As much as consumers love the convenience of connected online banking experiences, nearly 8 in 10 digital banking customers are unaware that FinTech apps can sell the information they share to other parties. In the Authenticated Payments Report, PNC Bank’s Natalie Talpas explains why banks...
Consumers have become enamored of digital banking’s conveniences, especially as the technologies underpinning them make it easier than ever to share data and receive personalized insights into spending or new products. Open banking initiatives using application programming interfaces (APIs) to enable these connections have sprung...
Facebook says its highest-risk users will soon need to start protecting their accounts with two-factor authentication (2FA). According to several published reports on Thursday (Dec. 2), this change will — for now — apply to “high-risk” accounts: journalists, politicians, activists and others who are part...
No surprise here: The spike in online traffic through the past 18 months since the pandemic hit us all hard has also given rise to an upswing in fraudulent activity. To get a sense of size and scope, consider the fact that last year alone...
The pandemic set off a ripple effect of economic uncertainty that reached virtually every region of the world. Amid COVID-19 restrictions and the operational limitations it created, businesses were forced to reassess their functioning strategies and adapt to a rapidly evolving digital landscape. While digital...
Password-based authentication continues to weaken online fraud defense strategies, and FinTechs are vulnerable. In the Monetizing Digital Intent Tracker, Kunal Kaul, chief risk and strategy officer at digital financial services company Tala, explains how behavioral analytics beats passwords when it comes to onboarding and authenticating...
With the longstanding 3D Secure (3DS) version 1 being readied for retirement in October 2022, financial institutions (FIs) and merchants are preparing for a streamlined authentication process more aligned with consumers’ expectations of the connected economy. It’s a timely move. During the pandemic and resulting...
The uptick in fraudulent activity during the pandemic has forced cybersecurity professionals to rethink traditional user authentication methods. Digital platforms historically have relied on knowledge-based authentication (KBA) and passwords to do the job, but consumers’ poor digital habits have made these systems easier to scam....
Today’s consumers have several forms of digital banking and financial accounts — from banks with traditional branches, online-only banks, FinTechs, insurance companies and brokerages. Every interaction a consumer has with each institution has the potential to make or break their trust in it — whether...
