FICO

JULY 27, 2020

As consumers, most of us still consider facial recognition the current state of the art for authentication. Here’s why it matters: Authentication is used for a lot more than unlocking your phone. To better protect these transactions from fraud, new biometric measures can now authenticate that it’s really you who’s using your phone.

Authentication

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. For more on these and other digital-first banking news items, download this month’s Tracker. billion by 2024.

Blocks

Stax

JULY 9, 2024

Fraud prevention measures, such as tokenization and multi-factor authentication, add layers of security to verify transactions and protect against unauthorized use of payment credentials. In most cases, mobile banking apps do not have the capability to transfer money between users that don’t share the same bank account.

Digital Payments

PYMNTS

AUGUST 22, 2019

And as all that happens, authentication and artificial intelligence are helping big digital players significantly up their game. 65 percent: Share of German customers who use one or more mobile banking apps. 55 percent: Estimated portion of consumers who will use bank branches by 2024. 75 percent: U.S.

Mobile Banking

PYMNTS

SEPTEMBER 21, 2016

According to recently released research from the American Bankers Association, mobile banking is becoming increasingly popular among consumers of young ages. Today, Alexa and Siri, because of authentication issues, largely aren’t there yet, but our virtual assistant, Eva, is.”. Around The Digital Banking World.

Mobile Banking

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. The FBI advises smartphone users to download apps only from official app stores and bank websites, as these are pre-screened for malware.

Crime

Fintech News

APRIL 22, 2024

of all mobile threats detected included mobile banking Trojans, highlighting the prevalence of these targeted attacks. So, when a mobile app is downloaded or launched, SecIron is able to compare the app’s signature to the signatures in its database. A 2023 report by Kaspersky found that 40.8%

Phishing

PYMNTS

MARCH 4, 2020

This rapid, digital payment method is expected to move B2B payments away from reliance on bank transfers and cash, accelerating the speed of transactions. For more on these and all the rest of the latest B2B API headlines, download the Tracker. How Banking APIs Help Businesses Pay Faster, Invest Better. About the Tracker.

API

PYMNTS

MARCH 24, 2020

Mobile banking apps are designed to make digital banking more convenient for customers, yet 21.7 This was just the first of many questions PYMNTS examined in the Consumer-Centric Authentication Playbook: The Path To Banking App Adoption Edition , in collaboration with Entersekt.

Authentication

PYMNTS

JUNE 15, 2016

Whether it’s Chime or other apps, millennials are increasingly turning to their mobile devices to keep track of their financial health. According to new research released by Halifax Savings, 80 percent of adults between the ages of 18 and 24 said they believe mobile banking services are an effective way of saving money.

Mobile Banking

PYMNTS

JUNE 6, 2016

The
 simplest thing to do arguably is the least secure, and similarly the most secure thing to do is a seven-factor authentication. The app also contains cutting-edge authentication technology, he said, that keeps users’ private information safe from digital threats. The digital authentication balancing act.

Authentication

PYMNTS

SEPTEMBER 23, 2016

Nine years after the introduction of the iPhone to the market — and the subsequent great mobile leap forward — the verdict is pretty much in on mobile banking applications: Consumers like it, verging on loving it, and are eager for more of it.

Mobile Banking

PYMNTS

SEPTEMBER 14, 2020

Failing to properly authenticate students could delay their enrollment and improper authentication during onboarding could also open up universities’ online portals to fraudsters. Georgetown University, for one, is augmenting its onboarding process via a mobile application that students are required to download onto their phones.

Online and Mobile Banking

PYMNTS

JUNE 26, 2020

Digital banking has become the new normal as social distancing guidelines and stay-at-home orders have drastically curbed financial institutions’ (FIs’) abilities to conduct in-branch services. Online account openings increased by more than 200 percent in April, while all mobile banking traffic rose by 85 percent.

Online and Mobile Banking

PYMNTS

DECEMBER 27, 2016

EyeVerify and Comarch are banking on biometrics when it comes to mobile security, as the two recently announced they would collaborate on payment-grade biometric authentication on mobile devices for both retail and corporate banking. Download the December 2016 Digital Identity Tracker™. About The Tracker.

Security

CB Insights

JUNE 5, 2019

Download the free report to get a break down of all the industries facial recognition is disrupting and how. In addition, the company filed a patent in 2018 that explores additional layers of authentication, including asking users to perform certain actions like “smile, blink, or tilt his or her head.”.

Technology

PYMNTS

MARCH 31, 2020

Digital and mobile banking may be more popular than ever, but it would be a mistake to count out the power of in-branch services just yet. Consumer surveys have found that 75 percent of financial institution (FI) customers place a great deal of importance on branch visits , with 70 percent visiting banks on a monthly basis or more.

Privacy

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. . To download the February edition of the Digital Identity Tracker, click the button below… . Who’s winning the account takeover battle?

Account Takeovers

PYMNTS

OCTOBER 18, 2019

It’s not a separate app to download or service to sign-up for — it works through the mobile banking app a user has. WHSmith is excited to launch Mastercard’s innovative new payment method, Pay by Bank app.

Visa

FICO

DECEMBER 5, 2022

million identity theft reports filed in 2021, many of which relate back to banks and lenders. At the same time, mobile banking, payment and money transfer apps are exploding in popularity, as 89% of respondents to a recent Insider Intelligence study use mobile banking, including 97% of Millennials.

