In an account takeover, an individual or well-organized cartel obtains access to a consumer’s account, changes login credentials or personal data, then makes unauthorized transactions using that account. Unauthorized purchases, transfers of funds, and cancellation of payments can quickly lead to financial ruin for the consumer and reputational damage for the business that failed to prevent it.
LENDING RISK ANALYSIS: KEY CONSIDERATIONS
High inflation, rising interest rates, increasing consumer debt, supply chain issues, and the most significant conflict in Europe since World …
HOW TO DETECT FRAUD IN BANKING
Banking fraud is on the rise. In fact, 35% of banking customers recently surveyed by J.D. Power reported experiencing at …
10 CREDIT RISK MANAGEMENT STRATEGIES
Credit risk management is paramount for lenders as it directly impacts their financial stability and long-term success. It helps lenders …
BANKING FRAUD DETECTION & PREVENTION: TIPS FOR LENDERS
The ease of committing fraud using online resources has made banking fraud detection necessary for loan origination.
HOW TO RESPOND TO CAR LOAN DELINQUENCY RATES IN 2023
Car loan delinquency rates are rising, surpassing levels last seen during the Great Recession of 2008-09. Account delinquency rates of …
12 LOAN ORIGINATION KPIS & HOW TO MEASURE THEM
Loan origination KPIs (key performance indicators) are crucial metrics lenders use to assess the efficiency and effectiveness of their lending …
ASSET FINANCE PROCESS IMPROVEMENT FOR BANKS & CREDIT UNIONS
The consumer asset finance process refers to lenders that offer financing to individuals for purchasing various kinds of assets, including …
DIGITAL LENDING IN BANKING: A GUIDE
Digital lending in banking offers financial institutions several powerful benefits, including better decisions, improved customer service, and cost savings. Implementing …
WHY COMMUNITY BANKS ARE OUTSOURCING LOAN SERVICING
In our work with community banks, many have voiced the need for greater efficiency in handling high-volume, repetitive loan servicing processes. We’ve identified three compelling reasons why community banks are outsourcing loan servicing.