In 2023, 48% of consumers said their primary method of accessing their bank account was through their mobile phone and online platforms. The preference for digital banking channels is especially strong among younger generations, with 74% of millennials reporting that they choose to bank digitally. The growing popularity of digital banking platforms provides fraudsters and…
As photo-editing and creation tools become more advanced and easier to use, it’s more and more difficult to identify fraudulent documents, like identity document (ID) cards. And with the latest deepfake technology, it’s easier than ever to fool traditional fraud detection systems. Stopping savvy fraudsters requires taking a smarter approach to identity document verification. Enter…
Fraudsters’ attacks are getting more and more advanced. They’re discovering new ways to bypass conventional fraud detection systems, allowing them to slip under the radar for longer and longer amounts of time. Fast detection is key to stopping damages caused by fraud from spreading. With smarter cybercriminals, companies need smarter prevention and detection systems to…
With the increasing rise in air travel around the world, the stakes for airlines couldn’t be higher. Security and efficiency are top concerns, and ensuring passengers have a frictionless experience has become an imperative. But there’s a hidden vulnerability that often goes unnoticed amidst the hustle and bustle of terminals and boarding gates: airline frequent…
In the ever-evolving financial realm, credit unions are experiencing a notable surge in membership, indicating a shift in consumer preferences towards a holistic banking experience. This encompasses not only competitive loan rates but also factors such as convenience, security and personalized service. Credit unions, serving as pillars of trust and reliability within their communities, face…
Face ID was added to most smartphones in 2017. The revolutionary technology largely replaced iPhones’ TouchID software and added an extra layer of security to Apple smartphone devices. The two-layer security combination of Face ID and Passcode keeps iPhones more secure than traditional facial recognition done by a simple 2D front-facing camera. But Face ID…
It’s been two years since 4Stop was acquired by Jumio, and as the former 4Stop CEO, I’m happy to say that this has been one of the best experiences of my career. 2022 was a big year for acquiring data orchestration hubs like 4Stop, as everyone realized the importance of orchestration to their business strategy….
Deepfakes are causing massive disruption across industries and are threatening companies’ security, reputation and bottom line. Every day there are new reports of criminals breaking through online security protocols and defrauding businesses and their customers around the world. InfoSec and IT departments are scrambling to put better policies and systems in place to prevent deepfakes….
One of Jumio’s strengths is that we provide various channels for integrating the identity verification journey into your onboarding workflow: a Web Client, Web SDK, Mobile SDKs and REST APIs. Each channel has unique advantages, and you can leverage one or more channels as needed. Fraudsters are becoming more and more sophisticated, and no solution…
In 2023, we witnessed the widespread adoption of AI tools such as ChatGPT, Dall-E, and Bard. However, along with the positive advancements, there were also negative aspects, particularly in the realm of fraud. To gain a better understanding of how AI is shaping the future of fraud prevention, The Fintech Times recently hosted a webinar….