While graph theory applications have been in the market for many years, they are gaining popularity because fraud rings are larger, more complex, and more
Only time will tell how or whether the new USPS standards will impact account takeover rates.
It’s an age-old story: If burglars find your front door deadbolted, they’re going to look for an unlocked window. Just like brick-and-mortar criminals, identity thieves
In a recent article for Great Lakes Banker, Adam Elliott, Founder and President of Kevari writes, “As you’re assessing opportunities to embrace modern technology and
While much of regulatory compliance is now achieved with the help of efficient automated systems, financial institutions still have processes that have not benefited from modern technology. These relics from the past are a drag on the bottom line; they are paper-intensive, inefficient, and expensive.
One such relic is the process by which financial institutions are verifying customer/member address changes to comply with The FACT Act Section 114B. Instead of using cost-effective analytics software solutions as the law allows, institutions are printing and mailing letters at a cost of about $1 per address change.
A digital approach to verifying address, phone number, and email changes is more efficient, cost effective, and better at reducing fraud losses in today’s digital banking environment. There’s never been a more perfect time for financial institutions to retire those antiquated address-change letters.