PYMNTS

MARCH 14, 2017

As banks and payments companies endeavor to meet anti-money laundering (AML) regulations to avoid hefty fines for non-compliance, easily identifying customers in the digital channel becomes paramount to their success. Clark said that because of this physical aspect of ID fraud, one of the biggest risk factors has become the human factor.

Meeting 111

Meeting Fraud Knowledge Base User Experience 111

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. While it may introduce some friction to the user journey, Patel said that’s a necessary evil in today’s fraud-rich web environment. A Portrait of IDV Nirvana.

Fraud 129

Fraud Training Security Compliance 129

PYMNTS

JULY 26, 2017

At the end of the year, a new regulation called the second Payment Services Directive (PSD2) will officially take effect, requiring banks, credit unions, financial institutions and FinTech companies across the continent to change the way they conduct business. The update comes nearly a decade after the first regulation took effect.

Regulation 110

Regulation Fintech Data Security 110

PYMNTS

OCTOBER 10, 2019

Rising Know Your Customer and other risk mitigation regulations have the financial services world eyeing digital identity technology. Already seeping into the consumer services world, digital identity technology is expected to hit a $12.8 billion valuation by 2024, according to the latest PYMNTS Digital Identity Tracker.

Strategy 124

Strategy Lending Knowledge Base Tools 124

PYMNTS

OCTOBER 7, 2019

government has strict standards regarding credit check regulations, and Nav’s investor and partner Experian sets its own expectations. Nav’s primary tool in determining that authenticity is Experian’s Precise ID platform, which leverages knowledge-based authentication (KBA) by asking users questions about their credit reports.

Tools 101

Tools Data Security Fraud 101

PYMNTS

DECEMBER 26, 2016

.; and also meet the growing ID verification requirements under ant-money laundering (AML) regulations. As a result, authentication and identity verification practices that rely on data only, such as passwords and knowledge-based authentication questions, have been scrutinized and are largely seen as no longer sufficient.

Mobile 109

Mobile Payments eBook User Experience 109

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.

Data 101

Data Online social media Fraud 101

PYMNTS

MAY 31, 2018

The European Union’s General Data Protection Regulation (GDPR) went into effect on May 25, and with that, everyone has been worrying about the collection, usage and storage of personal data. Regulations. End User Experience.

ATM 109

ATM Data Security Regulation 109

FICO

JULY 21, 2019

The use of static card details such as PAN and CVV has been ruled out of use as both a knowledge-based factor and as a possession factor — somewhat contrary to an earlier opinion from the FCA. Asking questions based on known information about a customer — such as mother’s maiden name, date of birth or first pet’s name — will not do.

Knowledge Base 40

Knowledge Base Conference Analysis Security 40

Gonzobanker

MAY 7, 2018

Banks in the future will address areas with a narrow span of control and evolve to the player/coach leadership models seen more in professional service firms than in traditional, regulated financial institutions. Want to strip back the onion? Force the discipline of a KPI culture.

Leadership 82

Leadership Operations Lending Strategy 82

FICO

OCTOBER 26, 2021

On the other side, you have FinTechs – they are much smaller and less regulated, but they have the digital savvy to steal customers and they’re taking advantage of market gaps in innovative ways. On one side, you have big banks with big budgets and market dominance – but according to a recent survey by Accenture , only 29% of U.S.

Analytics 52

Analytics Community Branding Data 52

Abrigo

MAY 8, 2024

You might also like this webinar, "The check's in the mail: Understanding and preventing check fraud." Takeaway 3 Regulators are closely watching expanded uses of AI and generative artificial intelligence. Another reason for reluctance about generative AI is the highly regulated nature of banking. Introduce key takeaway below.

Examples 221

Examples Fraud Resources Risk Management 221

Fintech Labs Insights

SEPTEMBER 29, 2016

Stuut: To enable these markets to foster, regulations are being put in place that force compliance with KYC and address AML. Stuut: Jumio replaces laborious and unreliable systems including knowledge-based authentication (KBA), inferred verification, and in-person verification by untrained individuals.

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)? There also is what is being billed as a “plugin knowledge base” that offers implementation and reference guides, along with videos. Call it an à la carte approach — a pick-and-pay process.

Compliance 133

Compliance Fintech Regulation Knowledge Base 133

Gonzobanker

DECEMBER 19, 2024

Fraud issues were highlighted by sophisticated breach and ransomware attacks. Regulation was as burdensome as ever, but most bankers are lighting candles for some relief on this front with the new administration. If a bank with $830 million in assets can consistently make fraud education a priority, so can others. The Robin-Who?

Fraud 78

Fraud Fintech Marketing Industry 78