Bonifii Blog2024-03-06T16:19:06+00:00

CU*Answers welcomes two new MemberPass biometric authentication pilot participants

GRAND RAPIDS, MI – April 15, 2024 CU*Answers is excited to announce that two additional credit unions will join the MemberPass biometric member authentication pilot: Partnership Financial Credit Union (Morton Grove, IL) and Madison County Federal Credit Union (Anderson, IN). Recently, CU*Answers announced the first of its pilot members, encurage Financial Credit Union Network, whose deployment was initiated in March 2024. In December 2023, CU*Answers integrated MemberPass into its [...]

By |April 12th, 2024|

CU*Answers and Bonifii to launch MemberPass biometric authentication solution for CU*BASE credit unions

GRAND RAPIDS, MI – February 29, 2024 Cooperative CUSO CU*Answers recently announced that Bonifii’s state-of-the-art biometric authentication technology will soon be available to CU*BASE® core credit unions. The successful integration of the Bonifii solution, known as MemberPass®, was concluded in December 2023. The rollout will offer all CU*Answers credit unions the seamless capability to incorporate Bonifii’s biometric authentication solution into their suite of member authentication and fraud prevention [...]

By |February 29th, 2024|

Lone Star Credit Union Successfully Pilots New BonifiID Identity Credential from Bonifii and GlobaliD

New product demonstrates BonifiID’s verifiable proof of identity using GlobaliD’s digital wallet. Denver, CO — (September 11, 2023) Bonifii, the financial service industry’s first transaction network for verifiable credentials, has completed a successful pilot of its BonifiID identity credential verification with Lone Star Credit Union using GlobaliD’s digital wallet. GlobaliD is a decentralized digital identity company that enables users around the world to manage their identity through its trust [...]

By |September 11th, 2023|

How to Protect Your Credit Union and Members from AI fraud with MemberPass

As a credit union, you are committed to providing the highest level of security and protection for your valued members. In today's digital age, where advancements in technology are accompanied by increasingly sophisticated fraudulent activities, it is crucial for you to stay one step ahead. That's why we are thrilled to introduce you to MemberPass digital ID, a groundbreaking solution that safeguards credit unions and your members from AI [...]

By |July 7th, 2023|

The Rise of AI Fraud: What Credit Unions Need to Know

The Rise of AI Fraud: What Credit Unions Need to Know As technology continues to advance, so does the sophistication of fraudulent activity. One of the most concerning threats in recent years is AI-powered fraud. Bad actors are using this technology to conduct increasingly sophisticated attacks on financial institutions, including credit unions. In this article, we'll explore what credit unions need to know about the rise of AI [...]

By |May 18th, 2023|

Bonifii rolls out MemberPass product enhancements and “Bring Your Own Identity” for New Account Opening

Bonifii partnered with Entersekt, a global company, to improve MemberPass functionality. Upon initial consumer feedback, the need to download a second app to enable MemberPass 1.0 became a barrier to adoption for credit union members. In 2022, the primary focus was to improve the functionality of MemberPass, allowing for an easier enrollment and authentication process to protect credit unions and its members from becoming [...]

By |February 7th, 2023|

Next generation MemberPass delivers multiple new functions and attractive user benefits

Denver, CO August 22, 2022 - Bonifii is excited to announce that its premier digital identity and fraud prevention solution, MemberPass®, has been significantly strengthened and improved. The next generation of MemberPass is released and available for credit union implementation today! MemberPass was the first completely secure form of digital identity verification. It’s owned and controlled by members and is simple to use as personal authentication for all transactions [...]

By |August 23rd, 2022|

A Good Way to Assess the Value of Your Fraud Prevention Activities

Tips and ideas for your credit union Experienced credit union managers know the value of objective ROI calculations. They’re especially good – and handy – to have in your pocket when it’s budget time and your goal is to get more funding for your department. The truth is, however, for certain business activities, it’s hard to get good ROI data. More often than not, it’s because there’s [...]

By |August 11th, 2022|

Where on the Consumer Authentication Strength Scale do your members operate?

Research tells us it’s probably about level five. MemberPass will boost your members to level nine! Just as fraudsters use multiple different approaches to perpetrate financial crimes, there are at least nine levels of personal authentication. Authentication is crucial, because virtually all types of financial fraud start with a breakdown of personal identification. We’ll look at all nine levels. And we’ll pay extra attention [...]

By |August 2nd, 2022|

Antiquated Member Authentication Fraud is on the rise and traditional authentication methods no longer work to prevent it.

The financial technology landscape has evolved dramatically in the past few years. If you work in a credit union, you’ve seen this firsthand and know it to be true. Digital banking has continued to expand at roughly the same rate today as it has for the past few years. Yes, the technological foundation of how ordinary people manage their personal finances grew steadily for years. Then, COVID happened. [...]

By |July 26th, 2022|
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