How to Reduce Financial Fraud in your Call Center
5-Minute read Society is slowly emerging from its long COVID-related hibernation. Consumer financial transaction volume is increasing everywhere. And financial fraud crimes appear to be increasing at about the same rate as consumer spending. In other words, your members aren’t the only ones enjoying an economic recovery. Fraudsters are too. Considering all banking channels (web, phone, and branch,) fraud attacks grew by a stunning 159% in Q1 2021 [...]
CUFX Brings Additional Credit Union Voice to Financial Data Exchange (FDX) to Help Accelerate Digital Future
Denver, CO (JULY 7, 2021) – Open banking is proving to be a game changer for financial services. Open banking is the structured sharing of data using application programming interfaces (APIs) between financial institutions and third-party providers. It helps financial institutions more efficiently partner with fintechs and it helps consumers more easily and securely leverage their data across solutions CUFX, or the Credit Union Financial Exchange, has been [...]
Not Only Do Financial Fraud Victims Suffer Negative Emotional effects, but Physical Effects Too
(5-Minute Read) Contents: MemberPass prevents these things from troubling your members The list of known fraud-related stressors is long Credit unions can help Help members avoid financial fraud with MemberPass Arrange a MemberPass demo MemberPass prevents these things from troubling your members It’s always traumatic to be a victim of financial fraud. From every perspective, it can be devastating. It starts with the [...]
Apple Wallet Enters the Digital Identity Space
(6-Minute Read) Content: Apple Unveils Another Surprise This Step May Encourage More Consumers To Use Apple Pay Expansion Into Europe May Force Apple To Compete With The European Union (EU). Not Everyone Is Thrilled With Apple’s Move The Apple Wallet Digital Identity May Create A Federated ID Situation Like Other Providers MemberPass Is An Excellent Digital ID Alternative for CU Members Schedule A MemberPass Demo Today [...]
MemberPass Digital ID can help Reduce Expenses and Build Member Trust
[ 6-Minute Read ] Content: Good News speed up and strengthen the authentication process Make it easier to onboard new members Minimize compliance costs and manage risk Build stronger trust between you and your members Decentralized identity is no far-off dream arrange a personal demo You can probably use the good news. It’s never been easy to run a credit union, especially when [...]
Bonifii Releases New Versions of CUFX Standards with a Focus on Digital Identity and Open API Exchange
Denver, CO (JUNE 14, 2021) – Bonifii, an industry leader in privacy- and security-enhanced solutions, announces the release of CUFX versions 4.5 and 5.0. More than just a recent update, the two versions are a milestone in the evolution of CUFX (Credit Union Financial Exchange). Credit unions can share data between banking systems by leveraging CUFX, the open integration standard designed to make products and services available to their [...]
More digital banking, more financial fraud – coincidence?
(6-minute read) Contents: The COVID-19 pandemic triggered a multitude of new consumer behaviors Not surprisingly, there’s a related sharp rise in financial fraud However, the rise in financial fraud won’t drive people away from digital banking Even during the pandemic, consumers still opened new accounts Consumers aren’t intimidated by sophisticated account authentication measures either MemberPass is the perfect way to satisfy this expressed member preference Plus, your active [...]
How Credit Union Managers can get Operational Headache Relief
(5-Minute read) Every business suffers from operational headaches of one sort or another. They’re often referred to as “pain points.” And credit unions are no different. CREDIT UNION managers always have things they want to improve. Most often, they’re things the members care about, and would like to have improved or fixed. Contents: Members routinely complain about how long it takes to complete call center tasks [...]
How to fight imposter fraud at your credit union
(4-Minute Read)Contents: We have tools to help you Imposter fraud is pretty much exactly what it sounds like Some imposter scammers play the long game MemberPass is an important part of helping members avoid imposter fraud Add MemberPass Today We have tools to help you The incidence of all types of financial fraud is growing. A combination of factors appears to be at play. One big driver [...]
Distributed ledger technology (DLT) and digital credentials – a perfect match
(8-Minute Read) Contents: The History of Blockchain the History of Credentials How Paper Credentials Operate How the Verifiable Digital Credential Model Operates How does DLT fit in with all of this? Arrange a MemberPass demo The History of Blockchain Two researchers first outlined the foundation concepts of blockchain technology in 1991. They wanted to create a system where it was virtually impossible to alter [...]