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How important is a social media community in banking?

Abrigo

Much like the internet was once considered a fad, the same was said not so long ago about social media. The social network truly connects people. Clearly, those in the “social media is a fad” camp were mistaken. Which banks and credit unions are doing social media well?

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Fraud typologies all financial institutions should know

Abrigo

Connect with an expert Common fraud schemes Check fraud Check fraud is one of the most concerning fraud trends for community banks in 2025. Variations include: Pig butchering scams Scammers build relationships with victims through social media or dating apps, persuading them to invest in cryptocurrency or other financial opportunities.

Fraud 221
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Love and lies: How financial institutions can help prevent confidence scams

Abrigo

Fraudsters create fake profiles on dating apps and social media platforms, using stolen images and fabricated stories to build relationships with their targets. Verify the person's identity and use online tools to cross-check information. Staying on top of fraud is a full-time job.

Fraud 221
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Protecting customers from disaster fraud: What financial institutions need to know

Abrigo

Protecting customers from disaster fraud In the aftermath of hurricanes, wildfires, floods, and other natural disasters , vulnerable communities often see an uptick in disaster fraud schemes designed to steal personal information or relief funds from would-be donors. Staying on top of fraud is a full-time job.

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Deep Dive: Credit Unions Like And Subscribe To Social Media

PYMNTS

. Social media has become a cornerstone of everyday life over the last few decades, with 72 percent of Americans using social media today, a dramatic increase from the mere 5 percent that Pew Research Center first tracked in 2005. How credit unions leverage social media. million members and $106.1

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Casper Warns Social Media Celebs Could Pose Investment Risk

PYMNTS

mattress-in-a-box company Casper has underscored the increasing power of social media influencers to propel or hinder brands. Use of social media and influencers may materially and adversely affect our reputation,” the company said.

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Chinese Social Media Startup Seeks Funds At $6B Valuation

PYMNTS

Chinese eCommerce and social media startup Xiaohongshu , also known as “Little Red Book,” wants to raise funds at a $6 billion valuation, according to Bloomberg. It was started in 2013 as a community online that would recommend eCommerce sites outside of China.