Online and Mobile Banking

PYMNTS

DECEMBER 26, 2016

Here is the response from Sarah Clark, general manager, identity, Mitek … Payments 2016: The Year Mobile, Biometrics And Trust Converged. As payments continue their digital and mobile transformation, 2016 became the year that new methods of identity verification and authentication in the mobile channel became critical to success.

Authentication

PYMNTS

MARCH 14, 2017

New digital authentication tools are allowing India’s rural consumers to open bank accounts in the blink of an eye. As India moves to a cashless society, new digital banking tools — such as iris scanning technology — are being adopted by the nation’s banks to help verify customers’ identities. An Eye on Demonetization.

Authentication

PYMNTS

APRIL 18, 2017

From selfie authentication to finance tools that respond to emojis to computer-generated avatars that look and act like real people, new technological tools are giving digital banking a makeover. The April PYMNTS Digital Banking Tracker™ looks at the various ways technology is changing the digital banking landscape.

AI

Payment Savvy

DECEMBER 2, 2022

Whether you need to pay bills, exchange business cards, download coupons, or share a research paper, you can do it quickly and hassle-free with a single touch. How Do NFC Mobile Payments Work? Two-factor authentication as an additional layer of security. NFC payments add immense convenience for today’s busy customers.

Mobile Payments

PYMNTS

SEPTEMBER 29, 2017

For consumers looking for mobile banking options, there’s no shortage of solutions available in digital download stores alone. based, startup, digital and mobile financial firm Starling Bank, the answer has often involved trying to stay ahead in the crowded digital banking race. About the Tracker.

Payment APIs and Integration

PYMNTS

DECEMBER 20, 2017

That’s why PNC uses a combination of human security experts and authentication technology — enabled by artificial intelligence (AI) and machine learning — to protect funds and data against hackers. “We We have a combination of things that the bank is doing to help safeguard these new payment types,” Ward said. “I contact-form-7] .

AI

PYMNTS

NOVEMBER 30, 2017

Earlier this fall, the company powered its partnership with LG on their smartphones, and forged a partnership with Fujitsu to provide facial biometric authentication for Japan’s Mizuho Bank’s mobile banking app. Consumers like mobile banking , as scores of data points will attest.

Technology

PYMNTS

MAY 15, 2018

In a landscape that’s fast evolving to match the needs of tech-savvy customers, credit unions are innovating to compete with larger commercial banks and FinTech firms to attract and retain customers. Several credit unions and their partners are also rolling out solutions aimed at improving members’ mobile experiences.

Credit Union

PYMNTS

JANUARY 26, 2017

MobilePASS can be used when these professionals need to log into Citi’s digital banking platform, CitiDirect BE, for desktop, mobile and tablet. Traditionally, Citi explained in its release, users of its online banking tool were required to carry physical tokens that generate login passcodes as a means of authenticating the user.

Online and Mobile Banking

PYMNTS

JANUARY 25, 2017

According to a 2016 report from the United States Federal Reserve , more than 70 percent of adults have used online or mobile banking services in the past year. More people are embracing these new financial solutions each year, with mobile banking usage growing from 22 percent of adults in 2011 to 43 percent in 2015.

Online and Mobile Banking

PYMNTS

APRIL 19, 2018

Customer-facing integrations for AI technology aren’t the sole focus for OCBC’s AI Lab, according to Wong, and his team is also working to add a dose of intelligence to internal operations and bank processes. There are also a lot of fraudsters who are getting smarter and know what the banks are looking for when it comes to fraud.”.

AI

PYMNTS

MARCH 17, 2016

And they are finding ease in small increments – like removing clicks in individual payment transactions or enabling customers to add, modify and change payees through the bank’s mobile banking app, which are both examples of changes the bank has made and continues to refine. “If Ensuring easy transactions are secure.

Online and Mobile Banking

The Fintech Times

FEBRUARY 19, 2024

Beijing has also conducted a nationwide pilot scheme for e-yuan, also known as e-CNY , a digital currency, with more than 261 million people downloading the wallet in 2022. This heightens the level of scrutiny on businesses with the need for real-time fraud detection, safeguards against financial crime and different authentication methods.

Financial Inclusion

FICO

APRIL 7, 2022

Let customers use the channels they love to access other areas of the bank quickly. For example, customers can use touchID or faceID to authenticate when trying to start a conversation with an agent in telephone banking. Brian Moynihan, CEO of Bank of America. Vinski of IBM on humanizing the digital banking experience.

Security

PYMNTS

JULY 20, 2017

The same survey found these challenger banks outperform their conventional counterparts in customer loyalty and referrals as well. market where mobile banking activity is rapidly rising. consumers used banking apps last year, an 11 percent increase from the previous year. As more challenger banks arrive on the U.K.

Online and Mobile Banking

CB Insights

APRIL 10, 2019

Download the free report to get a break down of which industries facial recognition is disrupting and how. These actions can then be combined with “infrared image information, thermal imaging data, or other such information” for more robust authentication. GET THE entire 23-PAGE Facial recognition REPORT. Healthcare.

Law Enforcement

PYMNTS

MAY 21, 2016

And, if the success Santander UK is finding in an early in-app voice pilot is any indication, you can likely expect your banking to be voice-enabled in the near future as well. When Santander UK recently launched a voice assistant in its student-geared mobile banking app, SmartBank, it marked the first bank in the U.K.

Technology