Financial institutions continue to face a myriad of fraud challenges, ranging from payment card fraud, wrongful termination lawsuits, clever scams targeting consumers, all-time-high payment app fraud, and rising cybersecurity concerns as the Russian/Ukraine situation [...]
Credit unions continue to face a myriad of changes and challenges as they service auto loans and grow their auto loan portfolio. Recently, the auto industry has experienced increased regulatory scrutiny and attention, particularly related [...]
The mortgage industry has experienced tumultuous shifts since and during the pandemic. Key changes have occurred from emergent forbearances to a frenzied housing market with high pricing and lower than average inventory, long build times [...]
The connotation of the word, fee, has always been bad. The same could be said when you add overdraft in front of it. Death to overdraft fees has been a common theme in the news [...]
If you’re like countless others, you’ve grown weary of hearing terms like ‘unprecedented’, ‘pandemic’, and ‘the new norm’. Let’s face it, we were all thrust into a fight we hadn’t trained [...]
Ping! Ding. BEEP. Buzz. Just like you, your consumers are inundated with notifications and alerts every day. Cutting through the digital noise to reach them with your financial institution’s unique message is challenging. In [...]
As financial institutions look forward into 2022 and beyond, it will be nearly impossible to predict the challenges ahead. While it is certain that coming years will be impacted by the pandemic, shifting consumer needs, [...]
What are Biometrics? Authentication, authentication, authentication. Authenticating a member’s identity before fulfilling a request or transaction is vital for member protection and fraud prevention. Authentication layers should be secure, accurate, and not easily counterfeited. [...]
Given the current economic and pandemic state, unfortunately, financial fraud will continue to thrive well into 2022 and beyond with fraudsters anticipated to exploit consumers across all digital channels. As financial institutions and consumers strengthen [...]
Artificial intelligence (AI) is not only the norm, but the expectation for just about every aspect of life, including banking. AI is an intelligent and virtual resource that deploys data to replace and improve business [...]
The auto finance market has experienced an abundance of challenges over the last 24 months. The demand for used vehicles spiked in the aftermath of chip shortages, OEM shutdowns, and major labor shortages. Last year’[...]
Tis the season for holiday shopping, and card-not-present fraud. For the 2020 holiday shopping season, many consumers pivoted to e-commerce to accommodate social distancing and stay-at-home orders from the COVID-19 pandemic. As online shopping increased, [...]
Artificial intelligence (AI) continues to entrench itself in financial institution infrastructure, and many credit unions are turning to AI to solve call center and overall member communication challenges. Challenges Call Centers are Facing: Increased call [...]
Artificial intelligence (AI) has been trending for some time and not slowing down in its speed, ability, or usefulness. Many financial institutions have implemented at least a basic form of AI to enhance their consumer [...]
What is product refund liability? Product refund liability is the responsibility of issuing a refund to a borrower for any unused portion of a vehicle protection product (VPP) attached to a loan. Examples of a [...]
