PYMNTS

MARCH 17, 2017

A classic image of payment fraud involves a fraudster stealing credit card numbers and shopping for goods in-person or online. Founded in 2011, Pindrop’s security solution was built to protect banks and other financial institutions from call center and voice fraud. While the roll-out of EMV in the U.S. at Georgia Tech.

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Fraud Cards Houston Retail 107

PYMNTS

JANUARY 28, 2020

Best leave now if know-your-customer (KYC) due diligence isn’t your jam: The EU is already prepping 6AMLD, which cracks down even harder on money laundering, especially online gambling. Same goes for online wagering, the new favorite way for cybercrooks to launder illicit dollars. PSPs Taking Heat.

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Compliance cryptocurrency Fraud Regulation 151

PYMNTS

AUGUST 22, 2018

22) that it has rolled out two enhanced consumer authentication solutions, step-up authentication and identity verification, to mitigate card fraud within call centers. In a press release , Fiserv said the two new solutions expand beyond knowledge-based consumer authentication that can be vulnerable to fraud. reached $5.1

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Fraud social media Knowledge Base Cards 101

PYMNTS

MAY 16, 2019

CCAI and similar systems consist of four major components – contact center interface, virtual agent, agent assist and knowledge base – that work together to assist both the caller and the agent, while simultaneously collecting data about the call for future analysis. Securing the Knowledge Base.

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PYMNTS

APRIL 22, 2020

New account fraud is a significant problem for FIs, with 48 percent of values generated from fraud attempts coming from accounts that have only been open for one day, according to a recent report. FIs have been interested in biometrics ever since fingerprint-based login became a common functionality on smartphones and other devices.

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Security Data Fraud Tools 133

PYMNTS

SEPTEMBER 4, 2019

Whether bank or business, call centers need to make sure they’re providing an innovative, robust experience for the customer online, over the phone, through mobile apps and on social media. In a recent PYMNTS interview, Sacknoff explained why call centers need to be sure to approach fraud holistically, which means relying on tools like AI.

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Security social media Tools Knowledge Base 152

Independent Banker

DECEMBER 31, 2022

The use of digital technology and artificial intelligence has changed the workplace dramatically in recent decades, but the pandemic accelerated this shift by forcing remote working and driving online commerce. We’ve seen an amazing uptick in fraud,” she adds. “So,

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Training Community Bank Community Knowledge Base 98

PYMNTS

JUNE 11, 2020

Biometric recognition technology uses a combination of artificial intelligence (AI) and machine learning (ML) to scan, analyze and store users’ biometric data, such as fingerprints, facial features, voices or even online browsing patterns to confirm that users are who they say they are. Compliance Enforcement Goes Remote With Biometrics.

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PYMNTS

OCTOBER 19, 2018

There hasn’t been a surge in the amount of fraud specifically targeting financial services firms, but the overall fraud rate is climbing, particularly as consumers embrace mobile banking applications and digital banking channels. “We Banks seem to be following that advice and have ramped up fraud prevention efforts in recent years.

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Fraud System Knowledge Base Tools 100

PYMNTS

MAY 15, 2018

Beyond the static password, there are a few methods that organizations have been implementing in recent years to try to stay ahead of the fraud problem. That leaves online identity verification: a marriage of biometrics, machine learning and human intelligence to verify the true physical identity of the person who is trying to transact.

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Fraud Training Security Compliance 129

PYMNTS

JULY 10, 2019

Despite the pervasiveness of digital identity in everyday life, concerns surrounding digital ID security continue to make headlines, with billions of dollars lost to fraud. Developments From Around the Digital Identity World. Apple announced its own digital ID program, Sign In with Apple, at its recent Worldwide Developers Conference.

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Apple social media Knowledge Base Mobile 158

PYMNTS

MARCH 14, 2017

Though money laundering is a dangerous and enormous aspect of fraud, it’s often overshadowed by high-profile data breaches and other cybercrime activities. As fraud moves away from point of sale, Clark said the landing spot of choice is application fraud — applying for an account using a fraudulent identity that’s either stolen or synthetic.

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Meeting Fraud Knowledge Base User Experience 111

PYMNTS

NOVEMBER 15, 2017

At the same time, it is important to recognize that new norms across technology (such as cell phones) and data (with social media as a data mine) can work in tandem as FIs seek more robust authentication efforts in online banking.

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social media Fraud Knowledge Base Data 100

PYMNTS

SEPTEMBER 12, 2019

In the United Kingdom, 70 percent of adults feel as though there are already too many identity checks required for online purchases. Both merchants as well as payments providers have expressed worry over how this difference in opinion may affect card abandonment and online purchase behavior.

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Regulation Google Compliance Knowledge Base 126

NCR

DECEMBER 15, 2017

In a webinar titled ‘Whose Biometric is it Anyway’ , Al Pascual, research director and head of fraud and security at Javelin Strategy and Research, pointed out that it didn’t take long for criminals to get very good at undermining the username and password protections developed for online banking.

