Cards Knowledge Base Security 
PYMNTS
DECEMBER 31, 2020
Debit card issuers face an ever-growing array of fraud schemes perpetrated against them and their account holders. Effective card offerings require financial institutions (FIs) to quickly and accurately detect myriad forms of fraud, forcing them into a delicate balancing act. Security challenges are mounting, too.
PYMNTS
MARCH 27, 2020
First-party is the most common variant and sees fraudsters applying for loans or credit cards using their own details. They then take all the credit they possibly can after approval and convert it to cash by writing high-value checks or maxing out their credit cards. Preventing Application Fraud.
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PYMNTS
JUNE 16, 2019
Postal Service, the Social Security Administration, Veterans Affairs, and the Centers for Medicare and Medicaid Services, for example, ask questions of a new user and match their answers to information held in an individual’s credit file. For instance, not all applicants have cell phones,” the watchdog explained.
Perficient
NOVEMBER 19, 2020
When customers can apply for the Apple Card, for example , and receive approval and begin using it in minutes, patience with financial institutions that take longer will wear thin. Many banks continue to use knowledge-based authentication and out-of-wallet questions, which have challenges when customers have recently moved.
PYMNTS
AUGUST 21, 2020
Jim Cunha, senior vice president, secure payments and fintech at the Federal Reserve Bank of Boston , told Karen Webster the joint efforts between the Fed and MIT are focused on exploring the infrastructure that would underpin a CBDC — and, at the same time, will probe various use cases. But a race to a rollout is not in the cards.
PYMNTS
JANUARY 31, 2020
A 2018 survey found that 40 percent of American financial institution (FI) customers in this age bracket reported debit cards as their go-to payment instruments, while 36 percent favored credit cards. He recently spoke with PYMNTS about what it takes to keep debit cards and their associated bank accounts safe from cybercriminals. .
PYMNTS
APRIL 4, 2019
But on the whole, she noted, banks can greatly help their efforts in building and leveraging that trust simply by making more of what they do transparent to their customers when it comes to security. Banks need to expose more of their security aspects to consumers so they can seem them in action.
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