As a credit union, the member experience drives everything Virginia Credit Union does, and new ideas about how to better serve members and make the banking experience even more frictionless are always considered—with a [...]
Digital identity solutions are becoming more and more commonplace, especially as consumers grow increasingly aware of the weaknesses of authentication methods like passwords. A recent study found 32 percent of security incidents in 2019 involved [...]
Banks have been quietly rolling out biometrics to identify customers — verifying them by their fingerprint, voice or eye scan — and retailers like Amazon are getting into the game. Why it matters: These companies are amassing [...]
Passwords are a double-edged sword: they are meant to protect our information, but they are also frustrating with so many to remember and manage. A recent Visa survey showed that 68% of U.S. shoppers [...]
In 2015, Kate Hopson read a troubling statistic: One in every 500 calls will be a fraudulent attempt by 2016. For the contact center manager at Virginia Credit Union ($3.6B, Richmond, VA), the number [...]
With the increased use of mobile banking apps, cybersecurity has quickly come to the forefront as an imperative measure to guard against hacking and fraud. In a recent study, researchers predicted that smartphone subscriptions could [...]
The list of things we can unlock with our fingerprints, faces and irises is getting longer. JetBlue passengers can board a plane from Boston to Aruba by pausing in front of a camera. Samsung Galaxy [...]
The wealth management marketplace is changing fast! With the arrival of FinTech challengers, the changing expectations of tech-savvy customers, and the shifting regulatory environment, wealth management leaders are being challenged to identify what the top [...]
It is on you - credit union executives - to beat the digital banking bogeyman into submission. It most definitely is not on members - even though, too often, credit union executives act as though [...]
How ineffective are passwords as a means of authentication? Consider this key piece of information from Chris Doner, CEO/founder of Access Softek, a mobile banking software development firm: “All the fraud that’s reported [...]
Voice Recognition Current systems are able to identify roughly 130 different physical and behavioral characteristics within a person’s vocal pattern. They can match these to a prerecorded voice print to verify your identity. That [...]
With new technologies and innovations coming on the scene almost daily, community financial institutions (FIs) need to consider all the ways consumers of the very near future will want to bank. Emerging technologies like voice-activated [...]
Google has launched a new app called Hands Free that doesn’t require you to take your phone out of your pocket and uses face biomerics. The new system is available on Android and iOS [...]
Participants overwhelmingly approved of the $8.6 billion, Mountain View, Calif.-based First Tech Federal Credit Union's biometrics pilot last fall, according to the credit union. During the pilot program, more than 200 First Tech [...]
More on Tokenization This is Part 3 of the 3-Part series “Tokenization, Encryption, EMV, and Biometrics: The New Superheroes of Payments Fraud.” In Part 1, we reviewed tokenization, its background, and how it is now [...]
