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US Mobile Adopts Digital Identity Protocols To Protect Against SIM Swap Fraud

PYMNTS

Multifactor authentication (MFA) and biometric scans are quickly becoming the norm in numerous fields, including online accounts for banks and other businesses. The telecommunications industry is but one of many sectors looking to more securely verify customers and avoid fraud, which remains a growing problem. About The Tracker.

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Paving Mobile Banking’s Path To Success

PYMNTS

In banking, the customer journey, of course, begins with the first steps involved in setting up a relationship — offering up names, addresses, Social Security numbers (SSNs) and a wealth of other data to set up accounts. An online customer experience is the key metric that drives new customer acquisition and retention. “We

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Banking Apps Shun Geolocation Data; Why Fraud Risks Could Follow

PYMNTS

At a time when 80 percent of apps ask for (and are usually given) users’ geolocation data, the fact that most mobile banking applications still don’t is unacceptable, GeoGuard CEO David Briggs told Karen Webster in an interview. Two-thirds of all banking apps don't ask for location at all,” Briggs said.

Risk 93
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New Report: How Behavioral Analytics Help FIs Block Fraud At The ITM

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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.

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Fidor: How Cloud-Based Banking Helps With Compliance

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Consumers moved to digital banking in droves during the early months of the COVID-19 pandemic — it appears they are not moving back. Consumers pivoting to online banking are also more concerned over the privacy and security of their data, especially as fraud volumes creep up —and financial regulators are taking notice.

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Creating An ‘Anchor Of Trust’ In The Battle Against CNP Fraud

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Those less tech-savvy individuals represent juicy targets for fraudsters, who have been fine-tuning card-not-present (CNP) schemes to work across all manner of channels during the pandemic as we wield smartphones to make transactions or bank over the phone. All is not lost, of course, for the banks that want to protect their customers.

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Brazil Upgrades Real Time Payments Rails, Goes Live With PIX

PYMNTS

The country’s banking system is giving an upgrade to its instant payments system. Kavakama points to the fact that the country’s central bank has mandated that first-tier banks connect to PIX. In order to transact through the system, users need to register "keys" with their bank or fintech. Case in point: Brazil.