

Economy 75

Economy Verification Online and Mobile Banking Security 75

PYMNTS

JUNE 21, 2019

percent of customers reported that having a mobile app is “very” or “extremely” important to them in terms of their CUs’ offerings. The customer isn’t just looking for a slick app on mobile devices, over the phone, at a branch on a desktop or at an ATM. The challenge lies in the “how.”

Credit Union 65

Credit Union FinTech Online and Mobile Banking ATM 65

Seon

JUNE 21, 2023

This includes online storefronts, online banking to manage their funds digitally, and, naturally, digital payment options, including virtual credit cards (VCCs). The nature of virtual credit cards being entirely online and often mobile offers user convenience, but also an entirely new attack surface for fraudsters.

Credit Cards 52

Credit Cards Risk Online and Mobile Banking Phishing 52

FICO

AUGUST 26, 2021

It’s a question FICO’s fraud head honcho, TJ Horan, pondered back in 2016 , when the nascent real-time person-to-person (P2P) payments service Zelle was relaunched by a small consortium of banks (see below). In August 2019 The Federal Reserve Board announced that the Federal Reserve banks were developing a real-time payments rail: FedNow.

Real Time Payments 52

Real Time Payments Zelle Federal Reserve Wire Transfer 52