PYMNTS interviewed Lien Nguyen, senior vice president of fraud prevention at Bank of the West, about the top identity fraud threats and how to stop them — Bad actors are growing more sophisticated in their identity fraud techniques, leveraging advanced artificial intelligence technology to stage...
Identity fraud has been growing in recent years and had a notable increase in 2021. Identity theft alone accounted for $56 billion in losses that year, up 79% from 2020, and the number of these thefts reported to the Federal Trade Commission (FTC) grew 22%...
The Bank of Montreal (BMO) has finalized a $16.3 billion acquisition deal for BNP Paribas’ Bank of the West in an all cash agreement that would drive BMO’s presence into the U.S., according to a press release on Monday (Dec. 20). One of the biggest...
On Tuesday (Nov. 9), BNP Paribas subsidiary Bank of the West debuted its new treasury management platform TreasuryNow, per a company press release. According to the release, the platform is designed to offer companies better access to treasury management and provide them with options for...
November 02, 2022
Identity fraud has been growing in recent years and had a notable increase in 2021. Identity theft alone accounted for $56 billion in losses that year, up 79% from 2020, and the number of these thefts reported to the Federal Trade Commission (FTC) grew 22% since 2020. Consumers logged nearly 1.7 million reports of identity […]
September 23, 2021
Consumers are carrying the payment habits they developed in 2020 into how they shop in 2021, with the adoption of contactless and mobile payment tools continuing to rise. Many individuals...
August 16, 2017
If the past month is any indication, the digital banking space could be getting even more competitive, as newer players gain capabilities to compete on the same footing as traditional...
November 15, 2022
Virtual card and spend management platform Extend is now collaborating with Bank of the West to enable small to medium-sized businesses (SMBs) to add Extend’s capabilities to their existing Bank of the West commercial card. This pairing enables SMBs to control company credit cards and streamline spend management without having to do any technical integrations or additional applications, the […]
December 20, 2021
The Bank of Montreal (BMO) has finalized a $16.3 billion acquisition deal for BNP Paribas’ Bank of the West in an all cash agreement that would drive BMO’s presence into...
November 09, 2021
On Tuesday (Nov. 9), BNP Paribas subsidiary Bank of the West debuted its new treasury management platform TreasuryNow, per a company press release. According to the release, the platform is...
May 21, 2018
In an effort to combat cyberattacks, banks are taking a military approach to their online security. “This is not that different from terrorists and drug cartels,” Matthew Nyman of Mastercard...
