Digital banking quickly became standard for consumers nationwide as the pandemic cemented a shift to mobile that had been years in the making. Consumers expect targeted and personalized digital banking experiences rather than one-size-fits-all. Forty-six percent want personalized help from their financial institutions (FIs) in...
Fraud’s cost goes far beyond the actual amount stolen, with a recent study finding that every dollar lost to fraud costs FIs about $4.36 in total. Moreover, this represents only directly related expenses, such as legal fees and recovery: The true cost of fraud, taking...
Six in 10 banks plan to increase their IT spending on fraud management in 2023, including cutting-edge solutions to help with push payments fraud. But with 70% lacking the AI capabilities to keep up with larger competitors, they realize that they may not be able...
A substantial number of Americans can expect to experience digital fraud at least once in their lifetime. A recent study found that bad actors have stolen or compromised the personal information of four in 10 individuals in the past year. Fifty-one percent of these victims...
May 30, 2023
A substantial number of Americans can expect to experience digital fraud at least once in their lifetime. A recent study found that bad actors have stolen or compromised the personal information of four in 10 individuals in the past year. Fifty-one percent of these victims lost personal funds when fraudsters compromised their accounts, and half […]
April 14, 2023
Banks face increasing consumer demands for personalized advice and tools to manage their finances amid economic challenges. Just 44% of customers believe their banks support them during difficult economic times,...
March 23, 2023
Digital banks are gaining market share, especially among small business owners, freelancers and millennial customers. Increased security and the latest innovative features appeal to many favoring digital banking, but many,...
January 13, 2023
Inflation is a major challenge for small to midsized businesses (SMBs) in the United States, where 40% are concerned about rising interest rates and 7 in 10 are addressing it...
