By Alyssa Arredondo
After major data breaches — like the 2018 attacks on Marriott, Facebook, and Macy’s — merchants aren’t the only ones forced to take action. Consumers and financial institutions are often left to pick up the pieces by having to cancel payment cards and retake control of their financial data, causing strains on members, customers and institutions.
By Don Halliwell
For years, the banking industry was stagnant. Decade old systems stitched together have created a fragility that makes innovation quite challenging. Operating within these constraints, banks have been hesitant to adopt new techniques and systems – until now. In a new era where every interaction relies on technology, it’s crucial for banks to reinvent how they connect with their clients during every interaction. With big tech leading the way and edging ever closer to the financial space, from the operations to the experience, digital has increased customer’s expectations.
A Case Study by EZShield
Full-Service Community Bank
Frandsen Bank & Trust is a full-service community banking, trust and investment services organization. Frandsen is focused on delivering a true community banking environment where services are tailored to support long-term relationships. With branches in Minnesota, Wisconsin and North Dakota, Frandsen works to develop meaningful relationships with every customer that walks through the door.
By Adam Elliott
As fraudsters of the 21st century continue to look for unique ways to separate bank customers from their money, there’s an emerging trend that is costing retail banks millions: an increase in new account fraud (NAF) that is slipping past front-end fraud and risk controls.
Why AI in AML makes sense.
By Alaina Webster
Recently, federal regulatory agencies issued a joint statement that, boiled down, encourages financial institutions to take advantage of the possibilities artificial intelligence (among other new technologies) might offer banks in meeting their Bank Secrecy Act/anti-money laundering compliance requirements.