“Banking is rapidly becoming more omnichannel, and FIs need to be sure they can safeguard customers across all the products through which they access their financial services,� according to the May 2020 FI Fraud Decisioning Playbook, produced by PYMNTS and sponsored by Simility. Consumers now demand choice, flexibility and convenience...
Deep Dive: Preventing Fraudsters From Exploiting FIs’ Omnichannel Blind Spots
Consumers want omnichannel banking access so they can easily switch between in-person branch visits, call center services and mobile apps as needed. They might pop into bank branches near their offices to grab cash, for example, then use mobile apps during their subway rides home to check their account activity....
How APIs Help Banks Provide Digital Services During The Pandemic
APIs’ adoption has been an important catalyst in digital-first banking, allowing FIs, FinTechs and other players to collaborate on new tools while also enabling compatibility between third-party apps and bank financial data. They are especially prevalent in Europe, where the EU’s PSD2 legislation requires their use to ensure the continent’s...
Deep Dive: Offering An End-To-End Experience Through ATMs
The COVID-19 crisis has triggered a quantum leap among credit unions (CUs) toward offering innovative products and services. Safety measures implemented to slow the virus’s spread have forced CUs across the United States to shutter their physical branches as states lock down and residents are confined to their homes. This...
What Legacy FIs Miss About The Need For Cloud-Based Infrastructure
Financial institutions (FIs) have been adapting their platforms and technologies to better suit the needs of more digital consumers for decades, but the coronavirus has placed new importance and pressure on accelerating these efforts. Allowing customers uninterrupted access to their online financial accounts and processing digital payments quickly is critical...
QSR Orders Have Gone Digital And Fraudsters Want A Piece Of The Pie
If you were to hop into a time machine and take a look at the quick-service restaurant (QSR) space a mere five years ago, the segment would look incredibly different than it does today. Digital barely existed among QSRs, and custom demand for it was nearly nonexistent. In fact, the...