As fraudsters grow more sophisticated, so too must the fraud defenses of eCommerce sites and other operators who sail the shark-infested waters of digital commerce. We explore aspects of the fraud fight in “Combating Online Fraud With Digital Identification,” a PYMNTS and Prove collaboration, and part...
Caitlin Sinclair, director of proposition development, financial crime at GIACT, an LSEG business, recently told PYMNTS that open banking can — and will — give rise to empowered consumers, and take the tedium out of online commerce. We’ve gone from an environment where one carried physical...
NatWest Group and OneID have partnered to launch a new digital ID service for businesses. The collaboration between the British banking and insurance company and the identity service provider has enabled NatWest Group to make its new Customer Attribute Sharing service available as an embedded...
Consumers do not like waiting to access their accounts. According to PYMNTS’ research, nearly half of consumers have concerns about waiting a long time during identification processes, demonstrating how customers want frictionless and streamlined experiences when logging in to their accounts. Advanced digital ID tools are gaining wider acceptance,...
With 70% of U.S. adults interested in advanced ID verification, companies that leverage it to speed sign-in are poised to gain revenue, Spark Wallet CEO Martin Spusta tells PYMNTS.
Streamlined digital account opening is a must-have for all financial institutions (FIs). A critical step in that process is the login experience, for which customers increasingly require speed and security. The need for a seamless experience is crucial, as incorrect password attempts cause consumers to...
The European Union’s new electronic identification regulation is being criticized on multiple fronts. Designed to supersede the 2014 electronic identification and trust services (eIDAS) regulation, the European Commission proposed a revised eIDAS (eIDAS 2) in 2021 with the goal to give internet users more control...
Authorized push payment (APP) fraud, identity theft, synthetic account fraud and first-party misuse are all growing problems for many industries and countries. In the United Kingdom, financial loss from APP scams, which involve fraudsters deceiving individuals into sending payments to bank accounts that the fraudsters...
With a single fake identity, bad actors can wreak havoc by going from bank to bank and exploiting it for all they can get. In the “Digital Identity Tracker®," Lisa Zeimetz of First National Bank and Trust explains why information sharing among banks and employing...
