Traditional loan metrics often leave out individuals with low credit scores who are otherwise financially sound, but behavioral analytics can give lenders a better idea of whether they are truly capable of making good on their payments. In the Monetizing Digital Intent Tracker, OppFi CEO...
Consumers understand that identity needs to be verified as part of any interaction with a financial system, whether due to regulatory compliance, business needs or part of the ongoing battle against fraudsters. But as Yossi Zekri, CEO of Acuant, told Karen Webster: “Consumers should be...
Fraud hit record highs over the past year amid unprecedented digital engagement, with each online interaction giving bad actors an opportunity to impersonate legitimate customers and access their personal funds or valuable data. The Federal Trade Commission (FTC) received more than 2.2 million reports of...
With news out this past week that the U.K.’s Financial Conduct Authority (FCA) has issued its second delay of PSD2’s implementation in six months — this time until March 2022 — fresh calls are being made for interoperability and standards to ensure that the swift...
Machine learning (ML) can help digital banks do much of the heavy lifting during customer onboarding — especially if applicants have common names. In the Digital Onboarding Tracker, OakNorth's Sean Hunter explains how ML-based systems can help banks cross-reference legitimate applicants’ data to avoid confusing...
Online security, always a priority, has taken on greater urgency as consumers use digital channels to shop and carry out their banking activities in higher volumes. Research revealed that consumers are expressing growing comfort with and a preference for physical and behavior-based methods of security that...
Know your customer (KYC) procedures has never been more important as the pandemic has caused a surge in digital transactions. While customers want bank and retail websites to keep their personal data secure, they don’t want to have to jump through hoops to confirm their...
In the digital age, how we move, tap and swipe can give financial institutions (FIs) the clues of the personalities behind the screen. Neuro-ID Director of Behavioral Analytics James Craddick told PYMNTS that in the wake of the pandemic, companies are innovating and fine-tuning their...
Federated identity management is the technical term behind what we commonly call “single sign-on” or SSO, where one set of web credentials unlocks multiple ecosystems and platforms. PYMNTS’ May 2021 Authenticated Payments Report, done in collaboration with LoginID, goes deep on this timely topic, as...