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Fraud Security Knowledge Base Analysis 96

PYMNTS

FEBRUARY 12, 2019

As PYMNTS readers probably know better than others, those easily exploited sources of knowledge-based consumer authentication data continue to endure, even as criminals steal and trade massive amounts of that information on the digital black market. Online college education is another area that seems good for end-to-end verification.

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St. Louis Mississippi User Experience Knowledge Base 144

PYMNTS

APRIL 11, 2017

In an age where credentials are lifted and bartered and sold like the currencies hackers target themselves, the concept of anti-fraud efforts revolves around a simple idea: to make sure that the person being done business with is who they say they are in the first place. You can get a lot of things accomplished in life online.

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Data Online social media Fraud 101

PYMNTS

OCTOBER 7, 2019

Nav was founded in 2012 as Creditera, an online credit-monitoring service that helped small business owners track their personal and business credit information on one platform. The system has never fallen victim to fraud, despite several attempts by bad actors, according to Hanson. How Nav Works.

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Tools Data Security Fraud 101

PYMNTS

OCTOBER 10, 2019

Knowledge-based authentication (KBA) tools, including passwords and security questions, tend to be the primary strategy for verifying identity, and this is true for areas of financial services beyond the consumer world.

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Strategy Lending Knowledge Base Tools 124

PYMNTS

SEPTEMBER 22, 2017

Among the front row seat observers in the battle for payments security is Stephen Stuut, CEO of online mobile payments and identity verification company Jumio. Furthermore, delay in application processing leads to about 75 percent drop off in online applications, and businesses witness a decline in conversion rates. You know the ones.

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Innovation Knowledge Base Online Mobile 140

FICO

JUNE 8, 2020

Ultimately, they use it to manipulate both your customers and employees to commit fraud. Sometimes, fraudsters don’t have all of the pieces of the puzzle together, so they often further manipulate your employees, systems and customers in order to get the full suite of assets they need to commit a fraud. Strategic Areas to Focus On.

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PYMNTS

MAY 31, 2018

The biggest problem with online authentication is that it’s, well, online. The user’s specific device must also be present, and the final, knowledge-based layer must be provided – so even if a fraudster managed to get his hands on the right device, he would still be barred from doing any damage without the user’s PIN.

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ATM Data Security Regulation 109

PYMNTS

NOVEMBER 1, 2017

Sass says weak security challenges like passwords and knowledge-based questions (i.e. coincides almost too neatly with the introduction of the European Union’s second Payment Services Directive, or PSD2 — a whole new set of regulatory requirements for online payments that 3DS 2.0 Take passwords, for instance.

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Security Payments CA Data 109

Gonzobanker

MAY 7, 2018

Most banks have horrible business, mortgage servicing and wealth management self-service capabilities, and the amount of online lending and deposit account opening is sad compared to more innovative players like USAA and Capital One 360. Force the discipline of a KPI culture.

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Leadership Operations Lending Strategy 82

NCR

DECEMBER 20, 2017

There is a strong argument that the traditional username and password protections used in online banking, for example, are no longer sufficient to prevent fraudulent access. Authentication ‘at a crossroads’ The financial services sector could be approaching a decisive turning point, as far as user authentication is concerned.

Security 77

Security Knowledge Base blockchain Analysis 77

FICO

OCTOBER 26, 2021

A key challenge for financial institutions and even more so for credit unions is providing the same experience that members get in-person, online. In a Digital World, Focus on Experiences. Digital transformation has been a trend for years and the COVID pandemic has undoubtedly escalated the demand for virtual solutions.

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Analytics Community Branding Data 52

William Mills

MAY 11, 2016

Demo: Sezzle app with knowledge based authentication to link bank accounts. Chip card reader for when customers are shopping online to improve security. Integrate with any online merchant site. Customers can store all of their online profiles in one secure location to improve user experience. ^KT.

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Video Mobile social media Data 40

Fintech Labs Insights

SEPTEMBER 29, 2016

In addition to its recent funding, Jumio has forged ID verification and KYC/AML partnerships with companies ranging from European online gaming operator, Tipico ; to the Paris-based mobile scooter sharing network, Cityscoot ; to Spanish crypto-currency specialist Krypto Commerce – all in the past few months alone.

Security 12

Security Mobile Industry Knowledge Base 12

PYMNTS

SEPTEMBER 6, 2018

Might an on-demand mindset benefit those tech upstarts when tackling issues like fraud and anti-money-laundering (AML)? IdentityMind Global has debuted the RegTech Webstore , billed as a RegTech online marketplace that enables firms to integrate regulatory compliance functions directly into their own offerings.

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Compliance Fintech Regulation Knowledge Base 133

Fintech Labs Insights

DECEMBER 5, 2016

Speaking at FinovateFall 2016 in September, Daon President of the Americas Conor White asked attendees about their own experience with cart abandonment online. “Last year, a Javelin report said that there was $9 billion lost due to card fraud. That’s a problem,” White said. First we “browsed” and used Netscape.

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Security Mobile Technology America 12