An explosion of FinTech innovation has jump-started traditional financial institutions’ (FIs) digitization efforts. M&A initiatives and partnerships, Open Banking business models and data integrations, and significant investments in new, cloud-based products and services have legacy banks working intensely to meet customers’ digital demands. Yet, each...
Fraudsters are approaching their less-than-ethical business models with healthy work ethics. Headlines are filled with reports of service outages and data breaches, and both banks and consumers are contending with rising fraud concerns as digital banking takes off. Fraud threatens everyone, yet customers rely on...
Move fast and break the conventional mold is a strategy practically synonymous with challenger banks. But to gain traction in markets where established banks keep a tight hold on consumers, challengers will need to do better. In the latest Digital Banking Tracker™, Nicolas Kopp, N26’s...
Challenger banks with a couple of operating years behind them are beginning to get a taste of the problems they handed to legacy banking institutions. These challenger banks are now competing with an emerging group of financial startups, which are coming armed with innovative technologies...
September 18, 2019
For FIs, staying secure requires a fundamental shift in how they protect against account opening fraud and synthetic identity theft, says Dominic Venturo, executive vice president at U.S. Bank. In the latest Digital Banking Tracker, he discusses how machine learning provides layered fraud protection to customers, while removing manual review.
September 17, 2019
Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and the losses are set to further increase as this year progresses. ATO and other fraud methods that...
July 25, 2019
Banks need to innovate faster and further when it comes to the technology they use on their online platforms, as to stay one step ahead of bad actors with access...
June 27, 2019
As consumers rely on digital channels to fill more complex financial needs, identity verification is crucial in the world of banking. Fraudsters are finding new ways to slip past technological defenses,...
