58% of FIs reported a rise in the cost of fraudulent transactions in 2022, which is why Seth Ruden of First Tech Federal Credit Union says “targeted friction” is essential to fighting fraud without compromising the user experience.
With the world existing more online than ever, fraud attacks targeting financial institutions (FIs) are a growing threat. Criminals are increasingly succeeding in exploiting the vulnerabilities in FIs’ systems, with approximately 59% of FIs experiencing an increase in their overall fraud rates in 2022, according...
Fight or flight. The classic conflict winds its way through all many aspects of life — even financial services. Turns out that some credit union (CU) consumers would rather vote with their feet than joust with their financial institutions (FIs) in a bid to get...
Digitizing payments has increased ease of use and transaction volumes, but both check and ACH fraud are still commonplace. In this month’s "Digital Fraud Tracker," PYMNTS talked with Seth Ruden, senior director of fraud operations for First Tech Federal Credit Union, about crafting a holistic...
February 23, 2023
With the world existing more online than ever, fraud attacks targeting financial institutions (FIs) are a growing threat. Criminals are increasingly succeeding in exploiting the vulnerabilities in FIs’ systems, with approximately 59% of FIs experiencing an increase in their overall fraud rates in 2022, according to PYMNTS research. Credit unions have been particular targets. According […]
July 20, 2022
Fight or flight. The classic conflict winds its way through all many aspects of life — even financial services. Turns out that some credit union (CU) consumers would rather vote...
June 02, 2022
Digital payments are quickly becoming the new normal, but there is still a sizable contingent of consumers that prefer cash or paper checks. A recent study found that the proportion...
August 30, 2021
Pre-pandemic, credit union (CU) members were unlikely to think of their financial institutions (FIs) as digital innovators, prizing them instead for their in-person — specifically in-branch — experience. The physical...
September 30, 2024
Digital Federal Credit Union and First Tech Federal Credit Union have announced plans to merge, the credit unions said in a Monday (Sept. 30) news release. If the merger is approved by the National Credit Union Administration and First Tech’s membership, the new credit union will be worth $28.7 billion and have nearly 2 million […]
February 26, 2016
Early Warning’s P2P payments network clearXchange has partnered with First Tech Federal Credit Union to support its 420,000-member network. The Mountain View-based credit union, which has $8.6 billion in assets, has now...
