Consumers want a speedy, Amazon-like experience when creating accounts with their banks, but keeping fraudsters from slipping in among genuine users can be a challenge. In the FI Fraud Decisioning Playbook, John Kelly, chief administrative officer at Pentagon Federal Credit Union, discusses why financial institutions...
Synthetic identity fraud is costing companies heavily, with $14.7 billion lost to this type of crime in 2018 alone. This is a particularly subtle and nefarious kind of attack, in which bad actors create fake identities using real details stolen from different consumers. The result...
During the 35-day U.S. government shutdown, federal credit unions had thousands of members without paychecks, with no end in sight. Ricardo Chamorro, EVP at D.C. area-based PenFed Credit Union, tells PYMNTS that keeping its affected members afloat meant applying lessons learned from weathering more than...
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 with their feet than joust with their financial institutions (FIs) in a bid to get the personal touch they crave, and which is evident in […]
July 24, 2020
Synthetic identity fraud is costing companies heavily, with $14.7 billion lost to this type of crime in 2018 alone. This is a particularly subtle and nefarious kind of attack, in...
