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...
Digital identity verification company Mitek announced Tuesday (June 1) it has acquired ID R&D, an artificial intelligence (AI)-based voice and face biometrics and liveness detection firm, a move it says will help curtail the growing threat of identity fraud. Get the Full Story Complete the form...
Generation Z consumers are well-known as tastemakers when it comes to pop culture, music and fashion, and their influence is quickly expanding to the financial industry as many begin to seek out banks for the first time. Most of these consumers prefer to bank with...
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...
Digital banking has become the new normal over the past year, with 71 percent of all financial institution (FI) customers now regularly banking online. Many of these customers have embraced online financial services for the first time and have had to undergo onboarding, which all...
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