Card Testing By Fraudsters Is Up 200 Percent This Year
Since EMV chip cards have made point of sale fraud more difficult, e-commerce has seen a sharp increase in fraudulent activity.
Tom Groenfeldt – Financial Technology
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Reinventing small and medium-size business banking in the US
US bank lending to SMBs has been flat in recent years, while alternative lenders have seen robust growth. If #banks do not move quickly to engage with SMBs digitally, they risk losing even more share of the market to fintechs. Banks possess a wealth of strategic advantages in the battle for SMB business, but they must actively leverage these in order to stay competitive.
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Banks Need to Shift Mobile Focus to ‘Money Management’
The majority of people use their #mobile banking apps to check their balance. This is a fact that does not surprise most in banking, many of whom believe the industry’s #focus on “#money movement” as opposed to “money #management” is hurting engagement levels. Focusing on the movement of a consumer’s money, or P2P capabilities, has […]
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China Rapid Finance Hopes Its U.S. IPO Will Grow Chinese Customers
As only the second #Chinese online lender to go public in the U.S. (first was Yirendai in 2015), #China #Rapid #Finance is confident its new listing on the New York Stock Exchange will lead to growth. The company, a consumer credit marketplace in China, focuses on providing credit access to what it calls “EMMAs”—“emerging middle-class, […]
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Customer Experience In Banking Often Takes Second Place to Savings
Improving #customer #experience at #banks is a challenge and only a small percentage are actively working on i.
Tom Groenfeldt – Financial Technology -
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Key to Mobile Wallet Adoption? Rewards, Samsung Pay Bets
It’s no secret that #mobile wallets, although well-intended, haven’t gained much traction among consumers. In fact, a recent Accenture study suggests that 56% of North American consumers are aware of mobile payment services, but only 19% use their mobile #wallet regularly. After all, consumers are not ready to give up their cash and card-filled wallets quite […]
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E-Commerce Merchants Can Get Card Transactions Guaranteed
#Card not present fraud (CNP) online is a growing problem, especially as EMV chips discourage fraud at point of sale. Machine learning and AI are being used to combat it and still approve good #transactions.
Tom Groenfeldt – Financial Technology -
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Plaid and Dwolla Give a Boost to ACH in the Payments Wars
There’s a war on in #payments — the card networks (and their fees) vs. everyone else. In the U.S., payments innovation tends to center around cards. Uber, Square Cash, even, lately, PayPal are card-first. But #Dwolla, and now #Plaid, are teaming up to improve the ACH experience for builders, merchants and consumers, which could save […]
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Confidence in Crypto Surges As Bitcoin, Ether Hit New All-Time Highs
#Bitcoin has, once again, smashed a record. The #cryptocurrency hit a new all-time high yesterday, rising to about $ 1,343, while its younger cousin #ether–the currency traded on Ethereum&8211;also logged a new record when prices rocketed over $ 60. The price hikes come amidst a rising period of #confidence and excitement for cryptocurrency enthusiasts, emboldened due to recent […]
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Seth Merrin Wired Wall Street Trading And Simplified Asset Management
From paper ledgers for #trading to straight-through processing, #Seth #Merrin has been a leader in #Wall #Street #technology.
Tom Groenfeldt – Financial Technology
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