PYMNTS

SEPTEMBER 22, 2020

This week's look at the latest in open banking initiatives shows creativity in how FinTechs, credit unions (CUs) and banks wield data integrations for the benefit of corporate end users, from streamlined credit underwriting to automated expense management. Purdue Federal Credit Union, Payrailz Collaborate.

Use Case 110

Use Case Payment APIs and Integration Credit Union FinTech 110

PYMNTS

JULY 10, 2020

Ryan Leblond , manager of fraud prevention and investigations at ESL Federal Credit Union , explained these key strategies in a recent PYMNTS interview. Fighting Username And Password Theft. Bad actors often initiate their ATOs by trying to trick potential victims into revealing their bank login information.

Multifactor Authentication 53

Multifactor Authentication Authentication Credit Union Fraud Prevention 53

PYMNTS

OCTOBER 16, 2020

Financial crime is a constant worry for banks, credit unions, FinTechs and other financial institutions (FIs) and businesses, with total fraud losses totaling $1.45 In this month’s Deep Dive, PYMNTS explores the cybercrime methods these apps face as well as how they are deploying multifactor authentication (MFA) to protect app users.

Zelle 89

Zelle P2P Scams Multifactor Authentication 89

PYMNTS

SEPTEMBER 21, 2020

And in one recent edition of PYMNTS’ KYC/AML Tracker details, the rise of open banking is likely to spur a “fast track” for new AML efforts, including multifactor authentication (MFA) and strong customer authentication (SCA) processes.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) SARS 139

PYMNTS

AUGUST 16, 2018

PSD2 sets out the requirements for SCA, an identity verification procedure that leverages multifactor authentication. SCA pulls in factors such as ownership (i.e., the transaction is coming from a device that is recognized as belonging to the consumer) and inherent traits (biometric identifiers like fingerprints and retinas).

Mobile Payments 51

Mobile Payments Multifactor Authentication Authentication Payments 51

PYMNTS

JUNE 8, 2020

Banks and credit unions (CUs) can get ahead of these attacks by warning customers about such trickery and reminding them that no legitimate third-party provider would need bank login details. Best efforts to thwart phishing include communicating clearly and frequently with customers about new scams as they are discovered.

Authentication 60

Authentication MFA Phishing Scams 60