If you were to hop into a time machine and take a look at the quick-service restaurant (QSR) space a mere five years ago, the segment would look incredibly different than it does today. Digital barely existed among QSRs, and custom demand for it was...
Social distancing mandates are pushing consumers to embrace digital-first banking services, creating opportunity for fraudsters to bury their scams across multiple channels. In this month’s FI Fraud Decisioning Playbook, Uma Wilson, executive vice president and director of treasury management at UMB Bank, discusses how behavioral...
More consumers are turning to the omnichannel offerings of banks and credit unions (CUs) as they follow stay-at-home mandates, and cybercriminals are eager to launch attacks that make use of these channels. Account takeovers (ATOs) rose 347 percent from 2018 to 2019 — a problem...
The ongoing COVID-19 pandemic is significantly affecting everyday life, with more than one-third of the world’s population subject to social distancing guidelines, stay-at-home orders or other regulations to prevent the virus’s spread. Banks are largely considered essential businesses and allowed to continue their operations, but...
Financial crimes are increasing amid the COVID-19 pandemic, with fraudsters impersonating tax officials to steal personal data. Multi-faceted approaches are necessary, as simply using automated systems or human intuition alone leaves financial institutions fighting with one hand tied behind their backs. In the inaugural Preventing...
Financial crime is a never-ending concern for banks, credit unions (CUs) and other financial institutions (FIs), with trillions of dollars and untold terabytes of personal information stolen every year. Bad actors deploy a staggeringly diverse array of tactics to exact their crimes, ranging from impersonating...
People have been talking about the world “going digital” for the last decade, and anticipating the arrival of a digital-first world. But even the most enthusiastic futurist or technologist couldn’t have forecast that by the first week of May 2020 the world would no longer...
Whether the objective is teaching behavior to kids, being an effective team member, or building more impenetrable cyber defenses, learning from a good example works. This is pertinent to artificial intelligence (AI) in finance, where enhanced forms like adaptive AI are fulfilling the technology’s promise...
Financial fraud costs businesses an estimated $1.45 trillion, and it resulted in almost half of global organizations noting they were victims of fraud in 2018. Bad actors are constantly working to find online systems’ loopholes or weaknesses — a growing problem as such platforms enhance...
