Episodes
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The banking industry infamously divides itself into silos to address different aspects of the business, which can be problematic for customers who think they are dealing with a single entity. This can be especially difficult during onboarding and security checks, when different silos at the bank ask repeatedly for credentials. In a recent PaymentsJournal podcast, […]
The post Reducing the Friction in Bank Customer Onboarding appeared first on PaymentsJournal.
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As awareness of the dangers of identity theft grows, it’s important to highlight a particularly insidious threat: stealing children’s identities. Although children have very limited financial activity, this ironically makes them appealing targets for fraudsters. According to Javelin Strategy & Research, 1.7 million children had their personal information stolen in 2021-2022, resulting in nearly […]
The post A Silent Threat: Protecting Children From Identity Theft appeared first on PaymentsJournal.
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Episodes manquant?
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Even though the number of checks written continues to decline, mail theft remains on the rise. Beyond the theft of checks directly from mailboxes, there have been instances of stolen mail trucks. The ease of modifying checks allows criminals to simply wash and modify the payee’s name. Q2’s positive pay system, used by roughly 550 banks […]
The post Positive Pay: An Underused Tool for Fighting Check Fraud appeared first on PaymentsJournal.
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The evolution of digital card management has given financial institutions new opportunities to cultivate enduring customer relationships. By making consumers’ lives more convenient and complimenting physical cards, so consumers have the options that work for their lives at a particular time, issuers can foster ease of use and brand loyalty, leading to decades-long relationships. In […]
The post FIs Are Building Long-Lasting Relationships Through Digital Card Programs appeared first on PaymentsJournal.
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As fraud related to artificial intelligence (AI) becomes increasingly sophisticated and accessible, many legacy lines of defense are no longer able to effectively protect financial institutions and their customers. Financial institutions need to take a more proactive approach to fraud. By collecting and analyzing real-time data and using AI to identify patterns, FIs can quickly […]
The post Fighting Financial Fraud When the Bad Guys Are Armed With AI appeared first on PaymentsJournal.
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The rise in e-commerce fraud, combined with consumers’ increasing willingness to file chargebacks, has left issuers and acquirers scrambling to shore up their dispute management processes. With a complicated process that varies depending on the payment network involved, chargebacks have become a huge operational challenge for many merchants. In a recent PaymentsJournal podcast, Cheryl Fitzgarrald […]
The post New Approaches to the Persistent Problem of Chargebacks appeared first on PaymentsJournal.
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Successful companies must constantly change to preserve their success, but digital transformation may be the most radical overhaul most of us will ever see. For organizations to make this transformation a success, getting employees on board and fully engaged is a requirement. As the head of Corporate Strategic Planning and Management for Wells Fargo, Amy […]
The post Turning the Ship Around: Insights for Navigating Digital Transformations appeared first on PaymentsJournal.
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While fintechs and banks may have once been seen as competitors, their relationship has grown over the years. With market shifts and evolving customer needs, new models of working together have emerged, expanding customers’ options and opening doors for new ways of fintechs and banks to work together in mutually beneficial ways. A recent PaymentsJournal […]
The post Fintechs and Banks: How the Partnership Is Evolving appeared first on PaymentsJournal.
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As businesses strive for innovation, efficiency, and scalability, the path to digitization is fraught with challenges. It’s a journey that requires addressing outdated processes, adopting new technologies, and most important, gaining buy-in from leadership and colleagues. In a recent PaymentsJournal podcast, Reetika Grewal, Executive Vice President and Head of Digital Transformation at Wells Fargo, and […]
The post Navigating Digitization Through Strategic Fintech Partnerships appeared first on PaymentsJournal.
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With the Clearing House’s RTP network and the Federal Reserve’s FedNow, the demand for instant payments continues to grow from consumers and small businesses. How can businesses best accelerate this process? Debbie Smart, Senior Product Marketer at Q2, and Keith Gray, Vice President of Strategic Partnerships at the Clearing House, sat down with Elisa Tavilla, […]
The post Preparing Your Organization for Instant Payments appeared first on PaymentsJournal.